Tech Mahindra (TECHM), which earlier this year went IPO has bagged the largest outsourcing deal by an Indian IT company. It bagged a $1 billion outsourcing deal from British Telecom. The deal is spread over five years and is reportedly for strategic outsourcing. Tech Mahindra’s biggest client is BT.
There are reports that Tech Mahindra will be expanding its operations and might be in a M&A (merger and acquisition) mode. According to DNA Tech Mahindra might bid for Tiscali’s UK operations. Tiscali is an Italian Internet company that looking to shed its UK operation.
Tech Mahindra has some pretty aggressive growth plans in the telecom sector. Earlier this year it announced that It is partnering with Motorola to set up a mobile application company called CanvasM in Noida. Tech Mahindra has invested $10 million in this venture.
Tech Mahindra is headquartered in Pune and was founded in 1986.