Ovum comments: Tech Mahindra and Mahindra Satyam to merge

London, (PresseBox) - Indian IT group Tech Mahindra has confirmed plans to merge with Mahindra Satyam, creating India's fifth-largest IT and outsourcing group by revenues.

Ed Thomas, senior analyst at Ovum has the following comment:

"It is nearly three years since Indian IT services firm Tech Mahindra secured a majority stake in local rival Satyam, so the only surprise about today's news that the two companies are to merge is that it has taken so long to happen.

"That is not to say that this announcement bring the saga to an end. It will take the rest of the year for the merger process to be concluded and no name for the combined entity has yet been announced. On this latter point, it will be interesting to see if the Mahindra Group, which will own over one-quarter of the new operation, decides to finally rid itself of the Satyam brand, which was badly tarnished by the accounting scandal that came to light in 2008."

Ovum

Ovum provides clients with independent and objective analysis that enables them to make better business and technology decisions. Our research draws upon over 400,000 interviews a year with business and technology, telecoms and sourcing decision-makers, giving Ovum and our clients unparalleled insight not only into business requirements but also the technology that organisations must support. Ovum is an Informa business.

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