Tech Mahindra acquires 70% stake in Perigord Asset Holdings Limited

    Tech Mahindra said the acquisition would help better delivering efficiency and automation levers, across sectors including consumer-packaged goods (CPG), medical devices and over the counter (OTC) products.
    By: HT TECH
    | Updated on: Aug 21 2022, 15:49 IST
    Tech Mahindra acquires majority Stake in Perigord Asset Holdings Limited. Photographer: Dhiraj Singh/Bloomberg
    Tech Mahindra acquires majority Stake in Perigord Asset Holdings Limited. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)
    Tech Mahindra acquires majority Stake in Perigord Asset Holdings Limited. Photographer: Dhiraj Singh/Bloomberg
    Tech Mahindra acquires majority Stake in Perigord Asset Holdings Limited. Photographer: Dhiraj Singh/Bloomberg (Bloomberg)

    Tech Mahindra on Monday said it had acquired a 70% stake in Perigord Asset Holdings Limited (“Perigord”), a digital workflow and artwork, labelling and BPO services firm. The company added that the acquisition would help it “augment expertise” in the global pharmaceutical, healthcare, and life science (HLS) sectors.

    With the latest acquisition, Tech Mahindra is also looking to ramp up its presence as the digital enabler in the artwork and packaging services through an integrated platform and services portfolio. It is further looking to leverage Perigord's prowess to improve its delivering efficiency and automation levers, across sectors including consumer-packaged-goods (CPG), medical devices and over the counter (OTC) products. The company added that the acquisition is part of its strategy that aims to build a presence in key global markets such as Ireland, Germany, and the US.

    “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 the digital supply chain,” the company said in a release.

    ALSO READ: Tech Mahindra expects 5G, home connectivity to drive growth

    “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,” it added.

    The latest announcement comes after Tech Mahindra said it had partnered with AI-based analytics firm ThoughtSpot to deliver an AI-driven analytics service for enterprises globally. The company said it would integrate ThoughtSpot's search and AI-driven analytics platform its own Virtual Analyst platform to offer multi-level data analysis. The service also aims to deliver real-time insights to help businesses make more informed decisions. The service aims to cover a variety of verticals, including supply chain, marketing and even finances.

    ALSO READ: Tech Mahindra unveils K2, an AI-based HR humanoid

    Earlier this year, Tech Mahindra had teamed up with Execution Management Systems firm Celonis to introduce a new joint solution for the BPO space. The solution aims to deliver improved customer contact centres that increase business efficiency and optimizes cost by reducing friction.

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    First Published Date: 21 Aug, 15:49 IST
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