Tech Mahindra - Mahindra Satyam Merger Consummated
NEW DELHI, June 25, 2013 /PRNewswire/ --
Announces new brand identity
Tech Mahindra Limited, a specialist provider of information technology (IT) solutions and services to the telecommunications industry, and Mahindra Satyam, a leading global consulting and IT services provider, today announced the formal amalgamation of Mahindra Satyam with Tech Mahindra.
The Company is amongst the top 5 Indian IT services companies and the merged entity creates a technology services powerhouse, with revenues of USD 2.7 Billion, a team of 84,000 professionals servicing 540 customers across 46 countries.
The brand dons a new look and logo, reflecting the heritage of the Mahindra Group and our positioning represents the new connected world, offering innovative and customer-centric services and solutions.
"Today we have fulfilled the commitment made in 2009, when we acquired Satyam, to jointly become one-of-the largest, diversified players leveraging Technology for Business Solutions. Tech Mahindra is a testimony to the tireless efforts of our associates and the trust reposed by our investors. I'm confident that we are now geared to grow even faster in the future," said Anand Mahindra, Group Chairman, Mahindra & Mahindra.
"Over the past four years while we worked through the statutory and legal issues, our teams worked closely on the ground to integrate processes, eliminate overlaps, leverage best practices and deliver enhanced value to all our stakeholders. Today, as we formally become one, our unified Go-To-Market strategy will allow us to meet the growing needs of businesses with renewed vigor and pro-activeness," said Vineet Nayyar, Executive Vice Chairman, Tech Mahindra.
Speaking on the occasion, CP Gurnani, Managing Director, Tech Mahindra said, "Consumerism across today's connected world is being fuelled by a convergence of technologies. Our new positioning 'Connected World. Connected Solutions.' reflects this business opportunity and reality. Our innovative and customer centric offerings integrate technology with business, enabling Enterprises, Associates and the Society to Rise. I thank all stakeholders for their continuous and unfailing support at all times."
The Boards of Tech Mahindra and Mahindra Satyam had approved the merger on Mar 21, 2012. After an approval from Mumbai high court, the merger had been awaiting clearance from the Andhra Pradesh High Court, which gave the nod on Jun 11, 2013.
About Tech Mahindra
Tech Mahindra is a leading provider of information technology business solutions for several industries worldwide. The Company offers telecom solutions, business consulting across platforms, products and services, leveraging deep industry and functional expertise, leading and futuristic technology practices with a global delivery model to help businesses value enhancement and improvement of performance. Their professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business processes, engineering and product lifecycle management, infrastructure services, among other services.
A SEI-CMMi Level 5 organization, Tech Mahindra development centers serve global businesses in the United States of America, Canada, Brazil, the United Kingdom, Germany, France, Hungary, Egypt, United Arab Emirates, India, China, Malaysia, Singapore, and Australia and serves numerous clients, including many Fortune 500 organizations.
For more information, see http://www.techmahindra.com
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About Mahindra Group
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world.
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SOURCE Mahindra & Mahindra Limited