'Digital' seems to be flavour of the season. After similar moves by its larger peers, midsized IT services company Mindtree has now announced two acquisitions in the digital space spending around ₹425 crore. These acquisitions are expected to enhance the company expanding its offerings in the digital space which it claims accounts for over 34 per cent of its overall revenues.
The Bengaluru-based company announced to acquire British technology consultancy Bluefin Solutions, and US-based analytics firm Relational Solutions Inc. For Bluefin, which employs around 170 consultants, Mindtree would pay £42.3 million (₹423 crore), with an initial payout of £34 million (₹340 crore) in cash and the rest on performance-based deliverables spread over three years.
The UK-headquartered company that offers independent consultancy services specialising in SAP HANA, presently has a revenue run-rate of around £29 million (₹287 crore). The acquisition will help Mindtree to gain around 50 new clients in US and UK.