Acquires 100% stake in Momenton and Tenzing ltd to enable
digital capabilities, modern cloud-based architecture and
transformation for customers
AUCKLAND, New Zealand
and MELBOURNE, Australia,
Oct. 27, 2020 /PRNewswire/ -- Tech
Mahindra, a leading provider of digital transformation, consulting
and business reengineering services and solutions today announced
strategic acquisition of Momenton, a digital enterprise
technology firm, offering consultancy and implementation services,
and Tenzing Limited, a technology consulting company. Tech
Mahindra has acquired 100% equity in both the organizations, and
together they will enable digital capabilities, modern cloud-based
architecture and transformation for customers in the ANZ
(Australia and New Zealand), in Financial Services and other
sectors.
Vivek Agarwal, Head Corporate
Development & Global Head for Healthcare and Financial
Services, Tech Mahindra, said, "The acquisition of
Momenton and Tenzing Ltd, are in line with our strategy to
strengthen our digital capabilities, and offer our clients
end-to-end transformation services. This will significantly enhance
our local presence in the markets, and the combination will create
significant synergies and help in bringing next generation
solutions to customers enabling them to run better, change faster
and grow greater. We welcome the team of Momenton and Tenzing Ltd
into the Tech Mahindra family, and look forward to creating and
delivering enhanced customer experiences for our
customers."
Jeff Ferdinands, Country Head – ANZ, Tech Mahindra, said,
"The addition of Momenton and Tenzing
Ltd will further strengthen Tech Mahindra's position in
the ANZ marketplace, especially in the Financial Services sector,
enabling the organization to deliver comprehensive suite of
technology, stronger onsite services and enhanced customer
experience. Tech Mahindra through its distributed delivery model
will enable Momenton and Tenzing Ltd to amplify
and deliver a wider range of services to our combined customer
base."
Momenton, is a Melbourne-based
digital enterprise technology firm offering consultancy and
implementation services in enterprise agility, product enablement,
engineering and emerging technology to clients across industries
with advanced capabilities in digital engineering and cloud native
architectures.
Bobby Singh, Momenton Founder,
said, "This acquisition represents an important step in
Momenton's growth journey. It provides our organisation and its
people with extensive global reach and the ability to tap into
significantly more opportunities in this fast-growing market. This
acquisition will further enhance and strengthen our client
relationships and enable us to expand the set of capabilities and
services we currently offer by drawing on the combined experience
of Momenton and Tech Mahindra. We look forward to being part of
Tech Mahindra and continuing to offer innovative, agile and
industry leading services to our current and future
clients."
Tenzing Ltd, is a management and technology consultancy
offering, business strategy, insurance core system transformation,
program management, target operating model design across industries
and public sector organizations.
Suri Bartlett and Chris Day, Joint Managing Directors,
Tenzing Ltd, said, "Tenzing
Ltd is a market leader in the delivery of management consulting and
technology services to a wide range of industries in New Zealand and Australia. Joining forces
with Tech Mahindra will enable Tenzing Ltd to rapidly scale up our
existing service offerings and facilitate the provision of a wider
range of solutions to our existing and new customers in the ANZ
region. We are pleased that Tech Mahindra is expecting to
leverage Tenzing's strong capabilities in the market."
The acquisitions underline Tech Mahindra's focus on digital
growth, under the TechMNxt charter, which focuses on leveraging
next generation technologies and solutions to disrupt and enable
digital transformation, and to build and deliver cutting-edge
technology solutions and services to address real world problems to
meet the customer's evolving and dynamic
needs.
About Tech Mahindra
Tech Mahindra represents the connected world, offering
innovative and customer-centric information technology experiences,
enabling Enterprises, Associates and the Society to
Rise™. We are a USD 5.2
billion company with 124,250+ professionals across 90
countries, helping 988 global customers including Fortune 500
companies. Our convergent, digital, design experiences, innovation
platforms and reusable assets connect across a number of
technologies to deliver tangible business value and experiences to
our stakeholders. Tech Mahindra has been recognised amongst
India's 50 best companies to work
for in 2020 by the Great Place to Work®️ Institute.
We are part of the USD 21 billion
Mahindra Group that employs more than 240,000 people in over 100
countries. The Group operates in the key industries that drive
economic growth, enjoying a leadership position in tractors,
utility vehicles, after-market, information technology and vacation
ownership.
Connect with us on www.techmahindra.com
For more information on Tech Mahindra, please
contact:
Abhilasha Gupta,
Global Corporate Communications and Public
Affairs
Email: Abhilasha.Gupta@TechMahindra.com;
media.relations@techmahindra.com
Connect with us on www.techmahindra.com
Our Social Media Channels:
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