Tech Mahindra announced the acquisition of The BIO Agency (BIO), headquartered in the UK for an enterprise value of 40 million pounds.

The BIO Agency specialises in digital transformation and innovation, helping organisations change the way they engage with their customers.

Ranked as leaders in their field, The BIO Agency Team helps businesses change in the new customer centric digital world. Their "innovation and strategy first" approach, plus experienced frameworks and delivery processes create true differentiation for their clients.

The BIO Agency services brands across Financial Services, Retail, Property, Travel, and Technology sectors and the acquisition will help them make sizeable inroads into the Fortune 100 / 500 Telecommunications and Enterprise clients of Tech Mahindra.

Last month, the company had entered into an agreement to acquire Target Group, one of the leading processing platform companies in the UK.

Shares of the Tech mahindra were seen trading at Rs 538, higher by 0.14 on BSE at 11.07 am IST. IT touched an intra-day high of Rs 545 during the trade.

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