Tech Mahindra announces acquisition of 100% stake in Orchid Cybertech Services

IT services company Tech Mahindra on Tuesday announced that it has acquired 100 per cent stake in Philippines-based customer experience firm, Orchid Cybertech Services Inc (OCSI), through its wholly-owned subsidiary.

“We wish to inform that the company through its wholly owned subsidiary viz., vCustomer Philippines Inc has today i.e. February 20, 2024 at 05:55 a.m. (IST), approved the acquisition of 100 per cent equity shares in Orchid Cybertech Services, Inc, (OCSI) and executed the relevant transaction documents,” it said in a regulatory filing. The cost of acquisition, the company said, is AUD 5 million.