IT firm Tech Mahindra has acquired a 70% stake in Périgord Asset Holdings, the end of a packaging supply chain solution provider for the life sciences industry, for 21 million euros.
Headquartered in Dublin, Ireland, subsidiaries in Périgord and a global center of creative and packaging excellence in Hyderabad. It has more than 380 employees.
The acquisition will enable Tech Mahindra to specialize in the global pharmaceutical, healthcare and life science (HLS) sectors. It is a part of the company’s long-term growth plan to build a presence in key markets in Ireland, Germany, the US and India with global growth, a release said.
While the transaction related to the 70% stake is expected to close by March 19, Tech Mahindra plans to regain the balance, with a 30% stake tied to the company’s financial performance over the next four years.
Tech Mahindra will acquire Indian subsidiaries of Perigord – Perigord Data Solutions India and Perigord Premedia (India), while Mahindra Engineering Services (Europe) will acquire other legal entities of Perigord.
Périgord specializes in packaging artwork and labeling services, strategic consulting, creative and digital, strategic outsourcing, managed services and software solutions. The release said the partnership would strengthen Tech Mahindra’s position as a leading digital transformation enabler in the field of artwork and packaging services with an integrated platform and services portfolio.
Additionally, Tech Mahindra will leverage Perigard’s expertise and offerings to deliver efficiency and automation levers across sectors including consumer-packaged goods (CPGs), medical devices and counter (OTC) products to enable future growth and scalability. To be expanded.
President of Tech Mahindra – BFSI, HLS and Corporate Development Vivek Aggarwal welcomed the Perigord employees to the Tech Mahindra family.
“This partnership is the right mix of scale, technology, expertise and timing that will enable the company to continue our journey as the world’s leading provider of pharmaceutical labeling, artwork and workflow solutions,” said Alan Lemmy, CEO of Perigord Asset Holdings . “
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