It may be a happy union. But for some, who have been following the Satyam episode here for quite sometime, it was also a bit disappointing.
The merger of Mahindra Satyam with Tech Mahindra, for them, was like a marriage between two persons of different strata. Also, the joint entity will be headquartered in Mumbai, not in Hyderabad.
The press invite and posters in Mahindra Satyam’s office lifts also show a girl and a guy posing, with a tagline saying ‘the power of one’, hinting at the union of the two companies.
“We called it ‘a marriage made in heaven’ and as I told you, we have lived together for three years, we believe we are right for each other, and today, we have got engaged formally,” Mahindra Satyam chairman Vineet Nayyar said.
Before Satyam (now Mahindra Satyam) was hit by an accounting fraud, it was India’s fourth-largest information technology company. But even after the merger, it will not regain the position; it has to contend with the fifth position.
There was also curiosity to know the new name of the family. Will the ‘Satyam’ name be retained? According to a senior official, it may take some six months to decide on the name to suit the interests of stakeholders and customers.
However, the staff are happy, as the family has got bigger and stronger. “It is really nice to see that we have turned around in such a short time, after the TechM takeover. This shows we can turn around as the
No. 1 company with the power of one,” was the discussion on the company’s intranet.