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Tech Mahindra - Wikipedia, the free encyclopedia
Tech Mahindra Tech Mahindra From Wiki pedia, pedia, the free encyclopedia encyclopedia
Tech Mahindra Limited is an Indian multinational provider of information technology (IT), networking technology solutions and busi busine ness ss support support serv serviices (BPO) (BPO) to the the telecom telecomm muni unication cationss ind indus ustry try..[3] Tech Mahindra is is a part part of the Mahindra Group conglomerate. It is headquartered at Mumbai, India.
Tech Mahindra is ranked #5 in India's software services firms and overall #111 in Fortune India 500 list for 2012. [4] Its executive management management team consists team consists of Anand Mahindra (Chairman), Vineet Vineet Nayyar Nayyar (Vice (Vice Chairman), C. P. Gurnani (CEO and MD), Manoj Chugh (Global Head sales), Sujit Baksi (President – Corporate Affairs & Business Services Group), Milind Kulkarni (Chief Financial Officer), L. Ravichandran Ravichandran (President - IT Services), Amitava Roy (Chief O perati perating Officer) Officer) and Sujitha Karnad (Senior Vice President - HR & QMG Q MG for IT Services).[5] Tech Mahindra, on June 25, 25, 2013 announced announced the completion of Mahindra Satyam’s Satyam’s mer mer ger ger with itself. Post-merger, the new entity will become the fifth largest IT company in the country with revenues of $2.7 billion. billion.[6] Milind Kulkarni would be the CFO of the combined entity which would have would have a team of 83,000 professionals, servicin servicing g 540 customers across 49 countries. It will have 15 o 15 overseas verseas offices offices for BPO (business (business process outsourcing) operations and software development. Its revenue for 20122012-13 13 was put put at $2.7 billion (Rs. [7][8][9] 16,000 crore).
Tech Mahindra Limited
Type
Public
Traded as
BSE: 532755 (http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx? scripcode=532755) NSE: TECH TECHM M (http://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp? (http:// www.nseindia.com/marketinfo/companyinfo/companysearch.jsp? cons=TECHM§ion=7) BSE SENSEX Constituent CNX Nifty Constituent
I ndustry
IT services, IT consulting
Founded
1986
Headquarters Headquarters Mumbai, India[1] Key people people
Onkar, Prathamesh (VC) Shailesh Dolas (CEO & MD) Services Revenue
Contents
Bonaventure (Chairman) (Chairman )
IT, business business consulting consulting and outsourcing services $2.7 billion (combined revenue of Mahindra Satyam and Tech Mahindra) (2013) [2]
Net income
$129 million (2012) [2]
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Tech Mahindra - Wikipedia, the free encyclopedia
3 Acquisition of Satyam Computer Services Ltd. 4 Merger with Mahindra Satyam 5 See also 6 References 7 External links
Website
www.techmahindra.com (http://www.techmahindra.com/)
History 1986 - Incorporation in Ind 1993 - Incorporation of MBT International Inc., the first overseas subsidiary 1994 - Awarded the ISO 9009 certification by BVQI[citation needed ] 1995 - Established the UK branch office 2001 - Incorporated MBT GmbH, Germany incorporated. Re-certified to ISO 9001:1994 by BVQI[citation needed ] 2002 - Assessed at Level 2 of SEI CMM by KPMG. Incorporated MBT Software Technologies Pte. Limited, Singapore 2005 - Merged MBT with Axes Technologies (India) Private Limited,including its US and Singapore subsidiaries.Assessed at Level 3 of SEI CMMI by KPMG 2006 - Name changed to Tech Mahindra Limited. Assessed at Level 4 of SEI People-CMM (P-CMM) by QAI India. Raised Rs46.5 million ($1 million) from a hugely successful IPO to build a new facility in Pune, to house about 9,000 staff. Formed a JV with Motorola Inc. under the name CanvasM. 2007 - Acquired iPolicy Networks Private Limited. Launched the Tech M Foundation to address the needs of the underprivileged in our society.Assessed at Level 5 of SEI CMMI by KPMG 2009 - Tech M wins bid for fraud-hit Satyam Computer Services at Rs 58.90 per share outdoing Larsen & Toubro, the other player in the fray, which bid at Rs 45.90. Rebrands the company to Mahindra Satyam. 2010 - Tech Mahindra expands footprint in Latin America 2012 - Tech Mahindra acquires Hutchison Global Services for $87.1 million 2012 - Tech Mahindra buys 51% stake in Comviva 2013 - Tech Mahindra acquires Sweden-based Type Approval Lab. The lab was part of Sony Mobile Communication's internal test function and after acquisition it has become first European test lab of Tech Mahindra.[10] 2013 - On June 24, Tech Mahindra and Mahindra Satyam merging process completed and the name of the parent company was retained for the merged entity with a new logo and motto.[11]
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Tech Mahindra - Wikipedia, the free encyclopedia
Tech Mahindra has offices in more than 30 countries.[12][13] India:Kolkata, Pune, Noida, Chennai, Bangalore, Mumbai, Gurgaon, Chandigarh, Hyderabad[14]
Mahindra Satyam IT Campus, HITEC City
Mahindra Satyam Technology Center a t Bahadurpally, Hyderabad
Mahindra Satyam Development Center
Mahindra Satyam campus, Hyderabad5000
Mahindra Satyam Chennai employees at Satyamotsav, an annual cultural show
Tech Mahindra has its BPO presence in Kolkata, Chennai, Chandigarh, Pune, and Noida. It also has overseas office locations in Belfast and Newcastle.[15] Tech Mahindra has operations in more than 30 countries with 17 sales offices and 13 delivery centres. Assessed at SEI CMMi Level 5, Tech Mahindra employs over 42,000 workers.The total headcount of the company at the end of December 31, 2011 stood at 42,746 out of which software professional headcount stood at 25,218, BPO at 16,419 and support staff at 1,109. May 2012, Tech Mahindra reported a 3% increase in its revenue for the year ended March 31, to $1.15 Billion.[16] Its activities spread across a broad spectrum, including Business Support Systems (BSS), Operations Support Systems (OSS), Network Design & Engineering, Next Generation Networks, Mobility Solutions, Security consulting and Testing. The "solutions portfolio" includes Consulting, Application Development & Management, Network Services, Solution Integration, Product Engineering, Infrastructure Managed Services, Remote Infrastructure Management and BSG (comprises BPO, Services and Consulting).Tech Mahindra has implemented more than 15 Greenfield Operations globally and has over 128 active customer engagements mostly in the Telecom sector. The company has been involved in about 8 transformation programs of incumbent telecom operators. With an array of service offerings for TSPs, TEMs and ISVs, Tech Mahindra serves:[citation needed ]
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Tech Mahindra - Wikipedia, the free encyclopedia
After the Satyam Episode 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.[17] 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 big deals that Tech Mahindra played. 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 big deals that Tech Mahindra played.
Merger with Mahindra Satyam Tech Mahindra announced its merger with Mahindra Satyam on March 21, 2012,after the board of two companies gave the approval,to build a 2.5-billion $ IT Company in India.[18][19][20] The two firms had received the go-ahead for merger from the Bombay Stock Exchange and the National Stock Exchange. [21] On June 11, 2013,Andhra Pradesh High Court gave its approval for the merger of Mahindra Satyam with Tech Mahindra,after Bombay high court already gave its approval.[22][23][24][25] Vineet Nayyar said that technical approvals from the Registrar of Companies(RoC) in Andhra Pradesh and Maharashtra are required which will be done in two to four weeks,and within 8 weeks,new merged entity will be in place,a new organisation chart would also come into force led by Anand Mahindra as Chairman, Vineet Nayyar as Vice Chairman and C. P. Gurnani as the CEO and Managing Director.[26][27][28] On June 25, 2013,Tech Mahindra announced completion of Mahindra Satyam's merger with itself to create nation's fifth largest software services company with a turnover of USD 2.7 billion.[29][30] Tech Mahindra got the approval from the registrar of companies for the merger late in the night at 11:45 pm on June 24, 2013. July 5, 2013 has been determined as record date on which the Satyam Computer Services ('Mahindra Satyam') shares will be swapped for Tech Mahindra shares under the approved scheme, which was approved by both the boards. [31] Mahindra Satyam (Satyam Computer Services), was suspended from trading with effect from July 4, 2013, following its merger with Tech Mahindra . [32] Tech Mahindra completed share swap and allocated its shares to the shareholders of Satyam Computer Services on July 12, 2013.[33] The stock exchanges have accorded their approval for trading the new shares effective July 12, 2013. Tech Mahindra posted net profit of Rs 686 crore for the first quarter ended June 30, 2013, up 27% compared to the corresponding quarter last year.[34][35][36]
See also
Mahindra Group V-C Anand Mahindra
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Tech Mahindra - Wikipedia, the free encyclopedia
For tune India 500
References 1. ^ Satyam is history: Mahindra Group merges Satyam with Tec h Mahindra ( http://ww w.dec canchronicle.com/130626/news-businesstech/article/satyam-historymahindra-group-merges-satyam-tech-mahindra) 2. ^ a b c "Fast Facts of T ech Mahindra" (http://www .techmahindra.com/about_tech_mahindra/revenue.aspx). Tech Mahindra. 3. ^ "Tech Mahindra's bid price for Satyam was expected: JR Varma - CNBC-TV18" (http://www .moneycontrol.com/india/news/business/tech-mahindras-bid-pricefor-satyam-was-expected-jr-varma/393142). Moneycontrol.com. Retrieved 2012-10-01. 4. ^ "R anking of Top 500 Companies" (http://financeshop.capitalmarket.com/compendium/rankingcompendium.htm). 5. ^ htt p://www .business-standard.com/article/companies/tech-mahindra-readies-for- big-leap-113071101079_1.html 6. ^ htt p://www .thehindu.com/business/Industry/185-swap-for-t ech-mahindra-mahindra-satyam-merger/article4849296.ece 7. ^ htt p://www .thehindubusinessline.com/industry-and-economy/info-tech/satyam-is-history-merger-with-tech-mahindra-complete/article4848975.ece 8. ^ htt p://www .hindustantimes.c om/business-news /CorporateNews/Tec h-Mahindra-formally-sw allows-Satyam-label/Article1-1082364.aspx 9. ^ htt p://www .thehindubusinessline.com/industry-and-economy/info-tech/there-was- a-risk-element-attached-to-the-mahindra-satyam-name/article4850354.ece 10. ^ "Tech Mahindra acquires Sweden-based Type Approval Lab" (http://articles.economictimes.indiatimes.com/2013-04-24/news/38790530_1_comviva-hutchisonglobal-services-tech-mahindra). T he Economics T imes. Retrieved 2012-04-24. 11. ^ htt p://www .business-standard.com/article/companies/tech-mahindra-goes-for-grow th-by-acquisition-113101500020_1.html 12. ^ "Tech Mahindra > Location Details > Computers - Software > Location Details of Tech Mahindra - BSE: 532755, NSE: TECHM" (htt p://ww w. moneycontrol.com/c ompany-facts/techmahindra/locations/TM4). Moneycontrol.com. Retrieved 2012-10-01. 13. ^ "Tech Mahindra Limited Off ice Photos" (http://www .glassdoor.com/Photos/Tech-Mahindra-Limited-Office-Photos-E135932.htm). Glassdoor. Retrieved 2012-1001. 14. ^ "Contact Details & off ices are in Asia, Africa, America, Europe & Australia" (http://www. techmahindra.com/c ontacts/techmahindra_contact.aspx). Tech Mahindra. Retrieved 2012-10-01. 15. ^ htt p://www .sourc ingline.com/resourc es/tech-mahindra-opens-new-office-in-chandigarh-india 16. ^ "Tech Mahindra revenue up 3%" (http://timesofindia.indiatimes.c om/tech/news/sof tware-services/Tec h-Mahindra-revenue-up-3/articleshow/13447068.cms). Retrieved 24 May 2012. 17. ^ Tech Mahindra wins Satyam bid (http://ibnlive.in.com/news/tech-mahindra-wins-satyam-bid--full-coverage/90124-7.html) 18. ^ "Mahindra Satyam's merger with Tech Mahindra next year" (http://articles.economictimes.indiatimes.com/2011-11-10/news/30382215_1_mahindra-satyam-upaidcase-vineet-nayyar). The Times Of India . 10 November 2011. 19. ^ R ising wages can harm Indian IT companies: Vineet Nayyar, Vice-Chairman, Tech Mahindra (http://articles.economictimes.indiatimes.com/2011-0621/news/29683399_1_tech-mahindra-mahindra-satyam-mahindra-satyam-tech-mahindra-sixth-largest-softw are-exporter/) 20. ^ /Tech Mahindra, Satyam get nod to merge ( http://ww w.livemint.com/2012/03/21094345/Tech-Mahindra-Satyam-get-nod.html)
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25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36.
Tech Mahindra - Wikipedia, the free encyclopedia
^ htt p://www. deccanchronicle.com/130612/news-businesstech/article/decks-c leared-end-satyam ^ htt p://indiatoday.intoday.in/story/m-satyam-tech-mahindra-hope-to-merge-in-four-w eeks/1/279629.html ^ htt p://www. moneycontrol.com/news /business/w ill-complete-tech-mah-satyam-merger8-weeks-nayyar-_896218.html ^ htt p://www. thehindu.com/business/Industry/high-court-c lears-merger- of-mahindra-satyam-with-tech-mahindra/article4803837.ece ^ htt p://zeenews.india.com/business/news/c ompanies/mahindra-satyam-merges-with-tech-mahindra_78656.html ^ htt p://www. moneycontrol.com/news /business/tech-m ahindra-satyam-computer-complete-merger_905059.html ^ htt p://www. deccanchronicle.com/130626/news-businesstech/article/satyam-history-mahindra-group-merges-satyam-tech-mahindra ^ htt p://www. moneycontrol.com/news /market-news/tradingmahindra-satyam-to-be-suspendedjuly-4_908200.html ^ htt p://www. business-s tandard.com/article/companies/satyam-is-no-more-to-live-on-as-part-of-tech-mahindra-113071400336_1.html ^ htt p://www. rediff.com/business/report/tech-mahindra-completes-share-swap-issued-capital-goes-up/20130712.htm ^ htt p://timesofindia.indiatimes.c om/business/india-business/Tec h-Mahindra-completes-share-s wap/articleshow/21044763.cms ^ htt p://www. business-s tandard.com/article/companies/tech-mahindra-q1-net-up-27-y-o-y-113081200500_1.html
External links Off icial website (http://www.techmahindra.com/) Retrieved f rom "http://en.wikipedia.org/w/index.php?title=Tech_Mahindra&oldid=593399609" Categories: International information technology consulting firms Software companies of India Companies listed on the Bombay Stock Exchange Companies established in 1986 Outsourcing companies Mahindra Group 1986 establishments in India
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