Tech Mahindra, the digital transformation services company, revealed on Monday that it had purchased a 70% stake in Perigord, a leading global provider of advisory and labelling artwork solutions to the pharmaceutical industry, for an undisclosed sum.
According to a statement from Tech Mahindra, this acquisition will help the company expand its expertise in the global pharmaceutical, healthcare, and life science (HLS) sectors.
“Perigord’s innovative proprietary platform and experience in the artwork space and life sciences industry will significantly enhance our offerings and capabilities,” said Vivek Agarwal, Tech Mahindra’s President of Corporate Development.
The acquisition is part of Tech Mahindra’s long-term strategy to expand its presence in key markets such as Ireland, Germany, the United States, and India, while also improving global distribution. “Healthcare and Lifesciences (HLS) is a key vertical for Tech Mahindra, and this acquisition will extend our presence in these domains globally,” said Agarwal.
To allow future growth and scalability, Tech Mahindra will also leverage Perigord’s expertise and offerings to expand capabilities towards delivering productivity and automation levers across sectors such as consumer packaged goods (CPG), medical devices, and over-the-counter (OTC) products.
“The future goals and aspirations of both companies to digitally transform the world of pharmaceutical packaging services will bring long-term creative solutions to our clients that will future-proof their needs for the next 10 years,” said Alan Leamy, CEO of Perigord Asset Holdings Ltd.
