In a major announcement today, Tech Mahindra announced that it has acquired a 100% stake in DigitalOnUS. The step is seen in wake of the company’s efforts to strengthen cloud-native development, hybrid cloud infrastructure, and SRE (Site Reliability Engineering) automation.
DigitalOnUs is a tech company based in San Jose, California. The hybrid cloud and DevOps services provider have estimated revenue of $30.6 million by the end of CY2020. Over 380 employees work with the organization.
The acquisition cost is said to be $120 million (Rs.898 crore). It also includes a retention bonus and an Earnout.
The move will solidify the company’s position as a preferred partner of choice for hybrid-cloud digital transformation, developing cutting-edge technologies, providing end-to-end transformation, new-age capabilities including enterprise DevOps and cloud-native development technologies. Tech Mahindra will also acquire the Indian subsidiary of DigitalOnUs – DigitalOps Technology. Simultaneously, Tech Mahindra Americas will take over all the legal entities in the states.
“The acquisition by Tech Mahindra represents an important step in DigitalOnUs’s growth journey as it provides our organization and its people with extensive global reach and customer access to scale and tap into many more significant opportunities. Our team at DigitalOnUs is looking forward to being a part of Tech Mahindra and continuing to offer innovative, agile, and industry-leading services to our current and future customers.”, – Suri Chawla, Founder, and CEO, DigitalOnUs.
“The acquisition of DigitalOnUs marks an important milestone in Tech Mahindra’s growth journey, and will further enhance our capability in cloud-native engineering, and better equip us to develop cutting-edge digital solutions for our customers. Scaling up near-shore delivery capability, with a majority in Mexico and Canada will be critical to executing digital transformation programs.” – Vivek Agarwal, President-Corporate Development, BFSI and HLS, Tech Mahindra.
Last month only the Indian technology company Tech Mahindra acquired a 70% stake in Dublin-based digital workflow and artwork, labeling, and BPO services firm Perigord for $25.06 million.
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