IT services and consulting firm, Tech Mahindra, on Tuesday (February 20) said it has acquired 100% stake in Orchid Cybertech Services (OCSI) through its wholly owned subsidiary for $3.27 million.
Orchid Cybertech Services provides customer experience related services to TPG Telecom. It has about 2,950 full time employees. The turnover of the company for the financial year ended on July 31, 2023 was $37.3 million.
Tech Mahindra in the filing said it has a long standing relationship with TPG Telecom (TPG). “This deal further strengthens the relationship with TPG and aids in expanding existing customer experience capabilities and business in the Philippines,” it said.
The acquisition of OCSI will facilitate this transition and enable incremental revenue to be realized. As part of this transaction, OCSI, including its assets and employees, will become part of Tech Mahindra and Tech Mahindra will provide customer support and other services to TPG, the company said.
First Published: Feb 20, 2024 9:39 AM IST
