Tech Mahindra has acquired Born Group, a global digital & content production agency, owned by PE firms True North Capital and Zodius Capital. The deal is valued at $95 million, and is an all-cash deal. As per the deal terms – Tech Mahindra Limited will acquire the Indian subsidiary of Born Group, Born Commerce Private Limited and Tech Mahindra (Singapore) Pte Ltd. win acquire all the other legal entities of Born Group. The deal is expected to close by 15 November 2019.
In its statement Tech Mahindra said – “The acquisition will enhance Tech Mahindra’s transformation consulting capabilities through the addition of creative and design skills, technology and analytics platforms and commerce expertise.” Born Group is the largest independent, integrated agency for strategy, creative content and commerce offerings. The company has clients such as TAG Heuer, The Limited, Stuart Weitzman, Salvatore Ferragamo, Nanette Lepore, Net-a-Porter and Lord & Taylor.
As per an earlier news report – it is learnt that other leading Indian and global IT & ITES majors including Accenture, Cognizant, IBM – had been competing to get Born.
Born Group is headquartered in New York City and has offices in London, Hong Kong, Singapore and India. The company employs over 1,100 people, and reported revenue of $ 50 million in year ending 2018. The company is known for its end-to-end digital engagement – strategy consulting, content creation, digital production, eCommerce and CMS (Content Management System) implementations and data driven UX (User Experience).
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