Tech Mahindra Ltd acquires UK-based BIO Agency Ltd

Posted on:23 Jun 2016 17:44:47

Tech Mahindra Ltd acquires UK-based BIO Agency Ltd
23 June 2016 Current Affairs: Technology services provider Tech Mahindra Ltd (TechM) has acquired UK-based digital transformation firm The BIO Agency Ltd on 22 June 2016.The acquisition was carried out in an all-cash deal for an enterprise value of up to 45 million pounds.

Highlights : The payment of 22 million pounds and the surplus cash of 5 million pounds will be made upfront and the balance will be done away as deferred payments based on company performance.Tech Mahindra will acquire 100 percent of shares of the company. 

The closing date of the transaction is expected to take place in the first week of July 2016.The move will help Tech Mahindra to strengthen its digital portfolio in providing better digital strategy, services and customer experience.The acquisition will also help The BIO Agency to make sizable inroads into the telecommunications and enterprise clients of Tech Mahindra. 

BIO Agency specialises in digital transformation across sectors such as retail, financial and travel. It offers digital strategy, service design, digital retail, connected products, product innovation and e-commerce solutions.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs July 2017

26 JULY
NEWS
25 JULY
NEWS
24 JULY
NEWS
22 JULY
NEWS

Current Affairs June 2017

30 JUNE
NEWS
29 JUNE
NEWS
28 JUNE
NEWS
27 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS