Tech Mahindra to buy 70% stake in Perigord Asset Holdings

Tech Mahindra on Monday said it will acquire a 70 per cent stake in BPO services firm Perigord Asset Holdings Ltd to augment its expertise in the global pharmaceutical, healthcare and life science sectors.

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, medical devices and over the counter products, to enable growth and scalability in the future, the company said in a statement.

''Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains.

''Perigord's proprietary platform and expertise in the artwork space and life sciences industry will add significant value to our offerings and capabilities. We welcome Perigord employees into the Tech Mahindra family,'' Vivek Agarwal, President -- BFSI, HLS and Corporate Development -- at Tech Mahindra, said.

The acquisition is a part of Tech Mahindra's long-term growth plan to build presence across key markets in Ireland, Germany, USA, and India with enhanced global delivery.

''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 ten years,'' Alan Leamy, Chief Executive Officer of Perigord Asset Holdings Ltd said.

Perigord has a global base of over 400 designers, analysts, and developers spread across Ireland, Germany, USA, and India.

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