Indian IT services giant Tech Mahindra is in talks to acquire a stake in social media analytics firm Simplify360 to beef up its social, mobility, analytics, and cloud services (SMAC) for its customers, according to The Economic Times. The value of the potential deal was not disclosed in the said report.
Simlify360 Chief Executive Officer (CEO) Bhupendra Khanal said: "Tech Mahindra is our business partner. They have a history of acquiring companies. Having said that, we have mandated PwC to help us identify a strategic investor. We have not completely kept financial investors out, but it's better if we get a strategic investor on board. We are open to offload a 20-25 per cent stake and that's our comfort zone."
Sources familiar with the situation said Tech Mahindra is eyeing an initial purchase of a large minority interest in the social media startup. The IT giant planning to buyout the startup in the next three years, the report detailed.
Among the services being offered by Simplify360 are online sales lead generation, customer service, social media research, and consumer feedback analysis, The Economic Times reported.
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