Home >> News >>

Tech Mahindra Purchases Eventus Solutions Group For $44 Miilion

Tuesday, 27 April 2021, 04:02 Hrs

IT major Tech Mahindra on Monday stated it has acquired US-based Eventus Solutions Group for up to $44 million (around Rs 330 crore). Tech Mahindra, through its wholly-owned subsidiary - Tech Mahindra (Americas) Inc, has approved the proposal to acquire 100% equity shares in Eventus Solutions Group, LLC, a regulatory filing indicated.

The acquisition will bolster consulting capabilities in customer experience (CX) and customer management space and will enable Tech Mahindra to build an industry leading consulting practice and move up the value chain in the BPS business, it added in the statement.

The transaction is expected to close by June 15, 2021. "Tech Mahindra will pay total consideration of up to$ 44 million including earnouts," the filing stated.

Eventus Solutions Group provides end-to-end customer engagement solutions, such as strategy consulting, cloud based tools and automation services, and managed services.

Headquartered in Denver, Colorado, Eventus has more than 100 employees. Its revenue stood at$ 33.2 million in 2020.