Tech Mahindra acquired allyis India and green investments with 100% shares

Tech Mahindra is a name for innovation and top-notch technology services in the IT industry. Now the company is taking its services to the next level with Allyis India and Green Investments. On 31st December 2021, Tech Mahindra has officially acquired Allyis Group for $125 million. The company has acquired 100% shares and looking forward to utilizing resources.

Introduction:

Industry’s leading IT services and consulting firm Tech Mahindra is looking forward to expanding its business this year. On 31^st December 2021, the company has announced an official acquisition of Allyis India and Green Investments. In this, Tech Mahindra has acquired 100% shares of Allyis Group for $125million cash.

The company's executives have announced that acquiring Allyis India and Green investments will elevate its capabilities. Now, the company will focus on enhancing its digital experience, marketing, engineering, cloud, and automation services. Furthermore, the customers may also experience better BI, analytics, and technical support services.

But what exactly Allyis Group is?

What is Allyis Group?

Allyis Group is a US-based IT company known for its tech consultation and managed services. With over 600 employees, the company has offered quality IT services since 1996. It may surprise you that, Allyis Group posted a revenue report of $39.6 million at the end of December 2020. After the acquisition, it will be considered at Tech Mahindra Allyis from the year 2022.

What benefits Tech Mahindra will have?

Acquiring a company with over 600 employees will surely bolster the capabilities of Tech Mahindra. As discussed above, Tech Mahindra is planning to enhance various services and consultations using Allyis resources. Hence, we can expect a prominent improvement in the services and overall productivity of the company.

On this, Prabhudas Lilladher shares their thoughts in a note. He shared, "Past nine months were really beneficial in the expansion of Tech Mahindra. In the last nine months, we have acquired 8 entities to enhance our capabilities. We are looking forward to excelling in digital solutions, BPO transformation, DevOps, EV consultations, and mobility space.”

According to Aniket Pande and Aditi Patil, “Tech Mahindra is paying a consideration of $125 million to Allyis Group for this acquisition. In this, we include the employment and performance-related productivity of the business. The value we are offering is based 3.2 times of EV/Sales of Allyis on CY2020 turnover worth 39.6 million USD. Also, Tech Mahindra will the amount in cash and have 100% share of Allyis Group.”

Besides Allyis Group, Tech Mahindra has also acquired an IT services firm Activus Connect for $62 million. If you want to read more IT news updates, click on the "News" section of our official website.