Tech Mahindra, Motorola to invest $12.5 mn in JV

Tech Mahindra and Motorola will be investing $12.5 million in their joint venture, CanvasM, to deliver application solutions for the global network providers and enterprises.

"The company will be headquartered in Noida. We will be investing $10 million while Motorola will be pumping in $2.5 million," C P Gurnani, president (international operations) Tech Mahindra said.

Tech Mahindra, a Mahindra and Mahindra-British Telecommunication Plc joint venture will have 80 per cent stake in the new venture while 20 per cent owned by Motorola.

The JV will implement end-user applications and content services, consistent service creation and a delivery and management framework utilising Motorola's global applications management architecture.

The new venture will be operational in two weeks, he added. The company will have two research and development centres in Noida and Bangalore.

Wipro Tech, Motorola form JV