Tech Mahindra said on Tuesday it acquired California-based DigitalOnUs in an all-cash deal for $120 million (Rs 897 crore) as it looks to boost its hybrid-cloud offerings for enterprise customers globally.
The deal will strengthen its cloud native development and scale up nearshore delivery from Mexico and Canada, which could be used to execute digital transformation programmes, Tech Mahindra said in a statement.
The deal comes just a month after the IT services company acquired a 70% stake in pharmaceutical packaging artwork, BPO and digital solutions provider Perigord Asset Holdings for 21 million euros.
Tech Mahindra, which provides services in fields ranging from data analytics to cyber security to artificial intelligence, has been extensively focussing on expanding its digital platform as more companies turn to virtual in the pandemic.
The Pune-based company said that the deal will further enhance its hybrid-cloud digital transformation, providing end-to-end transformation, enterprise DevOps and cloud native development technologies.
“…it (deal) provides our organisation and its people with extensive global reach and customer access to scale and tap into many more significant opportunities,” said Suri Chawla, founder and CEO of DigitalOnUs.
DigitalOnUs, which has more than 380 employees, clocked a revenue of $30.6 million for the financial year ended December 2020.
In January, Tech Mahindra signed a professional services agreement with Fidelity Information Services, in an attempt to expand its footprint in the BFSI (banking, financial services and insurance) sector.