Information Madness

Finally, Tech Mahindra, a joint venture between India's Mahindra Group and U.K.'s BT Group, is the new owner of scandal-tainted tech firm Satyam Computer Services. Tech Mahindra won the bid to Satyam Computer Services. Tech Mahindra will pay 58 rupees ($1.16) a share for a 31 percent stake in Satyam and acquire a further 20 percent from investors at the same price

Tech Mahindra offered $579 million for the bid which beat bids from Wilbur Ross and Larsen & Toubro Ltd. Tech Mahindra will get control of about 50,000 employees servicing customers including Cisco Systems Inc. and Nestle SA.

Tech Mahindra will pay $352 million for a preferential allotment of 302.8 million shares amounting to 31% of Satyam's equity, valuing the firm at $1.1 billion. This will be followed by an open offer to acquire an additional 20% within 55 days. All told, the acquisition is expected to cost the company $580 million. Tech Mahindra's shares rose 12% Monday on the Bombay Stock Exchange.

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