FCA approves Target Group takeover

Ryan Fowler

August 24, 2016

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Financial services outsourcing and software provider Target Group has had its acquisition by Tech Mahindra approved by the Financial Conduct Authority.

The transaction, announced on 27 May, will see the current management team remain in the business, ensuring continuity and acceleration of the Group’s ambitious growth strategy.

Ian Larkin and Bill Alley, co-group CEOs, see this confirmation as a major stepping-stone in Target’s growth.

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In a statement they said: “We would like to thank Pollen Street Capital for its four 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.”