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Mindtree buys 2 companies for $76 million

Mid-tier IT services company Mindtree has acquired UK-based SAP HANA specialist Bluefin Solutions and US-based analytics firm Relational Solutions fora total consideration of $76 million to accelerate its digital strategy.

The Bengaluru-based IT firm entered into an agreement to buy James Applebybacked Bluefin in an all-cash transaction for £42.3 million to strengthen its presence in Europe and help its SAP clients to simplify processes using SAP's application portfolio. For Bluefin, the consideration includes an upfront payment of £34 million and earnout of £8.3 million payable over the next three years. With this acquisition, Mindtree will add 60 customers and 170 employees. Krishnakumar Natarajan, CEO and MD, Mindtree said, "We are very excited about what Mindtree and Bluefin bring in the digital space. The acquisition will strengthen our position to offer the full spectrum of SAP services."

Mindtree has also acquired Relational Solutions for $10 million to bolster its analytics capabilities to CPG customers with solutions for supply chain optimization and trade promotions analytics.