Archive for satyam

Tech Mahindra wins Satyam Computers

Posted in Business, Infotainment with tags , , , , , , , on April 15, 2009 by shivendran

Tech Mahindra a popular software concern in India has won the auction for Satyam computers outbidding other competitors L & T and Wilbur Ross.

Satyam after the money laundry scandal had it’s board of directors reappointed by the government.The new board had decided to give out Satyam computers in an auction.The auction had Software Tycoons like L & T,Wilbur Ross and Tech Mahindra in the competition.It was strongly believed that L & T which was the biggest shareholder would take Satyam.

The results of the auction is out and Tech Mahindra has bought out Satyam Computers with 30.28 crore shares which is 31% of the total shares and sums upto Rs.1,756 crores.Anand Mahindra,Chairman Tech Mahindra, addressed the press saying “This is a landmark development for Tech Mahindra and I am delighted that we are the highest bidder for Satyam”.