Mphasis acquires TAP for up to CAD 30M, boosts AI decisioning

Mphasis Ireland Limited, a wholly-owned subsidiary of Mphasis, has acquired 100% shareholding in Theory and Practice Business Intelligence Inc. (TAP) and its affiliates. TAP, a technology company founded in 2018, developed Continuum AI, a Decision Intelligence platform that combines AI with behavioral economics to improve business decision-making and understanding buyer behavior. The acquisition involves an upfront consideration of CAD 10 million at closing, with a management milestone-based, multi-year contingent consideration of up to CAD 20 million. This strategic move strengthens Mphasis's 'Decisioning Intelligence' capabilities and aligns with its NeoIP™ roadmap, enabling advanced AI for demand forecasting, pricing, marketing, and supply chain decisions across various industry verticals. Mphasis CEO Nitin Rakesh stated that Continuum AI will be a key catalyst for NeoIP™, driving measurable economic outcomes and extending Mphasis's reach into critical AI spend initiatives.