Official – Tech Mahindra wins bid for BPO Pioneer Satyam

It was announced mid-day Monday in Mumbai – Tech Mahindra has officially won the bid for the Indian IT giant Satyam.  Satyam founder Ramalinga Raju remains in jail with a number of other company financial officers and accountants. The trial is set to begin later this year. Raju’s public confession of misstating accounts to the tune of over $1 Billion USD, serially, for years has reduced the company dramatically in global stature, so this event is seen as the first step in closing the last chapter and starting a new one for Satyam. It is a huge move for Tech Mahindra.

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