Tech Mahindra shares gain over one percent on Monday after the technology major announced that it has acquired a 100 percent stake in Activus Connect, for $62 million including earnouts.

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Activus Connect, which was incorporated in 2018, is a leading provider of work at home customer experience management solutions.

The acquisition will bolster Tech Mahindra’s capability in the work-at-home Customer Experience Management (CXM) space, by employing Target’s unique delivery model and disruptive platform called SmartVirtual.

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"The acquisition will augment Tech Mahindra’s position as a leading digital transformation enabler in the Work at Home Customer Experience Management domain. Additionally, Tech Mahindra will leverage Activus Connect’s customizable omni-channels and AI-powered compliance analytics platform, SmartVirtual, to render a secure cloud-based ecosystem of technologies, analytics, and virtual management practices," the technology company added in the release.

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Vivek Agarwal, President – BFSI, HLS and Corporate Development, Tech Mahindra said, "WAH CXM is undergoing disruptive changes due to the pandemic and has given rise to exponential demand in the market. The acquisition of Activus will fill whitespace, with their unique delivery model, disruptive platform, and expertise in the WAH CXM industry that will add significant value to Tech Mahindra’s offerings and capabilities".

At 9:16 am, the technology company's stock was trading 0.8 percent higher at Rs 1,605.55 on BSE.

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First Published:Dec 6, 2021 9:47 AM IST