Spark Financial Holdings (“Spark”) acted as the exclusive financial advisor to Allyis Inc. and its selling shareholders on the acquisition by Tech Mahindra

Spark is pleased to announce the signing and closing of definitive agreements for the sale of 100% equity stake in Allyis Inc. and its affiliates ("Allyis"), a US-based Engineering services and Digital Experience consulting company to Tech Mahindra Group("Tech Mahindra") for an all-cash consideration up to USD 125 Mn

Tech Mahindra (BSE: 532755, NSE: TECHM), a leading multinational information technology services and consulting company, announced that it has signed a definitive agreement to acquire Allyis Inc. and its affiliates, a leading Microsoft partner across the Digital Experience and Engineering space. 

Allyis, headquartered in Seattle, is a premier global engineering and digital technology consultancy with diverse and entrenched capabilities across Cloud Engineering, AI & DevOps, Data & Analytics and Learning & Digital Experience solutions. With 20+ years of strategic relationship with Microsoft and with delivery centers across US, Costa Rica, Romania, India, Allyis has been instrumental in enabling a strong digital-first experience services approach. 

Allyis Founding Team
remarked, Thank you, to the entire Spark team, for helping to join Allyis' niche experience, talented employees, and loyal customers with Tech Mahindra. We could not be more pleased with Spark's drive to help find the right marriage for our growing company as well as their guidance, diligence, and professionalism throughout every step in the process. We have had a very pleasant experience working with the Spark team.”

Vijay Radhakrishnan, Director & Practice Head - Technology & Business Services, Spark Financial Holdings said, "Allyis has been successful in building a deep, collaborative and trusted relationship across the Microsoft ecosystem over the last few decades. As a proven, credible and strategic partner, Allyis is well-positioned to capitalize on the paradigm shift towards the evolving next-gen digital age through its niche capabilities across both the digital experience domain and core engineering services. We see an enduring synergy in the acquisition of Allyis by Tech Mahindra and wish both parties the best in the years ahead."

This marks Spark's 49th transaction in the Technology Services space and further adds to its rich heritage of deal-making - aggregating to USD 2.4 Bn in value across Technology Services. This is also the fourth instance of a cross-border transaction that was architected, executed and consummated remotely and digitally end-to-end during the COVID pandemic. Spark is proud to be a part of this transaction and wishes both Allyis and Tech Mahindra the best in the years to come.