Tech Mahindra Limited has informed the Exchange about Acquisition
TECHM · price
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Tech Mahindra, through its wholly owned step-down subsidiary Tech Mahindra Consulting Group Inc. (TMCG), has signed a Share Purchase Agreement to acquire Alluri Technologies Inc. (branded as 'Avant' or Avant Techno Solutions), a Canada-based IT services firm specializing in payments modernization and wealth platforms for North American banks. The company will first acquire 85% of Avant's equity for CAD 28 million in cash by 31 July 2026, with the remaining 15% to be bought by 30 June 2029 at a pre-agreed formula price. Avant employs over 240 people, reported turnover of CAD 58.64 million (~Rs 407 crore) in CY25, and has grown revenue from CAD 31.18 million in CY23. The deal is not a related-party transaction, requires no government approvals, and is aimed at strengthening Tech Mahindra's BFSI vertical capabilities across North America.
This is a bolt-on acquisition that expands Tech Mahindra's footprint in the high-demand BFSI payments and wealth management space in North America. The upfront cost of CAD 28 million (roughly Rs 194 crore) is modest relative to Tech Mahindra's scale, so the EPS impact is likely small, but the strategic value in adding a specialized Canadian delivery base and BFSI talent could support the stock sentiment positively.