Tech Mahindra announced the acquisition of 100% stake in Allyis India Private Limited and Green Investments LLC.
According to the company’s exchange filing, “we wish to inform that the Company approved the proposal to acquire 100% equity shares in Allyis India Private Limited and the Company’s wholly owned subsidiary viz., Tech Mahindra (Americas) Inc. approved the proposal to acquire 100% equity shares in Green Investments LLC, holding company for Allyis Group (together called as Target).”
The acquisition will bolster Tech Mahindra’s capabilities in Digital Experience Solutions, Learning & Development, Marketing, Instructional Design; Engineering, Cloud & Automation, BI & Analytics, Technical support services, the statement said.
“Tech Mahindra will pay total consideration of up to USD 125 million including employment related and performance related earnouts,” according to the company’s statement.
Target offers technology consulting and managed services that help organizations reduce costs, improve performance, and meet their unique objectives. While Allyis India Pvt Ltd was incorporated in 2018 Green Investments LLC was incorporated in 2013.