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This article may require cleanup to meet Wikipedia's quality standards. (June 2012) |
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It has been suggested that this article be merged with Mahindra Satyam. (Discuss) Proposed since April 2012. |
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| Type | Public (BSE: 532755, NSE: TECHM) |
|---|---|
| Industry | IT services, IT consulting |
| Founded | 1986 |
| Headquarters | Pune, India[1] |
| Key people | Vineet Nayyar (VC & CEO) |
| Services | IT, business consulting and outsourcing services |
| Revenue |  $1.15 billion (2012)[2] |
| Net income | $129 million (2012)[2] |
| Employees | 50,000(2012)[2] |
| Parent | Mahindra Group |
| Website | www.techmahindra.com |
Tech Mahindra Limited is an Indian provider of information technology (IT), networking technology solutions and business support services (BPO) to the global telecommunications industry.[3] Tech Mahindra is a part of Mahindra Group conglomerate with headquartered at Pune, India.
On 23 May 2012, Tech Mahindra reported a 3% increase in its revenue for the year ended March 31, to $1.15 Billion.[4] 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 is ranked #6 in India's software services firms behind Tata Consultancy Services, Wipro, Infosys, HCL Technologies and Satyam Computer Services and overall #161 in Fortune India 500 list for 2011.[5] 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]
Its executive management team consists of Vineet Nayyar(Executive Vice Chairman), CP Gurnani(MD), Sujit Baksi (President – Corporate Affairs & Business Services Group), Sonjoy Anand (Chief Financial Officer), L. Ravichandran (President - IT Services), Amitava Roy (Chief Operating Officer), Sujitha Karnad (Senior Vice President - HR & QMG for IT Services).
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Milestones [edit]
- 1986 - Incorporation in India
- 1987 - Commencement of Business
- 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.
- 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 HGS for $87.1 million
- 2012 - Tech Mahindra buys 51% stake in Comviva
Tech Mahindra Offices [edit]
Tech Mahindra has offices in more than 30 countries.[6][7]
Tech Mahindra has its BPO presence in Kolkata, Chennai, Chandigarh, Pune, and Noida. It also has overseas office locations in Belfast and Newcastle.[9]
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.
Acquisition of Satyam Computer Services Ltd. [edit]
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 59 a share for a 31 per cent stake in the company, beating a strong rival Larsen & Toubro.[10] 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 big deal Tech Mahindra played.
Merger with Mahindra Satyam [edit]
Tech Mahindra merged with Mahindra Satyam in the second half of 2012 to build a 2.5-billion $ IT Company in India.[11][12] Tech Mahindra announced its merger with Mahindra Satyam on March 21,2012,after the board of two companies gave the approval.[13] The two firms had received the go-ahead for merger from the Bombay Stock Exchange and the National Stock Exchange.[14]
See also [edit]
References [edit]
- ^ Niche talent is name of game for IT firms
- ^ a b c "Fast Facts of Tech Mahindra". Tech Mahindra.
- ^ "Tech Mahindra's bid price for Satyam was expected: JR Varma - CNBC-TV18". Moneycontrol.com. Retrieved 2012-10-01.
- ^ "Tech Mahindra revenue up 3%". Retrieved 24 May 2012.
- ^ "Fortune India 500 complete list".
- ^ "Tech Mahindra > Location Details > Computers - Software > Location Details of Tech Mahindra - BSE: 532755, NSE: TECHM". Moneycontrol.com. Retrieved 2012-10-01.
- ^ "Tech Mahindra Limited Office Photos". Glassdoor. Retrieved 2012-10-01.
- ^ "Contact Details & offices are in Asia, Africa, America, Europe & Australia". Tech Mahindra. Retrieved 2012-10-01.
- ^ http://www.sourcingline.com/resources/tech-mahindra-opens-new-office-in-chandigarh-india
- ^ Tech Mahindra wins Satyam bid
- ^ "Mahindra Satyam's merger with Tech Mahindra next year". The Times Of India. 10 November 2011.
- ^ Rising wages can harm Indian IT companies: Vineet Nayyar, Vice-Chairman, Tech Mahindra
- ^ /Tech Mahindra, Satyam get nod to merge
- ^ Mahindra Satyam-TechM to take 150 top leaders to Bangkok
External links [edit]
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