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.

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".

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.