Tech Mahindra Ltd.

Tech Mahindra, a specialist in digital transformation, consulting and business re-engineering, has signed a definitive agreement to acquire SOFGEN Holdings (SOFGEN), a niche consulting and services company with worldwide presence specializing in Private / Wealth, Commercial and Retail Banking solutions. The transaction is expected to close by March 2015, subject to regulatory approvals.

With this acquisition, Tech Mahindra will have the capability to offer a unique combination of ‘Change the Bank and Run the Bank’ services to Retail banking, Private Banking and Wealth Management customers globally.

SOFGEN has 450+ employees with 20+ Tier 1 client relationships. Delivering solutions in and around core banking the company has the 2nd largest pool of Avaloq consultants in the world and is Temenos’ most prolific partner.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.