Tech Mahindra: New suitor for Satyam?If the transaction goes through, it will involve Tech Mahindra merging into Satyam, creating the third-largest IT company in the country.
The international names like HP and IBM have been in news recently for being possibly interested in buying or taking position in the IT firm, Satyam. But now, it looks like the company might have domestic suitors as well. Tech Mahindra is keen on picking up a stake in Satyam and interestingly is even exploring a merger option.
Well, there may be reasons enough for this, as the company is looking forward to a chance for graduating from a niche telecom solutions provider to a full fledged IT company and Satyam could provide that opportunity.
Well, joining hands with Satyam will help Tech Mahindra to expand into the lucrative non-telecom space like SAP, BFSI and auto and at the same time reduce its dependency on British Telecom from which it earns over 60 per cent of revenue.
MindTree, a global IT and R&D services company has announced that it denied media reports claiming that Satyam Computer Services was in talks with it for a possible merger. There is no truth in the reports and MindTree completely denies the statements made in them.
Satyam Reportedly In Merger Talks With Several Firms
Troubled Indian IT services firm Satyam Computer Systems is reportedly in talks about the potential acquisition of the company with a number of rival companies, include HCL Technologies, CTS, IBM and Accenture, according to The Business Standard, which cited “investment banking sources.”
Satyam shares have been under pressure since the company last month announced and then quickly abandoned plans to acquire a pair of construction and infrastructure companies controlled by Satyam Chairman B. Ramalinga Raju and his family. Last week, there was speculation that the list of potential suitors for Satyam included IBM and Accenture.
Satyam staff may buy shares
Faced with a potentially uncertain future, some staffers of Satyam Computers are seriously considering whether they should start buying shares of the company in the market. A move to this effect began in the Hyderabad development centres of Satyam on Monday.
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