Tech Mahindra, a digital transformation service provider, announced that it has acquired a 70% stake in Perigord, a global leader in consulting and labeling solutions for the pharmaceutical industry, at an undisclosed price.
The acquisition will help Tech Mahindra expand its expertise in the global pharmacy, healthcare and life sciences (HLS) sectors, the company said in a statement.
Périgord’s disruptive proprietary platform and its expertise in the arts space and life sciences sectors will add significant value to our offerings and capabilities, ”said Vivek Agarwal, President of BFSI, HLS and Tech Mahindra Company Development.
The acquisition is part of Tech Mahindra’s long-term plan to expand its presence in key markets in Ireland, Germany, the United States and India with improved global delivery.
“Health and Life Sciences (HLS) is an important industry for Tech Mahindra and this acquisition will expand our presence in these areas around the world,” added Agarwal.
Tech Mahindra will also leverage Périgord’s expertise and offerings to expand capabilities to provide efficiency and automation levers in various sectors, including consumer products (CPG), medical devices, and over-the-counter (OTC) products, to enable growth future and scalability.
“The ambitions and future desires of both companies to digitally change the world of pharmaceutical packaging services will provide our customers with long-term innovative solutions that will ensure their needs are sustainable for the next 10 years,” said Alan Leamy, CEO, from Perigord Asset Holdings Ltd.