Mindtree acquires stake in Aztecsoft

Aztecsoft, an Indian company providing outsourced product development and testing has sold a majority stake in it operations to Mindtree Ltd. Mindtree valued the company at $90 million and announced that it will acquire 32.57% of the company at Rs 80 per share.

MindTree a recognized leader in R&D services in the hardware and systems platform development will now be able to offer complete end-to-end OPD product stack through this acquisition. Mindtree is also expected to announce an open offer to Aztecsoft's shareholders to acquire 20% more of the company's stake from the public market. Aztecsoft has 2,100 employees and provides full-lifecycle product engineering, independent testing, sustenance engineering and professional services.