Tech Mahindra acquires 100% stake in Activus Connect for Rs 466 crore

IT company Tech Mahindra on Friday said it has acquired 100 per cent stake in Activus Connect, which provides work-at-home customer experience management solutions, for USD 62 million (about Rs 466 crore).

The US based Activus Connect has 1,750 employees and reported a revenue of USD 17 million in the financial year ended December 31, 2020, as per a regulatory filing.

"The acquisition will bolster Tech Mahindra's capabilities in emerging workplace solutions and strengthen the end-to-end CX portfolio," Tech Mahindra said in a statement.

Founded in 2018, Activus Connect offers outsourced customer experience (CX) solutions and technology to support and elevate chat, email, phone, text, video, and social experiences.

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The acquisition will enable Tech Mahindra to offer multilingual, multichannel, voice & non-voice customer care, sales, retention, social media moderation and technical support to customers across verticals, the statement said.

"This acquisition will enable our customers to rapidly scale and operate by leveraging the Work-at-Home model. We believe that together we will continue to push the limits on providing superior outcomes for our customer," Birendra Sen, Business Head, Tech Mahindra Business Process Services said.

For the six months ended June 30, 2021, Activus Connect recorded a revenue of USD 21.8 million.

"As a leading provider of employee based, 100 per cent work-at-home solutions, the synergies between Activus Connect and Tech Mahindra will usher in a new chapter of Customer Experience Management (CXM) powered by Virtual CX," Activus Connect CEO Felix Serrano said.