Tech Mahindra buys U.S. based Allyis Group for $125 Million
Tech Mahindra has now revealed that the company has approved the proposal to acquire the 100% stake in the Allyis India Private Limited, according to Tech Mahindra's NSE Exchange filling.
The company also approved the proposal to acquire a whole equity stake in and Green Investments LLC, holding company for Allyis Group.
Executive Opinion
In ET report, Prabhudas Lilladher, said, "In past nine months Tech Mahindra has done eight capability led acquisitions in areas such as digital experience solutions, digital transformation for BPO, Hybrid cloud and Devops, CX, consulting capabilities in EV, Mobility space etc.".
Aniket Pande and Aditi Patil said, "Tech Mahindra will pay total consideration of up to $125 million including employment-related and performance-related earnouts. These values target entity at 3.2x EV/Sales on CY20 turnover of USD 39.6 million".
Tech Mahindra's acquisition deal
Allyis India Pvt Ltd and Green Investments LLC, the holding company for the Allyis Group, is headquartered in Seattle, USA and has more than 500 employees.
For the financial year ending 31st December 2020, the company has revenue of around $39.6 million.
Tech Mahindra will pay a total consideration of around $125 million, which includes employment-related and performance-related earnouts.
Allyis provides with a technology consulting and managed services that help organizations to reduce costs, meet their unique objectives and improve performance. While Allyis India Pvt Ltd was incorporated in the year, 2018 Green Investments LLC was incorporated in the year 2013.
PC: Pixabay
Never miss an update. Subscribe and follow to stay informed. Delivered Every Tuesday.
We hate spam too, we will never share your details.
Udit Agarwal
Opinions expressed by techsutram contributors are their own. More details
Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.
Weekly Newsletter
Never miss an update. Subscribe and follow to stay informed.
Delivered Every Tuesday.
Delivered Every Tuesday.
Thank you! You have successfully subscribed to our newsletter.
We hate spam too, we will never share your details.
No comments:
Post a Comment
Your valuable comments are welcome. (Moderated)