India’s Tech Mahindra acquires UK racing unit for $1.5Mn
NEW DELHI, INDIA — Indian multinational IT services and consulting firm Tech Mahindra is accelerating into the world of electric motorsports with the acquisition of Mahindra Racing UK Ltd (MRUK), a specialist in Formula E, for a cash consideration of £1.2 million (approximately US$1.5 million).
The transaction is being executed through Tech Mahindra’s wholly owned subsidiary Tech Mahindra London Ltd (TMLL), which will acquire 100% of MRUK from Mahindra Overseas Investment Company (Mauritius) Ltd, a subsidiary of Mahindra & Mahindra Ltd.
Diversifying beyond tech into sports engineering
Tech Mahindra said the acquisition aligns with its goal of diversifying into sporting events, professional leagues, and data-driven engineering.
Founded in 2014 and based in the United Kingdom, MRUK competes in the FIA Formula E World Championship, a high-profile electric street racing series. It has reported revenues of ₹357.56 crore (US$42.4 million) for the financial year ending March 31, 2025, and a net worth of ₹40.56 crore (US$4.8 million).
Global footprint with a high-tech focus
Tech Mahindra is a global provider of IT services, consulting, and business process outsourcing. The company reported consolidated earnings of ₹13,384 crore (US$1.57 billion). It soared to rank #9 in the OA500 2025, an objective index of the world’s top 500 outsourcing companies.
Looking ahead
Upon completion, MRUK will become a fully owned subsidiary of TMLL and, by extension, of Tech Mahindra Ltd. The integration is expected to open opportunities for advanced analytics, simulation, and real-time data engineering—capabilities central to both Formula E and Tech Mahindra’s enterprise offerings.
This acquisition marks another step in Tech Mahindra’s push to blend cutting-edge engineering with emerging industries, including electric mobility and smart tech. It follows a series of moves to expand beyond traditional IT services into areas like 5G, AI, cybersecurity, and now motorsports technology.
