AT&T Divests Stake in Tech Mahindra, Ltd., Will Maintain Business Relationship Tweet

AT&T* announced it has divested its holdings in Tech Mahindra Limited. Per the terms of a 2005 agreement, on March 22, 2010, AT&T exercised an option over approximately 9.9 million shares, representing 8.1 percent of Tech Mahindra shares outstanding on that date.

AT&T intends to maintain its vendor relationship with Tech Mahindra, which provides IT services to AT&T. “Our relationship with Tech Mahindra offers strategic advantages to AT&T, and we plan to continue to work with Tech Mahindra to meet AT&T’s information technology needs,” said Thaddeus Arroyo, chief information officer, AT&T.

Terms of AT&T’s contract with Tech Mahindra are not available. On April 27, 2010, AT&T recognized Tech Mahindra with a 2010 AT&T Supplier Award in recognition of Tech Mahindra’s outstanding performance and service to AT&T affiliates during the past year.

*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

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