Tech Mahindra pays $62 mn cash to buy WFH solutions firm Activus Connect

The acquisition will bolster Tech Mahindra's capabilities in emerging workplace solutions and strengthen the end-to-end CX portfolio, Tech Mahindra said in a statement

IT services firm Tech Mahindra announced the acquisition of a 100 per cent stake in Florida-based Activus Connect in an all cash deal worth $62 million. The company had revenue of $17 million for the financial year ended on December 2020.

Activus Connect, is a provider of work at home customer experience management solutions. The acquisition will bolster Tech Mahindra’s capabilities in emerging workplace solutions and strengthen the end-to-end CX portfolio, said the company in a statement.

Vivek Agarwal, President – BFSI, HLS and Corporate Development, TechMahindra, said, “Theacquisition of Activus will fill a whitespace, with their unique delivery model, disruptive platform, and expertise in the WAH CXM industry that will add significant value to Tech Mahindra’s offerings and capabilities. We welcome Activus employees into the Tech Mahindra family and look forward to achieve great success together.”

Founded in 2018 with a headcount of 1,750 people,Activus Connect offers outsourced customer experience (CX) solutions andSmartVirtual technology to support and elevate chat, email, phone, text, video,and social experiences.

The acquisition will enable Tech Mahindra to offer multilingual, multichannel, voice & non-voice customer care, sales,retention, social media moderation and technical support to customers across verticals.

Felix Serrano, Chief Executive Officer, Activus Connect, said, “As a leading provider of employee based,100% work-at-home solutions, the synergies between Activus Connect & TechMahindra will usher in a new chapter of Customer Experience Management (CXM)powered by Virtual CX. I see today as the beginning of a new-new, a realization that Virtual CX is core to the continued evolution of our industry.”