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Mindtree on an acquisition mode

Mid-tier IT services company Mindtree, on Thursday, said it had acquired two companies based in the U.S. and the U.K. The company also said it would spend around Rs 482 crore for the deal.

Mindtree has signed a definitive agreement to acquire 100 per cent equity interest in Bluefin Solutions Ltd. (Bluefin), a U.K.-based IT solutions provider specialising in SAP HANA solutions, in an all-cash transaction for £42.3 million (Rs.419 crore). The consideration includes an upfront payment of £34 million (Rs.337 crore) and earn out of £8.3 million (Rs.82 crore) payable over the next three years.

Mindtree's acquisition of Bluefin is part of its latest strategy to strengthen presence in the European market, and also bid for transformation deals.