According to a latest update, Mahindra Group (Mahindra Satyam-Tech Mahindra combine) is planning to merge its IT business with Tech Mahindra. This will allow the smaller entities to explore strategic options including sales or mergers with any outside entity.
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According to Anand Mahindra, Chairman and Managing Director of Mahindra Group, with their latest move, Mahindra Group’s Bristlecone and Mahindra Engineering Services will come under Tech Mahindra.
As a matter of concern, it is found; Bristlecone is a US-based $60-million enterprise resource planning (ERP) company which Mahindra group had acquired via an acquisition in 2004 and was later merged with Mahindra Consulting Services while retaining the same name. Bristlecone has two business lines, one is the enterprise implementation business in India and the other one is, a very high-end, niche supply chain management business abroad.
Analysts believe, the latest merger will form India's fifth largest IT services company with revenues topping $2.4 billion.
However, nothing has been formalized as yet and no decision has been taken on whether Mahindra Group’s IT business will be divested or merged in-house.
So, stay tuned to get more information on this.
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