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.
Related news
- IBM announces $150Bn U.S. investment to boost quantum and AI tech · 5 May
- HR Path acquires Swiss firm smahrt Consulting to grow European reach · 3 May
- MD Solutions acquired by F2 Strategy to expand wealthtech services · 2 May
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
