One of the leading companies in Information Technology sector –Tech Mahindra acquired digital transformation firm UK-based entity BIO Agency. The acquisition deal is signed between the two companies for 40 million pounds in cash.
The payment of 22 million pounds and the surplus cash will be made openly and the remaining amount as deferred payments based on the company performance.
This acquisition is expected to help Tech Mahindra compete with larger international rivals such as Accenture and Cognizant, who have been able to build strong digital portfolios.
The BIO Agency is in the growth area of ‘Customer Experience’ across several industries and this is expected to grow the Tech Mahindra across the globe for digital portfolios. The company has strong presence in UK having several clients together with Western Union, Coca Cola, BBC and Microsoft.
Through this acquisition Tech Mahindra is expecting to strengthen its business capacities and get many new opportunities in digital portfolios.