Tech Mahindra acquires UK digital firm The Bio Agency

IT services provider Tech Mahindra on Wednesday said it has acquired The BIO Agency (BIO). It is a UK-based agency that offers digital services to global clients and engages with their customers. Tech Mahindra acquired the British firm for 45 million pounds (Rs 445 crore).

The BIO Agency services brands across financial services, retail, property, travel, and technology sectors and the acquisition will help them make sizeable inroads into Fortune 100 / 500 telecommunications and enterprise clients of Tech Mahindra, the company said in a statement.

Tech Mahindra has embraced the future with its focus on digital and sees this as an important strategic move. The acquisition will further strengthen and enable the company to engage with its clients at the start of the journey and more importantly, help design the customer experience for their businesses.

"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 DT (Digital Transformation) strategy will enable and create digital services, that get industries ready beyond just technology transformation, but a larger integrated customer experience," CP Gurnani, MD & CEO, Tech Mahindra said.

The acquisition will open up more clients for BIO globally (especially in Europe and the US), scaling their offerings and enabling new services and deeper digital change. This will significantly help enhance BIO's offerings in people, turnover and market impact. BIO will continue to further invest into its people and its propriety thinking, the firm said in the statement.

"We are looking forward to the next stage of BIO's journey. With a partner like Tech Mahindra, we plan to further scale our offering, continuing to help clients change the way they engage with their customers," said Peter Veash, CEO, The BIO Agency.