Indian IT services major Tech Mahindra has announced the acquisition of a 4-year-old Netherlands-based IT firm Dynacommerce Holding BV for around Euro 15.9 million (around Rs 128 crore or $17.8 million) [Reference].
This acquisition will allow DynaCommerce to improve it‘s service for existing customers whilst Tech Mahindra’s status as an internationally renowned corporation will enable Dynacommerce to scale faster and pursue more opportunities on a global scale.
According to Tech Mahindra, this is a step to bolster the company’s 3-4-3 strategy which targets to capture 3 mega trends of connected devices, 5G and video explosion through its four core big bets on future technology investments to help in achieving customer’s 3 primary objectives of Running Better, Changing Faster and Growing Greater. One of the four big bets of Tech Mahindra is Delivering Connected Customer Experiences with the interplay of digital, design and convergence. Along with its previous acquisition of the BIO Agency (UK) and Pininfarina (Italy), this acquisition of DynaCommerce is a step forward to delivering on that promise.
Tech Mahindra will also bring additional Telco knowledge and capabilities including AI, Automation and Processes Management which will help to scale and improve DynaCommerce’s business offerings and market reach.
Founded in 2014, Dynacommerce provides end-to-end omni-channel solutions for mobile and fixed telco, cable, media and utility companies, with a goal of simplifying digital transformation to ensure agile digital service delivery. Their practical solutions are rapidly transforming the current way of service delivery, supporting all customer journeys and business models of today and the future, regardless of complexity. DynaCommerce sees working even closer with Tech Mahindra as the next step in its evolution enabling it to rapidly expand its horizon in multiple markets and across CSPs.
Rick Centeno, CEO of DynaCommerce, said, “We are very excited about becoming part of the Tech Mahindra solution ecosystem. We share the same vision on how to bring great customer experience to the digital world and this will give us the required resources and footprint to successfully scale to a global level.”
CP Gurnani, MD & CEO, Tech Mahindra, said, “Tech Mahindra’s focus has been on helping our customers to run digitally, change digitally and grow digitally. Our strategic investment in DynaCommerce will provide concrete support to our digital transformation strategy and enable a future proof and future ready digital experience to our customers.”