Technology Holdings is pleased to announce the strategic sale of our client Tenzing, a New Zealand-headquartered management and technology consulting provider, to Tech Mahindra.
While considering a strategic sale, we were looking for an adviser who understood our business aspirations. Technology Holdings ticked all of the boxes, global transaction experience in our key industries such as insurance; deep understanding of the Guidewire ecosystem; strong relationships with global services companies and a track record of closing transactions in consulting and digital services. We are thankful to the Technology Holdings team for delivering Tech Mahindra and their support during the transaction discussions.
Tenzing advises enterprise organizations across Australia and New Zealand (ANZ) on business strategy, insurance system transformation, program management, cloud architecture and digital services. Since 2008, Tenzing has provided core transformation services to major insurance carriers as a Guidewire Advantage partner.
Tech Mahindra is a global IT services provider with revenue of over $5 Billion. Tenzing’s 145 employees will enhance Tech Mahindra’s presence in Australia and New Zealand while adding Guidewire expertise to Tech Mahindra’s global insurance offering.
Chris Day and Suri Bartlett, co-Managing Directors at Tenzing said, “Tenzing is a market leader in the delivery of management consulting and technology services to a wide range of industries in New Zealand and Australia. Joining forces with Tech Mahindra will enable Tenzing to rapidly scale up our existing service offerings and facilitate the provision of a wider range of solutions to our existing and new customers in the ANZ region. We are pleased that Tech Mahindra is expecting to leverage Tenzing’s strong capabilities in the market.”
Terry Kavanaugh, Managing Director at Technology Holdings commented, “We have watched Tenzing grow into one of the pre-eminent business consulting and technology services providers in the ANZ region. Led by Chris Day and Suri Bartlett and backed by a strong executive director team, Tenzing has expanded their digital service offerings and burnished a strong reputation as a leading provider of Guidewire transformation services. We are pleased to have advised Tenzing on the selection of Tech Mahindra as the strategic partner to help them scale their solutions for blue-chip clients in ANZ and beyond.”
Vivek Subramanyam, Founder and CEO of Technology Holdings said “It gives us great pleasure to close this strategic transaction in Australia and New Zealand, building on our many transactions closed with companies globally over the last 20 years that straddle business consulting, digital transformation and expertise in key industry verticals such as insurance, financial services or healthcare.”