Tech Mahindra acquires Lodestone and WMW to strengthen its digital portfolio
By MYBRANDBOOK
Tech Mahindra has acquired US-based Infostar LLC for $105 million and London based We Make Websites Limited (WMW) for $13 million to strengthen its digital portfolio.
Infostar LLC is a digital product engineering company that uses the technology platform LodeStone to offer end-to-end product and data quality assurance solutions. Lodestone will help large internet companies build their products and technology to provide quality assurance, data quality, product quality, expertise.
WMW offers Shopify-focused e-commerce agency and will add to Tech Mahindra’s capabilities in Experience Design pillar and help build an industry-leading Shopify Practice.
“With our quarterly results, we've announced two acquisitions. As we have previously articulated, these acquisitions are for building specific capabilities, which are high growth in nature,” Vivek Agarwal, President – BFSI, HLS, and Corporate Development, Tech Mahindra, said during the company's Q2 FY22 results.
Tech Mahindra reported $1.47 billion in revenues for the quarter ending September, a growth of 6.4 per cent on a sequential basis. The company closed $750 million in net new deals.
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