Tech Mahindra, the IT services provider from the Mahindra & Mahindra Group, said it has purchased a US-based consulting and IT services provider for $125 mn or Rs 930 cr.
The company has 660 employees, and the shares are being purchased from two entities, one in India and another in the US.
Most of the top management of Allysi Group are Indians, and the company also has a large employee base in India.
“Allyis Group offers technology consulting and managed services that help organizations reduce costs, improve performance, and meet their unique objectives,” Tech Mahindra said.
The shares are being purchased from Allyis India Pvt Ltd — incorporated in 2018 — and Seattle-based Green Investments LLC, incorporated in 2013.
The company had revenue of $39.5 mn (Rs 295 cr) for 2020, up from $34 mn in the preceding year and $31 mn in the year prior.
It has already clocked $45.7 mn in revenue for the first 11 months of 2021, Tech Mahindra said.
“The acquisition will bolster Tech Mahindra’s capabilities in digital experience solutions such as learning & development, marketing and instructional design as well as in engineering solutions such as cloud & automation and business intelligence & analytics. Allyis also provides technical support services.
The company offers services under the Greenshoring brand, under which it offers to locally outsource IT functions in a “conscionable, cost effective manner while being true to the communities they are based out of”.