IT major Tech Mahindra on Friday announced that the company and its wholly-owned subsidiary viz.,Tech Mahindra (Americas) Inc. has approved the proposal to acquire 100 per cent equity shares in Allyis India Pvt Ltd and Green Investments LLC, holding company for Allyis Group, respectively.
Tech Mahindra will pay total consideration of up to $125 million, including employment-related and performance-related earnouts, as per a regulatory update filed with the exchanges.
Allyis India Pvt Ltd and Green Investments LLC offer technology consulting and managed services for organisations to help reduce costs, improve performance, and meet their objectives. Allyis India Pvt Ltd was incorporated in 2018 whole Green Investments LLC was incorporated in 2013.
"The acquisition will bolster Tech Mahindra’s capabilities in Digital Experience Solutions, Learning & Development, Marketing, Instructional Design; Engineering: Cloud & Automation, BI & Analytics, Technical support services," Tech Mahindra said.