The much anticipated Tech Mahindra and Mahindra Satyam merger will take at least a year once the process begins, said Sonjoy Anand, chief financial officer (CFO), Tech Mahindra.
The two companies have already started working together and are approaching clients with offers combining the capabilities of both the companies. “We are working together and have won some business together already,” Anand said.
“The strategic rationale for the acquisition was very compelling. If you look at the two companies, the overlap was minimal. Tech Mahindra focuses on the telecom sector while Mahindra Satyam is strong in manufacturing, retail, healthcare, media and entertainment. Capability-wise, Tech Mahindra’s strength is mobility while Satyam is very strong on the enterprise side,” said Anand.
Tech Mahindra holds 43% in Mahindra Satyam and reported profits from the company in its second quarter result announced last month. Anand also dispelled any fears of rationalising of staff once the merger process is completed because there is minimal overlap between the two companies.