Tech Mahindra
 |
|
| Public | |
| Traded as | : : TECHM |
| Industry | IT services, IT consulting |
| Founded | 1986 |
| Headquarters | Pune, India |
|
Area served
|
Worldwide |
|
Key people
|
Anand Mahindra (Chairman & Founder) Vineet Nayyar (VC) CP Gurnani (CEO & MD) |
| Services | IT, Business Consulting and Outsourcing |
| Revenue |
 $4.1 billion (March 2016) |
|
$474 million (March 2016) |
|
|
Number of employees
|
117,095 (December 2016) |
| Parent | Mahindra Group |
| Website | www |
Tech Mahindra Limited is an Indian multinational provider of information technology (IT), networking technology solutions and Business Process Outsourcing (BPO) to the telecommunications industry. Anand Mahindra is the founder of Tech Mahindra, which is headquartered at Pune, India.
Part of the Mahindra Group, Tech Mahindra is a US$4.2 billion company with over 117,000 employees across 90 countries. It provides services to customers which include Fortune 500 companies. It is also one of the Fab 50 companies in Asia, a list compiled by Forbes. Tech Mahindra was ranked #5 in India's software services (IT) firms and overall #111 in Fortune India 500 list for 2012. Tech Mahindra, on 25 June 2013, announced the completion of a merger with Mahindra Satyam.
Tech Mahindra has 825 active clients as of March 2016.
Mahindra & Mahindra started a joint venture with British Telecom in 1986 as a technology outsourcing firm. British Telecom initially had around 30 percent stake in the Tech Mahindra company. In December 2010, British Telecom sold 5.5 per cent of its stake in Tech Mahindra to Mahindra & Mahindra for Rs 451 crore. In August 2012, British Telecom sold 14.1 per cent of its stake to institutional investors for about Rs 1,395 crore. In December 2012, British Telecom sold its remaining 9.1 per cent (11.6 million shares) shareholding to institutional investors for a total gross cash proceeds of Rs 1,011.4 crore. This sale marked the exit of British Telecom from Tech Mahindra.
After the Satyam scandal of 2008-09 Tech Mahindra bid for Satyam Computer Services, and emerged as a top bidder with an offer of Rs 58.90 a share for a 31 per cent stake in the company, beating a strong rival Larsen & Toubro. After evaluating the bids, the government-appointed board of Satyam Computer announced on 13 April 2009: "its Board of Directors has selected Venturbay Consultants Private Limited, a subsidiary controlled by Tech Mahindra Limited as the highest bidder to acquire a controlling stake in the Company, subject to the approval of the Hon'ble Company Law Board." Through a subsidiary, it has emerged victorious in Satyam sell-off, a company probably two times its size in number of people. This was one of the largest merger deals in India's tech industry.
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Wikipedia