IT services firm Tech Mahindra Limited (Tech M) has acquired the New York-based digital content and production agency BORN Group for $ 95 million .
The acquisition will help boost the electronic and mobile commerce sector globally and provide an enhanced user experience to Tech Mahindra’s customers globally.
BORN’s services include consulting, content creation, maintenance and hosting services, digital and social marketing, and more. It has clients such as Google, Tata, Red Bull and TAG Heuer. Tech Mahindra acquires BORN Group, adds ~1,000 employees and creative capacity to its footprint
Ending the day with another big news in E-Commerce industry, especially when it comes about companies delivering ECommerce services. BORN Group is a familiar name and this a news. Hope Tech Mahindra will take a great company to another great level. Congratulations Dilip Keshu Prakash Gurumoorthy and all other friends from BORN. Great to see the companies focused on Magento, an Adobe Company ecosystem grow and get into new league like this.
IT services firm Tech Mahindra Ltd (Tech M) has acquired BORN Group, a New York-based digital content and production agency, for $95 million in an all-cash deal, Mint reported. The firm is owned by private equity firm True North and Zodius Capital.
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Tech Mahindra Ltd made an official announcement in a press release it fully prepared to acquire Born Group Pte. Ltd and its Indian unit as part of ongoing strategy to enhance its consulting efficiencies and capabilities.
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The software services company said in a stock-exchange filing to SEBI that it will acquire New York-headquartered Born Group for an enterprise value of $95 million (Rs 671.5 crore). Of this, $25 million will be linked to the achievement of financial targets for the year ending December 31, 2019.
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Born Group had clocked a revenue of $50 million in 2018 as compared with $39 million in 2017 and $36 million in 2016.
Earlier this year, Tech Mahindra acquired Dyna Commerce, a Netherlands-based (connected) customer experience player. Previous deals include that of BIO Agency in the UK and Pininfarina in Italy.