Brainscale, founded in 2007 by Phani Tipparaju and Vineet Bhatia, has expertise in cloud consulting, enablement, application development and data analytics
A New Jersey based cloud consulting firm – Brainscale will be acquired by the Pune based information technology (IT) services firm Tech Mahindra for $28.8 million (Rs 214 crores) including earn-outs, in an all cash transaction, it said in a regulatory filing on Saturday.
Tech Mahindra’s capabilities in the cloud transformation domain will be strengthened by the acquisition and also, the company will be able to drive the growth of cloud related IT services in the North American market, the company said in a filing with the stock exchanges.
The 100 per cent acquisition of the cloud consulting firm will close by 15 August 2021, said the filing.
Brainscale, founded in 2007 by Phani Tipparaju and Vineet Bhatia, has expertise in cloud consulting, enablement, application development and data analytics. The company also has an advanced specialisation for Windows/SQL, app modernisation, Kubernetes and open source database migration to cloud.
Apart from the US, the company which has offices across Canada and Pune and Bengaluru in India, has a workforce of 120 people. For the financial year ended December 31, 2020, it reported revenues of $10 million.
To strengthen existing lines of business, Tech Mahindra has made multiple acquisitions during the year. These include the acquisition of Eventus Solutions Group in April for $44 million as part of its business process services (BPS) business and a $120 million acquisition of cloud automation and DevOps services provider DigitalOnUs. To strengthen its healthcare BPS business, Tech Mahindra bought 70 per cent stake in Perigors in March.
Also read:DigiYatra: A paperless journey experience for domestic air traveller
Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter
