Tech Mahindra Logs in to Satyam Computers
Finally, the search is over. Tech Mahindra takes over the beleaguered and bruised Satyam Computers, by acquiring 51% stake (31% through preferential allotment and 20 % through open market). On April 20th 2009, Mr. Anand Mahindra was in Satyam Learning World where he addressed the press and the Satyam's Leaders. And the message was clear; 'we are here to stay and we want you to stay with us (including the interim CEO, Mr. A. S. Murthy)'. He planted a beautiful sapling in the forelawns of Satyam Learning World's campus in Gachibowli, Hyderabad. The employees reactions were mixed. I had the pleasure of talking to many of the employees and majority of them were elated that it was taken over by Tech Mahindra. For all of them, it didn't matter who is going to acquire Satyam. For, seldom their opinions would have mattered. When I specifically asked about Tech Mahindra, most of them are happy that it's being taken over by a company headed by Mr. Anand Mahindra, a HBS-educated manager. He is one of the very invited guests on HBS's forum to reflect on the 100 years of Harvard MBA sharing the forum along with Jeffrey Immelt and others. He is shrewd, business-savvy, forward-looking, pragmatic and he can make the difference. After all, it's he who made the difference with his "Scorpio" that came and stung Indian SUV lovers. Hopefully, he would do the same thing at Satyam Computers too. All the Satyam loyalites are however in a quandary: Will Satyam's name be retained?
What do you think Mr. Anand Mahindra and his team must be doing in handling this phase of the transition? Would Tech Mahindra be better off with or without Satyam's tag?
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