Tech Mahindra is buying a 100% stake in Allyis India and Green Investments

Tech Mahindra announced on Friday that it has approved a proposal to acquire a 100% stake in Allyis India Private Limited and Green Investments for $ 125 million (approximately 930 crores) in a fully cash transaction.

Allyis India is headquartered in Seattle, USA and has over 660 employees. Most of the top management of the company are Indians, and it also has a large employee base in India.

The company approved a proposal to acquire a 100% stake in Allyis India Private Limited and a wholly owned subsidiary of Tech Mahindra (Americas) Inc. has approved a proposal to acquire 100% of the shares in Green Investments LLC, a holding company for the Allyis Group (collectively called Target), ”Tech Mahindra said in a regulatory submission.

Read also: Tech Mahindra Group will hire 600 engineers by next July, aiming for 10-12% business growth

For the fiscal year ending December 31, 2020, the company’s revenue was $ 39.6 million. The application further states that Tech Mahindra will “pay a total compensation of up to $ 125 million, including earnings related to employment and performance.”

The company said the acquisition will strengthen Tech Mahindra’s capabilities in digital experience solutions: learning and development, marketing, instruction design; engineering: cloud and automation, BI and analytics, technical support services.

Read also: Tech Mahindra FY21 net profit increased by 9.8% to Rs 4,428 million

Allyis India Pvt Ltd was established in 2018 while Green Investments LLC was established in 2013.

Total turnover in the last three years for the two entities was $ 39.6 million in CY20, $ 34 million in CY19 and $ 31 million in CY18. Turnover in CY21, for the first 11 months, starting January 1, 2021, and November 30, 2021, was $ 45.7 million.

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