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 USD 125 million. 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.
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Tech Mahindra will pay total consideration of up to $125 million, including employment-related and performance-related earnouts, as per a regulatory update filed with the exchanges. Allyis India Pvt Ltd and Green Investments LLC offer technology consulting and managed services for organisations to help reduce costs, improve performance, and meet their objectives. Allyis India Pvt Ltd was incorporated in 2018 whole Green Investments LLC was incorporated in 2013.
Important takeaways for all competitive exams:
- Tech Mahindra CEO: C. P. Gurnani;
- Tech Mahindra Headquarters: Pune;
- Tech Mahindra Founder: Anand Mahindra;
- Tech Mahindra Founded: 1986.