Tech Mahindra approved the proposal to acquire 100% equity shares in Mumbai-based Thirdware Solutions for total consideration of up to USD 42 million including earnouts. The transaction is expected to be completed by 31 May 2022.
Thirdware is a global player in Enterprise Applications focused in the areas of ERP, BIA, Cloud and business technologies. Thirdware offers consulting, design, implementing, and support of enterprise applications services with a focus on the Automotive industry.
The acquisition will bolster Tech Mahindras digital solutions and services in automotive consulting, design, development, and implementation in areas like ERP (Enterprise Resource Planning), EPM (Enterprise Performance Management), RPA (Robotic Process Automation), and IIoT (Industrial Internet of Things). Thirdwares capability to provide end-to-end implementations and global rollouts of ERP solutions will give Tech Mahindra an edge in the manufacturing space.
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