Tech Mahindra acquires UK based The BIO Agency

For upfront payment of GBP 22 million and surplus cash and balance as deferred payments

Tech Mahindra announced the acquisition of The BIO Agency (BIO), headquartered in the UK. The Bio Agency specialises in digital transformation and innovation helping organisations change the way they engage with their customers.

The consideration is the enterprise value of GBP 40 million plus surplus cash not exceeding GBP 5 million as at the completion date. The payment of GBP 22 million and the surplus cash will be made upfront and the balance as deferred payments based on company performance.

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