Overview of IT industry:

Firms that develop software, hardware, or semiconductor equipment, as well as companies that provide
internet or related services, are all part of the information technology (IT) sector.

Software and services, technology hardware and equipment, and semiconductors and semiconductor
equipment are the three key industry areas in the IT sector. These three industry categories are further
broken down into industries and sub-industries. Companies are grouped into sub-industries that best
describe their main or most profitable operation.

The IT-ITeS (Information Technology and Information Technology Enabled Services) sector is a rapidly
evolving field that is reshaping Indian business standards. Software development, consulting, software
management, online services, and business process outsourcing are all part of this industry (BPO).

According to a Times of India storey, India's liberalization was made feasible by its IT industry. The sector
began in the 1990s with approximately $100 million in exports and around 5,000 employees. It is
currently an internationally thriving industry, with India's IT exports totaling over $70 billion and 2.8
million people employed in the sector. According to the article, the IT sector is now one of the country's
top two industries. India's IT industry is predicted to grow at a rapid pace.

Overview of Tech Mahindra:

Tech Mahindra believes that the 'Future is Now' and seeks to deliver tomorrow's experiences today. We
are part of the Mahindra Group, which was founded in 1945 and is one of the world's largest and most
admired multinational conglomerates, employing over 260,000 people in more than 100 countries. It is
the world's largest tractor company by volume and holds a dominant position in farm equipment, utility
vehicles, information technology, and financial services in India. Renewable energy, agriculture, logistics,
hotels, and real estate are all areas where it has a prominent presence. With a mission of driving good
change in the lives of communities and stakeholders to enable them to Rise, the Mahindra Group has a
clear focus on leading ESG worldwide, enabling rural prosperity and upgrading urban living.

Tech Mahindra is a multinational IT services and consulting company based in India. The company is
headquartered in Pune and is a subsidiary of the Mahindra Group. Tech Mahindra has 125,236 workers
in 90 countries and a market capitalization of $5.2 billion. In the Fortune India 500 list for 2019, the
company was placed #5 in India's IT firms and #47 overall. Tech Mahindra announced the conclusion of a
merger with Mahindra Satyam on June 25, 2013. As of April 2020, Tech Mahindra has 973 active clients.

After the Satyam controversy in 2008-09, Tech Mahindra made a proposal for Satyam Computer
Services, beating out a strong opponent Larsen & Toubro with an offer of INR 58.90 per share for a 31%
ownership in the company. [12] "its Board of Directors has selected Venturbay Consultants Private
Limited, a subsidiary controlled by Tech Mahindra Limited as the highest bidder to acquire a controlling
stake in the Company, subject to the approval of the Hon'ble Company Law Board," Satyam Computer's
government-appointed board announced on 13 April 2009 after evaluating the bids.