The Satyam buyout gives the tech firm a chance to diversify away from telecom, something it badly needed to do. It shouldn't be too difficult for Satyam to be able to turn in an operating profit of close to Rs 1,000 crore in 2009-10, so that would translate into an EV/ebitda of 8.4 times for the company.
TM has an agreement with the Union of European Football Associations, while Satyam has signed up with Fifa. A Satyam spokesperson said: "Tech Mahindra has been providing mobile streaming services to Uefa, besides other telecom services. The company will support us by offering its technology expertise in football. We will go together for the two World Cups." TM and Satyam's alliance on sports may not end with the World Cup and may expand to other disciplines as well.
The merger process started four years ago, with the acquisition of Satyam in April 2009.
For the first time in almost six months after it was acquired by Tech Mahindra, Satyam Computer Services (now rebranded as Mahindra Satyam) will hire 130 people from outside the company.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
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