2 months ago
94
Tech Mahindra has acquired Orchid Cybertech Services Inc (OCSI), a business process outsourcing firm in Philippines that is a service provider to Australia’s TPG Telecom.
The acquisition of 100% shareholding is for Australian $5 million and undertaken through wholly owned subsidiary vCustomer Philippines Inc., the IT services and consulting firm said on Tuesday.
Besides strengthening Tech Mahindra’s “long standing relationship” with TPG, the deal will aid in expanding existing customer experience capabilities and business in the Philippines. The acquisition will facilitate the transition and enable incremental revenue to be realised.
“As part of the 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,” it said in a filing.
OCSI, which provides customer experience related services to TPG Telecom, has about 2,950 full time employees and for the financial year ended July 31, 2023 reported turnover of US $37.3 million. OCSI was incorporated in October, 2004 in Philippines and had turnover of US $34.8 million and US $29.9 million in FY22 and FY21 respectively.
