M&M enters into agreement with Plexion Technologies, Mauritius
12 December 2005
Mumbai: Mahindra & Mahindra Ltd has bought an 88.41-per cent stake in J P Morgan group company, Plexion Technologies Mauritius'' Bangalore-based Indian subsidiary, Plexion Technologies (India) Ltd, for around $10 million.
Plexion is an aerospace, automotive and general engineering-focused computer aided engineering services company with operations in Asia, Germany, the UK and the US. The company follows a combination of offshore and onsite services delivery model.
The Indian company''s operations will be integrated into M&M''s Mahindra Engineering Services (MES), strengthening its knowledge base. Plexicon India''s design capability will enable M&M to gain entry into the aerospace design and engineering services, as the software company has engineers from HAL and ISRO on its rolls.
Plexicon (india''s) existing client base, which includes several international automakers like Honda and DaimlerChrysler, will be integrated with MES.