PE firms eye BT’s stake in Indian outsourcer

MUMBAI, Sept 8 (Reuters) – Private equity firms including Kohlberg Kravis Roberts & Co (KKR) are eyeing BT Group’s the Economic Times said, citing unidentified sources. BT has put a price tag of more than $800 million on its stake valuing Tech Mahindra, 44.25 percent owned by India’s top utility vehicle maker Mahindra & Mahindra at nearly $3 billion, the newspaper said on Monday. Tech Mahindra’s current market value is $2.1 billion. KKR is preparing a potential bid while UK-based Apax Partners, America’s Texas Pacific Group and Carlyle and Singapore’s Temasek have also evinced interest, the paper said. Tech Mahindra officials could not be immediately reached for comment.

Source CNBC

Tech Mahindra announces Strategic Partnership with Servista

MUMBAI, India, Aug 28, 2008 (BUSINESS WIRE) — Tech Mahindra (TechM), the largest independent India-based IT services provider in the telecom space today announced that it has signed an agreement to acquire a minority equity stake in Servista, a leading European Systems Integrator. As a part of the agreement, Tech Mahindra will be Servista’s exclusive delivery arm for three years and will also assist Servista in securing more large scale European IT Offshoring business. As part of this strategic partnership, TechM will have the right to nominate a member onto Servista’s board of directors. This deal will drive Tech Mahindra’s expansion into the European market place and will significantly enhance TechM’s business development capability.

BT mulls sale of India’s Tech Mahindra stake

HONG KONG, Aug 27 (Reuters) – BT Group is considering the sale of its 31 percent stake in India software services company Tech Mahindra, the Financial Times reported on Wednesday, after the UK telecoms company decided the holding does not fit its long-term strategy. Citing people with knowledge of the matter, the paper said the UK-based telecoms group may sell all or a large part of its stake in the joint venture, which has a market capitalisation of about $2.2 billion.

Source CNBC

India’s Tech Mahindra Q1 net up 52 pct; wins $700 mln contract from BT Group

MUMBAI (Thomson Financial) – Indian software company Tech Mahindra Ltd. posted a 52 percent rise in first-quarter net profit, mainly benefiting from higher revenues from the United States, and said it has won a five-year $700 million systems transformation contract from BT Group.

For the quarter to June 30, 2008, the Mahindra & Mahindra Group company’s net profit rose to 2.58 billion rupees from 1.70 billion a year earlier, and total revenues grew 27 percent to 11.16 billion rupees.

Tech Mahindra Enters Into Strategic Internet Protocol TV (IPTV) Global Alliance deployments

MUMBAI, India, Jun 17, 2008 — Tech Mahindra, India’s sixth largest software exporter and largest solution provider focused on global telecom industry, has entered into a strategic global alliance with Microsoft
Corp. to address its System Integration requirements for deployments of the award-winning Microsoft Mediaroom Internet Protocol Television and multimedia software platform.

India’s Tech Mahindra wins $700 mln IT infrastructure contract from BT

MUMBAI (Thomson Financial) – Indian information technology company, Tech Mahindra Ltd., has won a contract worth $700 million from BT Group to transform and improve BT’s information technology infrastructure, the Economic Times reported quoting unnamed sources.

CP Gurnani, Tech Mahindra’s president for international operations said in the report, the news is “speculative”. “At any