* 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. But some of Tech Mahindra's key managers have experience in other industries from their previous jobs, Nayyar said.
* 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. But some of Tech Mahindra's key managers have experience in other industries from their previous jobs, Nayyar said.
No comments:
Post a Comment