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You could sense the frustration of the European management team at sibling Indian offshore services firms Mahindra Satyam and Tech Mahindra at their inaugural joint analyst briefing this week as they tried to present the companies as an integrated business but with two distinct brands.
You can probably blame the bureaucracy-rich Indian courts, and a ‘never say die’ defence by disgraced ex-Satyam CEO, B. Ramalinga Raju, for dragging out the consummation of the ‘marriage’. Indeed it was almost two years to the date that (new) management re-launched the now Mahindra Satyam business along with its ambitious target to become a $5b company (with Tech Mahindra) within 3 years (see here). Well, that target has been reset to 2015 – and it’s still ambitious.
Though there are many more significant challenges that the companies face to make even that postponed target, the lack of a unified brand isn’t helping. At the briefing there was the odd (and perhaps ‘accidental’) reference by management to ‘Mahindra IT’, which seems a good working title to me. But until the legal eagles have finished picking over the bones of the Satyam saga, management remain tongue-tied!
