Tech Mahindra News
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IGate Corp. terminated the contract of Chief Executive Officer Phaneesh Murthy after the software company said he didn’t report a relationship with an employee.
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Satyam Computer Services Ltd., the subject of India’s biggest corporate fraud, is luring investors including Nordea Bank AB and BNP Paribas SA with the highest return on equity among Asia’s 20 largest software developers.
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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.
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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.
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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.
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BT Group Plc, Britain’s biggest fixed-line phone company, is exiting Tech Mahindra Ltd. through a sale of shares to institutional investors to raise at least 9.9 billion rupees ($183 million), according to a term sheet obtained by Bloomberg News.
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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.
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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.
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Satyam Computer Services Ltd., which is being bought out by Tech Mahindra Ltd., is in talks to acquire a company in Europe to strengthen the services it provides the aerospace industry.
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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.
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