Tech Mahindra set to acquire Satyam

Tech Mahindra has won the bid to acquire Satyam Computer Services against Larsen & Toubro and WL Ross & Co. Larsen & Toubro was seen as a front runner in this by many analysts.
Tech Mahindra will have to pay more than $550 million for a controlling stake in Satyam Computer Services.

"We have taken on a challenge but we are going to make it work," Chairman Anand Mahindra told reporters. "We have taken a very calculated risk. We think they are reasonable risks, but there are going to be risks."

With the buy, Tech Mahindra will be better equipped to wrest market share from rivals Tata Consultancy Services, Infosys Technologies and Wipro, and diversify away from telecoms, analysts said.

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