Tech Mahindra is the new owner of Satyam computers.The company bid the highest at Rs 58 per share which beaten the bids from engineering firm Larsen & Toubro and billionaire investor Wilbur Ross.
L & T bid at Rs 45.90 per Satyam share.Cognizant-Wilbur Ross combine had put in their bid at Rs 20/share for the fraud hit IT co.Tech Mahindra will have to pay Rs 1,757 crore to acquire 31% stake in satyam Computer Services.The IT co will have a market cap of Rs 5,666 crore on expanded equity.
Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam.
This acquisition will help Tech Mahinder to expand their software services business and compete with their bigger rivals such as IBM, TCS, Infosis and Wipro.Satyam customers such as GE, GM and ford promised to maintain their relationship and build better portfolia of customers.
This acquisition will help Tech Mahinder to expand their software services business and compete with their bigger rivals such as IBM, TCS, Infosis and Wipro.Satyam customers such as GE, GM and ford promised to maintain their relationship and build better portfolia of customers.
To watch Satyam Computer Services Bid Click here
Hope now Satyam Computer Services is in safe hands of Tech Mahindra.
1 comments:
April 13, 2009 at 6:09 PM
Thanks for sharing the news!!
Post a Comment