Edge Rewrite
everything Source code View original
// HTMLRewriter · presentation

This page was redesigned at the edge.

Cloudflare fetched the original article and streamed it through HTMLRewriter to apply an entirely new visual system without rebuilding the source page.

// request.cf · coarse context

A page that knows where it met you.

Only coarse request metadata is shown. This demo does not display or persist visitor IP addresses.

Country
US
Cloudflare location
CMH
Connection
HTTP/2
Language
Not provided

Ray ID: a40ce310edf2aea1

Jump to content

Tech Mahindra

From Wikipedia, the free encyclopedia
(Redirected from TechMahindra)

Tech Mahindra
FormerlyMahindra British Telecom (1986–2006)
TypePublic
ISININE669C01036
IndustryInformation technology
Consulting
Outsourcing
Founded24 October 1986; 39 years ago (24 October 1986)
FounderAnand Mahindra
HeadquartersPune, Maharashtra, India
Area served
Worldwide
Key people
RevenueIncrease ₹56,847 crore (US$5.9 billion) (2026)
Increase ₹6,845 crore (US$710 million) (2026)
Increase ₹4,805 crore (US$500 million) (2026)
Total assetsIncrease ₹49,369 crore (US$5.1 billion) (2026)
Total equityIncrease ₹30,077 crore (US$3.1 billion) (2026)
Number of employees
148,731 (March 2025)[4]
ParentMahindra Group
Websitewww.techmahindra.com
Footnotes
Financials as of 31 March 2026.[5]

Tech Mahindra is an Indian multinational information technology services and consulting company. It was formed in 1986 as a joint venture between Mahindra & Mahindra and BT Group. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai.[6]

History

[edit]

In 1986, Mahindra & Mahindra started a 60:40 joint venture technology services outsourcing firm with British Telecom named Mahindra British Telecom (MBT). In 2000, British Telecom committed business of at least £105 million over three years; as a consideration, British Telecom's stake in MBT increased to 43%.[7] MBT primarily served the telecommunications industry in its early years, with British Telecom as its largest client.[8]

In 2006, MBT was renamed as Tech Mahindra,[9] and it became a publicly-listed company via an initial public offering.[10] In December 2010, British Telecom sold 5.5% of its stake in Tech Mahindra to Mahindra & Mahindra for ₹451 crore.[11] In August 2012, British Telecom sold 14.1% of its stake to institutional investors for about ₹1,395 crore. In December 2012, British Telecom sold its remaining 9.1% stake to institutional investors for ₹1,011.4 crore. This sale marked the exit of British Telecom from Tech Mahindra.[12]

Acquisition and merger of Satyam

[edit]

In the aftermath of the Satyam scandal, Tech Mahindra emerged as the top bidder for a 31% controlling stake in Satyam Computer Services, beating a bid from Larsen & Toubro, in April 2009.[13][14] After the completion of the acquisition, Satyam Computer Services was renamed Mahindra Satyam in June 2009.[15] Tech Mahindra's stake in Satyam increased to 42% through a preferential share allotment in July 2009.[16]

A building in the Bangalore campus of Tech Mahindra c. 2017

In 2010, Mahindra Satyam and Morpho were awarded a contract by UIDAI to implement the biometric identification system for the Aadhaar programme.[17] Mahindra Satyam, along with Tech Mahindra, was the official IT services provider for the 2010 and 2014 FIFA World Cups.[18][19]

Tech Mahindra announced its merger with Mahindra Satyam on 21 March 2012, after getting approval of the two company boards.[20] The new organization would be led by Anand Mahindra as Chairman, Vineet Nayyar as Vice Chairman, and C. P. Gurnani as the CEO and Managing Director.[21][22] On 25 June 2013, Tech Mahindra completed the merger to become India's fifth largest software services company with a turnover of $2.7 billion.[23][24][25] The merger diversified Tech Mahindra's revenue mix, with the telecommunication vertical's share declining from over 90% in 2009[26] to 47% in 2013.[27][28]

Later years

[edit]

In 2013, Mahindra Group company Mahindra Engineering Services (MES) merged with Tech Mahindra.[29] In 2015, Tech Mahindra and Mahindra & Mahindra (M&M) jointly purchased a controlling stake in Pininfarina S.p.A., an Italian automotive and industrial design company.[30] By March 2016, Tech Mahindra's post-tax earnings had surpassed that of M&M.[31] Tech Mahindra was ranked 5th among India's IT firms and overall 47th on the Fortune India 500 list for 2019.[32] Since 2023, Tech Mahindra and FIDE have organized the Global Chess League, an over-the-board rapid chess league.[33][34][35] In 2025, Tech Mahindra was one of the eight entities selected by the IndiaAI Mission to develop a sovereign foundation LLM.[36]

Acquisitions

[edit]

Notable acquisitions by Tech Mahindra include:

YearCompanyCountryIndustryAcquisition cost
2005Axes Technologies[37]United StatesTelecom engineering$54 million
2007iPolicy Networks[38]United StatesNetwork securityUndisclosed
2009-13Satyam Computer Services[39]IndiaIT services$600 million
2012Hutchinson Global Services[40]United StatesBusiness process outsourcing$87 million
2012Comviva[41]IndiaTelecom VAS$48 million
2014Lightbridge Communications Corporation (LCC)[42]United StatesTelecom network services$240 million
2015SOFGEN Holdings[43]SwitzerlandBanking technology consultingUndisclosed
2015Pininfarina[44]ItalyAutomotive design engineering€168 million
2016Target Group[45]United KingdomBusiness process outsourcing£120 million
2016The Bio Agency[46]United KingdomDigital consulting£45 million
2017HCI Group (CJS Solutions Group)[47]United StatesHealthcare technology$89.5 million
2019Mad*Pow [48]United StatesDesign strategy agencyunknown
2019BORN Group[49]United StatesContent agency$90 million
2020Zen3 Infosolutions[50]United StatesEnterprise software$64 million
2020Cerium Systems[51]IndiaIC and embedded software$32.1 million
2020Tenzing Group[52]New ZealandManagement consulting$29.5 million
2021Perigord[53]IrelandDigital services€21 million
2021DigitalOnUs[54]United StatesCloud and DevOps services$120 million
2021Eventus Solutions Group[55]United StatesCX consulting$44 million
2021Brainscale[56]United StatesCloud consulting$28.8 million
2021Lodestone (Infostar)[57]United StatesProduct engineering$105 million
2021Activus Connect[58]United StatesCX technology$62 million
2021Allyis Group[59]United StatesIT consulting$125 million
2022Com Tec Co (CTC)[60]CyprusIT consulting€310 million
2022Thirdware[61]IndiaEnterprise software$42 million

Operations

[edit]

For the year ended March 2025, the company derived 85.9% of its revenue from IT consulting, software application development and maintenance services, and the remaining 14.1% from business process services and outsourcing.[62]

Financials

[edit]
Year Revenue (In crores) Profits/Loss (In crores) Ref.
2021 37,885 4,351 [63]
2022 Increase 44,646 Increase 5,627
2023 Increase 53,290 Decrease 4,886
2024 Decrease 51,995 Decrease 2,386
2025 Increase 52,988 Increase 4,244

See also

[edit]

References

[edit]
  1. ↑ "Tech Mahindra appoints Mohit Joshi as MD & CEO designate". 11 March 2023.
  2. ↑ "Experts call for building digital infra, upskilling to tap IT talent in small cities". 16 February 2025.
  3. ↑ "This Indian IT company added highest number of employees in second quarter of FY2025 among the Top 5 IT companies in India". 23 October 2024.
  4. ↑ Nagasundaram, Dhanya (24 April 2025). "Tech Mahindra Q4 Results: Cons PAT soars 76.5% YoY to ₹1,166.7 crore". Mint. Retrieved 24 April 2025.
  5. ↑ "Consolidated Financial Results for the quarter and audited results for the year ended March 31, 2026" (PDF). Tech Mahindra. Archived from the original (PDF) on 9 May 2026. Retrieved 9 May 2026.
  6. ↑ "Tech Mahindra". techmahindra.com. TechMahindra. Retrieved 1 January 2018.
  7. ↑ "British Telecom commits Rs 7250/- million business to MBT over three years". Rediff. Retrieved 9 September 2024.
  8. ↑ "Tech Mahindra bags $700 mn deal from British Telecom". The Economic Times. 16 May 2008. Retrieved 9 September 2024.
  9. ↑ "MBT to be renamed Tech Mahindra". Business Standard. 14 February 2006. Retrieved 5 September 2024.
  10. ↑ "Tech Mahindra sets IPO price band at Rs 315-Rs 365". The Economic Times. 27 July 2006. Retrieved 5 September 2024.
  11. ↑ "BT Group to exit from Tech Mahindra, directors resign". Economic Times. 24 December 2011. Archived from the original on 5 July 2015. Retrieved 4 July 2015.
  12. ↑ "BT exits Tech Mahindra". The Hindu. 12 December 2012. ISSN 0971-751X. Retrieved 10 August 2026.
  13. ↑ "Tech Mahindra wins Satyam Computer bid". IBNLive. Archived from the original on 16 April 2009.
  14. ↑ PTI (12 April 2009). "Tech Mahindra wins Satyam bid". India Today. Retrieved 10 August 2026.
  15. ↑ "Satyam renamed as Mahindra Satyam". Business Standard. 22 June 2009. Retrieved 5 September 2024.
  16. ↑ "Tech M now has 42% stake in Satyam". Business Standard. 2 July 2009. Retrieved 19 July 2025.
  17. ↑ "Mahindra Satyam, Morpho selected as key partners for UIDAI". The Economic Times. 30 July 2010. Retrieved 19 July 2025.
  18. ↑ Shuey, Scott (12 June 2010). "Mahindra Satyam gets major brand boost through World Cup". Gulf News. Retrieved 19 July 2025.
  19. ↑ "TechM kicked about World Cup ties". BusinessLine. 16 June 2014. Retrieved 19 July 2025.
  20. ↑ "Tech Mahindra, Satyam get nod to merge". 21 March 2012. Archived from the original on 22 March 2012.
  21. ↑ Sharma, E. Kumar (11 June 2013). "M-Satyam, Tech Mahindra hope to merge in four weeks". India Today. Retrieved 10 August 2026.
  22. ↑ "MSat-Tech Mahindra merger gets court nod". The Hindu. Chennai, India. 11 June 2013.
  23. ↑ "Mahindra Satyam merges with Tech Mahindra; becomes 5th biggest IT firm". Archived from the original on 19 June 2015. Retrieved 2013-06-25.
  24. ↑ "Tech Mahindra, Satyam Computer complete merger". www.moneycontrol.com. Archived from the original on 4 March 2016. Retrieved 10 August 2026.
  25. ↑ "1:8.5 swap for Tech Mahindra, Mahindra Satyam merger". The Hindu. Chennai, India. 25 June 2013.
  26. ↑ Mishra, Santanu (28 April 2009). "Headwinds in telecom impact Tech Mahindra's Q4". The Economic Times. Retrieved 19 July 2025.
  27. ↑ Talgeri, Kunal N. (5 December 2012). "Inside the merger!". Fortune India. Retrieved 19 July 2025.
  28. ↑ "Annual Report 2013-14" (PDF). Tech Mahindra. 27 June 2014. Retrieved 19 July 2025.
  29. ↑ Khan, Zahra (29 November 2013). "Mahindra Engineering to merge with Tech Mahindra". Mint. Retrieved 19 July 2025.
  30. ↑ "Tech Mahindra set to acquire Italian car design company Pininfarina". timesofindia-economictimes. Archived from the original on 23 December 2015. Retrieved 22 December 2015.
  31. ↑ "TECHM Shareholding Pattern - Tech Mahindra Ltd Stock". fintel.io. Retrieved 28 June 2020.
  32. ↑ "Tech Mahindra - Fortune 500 List 2019". Fortune. Archived from the original on 2 March 2022. Retrieved 2 August 2020.
  33. ↑ "FIDE and Tech Mahindra Announce Dates for First & Biggest Global Chess League". www.fide.com. Retrieved 6 August 2023.
  34. ↑ Sharma, E. Kumar (11 June 2013). "Palm River". Retrieved 10 August 2026.
  35. ↑ "Tech Mahindra, FIDE join hands for franchisee-based chess competition". Business Standard. Retrieved 10 August 2026.
  36. ↑ Ghosh, Debangana. "Tech Mahindra developing 1-trillion-parameter sovereign LLM under IndiaAI Mission". Moneycontrol. Retrieved 30 December 2025.
  37. ↑ "Mahindra British buys Axes Tech for $54m". The Economic Times. 17 November 2005. Retrieved 9 September 2024.
  38. ↑ "Tech Mahindra buys US co iPolicy Inc". Rediff. Retrieved 9 September 2024.
  39. ↑ "Tech Mahindra completes Satyam merger". VCCircle. Retrieved 9 September 2024.
  40. ↑ Shivapriya, N. (4 September 2012). "Tech Mahindra announces acquisition Hutchison Global Services for $ 87 million". The Economic Times. Retrieved 5 September 2024.
  41. ↑ "Tech Mahindra buys 51% of Bharti Group's mobile VAS firm Comviva for $48M". VCCircle. Retrieved 5 September 2024.
  42. ↑ "Tech Mahindra acquires 100% stake in Lightbridge Communications". Mint. Retrieved 5 September 2024.
  43. ↑ "Tech Mahindra to acquire Swiss firm SOFGEN Holdings". timesofindia-economictimes. Archived from the original on 14 January 2015. Retrieved 15 January 2015.
  44. ↑ Merchant, Akbar (14 December 2015). "Mahindra acquires Pininfarina design house". Autocar India. Retrieved 5 September 2024.
  45. ↑ "Tech Mahindra to acquire UK's Target Group for up to $175 mn". VCCircle. Retrieved 5 September 2024.
  46. ↑ "Tech Mahindra acquires UK's The BIO Agency". BusinessLine. 22 June 2016. Retrieved 11 April 2025.
  47. ↑ Usmani, Azman (6 March 2017). "Tech Mahindra To Acquire U.S.-Based Healthcare IT Consulting Firm, HCI Group". NDTV Profit. Retrieved 5 September 2024.
  48. ↑ "Tech Mahindra Acquires Leading Strategic Design Consultancy, Mad*Pow". Tech Mahindra. 30 July 2019. Retrieved 4 November 2025.
  49. ↑ Sriram, M. (5 November 2019). "Tech Mahindra acquires New York-based BORN Group for $95 million". Mint. Retrieved 26 November 2019.
  50. ↑ "Tech Mahindra to acquire Zen3 Infosolutions for Rs 460 crore in all-cash deal". Business Today. 24 February 2020. Retrieved 5 September 2024.
  51. ↑ Kapur, Narinder (13 April 2020). "Tech Mahindra tweaks terms to acquire Cerium Systems, Zen3 Infosolutions". VCCircle. Retrieved 19 July 2025.
  52. ↑ Baruah, Ayushman (27 October 2020). "Tech Mahindra acquires Momenton and Tenzing to boost financial services biz". Mint. Retrieved 11 April 2025.
  53. ↑ "Tech Mahindra acquires 70% stake in Dublin-based Perigord for $25.06 million". Financial Express. 16 March 2021. Retrieved 11 April 2025.
  54. ↑ "Tech Mahindra acquires DigitalOnUS for $120 million". BusinessLine. 20 April 2021. Retrieved 5 September 2024.
  55. ↑ "Tech Mahindra to acquire Eventus Solutions Group for up to $44 million". The Economic Times. 26 April 2021. Retrieved 5 September 2024.
  56. ↑ "Tech Mahindra acquires US cloud consulting firm Brainscale". Business Standard. Retrieved 5 September 2024.
  57. ↑ "Tech Mahindra acquires Lodestone, WMW". The Economic Times. 25 October 2021. Retrieved 5 September 2024.
  58. ↑ "Tech Mahindra buys Activus". Mint. Retrieved 5 September 2024.
  59. ↑ "Tech Mahindra to acquire 100% stake in US-based Allyis Group". Mint. Retrieved 5 September 2024.
  60. ↑ "Tech Mahindra Acquires Com Tec Co IT Ltd and invests in two InsurTech platforms". The Economic Times. 17 January 2022. Retrieved 5 September 2024.
  61. ↑ "Tech Mahindra to completely acquire Thirdware for Rs 320 cr". Business Standard. Retrieved 5 September 2024.
  62. ↑ "Integrated Annual Report 2024-25" (PDF). Tech Mahindra. p. 315. Retrieved 16 October 2025.
  63. ↑ "Tech Mahindra Stock Shares Price". Archived from the original on 20 September 2025. Retrieved 31 October 2025.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Tech_Mahindra&oldid=1371747682"