Tech Mahindra acquires 70% stake in Perigord
New Delhi, March 15 (IANS) 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.
“Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains,” Agarwal added.
Tech Mahindra will also leverage Perigord’s expertise and offerings to extend capabilities towards delivering efficiency and automation levers, across sectors including consumer-packaged goods (CPG), medical devices and over the counter (OTC) products to enable growth and scalability in the future.
“Both companies’ future ambitions and desires to digitally transform the world of pharmaceutical packaging services will deliver long term innovative solutions to our clients that will future proof their needs over the next 10 years,” said Alan Leamy, (CEO), Perigord Asset Holdings Ltd.