Like Krishnan, hundreds of Satyam employees in Pune, passing through a rough patch ever since the Satyam scandal broke in January, have reason to believe that the nightmare of three months may soon be over. Tech Mahindra’s bid is subject to certain approvals.

One employee, Chithra (name changed), said, “I was under pressure from family and friends to look for another job and I was hanging on hoping some miracle would happen... that miracle has happened.”

Anand Mahindra, chairman of Tech Mahindra, said, “The Mahindra Group is known for its good governance and the Tech Mahindra team has demonstrated its outstanding customer-centric focus. I am sure that Satyam’s customers and employees will welcome this news.”

Ganesh Natrajan, former chairman of NASSCOM and vice-chairman and managing director of Zensar Technologies, said the IT industry in particular and India in general could heave a collective sigh of relief at the end of an important chapter in the Satyam saga.

“The government, the board and NASSCOM have done excellent work, since the fraud story broke, in restoring confidence to shareholders, customers and employees. With mature handling by the new shareholders, I have no doubt that customers and employees and the entire international community will have their faith in the Indian IT sector completely restored as a result of this excellent work,” he said.

Deepak Shikarpur, chairman of the Computer Society of India, said it was good news for shareholders. He said it would mean a lot for Satyam staffers in Pune. “Tech Mahindra enjoys immense customer confidence and it has the professional leadership to handle Satyam. But like any acquisition, there will be some impact on the employees. For that we have to wait and watch,” he said.

Vineet Nayyar, vice chairman and CEO of Tech Mahindra, said, “Satyam’s and Tech Mahindra’s profiles complement each other. After the decision of the Company Law Board (its clearance is necessary), we’ll work with Satyam’s customers, partners, employees and stakeholders to restore confidence in the company and create a platform for future growth.”