Tech Mahindra strengthens FinTech stack with Avant acquisition

By Parth Prabhudesai

Tech Mahindra has acquired an 85% stake in Avant Techno Solutions for $20.59 million, strengthening its capabilities in banking, financial services and insurance (BFSI).

According to exchange filings, Tech Mahindra plans to acquire the remaining 15% stake by June 30, 2029, completing full ownership over time. The acquisition marks the company’s first deal since its purchase of Orchid Cybertech in February 2024.

Founded in 2017, Avant Techno Solutions provides services across IT strategy, data and analytics, cloud and blockchain, and enterprise platforms for digital payments, security, and financial services organisations.

Tech Mahindra said the acquisition will enhance its capabilities in key areas such as real-time payments, ISO 20022 migration, wire modernisation, core payments cloud transformation, and wealth management platforms. It will also strengthen offerings in identity and access management across North America, while opening opportunities in open banking, commercial lending, regulatory compliance, and fraud prevention.

In a statement, the company said, “This acquisition positions Tech Mahindra to support organisations in simplifying legacy environments, improving speed to market, strengthening trust frameworks, and building more responsive and resilient operating models.”

The deal also brings additional talent and domain expertise to Tech Mahindra, supporting its strategy to expand its presence in the North American financial services market.