Indian IT services firm Tech Mahindra has announced the acquisition of New Jersey-based cloud consulting firm and Microsoft partner Brainscale. The deal is valued at USD$28.8 million cash, according to a regulatory filing by the company.
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The acquisition will bolster Tech Mahindra’s consulting capabilities in the cloud transformation space and enable the company to drive growth of cloud-related IT services in the North American market, according to the filing.
Founded in 2007 in Princeton, New Jersey, Brainscale offers cloud consulting, enablement, application development and data analytics. The company has an advanced specialization in Windows/ SQL, Kubernetes and open source database migration to the cloud.
In addition to its U.S. workforce of 120 people, Brainscale has offices across Canada as well as in Pune and Bengaluru, India. The company reported revenues of $10 million for the financial year ended December 31, 2020.
Tech Mahindra’s Past Deals
Tech Mahindra has a history of M&A that includes the acquisition of Eventus Solutions Group in April for $44 million and the acquisition of cloud automation and DevOps services provider DigitalOnUs in April 2021 for $120 million.