Tech Mahindra Ltd.

Tech Mahindra Ltd., a Pune, India-based global IT services provider, is acquiring Activus Connect LLC and Activus Connect PR LLC, IT companies based in Orlando, Florida. The companies to be acquired have more than 1,750 employees. They posted revenue of USD 17 million in 2020 and project revenue of USD 21.8 million this year.

Tech Mahindra is paying USD 62 million for a 100% stake in the two firms. The consideration is coming in cash.

The two companies to be acquired provide remote customer experience and customer care solutions.

Cognizant

Global IT services giant Cognizant Technology Solutions Corp. agreed to buy software consultancy and product development company Devbridge. Financial details were not disclosed but the acquisition is expected to close by the end of this year, subject satisfaction of closing conditions.

Devbridge is based in Chicago and will bring to Cognizant more than 600 engineers, designers and product managers in Lithuania, Poland, the US, the UK and Canada.

Once the deal closes, Devbridge employees will become part of Cognizant Softvision, which develops digital products.

Quess Corp. Ltd. (QUESS:NSI) is raising its stake in a marketplace for gig economy workers (independent contractors) while Tech Mahindra Ltd. (TECH:NSI) and Cognizant Technology Solutions Corp. (CTSH:NSQ) announced acquisitions in the IT services space.

Quess Corp.

Quess Corp. Ltd., a staffing firm based in Karnataka, India, announced it is increasing its minority stake in Stellarslog Technovation Private Ltd. to 49% from 35.6%. Stellarslog owns talent platform Taskmo.

Stellarslog had revenue of INR 12.5 million (USD 165,847) in its most recent fiscal year. It had more than 32,000 users as of 30 September.

Quess Corp. is investing INR 40 million (USD 530,709) to increase its stake.

Quess previously raised its stake in Stellarslog in July.