Tech Mahindra announced that they had purchased a 100 per cent stake in Allyis India and Green Investments for $125 million in an all-cash deal. The entities, Allyis India Pvt Ltd and Green Investments LLC holding companies for Allyis Group, also called Target, is based in Seattle and has over 660 employees. Target had reported earnings of $39.6 million for FY 2020.

The company said in a BSE filing that the investment would strengthen Tech Mahindra’s abilities in digital experience solutions like learning & development, marketing, instructional design, cloud & automation, BI & analytics and technical support services. The last three year’s total turnover for both of the entities was $39.6 million in FY20, $34 million in FY19 and $31 million in FY18. The FY21 turnover from Jan 1, 2021. to Nov 30, 2021, was at $45.7 million.