M&A
Tech Mahindra to acquire IT services firm Allyis for $125-M
BSE Release Advisor Disclosure
Pune-based, publicly-listed Tech Mahindra is to acquire a 100% stake in Hyderabad-based Allyis India for USD 125 million in cash, including earnouts. Under the deal, Tech Mahindra (Americas) Inc will buy a 100% stake in the target company's Seattle, WA (USA)-based holding company Green Investments LLC. S&R Associates and Spark Capital advised Allyis. For the fiscal ended December 31, 2020, Allyis and Green Investments posted a revenue of USD 39.6 million (compared to USD 34 million in the previous year). Allyis offers technology consulting and managed services that help organisations reduce costs and improve performance. The deal is expected to bolster Tech Mahindra's capabilities in digital experience solutions (learning and development, marketing, instructional design, and engineering), cloud and automation, analytics, and technical support services.
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