Tuesday, July 16, 2013

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It's Official; Tech Mahindra Completes Merger of Satyam

Once a darling of the Indian IT sector and the stock market, the scam-hit erstwhile Satyam has formally ceased to exist as an individual entity by formally merging with Tech Mahindra.

Its journey saw a fraud bringing down the company's valuation by over 95 per cent within weeks, while a subsequent revival brought in an over 10-fold surge from the dumps.

Still, it is the remains of this once scam-hit company on which its saviour Tech Mahindra will bank upon significantly to move up the ladders of the Indian IT sector charts, say industry experts.

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