Acquisition of Satyam Computer Services Ltd.
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. This was one of big deal Tech Mahindra played.
Read more about this topic: Tech Mahindra
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