TechM top telecom software service provider: survey

The country's fifth-largest software exporter Tech Mahindra has been ranked India's top telecom software service provider by Voice & Data, a trade magazine.

Tech Mahindra said in a statement that according to the 14th V&D 100 Annual Survey, it has been named the number one telecom software provider.

The IT firm has led the Rs 25,152-crore Indian telecom software service market in 2008-09, with 17.7 per cent market share, it added.

L Ravichandran, chief operating officer, Tech Mahindra, said: "Indian businesses have been facing the impact of the global economic meltdown and mounting currency pressures across industries almost over the last one year. This recognition reinforces our leadership position in telecom outsourcing in the Indian IT space."

Tech Mahindra, previously ranked sixth largest software exporter by IT industry body Nasscom, has moved up one place because of Satyam's exit following the multi-billion dollar fraud at the IT firm early this year.

Tech Mahindra had acquired 31 per cent stake in Satyam Computer Services (now Mahindra Satyam), through a preferential allotment in April 2009. Tech Mahindra now holds 42.70 per cent  shares in Mahindra Satyam through its subsidiary Venturbay Consultants Private.