India’s Tech Mahindra Ltd. will buy Satyam Computer Services Ltd. in a stock deal that values the target at $1.8 billion to form the country’s fifth-largest software services company.
Tech Mahindra Ltd., the Indian software-services company that bought Satyam Computer Services Ltd., is considering acquisitions to curb its dependence on telecommunications clients.
Tech Mahindra Ltd. , partly owned by BT Group Plc ., plans to acquire software companies in Latin America to help more than double sales in the next three years.
AT&T Inc., the biggest U.S. phone company, sold a 7 percent stake in Tech Mahindra Ltd., which controls India’s Satyam Computer Services Ltd., after exercising an option to buy 8 percent last month.
Polaris Financial Technology Ltd., an Indian software maker, rose the most in a month in Mumbai trading after a media report that Tech Mahindra Ltd. may buy its information technology services unit for about $400 million.
BT Group Plc raised 13.9 billion rupees ($251 million) by selling part of its stake in Indian software developer Tech Mahindra Ltd. to institutional investors and may consider offloading more.
BT Group Plc , the U.K.’s largest fixed-line phone company, is in talks to sell part of its 30 percent stake in India’s Tech Mahindra Ltd. , three people with direct knowledge of the matter said.
BT Group Plc may wait for Tech Mahindra Ltd. to merge with Mahindra Satyam Ltd. before BT sells its stake in Tech Mahindra, the Hindu Business Line reported, citing people it didn’t identify.
Mahindra & Mahindra Ltd. , India’s largest maker of sport-utility vehicles, said it agreed to buy a 5.5 percent stake in unit Tech Mahindra Ltd. from BT Group Plc.
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