In April of this year, Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries signed a 3,635 sq.m. office lease agreement to open a Business processing Services (BPS) centre at Jaunā Teika complex in Riga, Latvia. This stands as the biggest deal in the Baltic office market in 2024, executed through the leasing of presently available commercial premises.
The new market expansion is a significant part of Tech Mahindra’s ongoing strategy to deliver innovative technology solutions worldwide. The new facility in Latvia will help bolster Tech Mahindra’s BPS presence in Europe, providing local and regional customers with direct access to its comprehensive range of services including 5G, Metaverse, Blockchain, Quantum Computing, Cybersecurity, and Artificial Intelligence. The centre will employ approximately 500 professionals, further extending Tech Mahindra’s global workforce which spans over 145,000+ employees across 90+ countries. Tech Mahindra Business Process Services is at the forefront of future-ready technology and has 55+ delivery centers in 15 countries that provide services in 50+ languages to 270+ global customers.
Birendra Sen, Business Head, Business Process Services, Tech Mahindra said, “Tech Mahindra's expansion into the Baltic States is a pivotal stride in our growth strategy. Latvia's thriving tech ecosystem, skilled workforce, robust IT infrastructure, and favorable government policies make it an ideal hub for accessing European markets. This expansion highlights our commitment to regional growth and technological advancements in Europe.”
Vitolds Kaupass, manager of the Jaunā Teika office complex notes that while "Jaunā Teika" accommodates professionals from diverse industries, it predominantly serves as a hub for IT companies from Latvia and abroad, cultivating a distinct community and fostering a dynamic international atmosphere. „This unique aspect, coupled with our convenient location and well-equipped infrastructure, enables seamless operations with minimal adjustments, further enhancing our appeal to entities like Tech Mahindra“ says V. Kaupass.
“The successful attraction of global corporations such as Tech Mahindra represents a notable accomplishment for both property owners and our country, particularly against the backdrop of a slower Riga office market in recent years. We take pride in the recognition that our office complex, Jauna Teika, meets and exceeds global quality standards, offering a compelling environment for international corporations to establish their presence in Riga. These collaborations strategically position our capital as a dynamic and competitive hub for technology enterprises, thereby contributing positively to the local economy, workforce, and overall reputation” says Viktors Savins, CEO at Eften Capital Latvija.
“This marks the largest deal in the Baltic office market thus far in 2024 from the existing office stock already available in the market" states Dace Priede, Head of Office Solutions for Latvia at Newsec, who together with a team supported Tech Mahindra and EfTEN Capital Latvija in signing the lease agreement. "Having a track record of advising a diverse array of international clients, seeking temporary or permanent space, our team at Newsec prides itself on facilitating mutually beneficial agreements. For tenants like Tech Mahindra and landlords such as EfTEN Capital Latvija, we excel in matching needs with opportunities, ensuring optimal outcomes for all parties involved. We are honored to have been chosen as an advisor to bring the biggest Baltic office lease deal to Riga“, notes D. Priede.
The new "Tech Mahindra" premises within the "Jaunā Teika" office complex boast an open-plan office design, employee training and conference rooms, lounge areas, and a custom-tailored server room. Significant adjustments have been made to meet the company's specific requirements, with a strong emphasis on ensuring robust internet connectivity and advanced security measures to support their operational needs.
“Jaunā Teika” stands as one of Latvia's premier business complexes, featuring four contemporary office buildings - Valters, Ausma, Teodors, and Henrihs. Surrounded by meticulously planned infrastructure these buildings are crafted to promote the well-being and productivity of residents. With adaptable layouts, convenient transport access, BREEAM certification, extensive multi-storey parking, and the largest electric car charging station in the Baltics, the complex ensures an optimal working environment. “Jaunā Teika” currently accommodates many international corporations, for instance “Norwegian Air”, “Alstom”, “LG Electronics”, “TetraPak”, “Gjensidige”, “Siemens”, “DNB Bank”, “Cabot Latvia”, “EPAM”, “Teikums” co-working and other.
About Tech Mahindra:
Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 145,000+ professionals across 90+ countries helping 1100+ clients, TechM provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design services, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative’s Terra Carta Seal, in recognition of actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your scale at speed imperatives, please visit https://techmahindra.com
Please enter your username and password.
2024 © The Baltic Times /Cookies Policy
