Tech Mahindra to acquire Lodestone and We Make Websites Ltd
Tech Mahindra said that it will acquire US-based IT services provider Infostar LLC (dba Lodestone) and UK-based We Make Websites Limited (WMW) in two separate deals.
Lodestone will be acquired by Tech Mahindra (Americas) Inc, a fully-owned subsidiary of the Indian IT company. The consideration for the American firm is up to $105 million, which includes earnouts.
Based in Pleasanton, California, Lodestone is a digital engineering quality assurance provider.
Tech Mahindra said that the acquisition of Lodestone will strengthen its end-to-end digital product engineering capability across design, build, and test. This will be by employing the expertise of Loadstone in the effective usage of data strategy and offering end-to-end product quality assurance across hardware, software, and data layers, said the Indian firm.
On the other hand, We Make Websites Limited will be acquired by Tech Mahindra’s fully-owned step down subsidiary — Born London Limited, UK for £9.4 million. We Make Websites Limited is engaged in building website and migration services of website on the Shopify Plus platform.
Tech Mahindra said that the acquisition of We Make Websites Limited will add to its capabilities in experience design pillar, while helping it build an industry leading Shopify practice.
Recently, Tech Mahindra acquired German IT consultancy service provider Beris consulting GmbH for €7 million.