Zensar Technologies is reportedly close to acquiring Mastek for a deal valued between $850 million and $900 million. The acquisition supports the ongoing trend of consolidation in the IT and IT-enabled services sectors, driven by advances in artificial intelligence and the increasing influence of international consumers, which are refining the vendor landscape.
The past year has seen numerous mergers, including Capegemini’s takeover of WNS, Coforge’s acquisition of Encora, Wipro’s consolidation of Harman’s digital transformation solution business, and TCS’s buyout of Salesforce consultancies ListEngage and Coastal Cloud. If the merger between Pune-based Zensar and Mumbai-based Mastek is finalised, it will create a stronger mid-market competitor with a stronger portfolio in AI and digital engineering, greater geographic reach, and a larger client base.
The combined entity will have revenue exceeding $1.3 billion. Zensar said it does not want to comment on market speculations. Meanwhile, a Mastek spokesperson said, “We would like to state that the information shared is speculative and incorrect.” Mastek strictly adheres to disclosure norms and regulatory requirements.
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Zensar Technologies’ emerging primary clients include Cisco, the City of San Diego, and Tesco Insurance, which derives approximately 68% of its business from the United States and 21% from the UK/EU. The company generated revenue of around Rs. 5,300 crore in FY25 and has over 10,000 employees. Mastek, which reportedly has Rs. 3455 crore in FY25, earns 57.3% of its revenue from the UK and counts the NHS, The Alternative Parcel Company, and the Bank of England as its primary customers.
