IT services major Tech Mahindra today announced the acquisition of 100 per cent stake of Allyis India and Green Investments for $125 million in an all cash deal. So far the company has invested close to $500 million in seven acquisitions in FY22.
The target entity is Allyis India Pvt Ltd and Green Investments LLC, holding company for Allyis Group (together called as Target). The Target is headquartered in Seattle, USA and has more than 660 employees. For the financial year ending 31st December, 2020, the target had revenue of $39.6 million.
The acquisition of Target, said the company in a regulatory filing will bolster its capabilities in digital experience solutions: learning & development, marketing, instructional design; engineering: cloud & automation, BI & analytics, technical support services.
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