Asia Bizz: While Indian companies Tech Mahindra and Satyam Computers Ltd are on the verge of a merger, they are reports of plans to hire up to 10,000 staff. The companies are planning to hire the staff for the combined entity in the year 2012/13 in order to meet the expected rise in demand for technology services.
Apart from hiring employees, the companies are also planning to compliment their parent company Mahindra & Mahindra group’s move to become a major defense manufacturer. Satyam was bought by Tech Mahindra in a government-backed auction in the year 2009.
The company was put to auction after the founder of Satyam admitted to one of the country’s biggest accounting frauds. After the regulatory approval, the merger would create India’s fifth largest software services exporter by revenue.
The regulatory approvals are expected later this year. Tech Mahindra CEO Vineet Nayyar , said that they are trying to secure more efficiencies internally and will see how it works out. The two companies together have about 75,000 employees and the clients of them include SAAB Group and BT Group. In the first nine months of 2011/12, Tech Mahindra hired 4,413 employees while Satyam employed 3,014 in the same period.
