Tech Mahindra – Mahindra Satyam merger consummated
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, recently announced the formal amalgamation of Mahindra Satyam with Tech Mahindra. The merged entity, which has been ranked among the top five Indian IT services companies, creates a technology services powerhouse with revenues of USD 2.7 Billion and a team of 84,000 professionals servicing 540 customers across 46 countries, including the Middle East region.
According to the company’s senior officials, the new Tech Mahindra brand dons a new look and logo, which reflects the heritage of the Mahindra Group while its new positioning represents the new connected world, offering innovative and customer-centric services and solutions.
Also being noted is that the strengths of the two entities remain widely intact, even after the consummation of the merger. In light of the announcement, Tech Mahindra’s focus will continue to be on telecommunications, enterprise and business services group (BSG)—which are the three key pillars of the combined organizations. The combined entity is being positioned to service more than 100 clients in the Middle East region, across key industries like Energy, Utilities, Retail, Banking, Finance, Airports, Railways and Sports.
Industry experts have shared that traditional enterprises are now making the shift towards becoming digital-based enterprises. The transformation requires the convergence of cutting edge skills in Network, Mobility, Analytics, Cloud, Security, Social & Sensors (NMACS). The new Tech Mahindra positioning will be ‘Connected World, Connected Solutions,’ wherein all of its solutions and services will bring the ‘connectedness’ needed in leveraging NMACS technologies to provide a seamless experience for its customers.
“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.
CP Gurnani, Managing Director and CEO, 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.”
Replacing Bobby Gupta in MENA will be G B Kumar, a well-known IT industry veteran with 20+ years of in product and services, sales, marketing, business and solution development across Asia Pacific, India, Japan and China. Kumar is expected to help grow the company’s Middle East revenues, contributing to the global target of USD 5 billion by 2015. To date, ongoing projects in the region are worth in excess USD 150 Million
“The announcement of this merger makes Tech Mahindra a technology powerhouse to reckon with in the Middle East region. This latest development will now allow our customers to leverage the inherent strengths of the combined companies. Tech Mahindra customers and prospects can now leverage the best practices across Mahindra IT sector; bringing in economies of scale; driving operational efficiency and serving their customer better with our in-depth Verticalised services/solutions and wider global delivery capabilities,” concluded Kumar.
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.