Tech Mahindra acquires Activus Connect for $62 million
IT services major Tech Mahindra has acquired work at home customer experience management solutions firm Activus Connect for $62 million.
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Bengaluru, 4 December IT services major Tech Mahindra has acquired work at home customer experience management solutions firm Activus Connect for $62 million.
According to the company, this acquisition will bolster the company's capabilities in emerging workplace solutions and strengthen end-to-end CX portfolio. Activus Connect is headquartered in the US and has 1,750 employees with an annual revenue of $17 million in 2020.
The acquisition will augment Tech Mahindra's position as a leading digital transformation enabler in the Work at Home Customer Experience Management domain.
Vivek Agarwal, President – BFSI, HLS and Corporate Development, Tech Mahindra, said, "WAH CXM is undergoing disruptive changes due to the pandemic and has given rise to exponential demand in the market. The acquisition of Activus will fill a whitespace, with their unique delivery model, disruptive platform, and expertise in the WAH CXM industry that will add significant value to Tech Mahindra's offerings and capabilities."
In October, the IT firm has acquired two companies - US-based Infostar LLC and London-based We Make Websites Limited (WMW), for $105 million and $13 million, respectively to strengthen its digital portfolio. Infostar LLC is a digital product engineering company that uses the technology platform LodeStone to offer end-to-end product and data quality assurance solutions.
Tech Mahindra posted $1.47 billion in revenues for the quarter ended September, growth of 6.4 percent on a sequential basis. The IT firm had closed $750 million in net new deals. It was the highest sequential growth in a decade the company had seen.
