Tech Mahindra to acquire German IT firm Beris consulting GmbH
India-based Tech Mahindra said that it will acquire Beris consulting GmbH, a German IT consultancy service provider, in an all-cash deal worth €7 million, including earn-outs.
Headquartered in Wolfsburg, Beris consulting GmbH is said to have expertise in the automotive industry in Germany with experience in niche techno-domain areas of customer experience (CX), aftermarket, mobility, and sharing.
Founded in 2013, the company’s turnover in 2020 was €10.1 million.
Tech Mahindra said that the acquisition of Beris consulting GmbH will enable it to unlock the transformational growth in the IT and application space for the automotive sector as a result of electric vehicle (EV), sharing and mobility.
It will also help the Indian IT services provider to grow its footprint, local expertise and client relationships in the German market targeting the CX-aftermarket business areas for IT applications digitization.
The acquisition will be carried out by the Indian firm’s fully-owned subsidiary — Tech Mahindra GmbH and is anticipated to close by 8 October 2021.