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Satyam bidder may gain $1 Billion in annualized revenues
By siliconindia
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Tuesday, 14 April 2009, 21:33 IST
Hyderabad: Being successful bidder for a majority stake in Satyam Computer Services, Tech Mahindra is set to gain around $800 million-$1 billion in annualized revenues from the acquisition, though some customers mull shifting their projects to larger Indian vendors including TCS and Infosys, reported The Economic Times.
"We estimate that over $300 million could be lost because of customer attrition over next six months," said Sudin Apte, senior analyst, Forrester Research. He added that Tech Mahindra will have to face the challenges of integrating teams from different service lines apart from convincing clients about business continuity.
Tech Mahindra is learned to have offered Rs 58 per share for the Satyam bid, while engineering firm L&T made an offer of around Rs 49 for each Satyam share. The Satyam acquisition will help Tech Mahindra diversify its software services business, and compete aggressively with bigger rivals such as TCS, IBM, Infosys and Wipro.
Amidst the attrition of its clients, leading companies such as GE, Nestle, Dupont, Nissan and National Bank of Australia continue to work with Satyam, which has won around $30 million worth of contract from customers in Australia and Europe over past few days, a source said, declining to be identified.
