In a strategic move to bolster its digital transformation capabilities, Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services, has received board approval to merge its wholly-owned subsidiary, Eventus Solutions Group, into the parent company. This consolidation aims to streamline operations and enhance the delivery of comprehensive digital solutions to a global clientele.
Background of the Acquisition
Tech Mahindra acquired Eventus Solutions Group in April 2021 to strengthen its leadership in the front-office space and augment its consulting-led front-office solutions. Eventus, based in Denver, Colorado, is renowned for its expertise in customer experience (CX) transformation, offering services such as strategy consulting, cloud-based tools, and managed services. The acquisition was intended to provide Tech Mahindra with enhanced capabilities in delivering exceptional customer experiences across various channels.
Launch of Navixus: A Unified Digital Transformation Suite
Following the acquisition, Tech Mahindra and Eventus collaborated to launch Navixus™, a new business unit within Tech Mahindra’s Business Process Services (BPS). Navixus™ combines Tech Mahindra’s automation, analytics, and consulting expertise with Eventus’ CX transformation capabilities to offer a holistic digital transformation suite. The unit provides expanded services, including consulting, operational excellence, intelligent automation, generative artificial intelligence, and CX technologies. It also offers Contact Center as a Service (CCaaS), advanced analytics, and managed services, guiding customers from optimization to transformation.
Strategic Rationale for the Merger
The merger of Eventus into Tech Mahindra is a strategic step to integrate the strengths of both entities fully. By consolidating operations, Tech Mahindra aims to eliminate redundancies, optimize resource utilization, and enhance its ability to deliver seamless digital transformation services. This integration is expected to provide clients with unified solutions that address the complexities of modern business environments, thereby improving customer satisfaction and operational efficiency.
Leadership Perspectives
Milos Djokovic, CEO of Eventus, expressed enthusiasm about the merger, stating, “Infusing Tech Mahindra’s broad capabilities into our existing solutions will provide us even more scale, technology, and expertise than ever before, and deliver the future of customer experience to our collective global clients.”
Vivek Agarwal, President of Corporate Development at Tech Mahindra, highlighted the strategic importance of enhancing customer experience, noting, “The acquisition of Eventus Solutions Group will offer significant differentiation to our leadership in the rapidly growing consulting business and will enable us to drive cross-sell and downstream revenue.”
Implications for Clients and the Market
For existing clients of both Tech Mahindra and Eventus, the merger promises a more integrated service offering, combining deep industry expertise with advanced technological solutions. The unified entity is poised to address challenges such as evolving technologies, data security, skill gaps, and complex transformations, providing clients with a comprehensive suite of services to navigate the dynamic marketplace.
Future OutlookThe consolidation is expected to position Tech Mahindra as a more formidable player in the digital transformation landscape, enabling it to offer end-to-end solutions that cater to the diverse needs of its global clientele. By leveraging the combined strengths of Tech Mahindra and Eventus, the company aims to drive innovation, enhance customer experiences, and achieve sustainable growth in the competitive IT services market.
