As per industry sources, Tech Mahindra has approved a proposal for the acquisition of a 100 per cent stake in Allyis India and Green Investments, for a total consideration of up to $125 million.
This move is expected to bolster Tech Mahindra’s capabilities in digital experience solutions, including learning and development, marketing, instructional design; and engineering; cloud and automation, analytics, and technical support services.
Tech Mahindra would pay total consideration of up to $125 million, including employment-related and performance-related earn-outs. The target entity is headquartered in Seattle, USA and has more than 660 employees. Outlining the details of the target, Tech Mahindra disclosed that it offers technology consulting and managed services that help organisations reduce costs and improve performance.
Allyis India and Green Investments LLC offers technology consulting and managed services for organisations to help reduce costs, improve performance, and meet their objectives. Allyis India was incorporated in 2018, while Green Investments LLC was incorporated in 2013. The turnover of the two entities stood at $39.6 million in the calendar year 2020.
