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Tech Mahindra wins bid for Satyam

Tech Mahindra has won the bid for Satyam Computer Services.

Reports say that the tech firm will pay Rs 1,757 crore to buy out 31 per cent Satyam stake.

Details awaited.

The majority stake sale process in Satyam Computer Services opened on Monday, and software firm Tech Mahindra submitted its bid. Engineering major L&T had also put in its bid to acquire control of the Hyderabad-based company.

“We have submitted the bid for Satyam Computer,” Tech Mahindra’s vice chairman, managing director and CEO Vineet Nayar told PTI.