O.C. Tanner, a Salt Lake City-based employee recognition and workplace culture company, has acquired the recognition and rewards technology and business of Kwench, an India-based company that delivers 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, the company said.
Kwench is an employee recognition market leader in India and works with more than 500 companies across 63 countries.
“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 a 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,” said Sunder Nookala, CEO of Kwench. “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.”
“As one of the fastest-growing economies in the world, India is an exciting place for business today,” said the 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.”
O.C. Tanner was founded in Utah in 1927 and has 1,400 employees in its worldwide operations.