Data science company Tredence announces ESOP buyback worth $30 mn

Tredence, a data science and AI solutions company that has most of its workforce in India, on Thursday announced its largest ESOP buyback programme worth $30 million (Rs 240 crore) after getting $175 million in funding last year.

The buyback will include over 270 employees worldwide. Eligible employees will participate in the repurchase and liquidate 40 per cent of their vested units for ESOP (employee stock ownership). At five-fold the book price of each unit, the programme provides liquidity options and will be a wealth-creation opportunity for employees.

“The buyback program will recognize and reward employees who strive every day to make Tredence the most indispensable analytics company on the planet,” said Shub Bhowmick, chief executive officer and co-founder, Tredence.