Hyderabad, India, 4 May, 2010 – Tech Mahindra, the brand identity of Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider announced today the signing of an off-shoring deal with BASF IT Services. BASF IT Services, a BASF Group company and 100 percent subsidiary of the world’s leading chemical company BASF, is among the leading IT service providers for the process industry in Europe. The contract, awarded following a competitive bidding process, is to enhance BASF’s capacity to provide managed services for the company’s extensive installed base of SAP, messaging and groupware as well as user administration.
BASF IT Services conducted an extensive RFP process and selected Tech Mahindra against strict evaluation criteria and following exhaustive due diligence. The contract, based on a 100% outcome oriented model, is for three year period with a two times one year extension option.
About Tech Mahindra
Tech Mahindra (NYSE: SAY) is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance.
The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Tech Mahindra is part of the $6.3 billion Mahindra Group, a global industrial federation of companies and one of the top 10 industrial firms based in India. The Group’s interests span financial services, automotive products, trade, retail and logistics, information technology and infrastructure development.
Tech Mahindra’s development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Tech Mahindra undertakes no duty to update any forward-looking statements.