Mphasis: Mphasis appoints Ajay Arya as head of M&A

Mid-sized IT services firm Mphasis on Tuesday announced that Ajay Arya has been appointed as its head of mergers and acquisitions (M&A), the company said in a regulatory filing.

“Ajay will be based in New York and will lead the entire process, including strategy, evaluation, sourcing, negotiations, due diligence and post-merger integration,” the company said.

Mphasis has made nine acquisitions with an average acquisition value of $71.8 million, according to market data and research platform Tracxn. Its most active year was 2023, with two acquisitions, and it has averaged almost one acquisition per year over the past three years.

In October 2023, Mphasis acquired the US company Sonnick Partners and its subsidiaries for a transaction price of $132.5 million. The acquired company operates under the name Silverline, offering cloud solution development services based on the Salesforce hyperscaler.

“This appointment reinforces Mphasis’ commitment to investing in top-tier talent and further accelerating the strong momentum in our inorganic business. Ajay’s strategic thinking coupled with his extensive deal execution experience and proven leadership qualities will be important assets in executing our strategic roadmap; making him a great addition to the existing M&A team,” said Nitin Rakesh, CEO and Managing Director, Mphasis.

Prior to joining Mphasis, Arya served as a senior M&A advisor at US energy solutions manufacturer Carrier. With over 20 years of experience, Arya has also worked with GeneDX, L3Harris Technologies and PwC on corporate strategy and M&A in technology sectors including aerospace, defense, biotechnology and healthcare.

“I look forward to the challenge of driving M&A activity during this critical time of technological revolution. Combining Mphasis’ strength in technology with my experience in M&A and financial engineering will help us capture greater value and achieve our financial goals,” Arya said upon his appointment. Arya holds a Bachelor of Arts (BA) in Accounting and Finance from The College of New Jersey.