Multinational IT and outsourcing services provider Tech Mahindra has acquired Melbourne-based IT consulting firm Momenton.
The acquired company specialises in consulting and implementation services in cloud, enterprise agility, product enablement, engineering and emerging technology. Some of its clients include financial services firms and real estate companies.
Tech Mahindra said the acquisition would enable digital capabilities, modern cloud-based architecture and transformation for its ANZ customers, particularly in the financial services and other sectors.
Momenton founder Bobby Singh said, “This acquisition represents an important step in Momenton’s growth journey. It provides our organisation and its people with extensive global reach and the ability to tap into significantly more opportunities in this fast-growing market.”
“This acquisition will further enhance and strengthen our client relationships and enable us to expand the set of capabilities and services we currently offer by drawing on the combined experience of Momenton and Tech Mahindra.”
“We look forward to being part of Tech Mahindra and continuing to offer innovative, agile and industry leading services to our current and future clients.”
Also joining Tech Mahindra is New Zealand-based technology consulting company Tenzing Ltd.
Tech Mahindra ANZ country head Jeff Ferdinands said, “The addition of Momenton and Tenzing will further strengthen Tech Mahindra’s position in the ANZ marketplace, especially in the financial services sector, enabling the organization to deliver a comprehensive suite of technology, stronger onsite services and enhanced customer experience.”
“Tech Mahindra through its distributed delivery model will enable Momenton and Tenzing to amplify and deliver a wider range of services to our combined customer base.”