Tech Mahindra’s CAD 28M Power Play – Avant stake fuels BFSI modernization surge

Tech Mahindra announced the acquisition of Avant, a payments modernization and wealth management specialist, through its subsidiary Tech Mahindra Consulting Group Inc. The move underscores the company’s strategy to deepen expertise in the BFSI sector and expand its footprint across North America.  

Strategic Impact
The deal positions Tech Mahindra to deliver scalable solutions in payments and wealth management, while leveraging Avant’s established client relationships and sector talent. It also opens opportunities in open banking, regulatory compliance, and fraud prevention.  

Key highlights  

• CAD 28 million consideration for 85% stake  
• Remaining 15% equity to be acquired after 3 years  
• Avant turnover CAD 58.64 million in 2025  
• Strengthens BFSI vertical with payments and wealth platforms  
• Enhances AI-led modernization capabilities  
  
  

Sources: Tech Mahindra exchange filing, company press release