Friday, May 04, 2012
Dubai The merger of Mahindra Satyam and Tech Mahindra is likely to be completed in the next eight to nine months without major obstacles.
An annual general body meeting of Tech Mahindra shareholders will be held next month to consider the merger proposal, a top company official told Gulf News.
“Both companies have received clearance from stock exchanges [BSE and NSE]. We expect the entire process to take less than nine months, however given the regulatory process involved it is difficult to predict the exact timeframe,” Hari T., Chief Marketing Officer and Chief People Officer at Mahindra Satyam, said.
Full service provider
He said: “As a combined entity, we would be known as a full service provider with services offerings in all industry verticals and competencies. In some of the business like telecom, we are already market leaders with $1 billion (Dh3.67 billion) plus in size and we would like to maintain this leadership position and further grow there.”
The merger is expected to create India’s fifth-largest IT services company with a revenue of more than $2.5 billion.
“We will be focusing on key growth verticals such as networks, mobility solutions, business analytics, cloud-based solutions and network security. In the current scenario, we are looking at a 360 degree growth. The Middle East, North America and APAC regions are of importance to us in the days to come,” Hari said.
By Naushad K. Cherrayil?Staff Reporter
Gulf News 2012. All rights reserved.
