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New Delhi, Dec 12 () IT company Tech Mahindra on Thursday said it has bagged a smart city project worth Rs 500 crore from Pimpri Chinchwad Municipal Corporation (PCMC) in Pune.
 Through this project, Tech Mahindra will engage with more than 15 lakh citizens of PCMC in Pune district by enabling technology-led transformation to convert it into a smart and sustainable city.
 "Our association with PCMC outlines Tech Mahindra's TechMNxt strategy to leverage new generation technologies to deliver an enhanced experience to our customers. It extends our vision of supporting the government's Smart Cities agenda to strengthen nation-building initiatives that will go a long way in building a robust USD 5 trillion Indian economy," Sujit Baksi, Head APAC Business and President Corporate Affairs, Tech Mahindra, said here.
 As part of the project, Tech Mahindra will provide ICT (Information and Communication Tehcnology) infrastructure, comprising of technological solutions including city network, smart water, smart sewerage, smart traffic, smart parking, smart environment, CCTV surveillance, data center and disaster recovery center etc.
 "The first year will be for the roll out of the project. After that we will have another five years for maintenance," Tech Mahindra Head of India Sales Puneet Gupta.
 The company would also help in enabling real-time data management, alerts, and information processing to support city's administration.
 Tech Mahindra also has smart city projects in Kanpur, Gandhinagar, Nashik and Jaipur in its portfolio. PRS DRR

Tech Mahindra bags Rs 500-cr smart city project from Pune's PCMC

New Delhi, Nov 21 () IT services major Tech Mahindra on Thursday said it has signed an agreement with Business Finland for research and development in 5G and 6G.
 Tech Mahindra will develop, pilot and implement state-of-the-art digital products and services to foster growth, productivity and innovations in the area of 5G and 6G, a statement said.
 As part of the partnership, the Mumbai-based company will set up an innovation lab in Finland to foster growth and innovation, a statement said, adding that the facility will be a platform for key players in Finland such as universities, research institutes, government and companies to collaborate.
 "Business Finland will work together with Tech Mahindra to explore the possibility of establishing 5G/6G Innovation Hub in Finland. I am sure that this cooperation will be mutually beneficial and provide great opportunities for both Finland and Tech Mahindra," Finland's Minister for Employment Timo Harakka said.
 Jagdish Mitra, chief strategy officer and head of growth, Tech Mahindra said the Finnish technology ecosystem is one of the most progressive in Europe.
 "Their strategic focus on building 'technologies for the future' has been the cornerstone, and the initiative towards developing 6G technology and further working on 5G use-cases aligns well with our TechMNxt charter, which is our global initiative to leverage future technologies to solve real business problems," he added.
 The collaboration with Business Finland and the newly setup Innovation Centre will enable Tech Mahindra to leverage their expertise in this space and establish the company as a globally recognised leader in 5G and 6G, he said. SR RVK

Tech M, Business Finland ink MoU for R&D in 5G, 6G

<ul><li>Tech Mahindra, one of India’s tech giants, is going to be working on Airbus planes. </li><li>The company will help the European aircraft manufacturer with engineering its cargo and cabin design. </li><li>The skills and specialisation will help Tech Mahindra get a foothold in the aircraft cabin interiors market set to hit $40.81 billion by 2025. </li></ul>Tech Mahindra, one of the largest tech companies in India, is going to be working on Airbus planes. It has signed a multi-year contract with the European aerospace company to engineer its cargo and cabin design. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="306" retweetcount="24" status="Forgive me for being ‘late to the party’ @FranceinIndia but this is definitely worth celebrating. It illustrates th… https://t.co/hj9xIiH9jU" createdat="1564654607000" id="1156871389472628736"></div>

 Tech Mahindra can stated that its specialised skills and competencies will help it expand its cabin engineering business. It will help the company get a foothold in the aircraft cabin interiors market that’s set to hit $40.18 billion by 2025 at an annual growth rate of 5.87%, according to <a href="https://www.researchandmarkets.com/research/ptp9sj/40_bn_aircraft?w=12">Research and Markets.</a> Will the aviation sector growing as a whole and the demand for flights increasing as prices drop, the demand for technologically advanced aircraft cabins is also increasing. Airlines have also realised that it’s better to customise aircraft cabin interiors according to their requirements before the aircraft is delivered rather than trying to retrofit it later. Demand for a feature rich cabin The primary challenge facing aircraft manufacturers today is how to reduce the weight of aircraft seats and how to increase the capacity of cabins. And, uninterrupted in-flight connectivity has also become a must since entertainment revenue has become a secondary source of revenue for airlines. Every airline wants to offer as many features as possible in-flight but there are strict safety regulations that have to be adhered to. Companies like Tech Mahindra carry out the research and development required to bring in features like mood lights, LED lights, smart galleys, flat beds and flexible cabin dividers into an aircraft cabin without compromising on safety. Tech Mahindra currently <a href="https://www.techmahindra.com/industries/Enterprise/Manufacturing/Service_Offerings/aerospace_defense.aspx">serves</a> five of the top eight aircraft manufacturers in the world. In the past, Tech Mahindra has signed with Bombardier Commercial Aircraft to help them develop the Aircraft Ground Support System (<a href="https://www.techmahindra.com/media/press_releases/Bombardier-Selects-Tech-Mahindra-as-Supplier.aspx">AGSS</a>) for the company’s Aircraft Health Management System (AHMS) on their C-series of planes.

An Indian tech company will help Airbus design its aircraft cabins

<ul><li>The technology company’s consolidated profit after tax grew just 2.2% sequentially in October to December.</li><li>Shares of the company slipped nearly 4% on Wednesday as investors were disappointed with the marginal growth in profits.</li><li>Adding to it, more employees left <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> than at <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> in an industry that is struggling with high attrition rate.</li></ul>Shares of information technology (IT) firm Tech Mahindra slumped nearly 4% on February 2 as investors sold stocks after the company delivered lower than expected profits. The company's net profit increased 2.2% sequentially to ₹1,369 crore in October to December as compared to expectation of ₹1,454 crore consensus estimate of analysts tracked by <a href="https://www.bloombergquint.com/business/tech-mahindra-q3-results-profit-rises-22-but-misses-estimates-attrition-inches-up">Bloomberg</a>. While revenue is in line with expectations, weaker than expected margins and slower hiring is a concern, says analysts <a href="https://twitter.com/CNBCTV18Live/status/1488700416942829568">reportedly</a> at UBS investment banking firm. It also maintained a ‘sell’ rating on the stock with a target price of ₹1,260 per share. Adding to it, more employees are leaving Tech Mahindra than TCS and Wipro in an industry that is struggling with a high attrition rate. However, Tech Mahindra is not the only firm struggling with high attrition, every other IT firm is getting more resignations than ever before. Infosys has the highest attrition rate in the industry. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate in Oct-Dec </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.3% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>“We continue to strengthen our presence, deliver broad-based profitable growth and value for our customers, backed by future-ready talent and niche digital capabilities,” said CP Gurnani, managing director and chief executive officer at Tech Mahindra. Tech Mahindra’s total headcount has increased by 19% on a yearly basis to 1.45 lakh as on December quarter. <div type="image" title="tech mahindra" height="900" width="1200" msid="89291795" hostid="261"></div> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra Q3 results </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth QoQ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth YoY </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth in dollar terms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-nirmala-sitharaman-was-asked-these-10-questions-on-cryptocurrency-employment-inflation-in-india/slidelist/89280855.cms">India’s finance minister was asked these 10 questions and these were her answers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/india-budgets-2022-for-a-trickle-down-as-slow-as-that-might-be/articleshow/89280984.cms">India budgets for a trickle down ⁠— as slow as that might be</a>

More employees are leaving Infosys, Tech Mahindra than TCS and Wipro

New Delhi, Jan 28 () IT services major Tech Mahindra on Tuesday said it has set up a dedicated Google Cloud Centre of Excellence (CoE) in Hyderabad to drive digital transformation of enterprises globally.
 The CoE will provide enterprises with access to the technology and services they need to expedite their cloud migration and deliver tailored solutions to help them move critical workloads to Google Cloud, develop their Artificial Intelligence (AI) and data analytics solutions and improve workplace productivity, a statement said.
 The Centre will offer clients a full spectrum of cloud services that include consulting, assessment, migration, optimisation and support services for enterprises looking to optimise their workloads on Google Cloud, it added.
 "Tech Mahindra's deep industry expertise and proven solutions that focus on seamless modernisation of infrastructure, applications and data to the cloud, combined with the power of Google Cloud will help accelerate the Cloud journey for enterprises as they move towards a digital-first future," Tech Mahindra Global Head Cloud Services Vivek Gupta said.
 He added that as part of its TechMNXt charter, Tech Mahindra is focused on leveraging next-generation technologies to enable its customers drive growth and enhance customer experience. SR SHW
SHW

Tech Mahindra sets up Google Cloud Centre of Excellence in Hyderabad

New Delhi, May 15 () Makers Lab, the research and development arm of Tech Mahindra, on Friday said it has leveraged Artificial Intelligence to conduct research and find potential therapeutic drugs for treatment of COVID-19."Testimony of a strong synergy amongst academia, businesses and independent researchers to fight a global pandemic, Tech Mahindra is also collaborating with a renowned bio-scientist ( Uday Saxena) for plausible therapeutic drugs and research laboratories for synthesizing and testing these compounds," a statement said.Tech Mahindra MD and CEO CP Gurnani said COVID-19 continues to disrupt the socio-economic order, impacting lives and livelihood globally. "As a leading global digital transformation provider, Tech Mahindra is not only committed to ensuring the well-being of our employees, customers and partner ecosystem; but we are also invested in finding a potential cure for COVID-19 by leveraging cutting edge and futuristic technologies like AI," he said.Tech Mahindra's Makers Lab aims to promote technology innovation and recognize transformative ideas that have a potential to make a difference and create disruptive solutions to solve real world problems. The R&amp;D team has used molecular docking approach because of high transmission rate of COVID-19, the statement said."Our objective was to prevent the entry of virus into human host cells such as lung airway epithelial cells. This is important because the high transmission rates of COVID-19 is attributed partly to the high affinity binding and entry of the virus into host cells. Once the virus cannot enter the host cell, it is harmless," Nikhil Malhotra, Global Head of Makers Lab said.He added that the unit's strategy included finding a GRAS (generally recognized as safe) agent which can inhibit the virus and Makers Lab has successfully utilised two areas of research - one is molecular docking on approved FDA compounds and medicines. Use of AI helped the research team to evaluate multiple scenarios with different parameters while finding how molecules dock with the main protease, he said.The technique, molecular docking, enables search for therapeutically potent drugs and molecules in real time, to find compounds which can act as inhibitors against a viral protein computationally. Tech Mahindra conducted molecular docking studies across 19 FDA (Food and Drug Administration) approved ligands and anti-viral drugs on the main protease of the virus, the statement said."There is more work needed to be done to move the process from molecular docking to actual drug design, testing and drug development at scale. This is just the first step, where computational analysis can reduce the amount of time taken to narrow down the search amongst the vast array of molecules present in the process of finding a cure to COVID-19," it noted.As part of the TechMNxt charter, Tech Mahindra's Makers Lab is focused on developing future-ready solution by leveraging next gen technologies such as AI, Machine Learning, Robotics, Internet of Things (IoT), Augmented Reality/ Virtual Reality and 5G. SR ANUANU

Tech Mahindra R&D unit leverages AI for research on potential therapeutic drugs for COVID-19

IT major <keyword id="43217" type="DOMAIN" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> on Monday posted a 34.6 per cent rise in consolidated net profit to ₹1,081.4 crore for the March 2020 <keyword id="6545597" type="UNKNOWN" weightage="20" keywordseo="quarter">quarter</keyword>. Its net profit stood at ₹803.9 crore in the corresponding period a year ago, Tech Mahindra said in a regulatory filing. The Mumbai-based company saw its <keyword id="1153513" type="PERSON" weightage="20" keywordseo="consolidated-revenue">consolidated revenue</keyword> from operations increasing 2.5 per cent to ₹9,729.9 crore as against ₹9,490.2 crore in the year-ago quarter, it added. For the full financial year, the net profit was up 9.8 per cent to ₹4,428 crore, while revenue from operations was higher by 2.7 per cent to ₹37,855.1 crore as compared to 2019-20. Tech Mahindra Managing Director and Chief Executive Officer C P Gurnani said, "Our continued focus on cutting-edge technologies has expanded client engagement with large deal wins this quarter. We are witnessing a strong demand acceleration." He added that the health and wellness of Tech Mahindra associates and community at large. <keyword id="1118568" type="PERSON" weightage="20" keywordseo="Milind-Kulkarni">Milind Kulkarni</keyword>, chief financial officer at Tech Mahindra, said the company has witnessed substantial margin improvement and cash flow generation during the year. "Our focus on delivery transformation will continue, as we increasingly witness a structural shift towards digital to adapt to the new normal. We are positioned uniquely to gain from this shift, while improving our financial and operating metrics going forward," he added. The board of directors have recommended a final dividend of ₹30 per share (including <keyword id="1729046" type="PERSON" weightage="20" keywordseo="special-dividend">special dividend</keyword> of ₹15 per share) for the financial year ended March 31, 2021, subject to shareholder approval. The special and final dividend, if approved, will be paid by August 11, 2021. This dividend is in addition to the special dividend of ₹15 per share paid as interim dividend. The total dividend for 2020-21 will be ₹45, the filing said. Tech Mahindra has also announced the acquisition of Eventus Solutions Group, a US-based consulting and technology service company. The acquisition will help Tech Mahindra bolster its consulting capabilities in customer experience (CX) and customer management space and move up the value chain in the BPS business. Tech Mahindra's total headcount stood at 1,21,054 at the end of March 2021 quarter, down 847 from the preceding quarter. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/sundar-pichai-and-satya-nadella-will-use-google-and-microsoft-resources-and-technology-to-support-india-during-the-covid19-crisis/articleshow/82253126.cms">From Sundar Pichai to Satya Nadella – Indian-Americans wake up to the COVID-19 crisis at home</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-what-is-proning-and-how-can-it-help-you-increase-oxygen-levels-at-home/articleshow/82251671.cms">COVID-19 – What is proning and how can it help you increase oxygen levels at home</a> <a href="https://www.businessinsider.in/business/startups/news/upgrad-gets-its-first-external-funding-from-singapore-based-temasek/articleshow/82253861.cms">Edtech startup upGrad gets its first external funding – a $120 million cheque from Temasek</a> <a href="https://www.businessinsider.in/science/health/news/maharashtra-kerala-and-chhattisgarh-states-are-on-top-covid-19-positivity-rate-in-india/articleshow/82254421.cms">COVID-19: These are the five states in India with the highest positivity rates</a>

Tech Mahindra Q4 net profit jumps 34.6% to ₹1,081.4 crore

New Delhi, Jan 31 () IT services firm Tech Mahindra on Friday reported a 4.7 per cent decline in its consolidated net profit at Rs 1,145.9 crore for the December 2019 quarter.
 The Mumbai-based firm had registered a net profit (attributable to owners of the company) at Rs 1,202.9 crore in the corresponding quarter of the last fiscal, Tech Mahindra said in a statement.
 However, its revenue from operations grew 7.9 per cent to Rs 9,654.6 crore in the quarter under review from Rs 8,943.7 crore in the year-ago period, it added.
 Earnings per share (EPS) was at Rs 13.13. In dollar terms, the net profit was up 1.3 per cent sequentially to USD 160.6 million, while revenue grew 5.1 per cent to USD 1,353 million in the said quarter.
 This is a quarter of strong growth across the company's Communications and Enterprise businesses, Tech Mahindra Managing Director and CEO C P Gurnani said.
 "We continue to win marquee deals and are well poised to capitalise on new market opportunities with technology shifts like 5G, which continues to be a key focus area in the year ahead," he added.
 The company's total headcount was at 1,30,839 people, a reduction of 683 people from the September 2019 quarter.
 The company witnessed substantial operational and financial metrics improvement with healthy cash flow generation this quarter, Manoj Bhat, chief financial officer at Tech Mahindra said.
 "We continue to invest in emerging technologies and streamline delivery as we ready ourselves for the next phase of growth," he added.
 Tech Mahindra also announced the acquisition of 70 per cent stake in Bengaluru-headquartered Cerium Systems.
 "Cerium will boost the company's Engineering Services practice in VLSI (very large scale integration) and Embedded Software.
 "We continue to invest in niche digital assets complementing our service offerings. Cerium provides cutting edge solutions with a strong foothold in global semiconductor industry," Tech Mahindra Head of Corporate Development and Portfolio Companies Vivek Agarwal said.
 Shares of Tech Mahindra closed marginally higher at Rs 796.00 on the BSE on Friday. SR SHW
SHW

Tech Mahindra Q3 net profit dips 4.7% to Rs 1,146 cr

Continuing its acquisition spree, <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, the IT arm of the <keyword id="6355744" type="CITY" weightage="100" keywordseo="Mahindra-Group">Mahindra group</keyword>, has agreed to buy UK-based digital technology firm <keyword id="3436035" type="UNKNOWN" weightage="100" keywordseo="The-BIO-Agency">The BIO Agency</keyword> for an enterprise value of 40 million pounds. The deal also includes a surplus cash component not exceeding more than 5 million pounds. 
 
It was only last month that the company had bought UK-based financial services firm Target Group in a deal that was valued at more than 112 million pounds. 
 "The BIO Agency and Tech Mahindra will create one of the world's leading innovation practices. A combination of BIO's visionary thinking and delivery with Tech Mahindra's IT to Digital Transformation strategy will enable and create digital services," said Tech Mahindra CEO <keyword id="45959" type="ORGANIZATION" weightage="100" keywordseo="CP-Gurnani">CP Gurnani</keyword>. 
 
As per the deal, the company will pay 22 million pounds and the surplus cash upfront while the rest will be deferred, depending on how BIO Agency performs. 
 
The rewards given to the management of BIO Agency will also depend on the revenue that tbey will be bringing in over the next three years. 
 
For fiscal 2016, BIO had revenue of 12.5 million pounds, while for the year before that, it had revenue of 5.2 million pounds. 
 
<a href="http://easynaukari.com/wp-content/uploads/2015/11/tech-mahin.jpg">Image source</a>

Tech Mahindra continues to expand, buys UK-based digital firm for £40 million

<keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, in a period of four years is leading the pack through strategic acquisitions that complement its inherent strengths and capabilities. As a result, at a time when the IT industry is suffering from tapering growth, Tech Mahindra has adapted to the changing times and developed skills in digital technologies to not just survive the competition but also grow consistently even amidst controversial layoffs. Business Insider caught up with Jagdish <keyword id="2481" type="PERSON" weightage="20" keywordseo="Mitra">Mitra</keyword>, Chief Strategy &amp; Marketing Officer, Tech Mahindra, to understand the journey of the company and how it ensures hiring and retaining the best people, “One of the ways we stay relevant is by working closely with start-ups through a subsidiary, Tech Mahindra Growth Factories. The objective of Growth Factories is to incubate disruptive and futuristic internal and external innovative ideas apart from funding those.” Two out of the four start-ups incubated by Growth Factories are from an Edtech background. UpX Academy is an online training institution that provides a robust and advanced curriculum through its Big Data, Data Analytics &amp; Machine Learning courses. Designed by industry experts, these courses are aimed at integrating real-world applications through case studies, exercises and real-world datasets enabling professionals at work to enhance their skill sets in the mentioned trending technological verticals. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="59730212" title="Here’s why Pepperfry is taking the Omni-channel route before IKEA enters the Indian market" rank="1.0" kind="RELATED" publishDate="Jul 24, 2017, 10:00 AM" mstype="2" mssubtype="0"></div></div> <keyword id="4822055" type="UNKNOWN" weightage="20" keywordseo="education-lanes">Education Lanes</keyword> is another virtual- interactive learning platform that provides cloud-based education and training services for Working professionals. The start-up specialises in providing premium quality Executive Management courses and top-class vocational and skill development courses to prepare professionals for better opportunities, to accelerate their careers and to aid them in adding additional value to the business. 

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Both these start-ups have been supporting and strengthening the employees’ in-house to upskill and reskill for growth in their respective jobs. With a workforce of over 117,000 employees who are looking to transition to the next generation technologies, these training provisions have made TechM a great choice of workplace for employees. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="59806315" title="This company is helping millennials to never settle down in one city" rank="1.0" kind="RELATED" publishDate="Jul 28, 2017, 2:17 PM" mstype="2" mssubtype="0"></div></div>


 “Cost advantage had been one of the biggest factors that drove the growth of India’s IT outsourcing services industry, but since then the client requirements have been changing due to advancement in technology and digitisation. Professionals are realising the need to upgrade their skills in order to cater to the evolving requirements of the clients and with the correct skill sets, they are able to perform better at their roles and are able to fast-track their careers and get better opportunities on the professional front,” says Mitra who said that with changes in the technology over the past few years, there has been a lot of interest to understand and learn about <keyword id="4822054" type="UNKNOWN" weightage="20" keywordseo="data-analytics-and-data-sciences">Data Analytics and Data Sciences</keyword> and they remain the most sought-after courses for IT professionals.

Here’s how Tech Mahindra is using start-ups to ensure retention of their best IT employees

<keyword id="43217" type="General" weightage="100" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> on Friday said it has approved a proposal for the acquisition of a 100 per cent stake in <keyword id="12852751" type="General" weightage="80" keywordseo="allyis-india" source="Orion">Allyis India</keyword> and <keyword id="894535" type="General" weightage="80" keywordseo="green-investments" source="Orion">Green Investments</keyword>, for a total consideration of up to $125 million. The acquisition is expected to bolster Tech Mahindra's capabilities in digital experience solutions - learning and development, marketing, instructional design; and engineering - cloud and automation, analytics, and technical support services. Tech Mahindra would pay total consideration of up to $125 million, including employment-related and performance-related earnouts, the company said in a regulatory filing. "...the company approved the proposal to acquire 100 per cent equity shares in Allyis India Private Limited and the company's wholly-owned subsidiary viz., Tech Mahindra (Americas) Inc. approved the proposal to acquire 100 per cent equity shares in Green Investments LLC, holding company for Allyis Group," Tech Mahindra said in a BSE filing. The target entity is headquartered in Seattle, USA and has more than 660 employees. "For the financial year ending December 31, 2020, the target had revenue of $39.6 million," it said. Outlining the details of the target, Tech Mahindra said it offers technology consulting and managed services that help organisations reduce costs and improve performance. While Allyis India Pvt Ltd was incorporated in 2018, Green Investments LLC was incorporated in 2013. The turnover of the two entities stood at $39.6 million in the calendar year 2020. "The CY21 (the calendar year 2021) turnover, for the first 11 months starting 1 January 2021 to 30 November 2021 is at $45.7 million," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-acquires-uk-battery-tech-company-faradion/articleshow/88606195.cms">Mukesh Ambani’s clean energy vision gets a New Year boost with the acquisition of this UK battery tech company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/social-media-in-2022-expectations-predictions-and-everything-new-that-may-arrive-on-the-platforms/slidelist/88595320.cms">Social media in 2022 — Expectations, predictions and everything new that may arrive on the platforms</a>

You Searched For "Tech Mahindra technology" and got 11 results

Tech Mahindra bags Rs 500-cr smart city project from Pune's PCMC

PTI

Tech M, Business Finland ink MoU for R&D in 5G, 6G

PTI

An Indian tech company will help Airbus design its aircraft cabins

Prabhjote Gill

More employees are leaving Infosys, Tech Mahindra than TCS and Wipro

Bhakti Makwana

Tech Mahindra sets up Google Cloud Centre of Excellence in Hyderabad

PTI

Tech Mahindra R&D unit leverages AI for research on potential therapeutic drugs for COVID-19

PTI

Tech Mahindra Q4 net profit jumps 34.6% to ₹1,081.4 crore

PTI

Tech Mahindra Q3 net profit dips 4.7% to Rs 1,146 cr

PTI

Tech Mahindra continues to expand, buys UK-based digital firm for £40 million

BI India Bureau

Here’s how Tech Mahindra is using start-ups to ensure retention of their best IT employees

Tanya Dubey

Tech Mahindra buys US-based Allyis India, Green Investments for $125 million

PTI

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