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Tech Mahindra and Mahindra Satyam To Merge

IT Giants Tech Mahindra and Mahindra Satyam will soon merge into one single company. The board of members of both the companies have finalised the merger of Tech Mahindra and Mahindra Satyam, helping India’s fifth largest software service providing company to hold a lion share in the market. Tech Mahindra currently has a market cap of Rs. 12,500 crore.

Tech Mahindra Logo

Tech Mahindra

Vineet Nayyar, Vice-Chairman and Managing Director of Tech Mahindra addressed the press about the merger and also mentioned that the new name of the combined company has not been decided yet. For the shareholders of Mahindra Satyam, here is something you will like to know. All shareholders of Mahindra Satyam will get two shares of Tech Mahindra for every 17 shares of Mahindra Satyam.

Mahindra Satyam Logo

Mahindra Satyam

After the merger, the combined company will have close to 75,000 employees on its payroll with more than 350 clients across 54 countries around the world. Also, all the current cases against Mahindra Satyam will now be dealt by Tech Mahindra. This entire deal is being carried forward by Ernst and Young, JPMorgan and Morgan Stanley.

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