About Tech Mahindra
Type: Public (NSE: TECHM)
Industry: IT services
Headquarters: Pune, India
Key people: Anand Mahindra (Chairman), Vineet Nayyar (Vice Chairman, MD & CEO)
Products: Telecom Software & Solutions
Services: Information technology services, BPO and solutions
Revenue: $976.6 million (2010)
Employees: 33,524 (2010)
Parent: Mahindra Group (44%), BT Group plc (39%)
Tech Mahindra Ltd. (TechM) formerly Mahindra British Telecom (MBT) is an Information Technology service provider company headquartered in Pune, India. 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).
• 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. 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.
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.”
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