Tech Mahindra

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Tech Mahindra Ltd.

Type Public (NSE: TECHM)

Industry IT services

Founded 1986

Headquarters Pune, India

Anand Mahindra (Chairman)

Key people Vineet Nayyar (Vice Chairman, MD &
CEO)

Products Telecom Software & Solutions

Information technology services, BPO and

Services
solutions

Revenue $976.6 million (2010)[1]

Employees 33,524 (2010)

Mahindra Group (44%)

Parent
BT Group plc (39%)
 Website TechMahindra.com

Tech Mahindra Ltd. (TechM) formerly Mahindra British Telecom (MBT) is an Information
Technology service provider company headquartered in Pune, India.[2] It is a joint venture
between the Mahindra Group and BT Group plc, UK with M&M (Mahindra and Mahindra)
holding 44% and BT holding 39% of the equity. Tech Mahindra has its headquarter at Pune.
Tech Mahindra has grown rapidly to become the 5th largest software exporter in India
(Nasscom, 2009) and 1st largest Telecom Software Provider in India (Voice & Data, 2009). It
had more than 34,200 employees in March 2010.

With its core strength in providing Telecom Solutions, Tech Mahindra provides a wide variety of
services ranging from IT Strategy and Consulting to Systems Integration, Application
Development & Maintenance, BPO, Infrastructure Management, Civil Services, Network
Transformation Solutions & Services, Value Added Services and Product Engineering. Tech
Mahindra is ISO 9008:2000 certified and is assessed at SEI-CMMi Level 2 and SEI-PCMMi
Level 3. Tech Mahindra is also BS5543 certified across all development centers.

Some of its largest clients are BT, AT&T, Alcatel-Lucent & O2. Significant portion of revenues
comes from UK, but the company is aggressively expanding in other major economies like US,
Continental Europe, ANZ, Canada & Middle East.

Its executive management team consists of Vineet Nayyar (Vice Chairman, MD and CEO),
Sonjoy Anand (Chief Financial Officer), L. Ravichandran (President - IT Services), Sujit Baksi
(President – Corporate Affairs and BPO), Atul Kunwar (Chief Business Development Officer),
Ragiv Ratnakar (EVP of Corporate Strategy), Rakesh Soni (Chief Operating Officer).

Contents
[hide]

• 1 Milestones
• 2 Satyam changed to Mahindra Satyam
• 3 Subsidiaries
• 4 Competitors
• 5 World Wide Locations
• 6 References

• 7 External links

[edit] Milestones
• 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
• 1995 - Established the UK branch office
• 2001 - Incorporated MBT GmbH, Germany incorporated. Re-certified to ISO 9001:1994
by BVQI
• 2002 - Assessed at Level 2 of SEI CMM by KPMG. Incorporated MBT Software
Technologies Pte. Limited, Singapore
• 2005 - Acquired 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 Satyam.Tech Mahindra has won the bid for Satyam Computer
Services. Tech M bid for Satyam at Rs 58.90 per share, while Larsen & Toubro, the other
player in the fray, bid at Rs 45.90

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.[3] 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.

Tech Mahindra will be paying 17.6 billion Indian rupees (US$354 million) for a 31 percent stake
in Satyam, through a preferential issue of equity. It will also acquire another 20 percent equity
through a public offer to other Satyam shareholders.The move by Tech Mahindra to acquire a
majority stake in Satyam may put off clients from outside the telecommunications industry,
according to analysts. Tech Mahindra also ventured into exclusive partnerships with North
American companies such as Software Development company RCE Technologies (Toronto,
Ontario, Canada) and B2B Appointment Setting/B2B Lead Generation company Partner Source
(Minneapolis, Minnesota, United States) to offer all of its outsourcing services. Tech Mahindra
has a serious focus on technology, but some of Tech Mahindra's key managers have experience
in other industries from their previous jobs, Nayyar said.

[edit] Satyam changed to Mahindra Satyam

Following the results of Satyam Bid in favour of Tech Mahindra on June 21, 2009 Satyam
Computer Services Limited (NYSE: SAY), unveiled its new brand identity, “Mahindra Satyam.”

[edit] Subsidiaries
The Company’s subsidiaries include Tech Mahindra (Americas) Inc., Tech Mahindra GmbH,
Tech Mahindra (Singapore) Pte. Ltd., Tech Mahindra (R & D Services) Ltd., Tech Mahindra
(Thailand ) Ltd. and PT Tech Mahindra Indonesia. In January 2007, the Company acquired
iPolicy Networks Private Limited (renamed iPolicy Networks Limited), which develops next
generation, carrier-grade integrated network security solutions for enterprise and service
providers. In July 2008, Tech Mahindra Limited announced that Tech Mahindra (R&D Services)
Inc USA, a wholly owned subsidiary of the Company, had been merged with Tech Mahindra
Americas Inc. USA, also a wholly owned subsidiary of the Company.

[edit] Competitors
Its competitors are Tata Consultancy Services, Cognizant Technology Solutions, Aricent,
Infosys, Wipro, HCL Technologies, Alcatel Lucent.

[edit] World Wide Locations

Tech Mahindra's global footprint spans 24 locations in 14 countries including 11 state-of-the-art
development centres and 13 sales offices in Americas, Europe, Middle-east, Africa and Asia-
Pacific.

• Asia Pacific: Pune, Mumbai, Bengaluru, Noida, Kolkata, Chandigarh, Chennai, Jaipur,
Hyderabad, Singapore, Sydney, Melbourne, Auckland, Bangkok, Taipei, Jakarta, Kuala
Lumpur
• Europe: Milton Keynes, Belfast, Munich, Düsseldorf, Rome, Brussels
• Americas: Piscataway Township, New Jersey, Alpharetta, Georgia, Toronto, Richardson,
Texas, Minneapolis, Minnesota (Partner Source Headquarters), San Jose, California
• Middle East & Africa: Dubai, Cairo, Tel Aviv

[edit] References
1. ^ "Tech Mahindra Newsroom:Fast Facts".
http://www.techmahindra.com/content/investor/TML_AR_2009_final.pdf. Retrieved 2009-11-11.
2. ^ Tech Mahindra's bid price for Satyam was expected: JR Varma
3. ^ Tech Mahindra wins Satyam bid

[edit] External links

• Tech Mahindra's Official Website
• The Mahindra Link
• Satyam's Official Link
• [http://www.business-beacon.com/kommon/bin/sr.php?
kall=wcos&cocode=136494&type=s&tab=1010 Database

[hide]v · d · eMahindra Group

 Mahindra Group · Mahindra Ugine Steel · Tech
Mahindra · Mahindra Satyam · Mahindra & Mahindra
Companies Limited · Mahindra Gujarat · Mahindra Navistar · Mahindra
Renault Limited · Mahindra Tractors · REVA · Mahindra
Holidays & Resorts · Mahindra Aerospace

Mahindra United · SsangYong Motor Company · Jiangling

Notable non-Indian Companies
Tractors · Gippsland Aeronautics

Institutions/College Mahindra United World College of India

Notable People Anand Mahindra

Retrieved from "http://en.wikipedia.org/wiki/Tech_Mahindra"
Categories: Companies listed on the National Stock Exchange of India | Software companies of
India | Companies listed on the Bombay Stock Exchange | Companies established in 1986 |
Outsourcing companies | Software companies based in Pune | Mahindra Group
Hidden categories: Articles needing additional references from November 2010 | All articles
needing additional references

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