Tech Mahindra acquires 100% stakes in Allyis India

Tech Mahindra announced that the company has approved the proposal for the acquisition of 100% stakes of Allyis India and Green Investments for a total consideration of up to $125 million. 

The company said in its regulatory filing that it would pay a total amount of up to $125 million, along with employment-related and performance-related earnouts. 

Allyis India is headquartered in Seattle, USA and has more than 660 employees. The company targeted revenue for the financial year ending on December 31, 2020, was $39.6 million. 

Tech Mahindra has said that it is planning to offer technology consulting and managing services to help the organisations in reducing the cost and improving the performance.