Target Group – Driving Tech Mahindra forward in UK FS
Publish date: 20/06/2016
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Indian Pure Play Tech Mahindra has announced that it is acquiring Target Group, a privately-owned specialist provider of Business Process as a Service (BPaaS) in the management of loans, investments and insurance. Over the past five years, this company has grown quickly to exploit its proprietary IP, central processing platform and customer relationships in this complex but growing niche. Target already has a growing pipeline from its business supporting mainstream lenders in the UK and from the expanding alternative lending market. Additional potential is being opened up in the management of loan portfolios.
Tech Mahindra’s acquisition of Target Group appears to offer benefits to both the acquirer and the acquired. Target group had been enjoying good success under its PE owners, but access to a bigger balance sheet and a greater pool of resource should accelerate its progress, enable it to expand geographically and drive higher long-term profitability. On the other hand, Tech Mahindra has bought a centre of excellence and a market position in a profitable, growing and differentiated sector of the competitive Financial Services market.
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