Mahindra Satyam

This article is about Mahindra Satyam prior to its 2013 merger into Tech Mahindra. For the resulting company, see Tech Mahindra.

Mahindra Satyam
Company typePublic company
IndustryIT services, IT consulting
Founded1987
Defunct2013
FateMerged into Tech Mahindra
SuccessorTech Mahindra
HeadquartersHyderabad, India
ServicesIT, business consulting and outsourcing services

Mahindra Satyam (formerly Satyam Computer Services Limited) was an Indian information technology (IT) services company based in Hyderabad, India, offering software development, system maintenance, packaged software integration and engineering design services. Satyam Computer Services was listed on the Pink Sheets, the National Stock Exchange and Bombay Stock Exchange and provided services to a wide range of customers including 185 Fortune 500 companies.[1]

In January 2009, the company's founder and chairman Ramalinga Raju admitted to inflating the company's assets by $1 billion, leading to criminal charges and a collapse of the company's stock price.[2][3] This was known as Satyam Scandal. Mahindra Group's IT arm, Tech Mahindra, purchased a major stake in the company and in June 2009 the company renamed itself Mahindra Satyam.[4] Mahindra Satyam merged with Tech Mahindra on 24 June 2013.[5]

  1. ^ Howlett, Dennis (15 January 2009). "Satyam scandal – the fallout". The Guardian. ISSN 0261-3077. Retrieved 22 September 2019.
  2. ^ Cite error: The named reference :2 was invoked but never defined (see the help page).
  3. ^ Scott, Mark (21 March 2012). "Tech Mahindra to Merge With Satyam". The New York Times. Retrieved 22 September 2019.
  4. ^ "Satyam Computers is now Mahindra Satyam". Hindustan Times. 21 June 2009. Retrieved 22 September 2019.
  5. ^ Alvares, Clifford (15 October 2013). "Tech Mahindra goes for growth by acquisition". Business Standard. Retrieved 22 September 2019.