Mphasis Ltd. announced on Tuesday the appointment of Ajay Arya, an industry veteran, as the head of its merger and acquisitions department. Arya will be based in New York and lead the entire process, including strategy, evaluation, deal sourcing, negotiation, diligence management and post-merger integration, the IT major said in a release.
“I am looking forward to the challenge of driving M&A forward in this momentous time of technological revolution," Arya said. "Bringing Mphasis' strength in technology with my experience in mergers and acquisitions and financial engineering will help capture more value and in succeeding to deliver to our clients and to our financial objectives."
Mphasis Chief Executive Officer Nitin Rakesh said this appointment reinforces the company's commitment to "investing in top-level talent and further accelerating the strong momentum in our inorganic business."
Arya has a career spanning over 20 years in corporate development, strategy, and M&A across sectors such as aerospace, defence, biotechnology, and healthcare, the release noted.
Previously, he oversaw acquisitions, divestitures, ventures, and investments for publicly traded aerospace and defence firms, closing over 30 deals valued at nearly $40 billion since 2011, it added.
Before joining Mphasis, Arya held key leadership roles at companies such as Carrier, GeneDX, and L3 Harris Technologies.
The appointment was announced after the market hours. The share price of Mphasis settled 1.67% higher at Rs 3,177.8 on the NSE, as compared to a 0.14% rise in the benchmark Nifty.
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