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25 October, 2021 04:23 IST
Tech Mahindra acquires 70% stake in Perigord
Source: IRIS | 15 Mar, 2021, 12.49PM
Rating: NAN / 5 stars.
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Tech Mahindra, a provider of digital transformation, consulting and business re-engineering,  has acquired 70% stake in Perigord Asset Holdings (Perigord), a digital workflow and artwork, labelling and BPO services firm. This acquisition will help company to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors.

The strategic partnership will strengthen the company'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 company'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."

Shares of the company gained Rs 13.20, or 1.31%, to trade at  Rs 1,017.10.  The total volume of shares traded  was  254,545 at the BSE (11.17 a.m., Monday).

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