Tech Mahindra Will Enter New League,Says India Inc
Satyam s acquisition by Tech Mahindra is now more than just a formality. But for the Indian IT industry, it was a welcome change since it marks the end of the suspense and uncertainty over the last three turbulent months.
Reacting to the acquisition, Vivek Kulkarni, CEO of Brickwork India said, With this acquisition, Tech Mahindra has moved up to the league where TCS, Infosys and Wipro are present and dominating. Presently most of the IT companies are not in a great shape because of the recession and the H1 B visa policy and so even though Tech Mahindra focus has been in telecom, now they get an opportunity to move into the domain of other IT players and within a short period of 2-3 years, Satyam will be up and running.
Ajay K. Dhir, CIO of Jindal Stainless Ltd said, The acquisition of majority stake of Satyam by Tech Mahindra is a good development for both companies. Tech Mahindra will be able to leverage this acquisition to now move into the Enterprise Space and not just be considered as a pure play telecom software company. This acquisition will also give confidence to the existing clients of Satyam, many of who were adopting a wait and watch approach, and for the employees of Satyam also to have a stable and respected company to be with.
P. Balasubramaniam, assistant professor at Amrita School of Business (ASB), Coimbatore said, I feel it is the right opportunity for Tech Mahindra to emerge as the fourth largest IT export company. The only issue is the legal liabilities that may cause a little worry, but otherwise Tech Mahindra is protected since it is a take over and not a merger.
Munindra Kumar Bharatee, managing director of Serena Software said, It has been a brilliant move to acquire 500+ customers at one shot, which otherwise would have taken years to establish. I am sure many of the customers have given ultimatum of shifting out or a few even shifted but only in small numbers compared to the large customer base. I strongly feel both the verticals and the employees acquired will be great assets in the future.
Welcoming the takeover, Chandrajit Banerjee, director general of CII said, Tech Mahindra, a Rs 3,800 crores company is a competent IT services provider. This would help Satyam come back to its zenith. The takeover by Tech Mahindra would also immensely help Satyam regain its shareholder value and would also benefit its employees and customers.
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