Tech Mahindra Acquires Canada's Avant Technologies for BFSI Expansion

Tech Mahindra's subsidiary TMCG executed an agreement to acquire Alluri Technologies Inc. (Avant), a Canadian IT services firm specializing in payments and wealth platforms.
Avant reported a turnover of CAD 58.64 million (₹406.96 Cr) and a net worth of CAD 10.76 million (₹74.68 Cr) as of December 2025, employing over 240 people.
The acquisition, structured in two tranches (85% by July 2026, 15% by June 2029), aims to strengthen Tech Mahindra's BFSI vertical capabilities in North America.
The transaction is not a related party transaction and does not require any governmental or regulatory approvals for completion.