Why has Tech Mahindra acquired Activus and what is the synergy?
Answer
Answer
Tech Mahindra, part of the M&M group, has just acquired 100% in Activus Connect of the US for a consideration of $62 million or approximately Rs.466 crore. Activus specializes in providing work-from-home customer experience management solutions and had come into the limelight during the lockdown globally.
Mahindra is making a big wager on workplace solutions and this buyout will boost its solutions portfolio. Now, Tech Mahindra will be in a position to offer multi-lingual, multi-channel WFH (work-from-home) solutions to customers across verticals. Activus Connect had reported revenues of $21.8 million in H1FY21.