Monday, April 13, 2009

Tech Mahindra to buy Satyam, shares surge

Satyam is in news again today, this time for right reasons. The controversial tech giant has been bought over by Tech Mahindra as a share price of Rs 58 per share.
Tech Mahindra will have to pay Rs 1757cr for 31 per cent of Satyam Computer Services. Satyam will have market cap of Rs 5,666 cr on expanded equity, will have to pay total of Rs 2890 cr for 51 per cent stake.
The Satyam acquisition will help Tech Mahindra to diversify its IT services and into new areas instead of just depending on the telecom sector.

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