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January 18, 2007 18:30 IST
Tech Mahindra on Thursday announced the acquisition of US-based network security solutions provider, iPolicy Inc, for an undisclosed amount.The domestic IT firm has signed an agreement to acquire the entire 100 per cent stake in iPolicy Networks Pvt Ltd, the wholly-owned Indian subsidiary of iPolicy and all assets of the US-based parent company, except for cash and accounts receivable, it said in a statement on the Bombay Stock Exchange. The assets of iPolicy Inc to be acquired by Tech Mahindra include customer contracts, movable assets, vendor contracts and contracts relating to the operations, including leasehold rights.
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