Satyam uses Mahindra Satyam brand to reflect new owners

The scandal-ridden company is trying to put the past behind it

Embattled Indian outsourcer Satyam Computer Services plans to use a new brand, Mahindra Satyam, to reflect its new ownership.

Mahindra Satyam will be only a go-to-market brand, while the company's name stays the same, a Satyam spokesman said on Sunday.

Tech Mahindra, an outsourcing company of India's Mahindra Group, has acquired a 31 per cent stake in Satyam. Tech Mahindra made the acquisition through a wholly owned subsidiary called Venturbay Consultants.

Tech Mahindra and Venturbay also made an open offer earlier this month to buy 20 per cent more of the equity in Satyam from existing shareholders.

Satyam was plunged into a crisis in January after the company's founder, B. Ramalinga Raju, stated that the company had inflated profits for several years.

A new board, appointed by the government in January, decided to auction off a majority share in the company to a strategic investor, and selected Tech Mahindra as the highest bidder.

The new brand reflects that Satyam is now part of the Mahindra Group, said the company spokesman.

It may also be an attempt to distance the company from the financial scandal, according to analysts.

"This rebranding exercise symbolizes an amalgamation of the Mahindra Group's values with Satyam's fabled expertise, even as it retains that part of Satyam's identity which signifies commitment, purpose and proficiency of the organization and its people," said Anand Mahindra, vice chairman and managing director of Mahindra Group, in a statement on Sunday.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Satyam

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

John Ribeiro

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?