India’s deal street continues to be active even though the Covid-19 pandemic is still raging in parts of the country. Tech Mahindra on Monday said it will acquire a 70 per cent stake in Perigord Asset Holdings Ltd (Perigord) for an undisclosed sum.
Perigord specialises in providing end-to-end packaging supply chain solutions to the life sciences industry such as artwork & labelling services, strategic consultancy and outsourcing.
Tech Mahindra will acquire the Indian subsidiary of Perigord Perigord Data Solutions India Pvt Ltd and Perigord Premedia (India) Pvt Ltd, while Mahindra Engineering Services (Europe) Ltd, a group firm, will acquire the other legal entities of Perigord.
Why Tech Mahindra shares rose over 2% today
Tech Mahindra share price rose as much as 2.35 per cent to hit intraday high of Rs 1027.50 after the company received its board approval for acquisition of 70 per cent stake in BPO services firm Perigord Asset Holdings
BusinessToday.In | March 15, 2021 | Updated 14:30 IST
Tech Mahindra to acquire 70% stake in Perigord Asset Holdings
Tech Mahindra share price gained over 2 per cent in intraday trade on BSE on Monday, in an otherwise weak broader market, after the company received its board approval for acquisition of majority stake in Perigord Asset Holdings Limited. In contrast, the BSE Sensex was trading 764 points or 1.51 per cent lower at 50,027.
By siliconindia | Monday, 15 March 2021, 10:13 Hrs Digital transformation services provider Tech Mahindra on Monday announced it has acquired 70 per cent stake in Perigord, a leading supplier of consultancy and labelling artwork solutions to the pharmaceutical industry globally, for an undisclosed sum. This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors, the company said in a statement. Perigord s disruptive proprietary platform and expertise in the artwork space and life sciences industry will add significant value to our offerings and capabilities, said Vivek Agarwal, President, BFSI, HLS and Corporate Development, Tech Mahindra. The acquisition is a part of Tech Mahindra s long-term plan to build presence across key markets in Ireland, Germany, the US and India with enhanced global delivery.
Read more about Tech Mahindra acquires 70% stake in Perigord to augment pharma expertise on Business Standard. Digital transformation services provider Tech Mahindra acquired 70 per cent stake in Perigord, a leading supplier of consultancy and labelling artwork solutions to the pharma industry