IT services firm Tech Mahindra Ltd. (TECHM:NSI) is acquiring Brainscale Inc., a provider of IT services based in Princeton, New Jersey. Tech Mahinda is paying USD 28.8 million, including earnouts, for a 100% stake in the company.

Brainscale has more than 120 employees and posted revenue of USD 10 million in the year ended 31 December.

The deal is expected to close by 15 August.

Tech Mahindra reports the acquisition will bolster its consulting capabilities in the cloud transformation space and drive growth of cloud-related IT services in its North American market.