Tech Mahindra buys 70% stake in Perigord By CioreviewIndia Team

Tech Mahindra buys 70% stake in Perigord

CioreviewIndia Team | Monday, 15 March 2021, 09:05 IST

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Tech MahindraTech Mahindra one of the biggest Digital transformation services provider of India, on Monday announced it has acquired 70 percent stake in Perigord, a supplier of consultancy and labelling artwork solutions to the pharmaceutical industry globally, for an undisclosed sum.

The Company states, this attainment will help Tech Mahindra to enlarge and expertise in the global pharmaceutical, healthcare and life science (HLS) sectors.

Vivek Agarwal, President, BFSI, HLS and Corporate Development, Tech Mahindra states, “Perigord's disruptive proprietary platform and expertise in the artwork space and life sciences industry will add significant value to our offerings and capabilities."

The acquisition is a part of Tech Mahindra's long-term plan to build presence across key markets in Ireland, Germany, the US and India with enhanced global delivery.

Vivek added, "Healthcare and Life sciences (HLS) is a key vertical for Tech Mahindra and this acquisition will expand our footprint globally in these domains.”

Tech Mahindra will also 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.

Alan Leamy, (CEO), Perigord Asset Holdings states,  "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 10 years."

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