Tech Mahindra to acquire Payments Technology Services for ₹66 cr
Tech Mahindra has said that it will acquire 100% shareholding of Payments Technology Services (PTSL), a step-down subsidiary of fintech firm FIS, for about ₹66 crore. The move will give Tech Mahindra access to IPs and licenses for Open Payment Framework (OPF) and Multi-Bank System (MBS), it added. PTSL's turnover for the financial year ended December 2019 was ₹39.5 crore.