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!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

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

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

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.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?