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Tech Mahindra Ltd. Company History and Annual Growth Details

YEAR EVENTS
2000
- Mahindra-British Telecom, a 60:40 joint venture between the
Mahindra group and British Telecom, shareholders approved a
proposal to raise funds through an initial public offer and an
employee stock option plan.

-The Company proposes to raise funds through an initial public offer.

- The Company and Silicon Automation Systems Ltd (SASL) has forged
a strategic alliance to develop solutions and product markets using
the wireless application protocol (WAP).

- The Company's IPO is proposed to be of 53,18,633 No. of equity shares
with a face value of Rs 2 each, at a price to be determined in accordance
with SEBI guidelines for the fully book-built route.

2001

- Mahindra-British Telecom and the US-based Rockwell Electronic Commerce
have entered into a 5-year strategic alliance and set-up a offshore software development
centre in the city involving total capital cost of $4.5 million.

- Software firm Mahindra-British Telecom plans to lay off 300 employees, or about a tenth of its workforce, a company spokesman told Reuters on September 25.


2004

-Gets Intellectual Property Rights (IPR) for the optical planning and design solution that formed part of Marconi's Netscient Software product suite - a trademark brand acquired by Marconi in 2001

-Mahindra British Telecom (MBT), the telecom software joint venture between the Mahindra Group and British Telecommunications Plc (BT) has announced the appointment of Premchand as chairman of TeleManagement Forum's New Generation Operations Systems and Software (NGOSS) Security Team.

-Mahindra British Telecom (MBT) has signed a solutions partner agreement with UK-based Cramer, a major player in inventory-powered back office automation for telecom service providers

-MBT has joined three International Systems Security Engineering Association (ISSEA) as its corporate member

-Mahindra British Telecom (MBT), the IT services provider to the telecom industry, has signed a global partnership agreement with Netegrity , provider of identity and access management solutions

2005

-MBT launches new software for language conversion

-Cyclone Commerce join hands with MBT

-MBT acquires Axes Tech for $54 mn

-MBT, MICO may sign MoU with Mahindra British

2006

-Tech Mahindra's IPO shares will be priced between Rs 315 and Rs 365 a share. The offer will open on August 1 and close on August 4. The company plans to raise up to Rs 465 crore through the issue, which offers 12.75 crore shares for sale. The company had reached critical mass and it had decided that the time was right for the offer.

-The initial public offering (IPO) of Tech Mahindra, a joint venture between Mahindra and Mahindra Ltd and British Telecommunications PLC, was subscribed 1.26 times on the first day of the issue.

-Motorola joins hand with Tech Mahindra to form CanvasM

2007

- Tech Mahindra Ltd has announced their participation in Microsoft's Connected Services Sandbox, a new program that brings together systems integrators (SIs), independent software vendors (ISVs), developers, network equipment providers, and telecommunications service providers in a collaborative environment to develop and test new communications services.

- Tech Mahindra Ltd has won a prestigious award for its outstanding contribution, achievements in the telecoms industry and for continued support to the OSS / BSS community. The award was announced by Tolestrategies on April 25, 2007 on as a part of the Billing & OSS World 2007 conference in Chicago.

-Tech Mahindra has signed an agreement for acquiring upto 100% equity in iPolicy Networks, India, a wholly owned subsidiary of US based iPolicy.

2008

-Tech Mahindra Ltd has appointed Mr. M Damodaran as an additional Director of the Company in the category of Non Executive Independent Director by Board of Directors of the Company at their meeting held on July 22, 2008.

-Tech Mahindra signs five year application support deal with BT Group

-Tech Mahindra joins hand with Microsoft

-Tech Mahindra wins $700m deal from BT

2009

- Tech Mahindra Ltd has appointed Mr. Ravindra Kulkarni and Mr. B H Wani as Additional Directors of the Company in the category of 'Non Executive Independent Director' by the Board of Directors of the Company on March 30, 2009.

- Tech Mahindra has won the bid for Satyam Computer after bidding at Rs 58 per share. Tech Mahindra would pay Rs1,757 crore for a 31 per cent stake in Satyam. Tech Mahindra has secured complete funding to acquire a 51 per cent stake in Satyam.

- Etisalat DB, formerly known as Swan Telecom, has decided to outsource implementation of its software applications as well as IT infrastructure to Tech Mahindra as part of a $400-million deal, which is spread over the next 10 years. This is the largest IT services deal that the telecom software vendor has bagged in the domestic market.
 
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