Tech Mahindra has acquired DigitalOnUS, a hybrid cloud and DevOps services provider, for $120 mn, including retention bonus and earnout. The acquisition will help Tech M to strengthen its hybrid-cloud offerings, cloud-native development, and Site Reliability Engineering automation. DigitalOnUS is headquartered in California and has a presence in India, as well. It has over 380 employees and posted a revenue of $30.6 mn for the FY ending on 31st Dec 2020.
The top five IT firms — TCS, Wipro, Infosys, HCL Tech, Tech Mahindra — together will hire over 110,000 technology professionals in the FY 2021-22, much higher than the addition of the net job of 90,000 during the last FY. DXC Technology, Mindtree and many other tech firms will also step up hiring in the coming quarters of this FY to manage higher attrition rates. These companies look for talent to execute projects for clients looking to digitally transform their businesses.
Tech Mahindra has launched ServiceNow Business Unit for the digital transformation of clients. Together they will build joint customers through rapid prototyping and development of the next-gen low code, no code apps across 5G, IoT, AI/ML, customer experience across telecom, media, entertainment, energy and utility sectors.“This BU will unlock the promise of digital productivity and deliver customer success,” said Charu Kapur, Global Head – Enterprise of Future, Tech M.
Top Indian IT companies’ net hiring in FY22 could hit an all-time high, since the heydays of 2011-12, JM Financial said. Acceleration in the adoption of digital tech by global firms led to a rise in demand for IT services worldwide, making 2020-21 a transformative year for Indian IT companies. In 2011-12, the net hiring by top five offshore IT firms — Infosys, Cognizant, Wipro, HCL Tech and TCS, stood at 1,11,022, which has not been breached in the last nine years.
Tech M has acquired a 70% stake in digital workflow and artwork, labelling and BPO services firm Perigord to strengthen “augment expertise” in pharma, healthcare, and life science sectors. Besides, ramping up its presence as the digital enabler in the artwork and packaging services, Tech M will also leverage Perigord’s strength to improve delivering efficiency and automation levers. The acquisition also aims to build a presence in Ireland, Germany, and the US.
Tech Mahindra and ThoughtSpot, an AI-driven analytics firm have partnered to provide enterprises with AI-driven analytics to help them analyse data with ease. Tech M will integrate its Virtual Analyst platform with ThoughtSpot’s search and AI-driven analytics platform to drive multilevel data analysis to let firms gain real-time insights to make informed business decisions in marketing, supply chain, financial, etc to identify trends in customer behaviour.
IBM and Tech Mahindra have partnered to generate $1 bn business, each over the next three years by offering solutions in 5G, cybersecurity and cloud to customers globally said IBM Chairman Arvind Krishna and Tech M CEO CP Gurnani. Tech M expects 40% of the joint work to be on 5G. Both executives said that the pandemic accelerated the adoption of tech by firms, individuals and countries and is set to continue as tech enables improvement in the quality of life.
Tech Mahindra has partnered with RSA Scandinavia, an insurer in Nordic countries, to support its IT infrastructure digitisation strategy by applying next-gen services. The IT services provider would help in customisation of digital services and enhance customer experience globally. This is yet another step taken by Tech M to expand in BFSI space. It acquired Payments Technology Services, based in Hong Kong and opened CoE in Chennai to serve BFSI customers.