O.C. Tanner, the employee recognition and workplace culture, has recently announced it has acquired the recognition and rewards technology and business of Kwench, an India-based company that delivers cutting-edge, easy-to-use corporate recognition solutions. The agreement will combine the global footprint of O.C. Tanner and the software-as-a-service (SaaS) technology platforms of Kwench to enhance value to clients everywhere.
“We’ve enjoyed tremendous success with our O.C. Tanner India team and the addition of the Kwench team and technology will combine the strengths of two market leaders to help us better serve our collective client base,” said Dave Petersen, CEO of O.C. Tanner. “While we’ve largely focused on multinational clients, the Kwench focus has been primarily on companies headquartered in India, so this acquisition will fuel even greater growth. We measure progress and success by how many employees and workplaces we can positively impact through our recognition programs and strategies – and we are very excited to welcome the Kwench team into our global organization.”
O.C. Tanner’s existing footprint in India, including a headquarters in Mumbai and the second location in Hyderabad, will be bolstered by Kwench’s local presence and nearly 50 employees.
“We are truly excited to join the O.C. Tanner family and see it as a perfect meeting of minds, culture and aspirations. It is indeed a validation of India’s market potential and Kwench’s capabilities that the world’s largest recognition company has chosen to make this acquisition," said Sunder Nookala, CEO of Kwench.
“As one of the fastest-growing economies in the world, India is an exciting place for business today,” said Managing Director of O.C. Tanner India Zubin Zack. “Employee recognition is fast evolving as a key focus area as companies fight to attract and retain the best talent. These are exciting times for Kwench and O.C. Tanner to combine strengths and bring global best practices to the Indian market.”
SOURCE O.C. Tanner