Tech Mahindra Acquires Majority Stake in Perigord Asset Holdings Limited
Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, today announced that it has acquired 70% stake in Perigord Asset Holdings Limited (“Perigord”), a digital workflow and artwork, labelling and BPO services firm. This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors.
The strategic partnership will strengthen Tech Mahindra’s position as a leading digital transformation enabler in the artwork and packaging services space with an integrated platform and services portfolio. Additionally, Tech Mahindra will leverage Perigord’s expertise and offerings to extend capabilities towards delivering efficiency and automation levers, across sectors including consumer-packaged goods (CPG), medical devices and over the counter (OTC) products to enable growth and scalability in the future. The acquisition is a part of Tech Mahindra’s long-term growth plan to build presence across key markets in Ireland, Germany, USA, and India with enhanced global delivery.
Vivek Agarwal, President – BFSI, HLS and Corporate Development, Tech Mahindra, said, “Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains. Perigord’s disruptive proprietary platform and expertise in the artwork space and life sciences industry will add significant value to our offerings and capabilities. We welcome Perigord employees into the Tech Mahindra family and look forward to achieve great success together.”
With leading capabilities in the BPS (Business Process Services) segment along with the SaaS (Software as a Service) implementation and roll-out, the acquisition will further establish Tech Mahindra as a preferred service provider in the Life Sciences Industry across digital supply chain.
Alan Leamy, Chief Executive Officer, Perigord Asset Holdings Limited, said, “We are excited and looking forward to joining forces with the Tech Mahindra family as this partnership is the perfect mix of scale, technology, expertise and timing that will enable the company to continue our journey as the world’s leading provider in pharmaceutical labelling, artwork and workflow solutions. Both companies’ future ambitions and desires to digitally transform the world of Pharmaceutical packaging services will deliver long term innovative solutions to our clients that will future proof their needs over the next ten years.”
Ritesh Idnani, President, Business Process Services, Tech Mahindra, said, “This acquisition lies at the centre of our strategic priorities around platform-led BPaaS (Business Process as a Service) offerings expanding our global footprint and bolstering our capabilities in digital supply chain in the healthcare and life sciences market. Further, it will consolidate our leadership in using technology to render next generation offerings to our clients, and together, we aspire to leverage synergies of both organizations to deliver seamless services to our customers across the globe.”
The acquisition underlines Tech Mahindra’s focus on digital growth, under the NXT.NOW framework, which focuses on leveraging next generation technologies and deliver disruptive solutions to enable digital transformation and meet the evolving and dynamic customer needs.