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TechM buys 85% in IT firm Avant for CAD 28 million
Tech Mahindra, the IT arm of Mahindra Group, agreed to acquire an 85% stake in Avant Techno Solutions (Alluri Technologies Inc), a Canadian IT services firm, in an all-cash deal valued at CAD 28 million. The announcement was made on April 30, 2026 and disclosed in a regulatory filing on May 1, 2026. The filing also notes completion targets of July 31, 2026 for the 85% stake and June 30, 2029 for the remaining 15%.
Why It Matters
The deal marks Tech Mahindra's expansion into the Canadian IT services market and could impact competition and service offerings in the region.
Timeline
2 Events
Regulatory filing outlines completion timelines for the Avant deal
May 1, 2026
A regulatory filing disclosed that the 85% stake is expected to be completed by July 31, 2026, with the remaining 15% to be acquired by June 30, 2029.
Tech Mahindra announces acquisition of 85% stake in Avant Techno Solutions
April 30, 2026
Tech Mahindra, the IT arm of the Mahindra Group, announced the acquisition of an 85% stake in Avant Techno Solutions (Alluri Technologies Inc), a Canadian IT services firm, in an all-cash deal valued at CAD 28 million.