Tech Mahindra Ltd - (TECHM)

Tech Mahindra is a global systems integrator, business transformation and consulting firm focused on the communications industry. Started its life in the year of 1986 as Mahindra-British Telecom Limited, for over two decades, Tech Mahindra has been the chosen transformation partner for wireline, wireless and broadband operators in Europe, Asia-Pacific and North America. Majority owned by Mahindra & Mahindra in partnership with British Telecommunications plc (BT). As a leading provider of IT Solutions to the Telecom industry, the company committed to quality, Tech Mahindra adds value to client businesses through well-established methodologies, tools and techniques backed by its stringent quality processes. It is ISO 9001:2000 certified and is assessed at SEI-CMMI Level 5. Also awarded the ISO 20000-1 (IT Service Management standard) and ISO 27001 (Security Management standard) certification for its development centers across India and UK. Tech Mahindra is certified at PCMM Level 5 for its people-care practices and is the third company in the world to have been appraised for SSE-CMM Level 3. The Companys global footprint spans 24 locations in 14 countries including 11 state-of-the-art development centres and 13 sales offices in Americas, Europe, Middle East, Africa and Asia-Pacific. Commenced its business during the year 1987 and incorporated MBT International Inc in 19923, the first overseas subsidiary of the company. As for quality, the company awarded the ISO 9001 certification by BVQI in the year of 1994. After a year, in 1995, Tech Mahindra established one branch office in UK, following this, the company incorporated MBT GmbH, Germany during the year 2001. In 2002, the company assessed at Level 5 of SEI CMM by KPMG and in the same year Tech Mahindra incorporated MBT Software Technologies Pte Limited, Singapore. Re-certification was happened in the year 2003 to ISO 9001:2000 by RWTUV. Due to market changes, the company combines leading offerings in Application Off-shoring (AoS) with scarce skills and COTS integration capabilities in the year 2003. To meet the off-shoring challenge the Company has developed a transition process framework (mASTER) during the year 2004 for effective service delivery to customers. Moreover, the Company has developed a revolutionary diagnostic tool - ShoreCan - to evaluate the off-shoring potential of a project or group of projects in any phase of development. During the year 2005, the company was certified as BS 7799-2:2002 (Information Security Management Framework) by RWTUV now known as TUV Nord, in the same period Tech Mahindra acquired Axes Technologies (India) Private Limited, including its US and Singapore subsidiaries and the company assessed at Level 5 of SEI CMMI by KPMG. Name of the company was changed from Mahindra-British Telecom Limited to the present name Tech Mahindra Limited in 3rd February of the year 2006. In the same year 2006, the company assessed at Level 5 of SEI People-CMM (P-CMM) by QAI India, in August of the year Tech Mahindra raised Rs4.65 billion ($100 million) from a hugely successful Initial Public Offering (IPO) to build a new facility in Pune, to house about 9,000 staff and formed a JV with Motorola Inc under the name CanvasM to develop a focused entity that would leverage Tech Mahindras solution integration expertise and Motorolas R&D capabilities. The Company noted as Leaders in the Telecom Vertical in India (Frost & Sullivan 2006) and received Deloitte Tech Fast 50 2007 Award, Award for Outstanding Achievement in the industry (Billing & OSS World 2007). The Company acquired iPolicy Networks Private Limited during the year 2007 to enhance its offerings in the security solutions and services domain, that develops next-generation, carrier-grade integrated network security solutions for enterprise and service providers and in the identical year 2007, the company launched the Tech Mahindra Foundation to address the needs of the underprivileged in our society, especially children. A strategic alliance was made between the company with Sun Microsystems in May 2007 to enable the rollout of cost-effective and efficient IPTV services to the Indian and Asia Pacific markets. As part of this alliance, Sun and Tech Mahindra along with AMD plans to jointly set up a next generation IPTV lab at the Tech Mahindra facility in Pune. Tech Mahindra has expanded its relationship with Oracle in March 2008 to deliver a comprehensive software suite for the global communications industry. The Company entered into a strategic partnership with Veracode during April 2008, its a very strategic, giving the company access to a unique, on demand application security technology, which allows the company to further strengthen our application security capability as they expand into new markets. Tech Mahindra has won the prestigious Billing & OSS World 2008 Excellence Awards in the Best Billing Solution category for its LHS BSCS iX Release 1 Integrated with Ericsson Charging System project. As on June 2008, the company has entered into a strategic global alliance with Microsoft Corporation to address its System Integration (SI) requirements for deployments of the award-winning Microsoft Mediaroom Internet Protocol Television (IPTV) and multimedia software platform. The Company bags $7.6 million deal from Telecom Fiji in June 2008, as the first Indian IT Company to received this transformational deal, Tech Mahindra provide local and international (trunk) telephony services in Fiji. Tech Mahindra has signed a deal with Telecom New Zealand in June of the year 2008 to provide solutions to the companys retail business and the products it offers. The deal is worth between $20 million and $30 million The countrys sixth largest software exporter and second largest solution provider to the global telecom industry is known to as Tech Mahindra Limited, is focused on creating sustainable value growth through innovative solutions and unique partnerships. It wants to be the leading global software solutions provider to the Telecom industry.