Tech Mahindra to acquire 100% stake in Orchid Cybertech Services Inc.

Tech Mahindra announced that the Company through its wholly owned subsidiary viz., vCustomer Philippines Inc. has today i.e. 20 February 2024 at 05:55 a.m. (IST), approved the acquisition of 100% equity shares in Orchid Cybertech Services, Inc, (OCSI) for a cash consideration of AUD 5 million.

Orchid Cybertech Services Inc. (OCSI) provides Customer experience related services to TPG Telecom. It has about 2,950 full time employees. The turnover of OCSI for the FY ended on July 31, 2023 was US$37.3 Mn.

Tech Mahindra has long standing relationship with TPG Telecom (TPG). This deal further strengthens the relationship with TPG and aids in expanding existing customer experience capabilities and business in the Philippines. Acquisition of OCSI will facilitate this transition and enable incremental revenue to be realized. As part of this transaction OCSI, including its assets and employees, will become part of Tech Mahindra and Tech Mahindra will provide customer support and other services to TPG.

 

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