FCA approves Tech Mahindra acquisition of Target Group

Target Group, the financial services outsourcing and software provider, has welcomed the FCA’s confirmation that it has formally approved Target’s acquisition by Tech Mahindra, a global specialist in digital transformation.

The transaction, announced on 27th May, will see the current management team remain in the business, ensuring continuity and acceleration of the Group’s ambitious growth strategy. Target’s previous parent was Pollen Street Capital.

Ian Larkin and Bill Alley, Co-Group CEOs, see this confirmation as a major stepping-stone in Target’s growth:

“We would like to thank Pollen Street Capital for its 4 years of support and assistance in moving the business forward. Our focus now will be on accelerating the next stage of our growth. In doing so, we look forward to working as part of Tech Mahindra to further develop our scale, market share, and, most importantly, our solutions and services for clients.”