Mphasis acquires Blink Interactive in a deal worth $94 million
- ByStartupStory | September 25, 2021
Mphasis, a provider of IT applications, infrastructure, and BPO services, announced that Blink Interactive, Inc, a Washington Corporation has been acquired by its wholly-owned subsidiary Mphasis Corporation, USA, for a total consideration of up to $94 million, including earnouts. This acquisition is consequent to signing a definitive agreement regarding the acquisition. The acquisition is expected to provide access to marquee logos, strengthen experience business, and is leadership and revenue growth accretive.
Founded in 2000, Seattle-headquartered Blink provides design consultancy services around user experience (UX), user research-based software product design and strategy, and customer experience (CX) design for marquee brands. With over 130 employees, Blink has additional studios in Austin, Boston, San Diego, and San Francisco.
“Customer centricity is foundational to Mphasis and is reflected in Mphasis’ Front2Bac Transformation approach. The acquisition of Blink, consistent with our M&A focus, is in the forefront of providing well-researched design and high-impact digital experiences to our clients and their end customers,” said Nitin Rakesh, CEO and Executive Director, Mphasis. “The Total Addressable Market for the upstream user research, strategy and design is growing 25-30% p.a. i.e., 4-5x the overall IT Services market. There is significantly increased focus on user-centered design in the current environment. The synergy opportunity set will revolve around product, experience & service design, as well as the end-to-end implementation services across the spectrum of clients & industries we serve together,” he added.
Mphasis said the acquisition is expected to provide access to marquee logos, strengthen experience business, and is leadership and revenue growth accretive. The IT company said Blink will bring a marquee client list in the technology and consumer industries with an average 10-year relationship and strong synergy potential for the Hi-Tech vertical.
Shares of Mphasis rose 2 percent to hit an intraday high of Rs 3,267.95 on BSE on Wednesday. The stock opened 0.19 percent higher at Rs 3,205.15 against the previous close of Rs 3,199.00. With a market capitalisation of Rs 60,871 crore, the shares stand higher than 5 days, 20 days, 50 days, 100 days, and 200-day moving averages.
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