Tech Mahindra acquires technology firms, Momenton & Tenzing
In an announcement made by Tech Mahindra, the company reported its strategic acquisition of 100% of Momenton, and Tenzing Ltd.
Its acquisition of both companies is said to further advance the company’s digital capabilities, modern cloud based architecture and transformation for its customers in Australia and New Zealand in multiple sectors including financial services.
"The acquisition of Momenton and Tenzing Ltd, are in line with our strategy to strengthen our digital capabilities, and offer our clients end-to-end transformation services. This will significantly enhance our local presence in the markets, and the combination will create significant synergies and help in bringing next generation solutions to customers enabling them to run better, change faster and grow greater. We welcome the team of Momenton and Tenzing Ltd into the Tech Mahindra family, and look forward to creating and delivering enhanced customer experiences for our customers,” commented Vivek Agarwal, Head Corporate Development & Global Head for Healthcare and Financial Services, Tech Mahindra.
Headquartered in Melbourne, Momenton is a digital enterprise technology firm, providing consultant and implementation services in relation to agility, product enablement, engineering and emerging technology. Similar to Momenton, Tenzing Ltd, is a management and technology consultant which provides business strategy, insurance core system transformation, program management and target operating model services.
The acquisition of both consultant companies underpins Tech Mahindra’s ambitions to drive digital growth by leveraging next generation technologies and solutions to address real world problems.
"The addition of Momenton and Tenzing Ltd will further strengthen Tech Mahindra's position in the ANZ marketplace, especially in the Financial Services sector, enabling the organisation to deliver a comprehensive suite of technology, stronger onsite services and enhanced customer experience. Tech Mahindra through its distributed delivery model will enable Momenton and Tenzing Ltd to amplify and deliver a wider range of services to our combined customer base,” added Jeff Ferdinands, Country Head – ANZ, Tech Mahindra.