Tech Mahindra to acquire 100% stake in Thirdware Solutions Limited

The Company approved the proposal to acquire 100% equity shares in Thirdware Solutions Limited, (https://www.thirdware.com/index.html). Headquartered in Mumbai with more than 850 employees. For the financial year ending 31st March, 2021, Thirdware had revenue of INR 2,106.2 million. Thirdware delivers industry specific technological expertise through a range of services spanning business applications consulting, design, implementation and support

Thirdware is a global player in Enterprise Applications focused in the areas of ERP, BIA, Cloud and business technologies. Thirdware offers consulting, design, implementing, and support of enterprise applications services with a focus on the Automotive industry.

The entity being acquired belongs to IT Services Industry.

The acquisition will bolster Tech Mahindra’s digital solutions and services in automotive consulting, design, development, and implementation in areas like ERP (Enterprise Resource Planning), EPM (Enterprise Performance Management), RPA (Robotic Process Automation), and IIoT (Industrial Internet of Things). Thirdware’s capability to provide end-to-end implementations and global rollouts of ERP solutions will give Tech Mahindra an edge in the manufacturing space.

Tech Mahindra will pay total consideration of up to USD 42 million including earnouts.