TECH MAHINDRA ANNOUNCED A NEW BUSINESS UNIT TO LEVERAGE CUTTING-EDGE TECHNOLOGY

New business unit for video services in 5G
TECH MAHINDRA ANNOUNCED A NEW BUSINESS UNIT TO LEVERAGE CUTTING-EDGE TECHNOLOGY

Tech Mahindra Limited is an Indian multinational provider of information technology (it), networking technology solutions and business process outsourcing (BPO) to various industry verticals and horizontals. Anand Mahindra is the chairman of Tech Mahindra, which is headquartered at Pune and has its registered office in Mumbai.

Part of the Mahindra group, Tech Mahindra is a us$4.7 billion company with over 113,550 employees across 90 countries. Tech Mahindra was ranked #5 in India's software services (it) firms and overall #111 in fortune India 500 list for 2012. Tech Mahindra, on 25 June 2013, announced the completion of a merger with Mahindra Satyam. Tech Mahindra has 926 active clients as of March 2018.

Mahindra & Mahindra started a joint venture with British telecom in 1986 as a technology outsourcing firm. British telecom initially had around 30 percent stake in the tech Mahindra Company. In December 2010, British telecom sold 5.5 percent of its stake in Tech Mahindra to Mahindra & Mahindra for Rs 451 Crores. In August 2012, British telecom sold 14.1 percent of its stake to institutional investors for about Rs 1,395 Crore. In December 2012, British telecom sold its remaining 9.1 percent (11.6 million shares) shareholding to institutional investors for total gross cash proceeds of Rs 1,011.4 crores. This sale marked the exit of British telecom from Tech Mahindra.

Tech Mahindra announces a new business unit to leverage cutting-edge technology and solutions to cater to the expected heavy demand for video services in the 5G ecosystem.

The establishment of new "video integration and engineering" platform Tech Mahindra said that it would aim to improve its strategic position with several video distribution companies in the US.

The strategic establishment of the VIE platform will help us increase our expertise in developing niche applications and services as well as cater to the exponentially growing digital video services market.

The video will amount for 90 percent of all 5G traffic mainly on account of mobile video and over the Top streaming services.

5G is expected to grow the global mobile media market over cellular networks from$170 billion in 2018 to $420 billion in2028.

Consumers spend on video, music, and games on mobile are expected to nearly double by 2028 to reach almost $150 billion globally.

"Our endeavor is to spend up to the digital transformation of video for our clients and help reduce the costs and open up other revenue generation avenues for our clients and partners."

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