Progress Partners and SI Partners acted as joint advisors to the shareholders of US design consultancy, Mad*Pow on the transaction.
Tech Mahindra, a $5B leading provider of digital transformation and consulting services and solutions will be acquiring a majority stake in Mad*Pow, a strategic design consultancy headquartered in the US. The addition of Mad*Pow to the Tech Mahindra portfolio is expected to help bolster capabilities in Customer Experience (CX) and digital transformation.
The Boston-area consultancy will offer a strong complement to Tech Mahindra’s existing offerings and capabilities across design, marketing and commerce.Founded in 2000, Mad*Pow is a pioneer in the experience design field, leveraging strategic design and the psychology of motivation to create innovative experiences and compelling digital solutions for global clients. Mad*Pow’s unique human-centered design approach is fueled by deep empathy and an understanding of behavior science, which will create real differentiation for Tech Mahindra’s 900+ customers.
Will Powley, Founder and Chief Creative Officer, Mad*Pow, said, “Tech Mahindra’s experience and reach will enable Mad*Pow to scale faster by greatly enhancing its digital transformation offerings with existing and potential clients. The collaboration will also create vast opportunities for Mad*Pow to provide it’s unique and differentiated strategic design services to Tech Mahindra’s large global customer base.”
Commenting on the deal, CP Gurnani, MD & CEO, Tech Mahindra, said: “Mad*Pow’s acquisition is in sync with Tech Mahindra’s global digital charter. With this collaboration, our digital footprint will take a deeper root not just in the US, but in the wider ecosystem world over. I welcome the Mad*Pow team into the Tech Mahindra family, and I am confident that together we will achieve greater success.”Mad*Pow’s acquisition underlines Tech Mahindra’s focus on digital growth, which focuses on leveraging next generation technologies and solutions to disrupt and enable digital transformation, and to build and deliver cutting-edge technology solutions and services to address real world problems to meet clients’ evolving and dynamic needs.Vivek Agarwal, Global head of Corporate Development, Tech Mahindra, commented, “We are excited to announce Tech Mahindra’s key acquisition of a digital asset in North America. The addition of Mad*Pow to Tech Mahindra family will greatly enhance our ability to create and deliver enhanced customer experiences for our global clients.”
Mad*Pow’s ability to help clients understand and envision better customer experiences will now be strengthened by the power to bring those experiences to life through digital transformation and enterprise technology.
Mad*Pow will continue to operate under the same brand, providing the same excellent team, services, and quality to their clients, but now with the opportunity to serve Tech Mahindra’s global client list “to make a much larger impact in the world”.
Amy Heymans, Co-Founder & Chief Experience Officer, Mad*Pow: “We are thrilled about this partnership as Tech Mahindra is a company with a purpose having a strong focus on Individual and Corporate Social Responsibility, it is part of their culture to drive positive change, celebrate each moment and empower all to “Rise”. What attracted us to them was their entrepreneurial spirit. They have a federated structure which empowers innovation and taking calculated risks to deliver enhanced customer experience.”
Tech Mahindra has depth of expertise and capabilities in health and financial services which are Mad*Pow’s core verticals. As such, the Health Experience Design Conference, Financial Experience Design Conference, and Center for Health Experience Design will continue to thrive. Tech Mahindra also serves other verticals such as commerce, telecom, and automotive where Mad*Pow capabilities will be transferable and beneficial.