Tech Mahindra is building up its A/NZ digital services presence with the double acquisition of Melbourne-based Momenton and New Zealand’s Tenzing.
Financial details haven’t been disclosed, but the deals will form part of Tech Mahindra's TechMNxt charter, focused on building and delivering technology solutions and services.
The acquisition of both organisations “will enable digital capabilities, modern cloud-based architecture and transformation for customers in A/NZ in financial services and other sectors,” the India-based IT services provider said.
“The addition of Momenton and Tenzing will further strengthen Tech Mahindra’s position in the A/NZ marketplace, especially in the financial services sector, enabling the organisation to deliver comprehensive suite of technology, stronger onsite services and enhanced customer experience,” Tech Mahindra A/NZ country head, Jeff Ferdinands said.
“Tech Mahindra through its distributed delivery model will enable Momenton and Tenzing to amplify and deliver a wider range of services to our combined customer base.”
Melbourne-based Momenton was founded in 2015 and has about 50 employees on its books specialising in the ‘digital enterprise’ offering consultancy and implementation services in enterprise agility, product enablement, engineering and emerging technology with advanced capabilities in digital engineering and cloud native architectures.
Momenton founder Bobby Singh said the acquisition represented an important step in its growth journey.
“It provides our organisation and its people with extensive global reach and the ability to tap into significantly more opportunities in this fast-growing market,” Singh said. “This acquisition will further enhance and strengthen our client relationships and enable us to expand the set of capabilities and services we currently offer by drawing on the combined experience of Momenton and Tech Mahindra.
Management and technology consultancy Tenzing was founded in 2005 with offices in Auckland and Wellington, employing more than 140 staff.
“Joining forces with Tech Mahindra will enable Tenzing to rapidly scale up our existing service offerings and facilitate the provision of a wider range of solutions to our existing and new customers in the A/NZ region,” Tenzing joint managing directors Chris Day and Suri Bartlett said. “We are pleased that Tech Mahindra is expecting to leverage Tenzing’s strong capabilities in the market.”
Tech Mahindra head of corporate development, healthcare and financial services Vivek Agarwal added the acquisitions were in line with its strategy to strengthen its digital capabilities, and offer clients end-to-end transformation services.
“This will significantly enhance our local presence in the markets, and the combination will create significant synergies and help in bringing next generation solutions to customers enabling them to run better, change faster and grow greater,” he said.
“We welcome the team of Momenton and Tenzing into the Tech Mahindra family, and look forward to creating and delivering enhanced customer experiences for our customers.”