MindTree says to buy Kyocera Wireless India

MindTree Ltd said on Tuesday it would buy Bangalore-based Kyocera Wireless India Pvt Ltd and make an upfront payment of $6 million.

Updated on: Sep 29, 2009, 12:44:36 IST

Reuters | By HT Correspondent, Mumbai

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MindTree Ltd said on Tuesday it would buy Bangalore-based Kyocera Wireless India Pvt Ltd and make an upfront payment of $6 million, while further payments will be linked to revenue in FY11 and FY12.

The IT firm expects the acquisition to contribute about $9 million in revenues for the period Oct 2009 to March 2010, with profit after tax expected to be in the range of 13-15 per cent, it said in a statement.

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