TechT h M h' d L' ' d

lTlahinclra SizrdacznzfigsfigtsgomPune 411004, Maharashtra, India

Tel. +91 20 8601 8100

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techmahindraeom

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Registered Office:

Gateway Building, Apollo Bunder

Mumbai 400 001, India

CIN LB4EDOMH’1988PLCD4’IB7O

January 31, 2020

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BSE Limited National Stock Exchange of IndiaPhiroze Jeej eebhoy Towers, LimitedDalal Street, Exchange Plaza, 5th floor,MUMBAI ~ 400 001 Plot No. — C/1, G Block,Scrip Code : 532755 Bandra—Kurla Complex, Bandra (E)

MUMBAI w 400 051NSE Symbol : TECHM

Sub: Approval of proposal for acquisition of majority stake in Cerium Systems Private Limited.

Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations,2015, we wish to inform that the Board of Directors of the Company has approved the proposal toacquire majority stake in Cerium Systems Private Limited.

In this regard, please find enclosed herewith, Disclosure containing the details pursuant to Regulation30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read withSEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 as Annexure 1.

This is for your information and record.

Please acknowledge receipt of the same.

Thanking you,

For Tech Mahindra Limited

y-Y“

Anii Ehatri

Company Secretary

Encl.: As stated above

Techrnahkmka Annexure I Sr. No. Items for Disclosure Description 1 Name of the target entity, details in brief such

as size, turnover etc.;The target entity is Cerium SystemsPrivate Limited, an Indian company withheadquarters in Bangalore. The companyalso has offices in Santa Clara, CA andPenang, Malaysia along with Cochin andVishakhapatnam (India) and has ~840employees. Revenue for the financial yearended 315‘ March 2019 was INR 105.7crs. Whether the acquisition would fall within

related party transacti0n(s) and whether thepromoter/ promoter group/ group companieshave any interest in the entity being acquired?If yes, nature of interest and details thereofand whether the same is done at “armslength”;

No

Industry to which the entity being acquiredbelongs;

IT Services

Objects and effects of acquisition (includingbut not limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of the listedentity);

This acquisition is expected to help bolstercapabilities in the areas of semiconductordesign and testing, embedded softwaredevelopment/testing and productengineering.

Brief detailsregulatoryacquisition;

of any governmental orapprovals required for the

None

Indicative time period for completion of theacquisition;

Nature of consideration - whether cashconsideration or share swap and details of thesame;

Cost of acqu1s1t10n or the price at which theshares are acquired;

a70% ofthe shares Will be acquired upfront

The transaction is expected to close by 1StApril 2020.

Cash

for an enterprise value not exceedingRs. 245 crs. The remaining 30% will beacquired over the next two years at avaluation linked to the financialperformance of the company. Percentage of shareholding / control acquired

and / or number of shares acquired;70% 0fthe shares will be acquired upfrontremaining 30% will be acquired over thenext two years at a valuation linked to the

financial performance of the company. 10 Brief background about the entity acquired interms of products/line of business acquired,date of incorporation, history of last 3 yearsturnover, country in which the acquired entityhas presence and any other significantinformation (in brief); The target entity is an integrated circuitand embedded software design serviceprovider. The company was founded in theyear 2013 and has around 840 employees.The company is headquartered inBangalore with offices in Santa Clara, CAand Penang, Malaysia. *1

TechlTIahinclra

Last 3 years Turnover of the Company isas follows:

FY17: Rs. 36.820rs

FY18: Rs. 71.550rs

FY19: Rs. 105.73crs

For Tech Mahindra Limited

.0

Company Secretary