Tech Mahindra to acquire 100% stake in Allyis India and its holding company Green Investments for USD 25 million

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Biznextindia : Tech Mahindra board has approved the proposal to acquire 100% equity shares in Allyis India Private Limited.  The company’s wholly owned subsidiary – Tech Mahindra (Americas) Inc. has approved the proposal to acquire 100% equity shares in Green Investments LLC, holding company for Allyis Group.

Tech Mahindra will pay total consideration of up to USD 125 million including employment related and performance related earnouts.

Green Investments LLC is headquartered in Seattle, USA and has more than 660 employees. For the financial year ending 31st December, 2020, the target had revenue of USD 39.6 million. It offers technology consulting and managed services that help organizations reduce costs, improve performance, and meet their unique objectives.

The acquisition is expected to bolster Tech Mahindra’s capabilities in Digital Experience Solutions like Learning & Development, Marketing, Instructional Design and in Engineering vertical like Cloud & Automation, BI & Analytics, Technical support services.

 

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