Indian IT services firm Tech Mahindra has picked up a controlling stake in US-based digital consultancy Mad*Pow, gaining wider access to serve prospective clients in the American healthcare and life sciences industry.
The Portsmouth, N.H.-based design agency offers to help organizations, particularly healthcare and financial services providers, improve their customers’ experience in digital and other channels.
This is the Indian firm’s second major investment in a US technology company with a wide network of clients in the healthcare sector after its 2017 acquisition of CJS Group, which specializes in the implementation of electronic medical records (EMR) software.
Although healthcare and life sciences business accounts for less than 10% of its revenue, Tech Mahindra has often stated that it would like to focus on this area. The latest acquisition, analysts say, will further consolidate its position in the US life sciences sector.
“The collaboration will also create vast opportunities for Mad*Pow to provide its unique and differentiated strategic design services to Tech Mahindra’s large global customer base,” stated Will Powley, Founder and Chief Creative Officer at Mad*Pow.
Founded in 2000, Mad*Pow has employed around 80 people across two delivery centers in the US. Interestingly, most of the projects it works on are aimed at promoting health and financial wellbeing.
In 2016, Mad*Pow acquired a gamified exercise app HotSeat, which persuades office workers to increase physical exercise, such as walking and dancing, in order to stay healthy.
“With this collaboration, our digital footprint will take a deeper root not just in the US, but in the wider ecosystem world over,” says CP Gurnani, CEO of Tech Mahindra.