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Tech Mahindra
please note:
- the content below is remote from Wikipedia
- it has been imported raw for GetWiki
{{short description|Indian multinational technology company}}{{Use Indian English|date=June 2015}}{{Use dmy dates|date=June 2015}}- the content below is remote from Wikipedia
- it has been imported raw for GetWiki
| factoids |
|---|
History
Mahindra & Mahindra started a joint venture with British Telecom in 1986 as a technology outsourcing firm. At that point in time the company was named Mahindra British Telecom (MBT). Later it was renamed as Tech Mahindra. British Telecom initially had around a 30 percent stake in Tech Mahindra. In December 2010, British Telecom sold 5.5 percent of its stake in Tech Mahindra to Mahindra & Mahindra for Rs. 451 crore.WEB, BT Group to exit from Tech Mahindra, directors resign,articles.economictimes.indiatimes.com/2011-12-24/news/30554758_1_bt-group-tech-mahindra-techm, Economic Times, 4 July 2015, 24 December 2011,articles.economictimes.indiatimes.com/2011-12-24/news/30554758_1_bt-group-tech-mahindra-techm," title="web.archive.org/web/20150705160534articles.economictimes.indiatimes.com/2011-12-24/news/30554758_1_bt-group-tech-mahindra-techm,">web.archive.org/web/20150705160534articles.economictimes.indiatimes.com/2011-12-24/news/30554758_1_bt-group-tech-mahindra-techm, 5 July 2015, dead, dmy-all, In August 2012, British Telecom sold 14.1 percent 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 crores. This sale marked the exit of British Telecom from Tech Mahindra.WEB, BT exits Tech Mahindra,www.thehindu.com/business/companies/bt-exits-tech-mahindra/article4191751.ece, The Hindu, 4 July 2015, 12 December 2012, WEB, Mukherjee, Saurav, 2023-07-26, Tech Mahindra Q1 Results: Headcount plunges 9% by 4,103 in June quarter,www.livemint.com/companies/company-results/tech-mahindra-q1-results-headcount-plunges-9-by-4-103-in-june-quarter-11690371291981.html, 2023-08-17, mint, en,Acquisition of Satyam Computer Services Ltd.
After the Satyam scandal of 2008–09, Tech Mahindra bid for Satyam Computer Services, and emerged as a top bidder with an offer of INR 58.90 a share for a 31 percent stake in the company, beating a strong rival, Larsen & Toubro.WEB,ibnlive.in.com/news/tech-mahindra-wins-satyam-bid--full-coverage/90124-7.html,ibnlive.in.com/news/tech-mahindra-wins-satyam-bid--full-coverage/90124-7.html," title="web.archive.org/web/20090416110946ibnlive.in.com/news/tech-mahindra-wins-satyam-bid--full-coverage/90124-7.html,">web.archive.org/web/20090416110946ibnlive.in.com/news/tech-mahindra-wins-satyam-bid--full-coverage/90124-7.html, dead, 2009-04-16, Tech Mahindra wins Satyam Computer bid, IBNLive, After evaluating the bids, the government-appointed board of Satyam Computer announced on April 13, 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.“NEWS,www.indiatoday.in/headlines-today-top-stories/story/tech-mahindra-wins-satyam-bid-44197-2009-04-12, Tech Mahindra wins Satyam bid, India Today, 12 April 2009,Merger with Mahindra Satyam
missing image!
- Anand Mahindra (1).jpg -
Mahindra Group V-C Anand Mahindra
Tech Mahindra announced its merger with Mahindra Satyam on March 21, 2012, after getting approval of the two company boards to create an IT company worth $2.5 billion.WEB,articles.economictimes.indiatimes.com/2011-06-21/news/29683399_1_tech-mahindra-mahindra-satyam-mahindra-satyam-tech-mahindra-sixth-largest-software-exporter/, Rising wages can harm Indian IT companies: Vineet Nayyar, Vice-Chairman, Tech Mahindra, timesofindia-economictimes, WEB,www.livemint.com/2012/03/21094345/Tech-Mahindra-Satyam-get-nod.html, Tech Mahindra, Satyam get nod to merge, The two firms had received the go-ahead for the merger from the Bombay Stock Exchange and the National Stock Exchange.WEB, Kurmanath, K. V., Mahindra Satyam-TechM to take 150 top leaders to Bangkok,www.thehindubusinessline.com/info-tech/Mahindra-Satyam-TechM-to-take-150-top-leaders-to-Bangkok/article20420115.ece, live,www.thehindubusinessline.com/industry-and-economy/info-tech/article3304195.ece/," title="web.archive.org/web/20140315133139www.thehindubusinessline.com/industry-and-economy/info-tech/article3304195.ece/,">web.archive.org/web/20140315133139www.thehindubusinessline.com/industry-and-economy/info-tech/article3304195.ece/, 15 March 2014, businessline, 11 April 2012, On June 11, 2013, Andhra Pradesh High Court gave its approval for merging Mahindra Satyam with Tech Mahindra, after getting approval from the Bombay high court.NEWS,articles.timesofindia.indiatimes.com/2013-06-11/software-services/39898413_1_mahindra-satyam-tech-mahindra-merger,articles.timesofindia.indiatimes.com/2013-06-11/software-services/39898413_1_mahindra-satyam-tech-mahindra-merger," title="web.archive.org/web/20130928034113articles.timesofindia.indiatimes.com/2013-06-11/software-services/39898413_1_mahindra-satyam-tech-mahindra-merger,">web.archive.org/web/20130928034113articles.timesofindia.indiatimes.com/2013-06-11/software-services/39898413_1_mahindra-satyam-tech-mahindra-merger, dead, 2013-09-28, The Times of India, Mahindra Satyam, Tech Mahindra merger gets AP High Court’s nod, NEWS,economictimes.indiatimes.com/tech/ites/andhra-pradesh-high-court-clears-merger-of-mahindra-satyam-with-tech-mahindra/articleshow/20538518.cms, The Times Of India, Andhra Pradesh High Court clears merger of Mahindra Satyam with Tech Mahindra, June 11, 2013, NEWS,www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/mahindra-satyam-waits-for-court-order-for-merger/article4722955.ece, Chennai, India, The Hindu, Mahindra Satyam waits for Court order for merger, May 17, 2013, WEB,www.deccanchronicle.com/130612/news-businesstech/article/decks-cleared-end-satyam, Decks cleared for end of Satyam | Deccan Chronicle, 2013-06-12, dead,www.deccanchronicle.com/130612/news-businesstech/article/decks-cleared-end-satyam," title="web.archive.org/web/20131003031915www.deccanchronicle.com/130612/news-businesstech/article/decks-cleared-end-satyam,">web.archive.org/web/20131003031915www.deccanchronicle.com/130612/news-businesstech/article/decks-cleared-end-satyam, 3 October 2013, dmy, Vineet Nayyar said that technical approvals from the Registrar of Companies in Andhra Pradesh and Maharashtra are required which will be done in two to four weeks, and within eight weeks, the new merged entity would be in place. The new organization would be led by Anand Mahindra as Chairman, Vineet Nayyar as Vice Chairman, and C. P. Gurnani as the CEO and Managing Director.WEB,indiatoday.intoday.in/story/m-satyam-tech-mahindra-hope-to-merge-in-four-weeks/1/279629.html, M-Satyam, Tech Mahindra hope to merge in four weeks, WEB,www.moneycontrol.com/news/business/will-complete-tech-mah-satyam-merger8-weeks-nayyar-_896218.html, Will complete Tech Mah, Satyam merger in 8 weeks: Nayyar, 11 June 2013, NEWS,www.thehindu.com/business/Industry/high-court-clears-merger-of-mahindra-satyam-with-tech-mahindra/article4803837.ece, Chennai, India, The Hindu, MSat-Tech Mahindra merger gets court nod, June 11, 2013, On June 25, 2013, Tech Mahindra announced the completion of its merger with Mahindra Satyam to create the nation’s fifth largest software services company with a turnover of $2.7 billion.WEB,zeenews.india.com/business/news/companies/mahindra-satyam-merges-with-tech-mahindra_78656.html, Mahindra Satyam merges with Tech Mahindra; becomes 5th biggest IT firm, 2013-06-25, live,zeenews.india.com/business/news/companies/mahindra-satyam-merges-with-tech-mahindra_78656.html," title="web.archive.org/web/20150619224313zeenews.india.com/business/news/companies/mahindra-satyam-merges-with-tech-mahindra_78656.html,">web.archive.org/web/20150619224313zeenews.india.com/business/news/companies/mahindra-satyam-merges-with-tech-mahindra_78656.html, 19 June 2015, dmy, WEB,www.moneycontrol.com/news/business/tech-mahindra-satyam-computer-complete-merger_905059.html, Tech Mahindra, Satyam Computer complete merger, 25 June 2013, Tech Mahindra got the approval from the registrar of companies for the merger 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.WEB,www.deccanchronicle.com/130626/news-businesstech/article/satyam-history-mahindra-group-merges-satyam-tech-mahindra, Deccan Chronicle | Home, 2013-06-26, dead,www.deccanchronicle.com/130626/news-businesstech/article/satyam-history-mahindra-group-merges-satyam-tech-mahindra," title="web.archive.org/web/20160115033608www.deccanchronicle.com/130626/news-businesstech/article/satyam-history-mahindra-group-merges-satyam-tech-mahindra,">web.archive.org/web/20160115033608www.deccanchronicle.com/130626/news-businesstech/article/satyam-history-mahindra-group-merges-satyam-tech-mahindra, 15 January 2016, dmy, Mahindra Satyam (Satyam Computer Services), was suspended from trading with effect from July 4, 2013, following the merger.WEB,www.moneycontrol.com/news/market-news/tradingmahindra-satyam-to-be-suspendedjuly-4_908200.html, Trading in Mahindra Satyam to be suspended from July 4, 29 June 2013, Tech Mahindra completed share swap and allocated its shares to the shareholders of Satyam Computer Services on July 12, 2013.WEB,www.business-standard.com/article/companies/satyam-is-no-more-to-live-on-as-part-of-tech-mahindra-113071400336_1.html, Satyam is no more; to live on as part of Tech Mahindra, Press Trust of India, 14 July 2013, The stock exchanges have accorded their approval for trading the new shares with effect from July 12, 2013, onwards. Tech Mahindra posted net profit of INR 686 crore for the first quarter ended June 30, 2013, up 27% compared to the corresponding quarter the previous year.WEB,www.rediff.com/business/report/tech-mahindra-completes-share-swap-issued-capital-goes-up/20130712.htm, Tech Mahindra completes share swap, issued capital goes up, 12 July 2013, NEWS,timesofindia.indiatimes.com/business/india-business/Tech-Mahindra-completes-share-swap/articleshow/21044763.cms, The Times Of India, Tech Mahindra completes share swap — The Times of India, WEB,www.business-standard.com/article/companies/tech-mahindra-q1-net-up-27-y-o-y-113081200500_1.html, Tech Mahindra Q1 net up, BS Reporter, 13 August 2013, WEB, 2023-08-07, ‘Tech Mahindra to focus on deals from BFSI, healthcare, manufacturing, etc.,’ says CPO Harshvendra Soin,www.businesstoday.in/latest/corporate/story/tech-mahindra-to-focus-on-deals-from-bfsi-healthcare-manufacturing-etc-says-cpo-harshvendra-soin-393131-2023-08-07, 2023-08-17, Business Today, en, - Anand Mahindra (1).jpg -
Mahindra Group V-C Anand Mahindra
Later years
In 2014, Tech Mahindra acquired Lightbridge Communications Corporation (LCC), a telecom services company operating in over 50 countries. In 2015, Tech Mahindra acquired SOFGEN Holdings, a 450-employee Swiss IT firm supplying the financial services industryWEB,articles.economictimes.indiatimes.com/2015-01-09/news/57883595_1_tech-mahindra-lightbridge-communications-gurnani, ?Tech Mahindra to acquire Swiss firm SOFGEN Holdings, timesofindia-economictimes, 15 January 2015,articles.economictimes.indiatimes.com/2015-01-09/news/57883595_1_tech-mahindra-lightbridge-communications-gurnani," title="web.archive.org/web/20150114032047articles.economictimes.indiatimes.com/2015-01-09/news/57883595_1_tech-mahindra-lightbridge-communications-gurnani,">web.archive.org/web/20150114032047articles.economictimes.indiatimes.com/2015-01-09/news/57883595_1_tech-mahindra-lightbridge-communications-gurnani, 14 January 2015, dead, dmy-all, PRESS RELEASE,www.techmahindra.com/media/press_releases/Tech_Mahindra_Augments_Its_Core_Banking_Expertise.aspx, Tech Mahindra Augments Its Core Banking Expertise, To acquire SOFGEN Holdings Limited, Tech Mahindra purchased a controlling stake in Pininfarina S.p.A., an Italian brand in automotive and industrial designWEB,articles.economictimes.indiatimes.com/2015-12-14/news/69033382_1_tech-mahindra-debt-restructuring-design, Tech Mahindra set to acquire Italian car design company Pininfarina, timesofindia-economictimes, 22 December 2015,articles.economictimes.indiatimes.com/2015-12-14/news/69033382_1_tech-mahindra-debt-restructuring-design," title="web.archive.org/web/20151223040737articles.economictimes.indiatimes.com/2015-12-14/news/69033382_1_tech-mahindra-debt-restructuring-design,">web.archive.org/web/20151223040737articles.economictimes.indiatimes.com/2015-12-14/news/69033382_1_tech-mahindra-debt-restructuring-design, 23 December 2015, dead, dmy-all, Tech Mahindra announced the launch of its Automation Framework AQT (Automation, Quality, Time)WEB,www.business-standard.com/article/companies/tech-mahindra-aims-10-productivity-improvement-with-new-automation-platform-115122200882_1.html, Tech Mahindra rolls out automation tool to boost productivity, Bibhu Ranjan Mishra, 23 December 2015, By March 2016, Tech Mahindra’s post-tax earnings had surpassed that of M&M.WEB, TECHM Shareholding Pattern - Tech Mahindra Ltd Stock,fintel.io/so/in/techm, 2020-06-28, fintel.io, en, Tech Mahindra said it would buy financial technology firm Target Group to boost its platform business process-as-a-service offering in the banking sector.PRESS RELEASE,www.techmahindra.com/media/press_releases/Tech-Mahindra-to-acquire-Target-Group-to-augment-Platform-BPaaS-offerings-in-BFSI.aspx, Tech Mahindra to acquire Target Group - to augment Platform BPaaS offerings in BFSI, Risov Chakrabortty, 25 November 2016, In 2017, Tech Mahindra and Midad Holdings, a part of diversified business conglomerate Al Fozan Group announced the launch of a joint venture, Tech Mahindra Arabia Ltd.PRESS RELEASE, Rath, Abhishek,www.techmahindra.com/media/press_releases/Tech-Mahindra-launches-Saudi-JV-with-Al-Fozan-Group.aspx, Tech Mahindra launches Saudi JV with Al Fozan Group, techmahindra.com, 20 June 2017, On the basis of a global partnership agreement signed, Tech Mahindra markets Huawei’s enterprise products and services across 44 countries including India.PRESS RELEASE, Rath, Abhishek,www.techmahindra.com/media/press_releases/TechMahindra-to-Take-HuaweiEnterpriseProducts-To-Global-Markets.aspx, Tech Mahindra to Take Huawei Enterprise Products To Global Markets, techmahindra.com, 20 June 2017, Tech Mahindra acquired CJS Solutions Group LLC, a US-based healthcare Information Technology consulting company which does business as (DBA) “The HCI Group.“PRESS RELEASE, Rath, Abhishek,www.techmahindra.com/media/press_releases/TechMahindra-acquire-US-based-healthcare-ITservices-consultingfirm.aspx, Tech Mahindra to acquire US-based healthcare IT services & consulting firm, techmahindra.com, 20 June 2017, In 2019, Tech Mahindra acquired DynaCommerce BV.PRESS RELEASE,www.dynacommerce.com/tech-mahindra-announces-dynacommerce-acquisition/, Tech Mahindra announces DynaCommerce acquisitionLocations
Tech Mahindra has offices in more than 60 countries.WEB,www.techmahindra.com/Contact%20Us/locations.aspx, Tech Mahindra > Location Details, 2012-10-01, WEB,www.techmahindra.com/Contact%20Us/locations.aspx, Tech Mahindra, 2012-10-01, WEB,www.techmahindra.com/contacts/techmahindra_contact.aspx, Contact Details & offices are in Asia, Africa, Americas, Europe & Australia, Tech Mahindra, 2012-10-01,- India: Bangalore, Chennai, Coimbatore,WEB, Tech Mahindra Coimbatore Campus,www.techmahindra.com/en-in/techm-expands-new-campus-coimbatore/, Tech Mahindra, Hyderabad, Kochi, Kolkata, Mumbai, Mysore, Noida, Gurgaon, Nagpur, Pune, Visakhapatnam, Warangal, Vijayawada and Bhubaneswar
- Asia Pacific: China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam
- North America and South America: Argentina, Brazil, Canada, Bolivia, Colombia, Costa Rica, Ecuador, Guatemala, Mexico, Panama, Peru, and the United States of America
- Australia: Australia and New Zealand
- Europe: Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Romania, Spain, Sweden, Switzerland, and United Kingdom
- Africa: Chad, Republic of the Congo, Democratic Republic of the Congo, Gabon, Ghana, Kenya, Malawi, Nigeria, Rwanda, South Africa, Egypt , Uganda and Zambia
- Middle East: Bahrain, Israel, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates
Other
In 2023, Tech Mahindra and FIDE organized the Global Chess League, an over-the-board rapid chess league.WEB, FIDE and Tech Mahindra Announce Dates for First & Biggest Global Chess League,www.fide.com/news/2293, 2023-08-06, www.fide.com, en, NEWS, Tech Mahindra, FIDE join hands for franchisee-based chess competition, Business Standard,www.business-standard.com/companies/news/tech-mahindra-fide-join-hands-for-franchisee-based-chess-competition-123050400859_1.html,See also
References
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