Tech Mahindra reports the merger of two US-based subsidiaries

Tech Mahindra has announced the merger of Born Group and Tech Mahindra Americas to reduce operational costs, lower compliance risks, and streamline business operations.

Tech Mahindra, a supplier of IT services and consultancy, has announced the merger of Born Group and Tech Mahindra Americas (TMA), two of its wholly-owned subsidiaries, with the goal of optimizing operational costs, lowering compliance risk, and streamlining company processes. A regulatory filing with the Bombay Stock Exchange contained the announcement. The proposed merger is expected to go into effect on April 1, 2024.

According to the release, on March 22, both Tech Mahindra Americas (TMA), a wholly-owned material subsidiary of the company, and Born Group Inc., a wholly-owned step-down subsidiary of the company, approved the plan of merger.

Born Group was founded in 2011 and is focused on providing brand strategy, graphic design, brand identity discovery, and other services for digital products, mobile apps, and physical things.

Tech Mahindra Americas (TMA), which was founded in the US in 1993, provides programming support services, computer consulting, and IT management & consulting services. The company reports that TMA made $1,201.37 million in revenue in the 2024 fiscal year, compared to $55.08 million for Born. As per the corporation's statement, the merger plan would not involve any financial exchange or issuance of new shares.