Melbourne-based Momenton gets acquired by a multinational IT consulting firm
Multinational technology organization Tech Mahindra has announced expansion in Australia through the acquisition of Momenton, a Melbourne-based IT consulting firm. The company acquired by Indian multinational Tech Mahindra specializes in IT, cloud, product enablement, enterprise agility, engineering and emerging technology consulting as well as implementation.
To expand its operations in New Zealand, the company has also acquired a Kiwi tech consultancy, Tenzing. The acquisitions will enable modern cloud architecture and transformation along with digital capabilities for its A/NZ customers.
Tech Mahindra on acquiring the two companies
Jeff Ferdinands, Tech Mahindra Country Head ANZ said the addition of the two companies will extend and strengthen Tech Maindra’s offerings and position in the Australia and New Zealand market, particularly in the financial services industry.
It will enable the organization to provide stronger ontise services, a comprehensive suite of technologies and an enhanced customer experience. He adds that they will enable Momenton and Tenzing to amplify and deliver a broader range of services through its distributed delivery model to their combined customer base.
Head of Corporate Development and Global Head for Financial Services and Healthcare at Tech Mahindra, Vivek Agarwal, said the acquisition of Tenzing and Momenton is in line with their strategy to strengthen digital capabilities of Tech Mahindra and to offer their clients end-to-end transformation services. It will also significantly enhance their local presence in the A/NZ markets and will create great synergies and aid in bringing groundbreaking solutions to their customers allowing them to run better, grow greater and change faster, Agarwal said.
Melbourne-based IT consulting firm Momenton was established in 2015 and has 50 employees on its payroll. The consultancy specialises in the digital enterprise offering and implementation services in enterprise product enablement, engineering, agility and emerging technology with advanced experience and capabilities in cloud native architectures and digital engineering.
Founder of Momenton, Bobby Singh said that the acquisition represents a significant step in its growth and journey. Singh added that it provides their organisation, and its people, with global reach along with the ability to tap into more opportunities in this fast-paced and ever-growing market. He added this acquisition will further strengthen their client relationships and enable them to expand their set of services and capabilities they currently offer.
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