Tech Mahindra, the IT arm of auto major Mahindra and Mahindra, on Monday won the bid for India's fourth largest software exporter Satyam Computer.

Satyam's new board of directors, which met to select the highest bidder, chose Tech Mahindra following its bid of Rs 1,757 crore ($351.4 million) for 31 per cent stake in the scam-tainted IT giant.