Tech Mahindra has acquired 70 per cent stake in Perigord Asset Holdings Limited (Perigord), a digital workflow and artwork, labelling and BPO services firm. This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors.
Through this acquisition, the Indian IT firm will strengthen its position as the leading digital transformation enabler in the artwork and packaging services space with an integrated platform and services portfolio.
In addition, Tech Mahindra will 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.
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.
Vivek Agarwal, President – BFSI, HLS and Corporate Development, Tech Mahindra, said, “Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains. Perigord’s disruptive 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 and look forward to achieve great success together.”
Alan Leamy, Chief Executive Officer, Perigord Asset Holdings Limited, said, “We are excited and looking forward to joining forces with the Tech Mahindra family as this partnership is the perfect mix of scale, technology, expertise and timing that will enable the company to continue our journey as the world’s leading provider in pharmaceutical labelling, artwork and workflow solutions. 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.”