Tech Mahindra acquires work at home CX firm Activus Connect in $62m deal
Tech Mahindra said that it has acquired Activus Connect, a Florida-based provider of work at home customer experience (CX) management solutions, in a deal worth up to $62 million.
The consideration includes earnouts.
According to Tech Mahindra, the acquisition of Activus Connect will strengthen its capabilities in emerging workplace solutions and bolster end-to-end CX portfolio.
Established in 2018, Activus Connect provides outsourced CX solutions and SmartVirtual technology, an artificial intelligence (AI) powered compliance analytics platform, for supporting and elevating chat, phone, email, text, video, and social experiences.
Through its acquisition, Tech Mahindra expects to cater to customers across verticals with multilingual, voice and non-voice customer care, multichannel, sales, retention, technical support, and social media moderation.
Furthermore, Tech Mahindra said that the transaction will enlarge its position as a top digital transformation enabler in the work at home CX management domain.
In addition to that, Tech Mahindra plans to utilize Activus Connect’s customizable omni-channels and the SmartVirtual technology for rendering a secure cloud-based ecosystem of analytics, technologies, and virtual management practices.
Birendra Sen — Tech Mahindra Business Head of Business Process Services said: “In line with our strategy of expanding our US presence to provide high quality digital customer experience services, we are very happy to welcome the Activus Connect team to the Tech Mahindra family.
“This acquisition will enable our customers to rapidly scale and operate by leveraging the Work at Home model. We believe that together we will continue to push the limits on providing superior outcomes for our customer.”
Headquartered in Orlando, Activus Connect has a workforce of over 1,750 people. In 2020, the work at home CX management solutions provider earned revenue of $17 million.
Felix Serrano — CEO of Activus Connect said: “We could not be more excited about the significance of today’s announcement, and what it means for our valued team members, customers, and the Tech Mahindra family.
“As a leading provider of employee based, 100% work-at-home solutions, the synergies between Activus Connect & Tech Mahindra will usher in a new chapter of Customer Experience Management (CXM) powered by Virtual CX. I see today as the beginning of a new-new, a realization that Virtual CX is core to the continued evolution of our industry.”