Tech Mahindra had announced that it is acquiring the Dutch omnichannel, customer experience vendor Dynacommerce for Rs128 crore ($17.8 million, EUR15.9 million, £13.95 million).
Dynacommerce, a Dutch start-up, is around 4 years old and a long-standing partner of Tech Mahindra. The company delivers a cost-effective omnichannel solution for multi-play sales and delivery orchestration, with minimal disruption to the customer.
Its capabilities will play into one of Tech Mahindra’s big four themes of delivering connected customer experiences and will add to those gained from acquiring Bio Agency (a UK-based digital transformation agency) and Pininfarina (an Italian styling brand). It is also synergistic with other Tech Mahindra capabilities, such as AI and automation.
Dynacommerce had reached the point where to expand its market reach it required either further investment to grow organically, or a strategic acquisition to give it access to a customer base and the financial backing it needed. This part of the market is very challenging for start-ups to gain traction and scale up, since the market favours dealing with mid-sized to large-scale vendors that have the resources and delivery capabilities to be in it for the long haul. The combination of the Dynacommerce solution with Tech Mahindra’s delivery capabilities, wider portfolio and financial muscle should help the technology realise its potential.
Upon announcement of the acquisition, Rick Centeno, CEO of DynaCommerce, said: “We are very excited about becoming part of the Tech Mahindra solution ecosystem. We share the same vision on how to bring great customer experience to the digital world and this will give us the required resources and footprint to successfully scale to a global level.”