Tech Mahindra, a part of the Mahindra Group that offers innovative and customer-centric information technology experiences, announced the strategic acquisition of Momenton, a digital enterprise technology firm, offering consultancy and implementation services, and Tenzing Limited, a technology consulting company.
According to the press statement, Tech Mahindra has acquired 100% equity in both the organizations, and together they will enable digital capabilities, modern cloud-based architecture and transformation for customers in the ANZ (Australia and New Zealand), specifically in Financial Services.
Commenting on the development, Vivek Agarwal, Head Corporate Development & Global Head for Healthcare and Financial Services, Tech Mahindra, said, “The acquisition of Momenton and Tenzing Ltd, are in line with our strategy to strengthen our digital capabilities, and offer our clients end-to-end transformation services. This will significantly enhance our local presence in the markets, and the combination will create significant synergies and help in bringing next generation solutions to customers enabling them to run better, change faster and grow greater. We welcome the team of Momenton and Tenzing Ltd into the Tech Mahindra family, and look forward to creating and delivering enhanced customer experiences for our customers.”
Tech Mahindra is a $4.9 billion company with 131,500+ professionals across 90 countries, helping 946 global customers including Fortune 500 companies. The company is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).
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