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

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?