Mahindra Satyam.

Type
Founded
Headquarters

Public (BSE: 500376, NYSE: SAY

(ADR))
1987
Hyderabad, India
Vineet Nayyar, Vice Chairman, Mahindra

Key people

Satyam Board
C.P. Gurnani, CEO, Mahindra Satyam

Industry

Information Technology

Website

www.Mahindrasatyam.net

Mahindra Satyam (formerly known as Satyam Computer Services Ltd) was founded in
1987 by B Ramalinga Raju. The company offers consulting and information technology
(IT) services spanning various sectors, and is listed on the New York Stock Exchange,
the National Stock Exchange (India) and Bombay Stock Exchange (India). In June 2009,
the company unveiled its new brand identity Mahindra Satyam subsequent to its
takeover by the Mahindra Groups IT arm, Tech Mahindra

Mahindra Satyam campus, Hyderabad

Overview

Satyam Computer Services Ltd was founded in 1987 by

B.Ramalinga Raju. The company offers consulting and
information technology (IT) services spanning various
sectors,
including
engineering
and
product
development, supply chain management, client
relationship
management,
business
process
management and business intelligence.
The company listed on the New York Stock Exchange, National Stock Exchange (India)
and Bombay Stock Exchange (India).
In June 2009, the company unveiled its new brand identity Mahindra Satyam.
Mahindra Satyam's presence spans over 60 countries across six continents. Mahindra
Satyam development and delivery centres are located in the US, Canada, Brazil, the UK,
Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous
clients, including many Fortune 500 organizations. Apart from Hyderabad, it has
development centers in India at Bangalore, Chennai, Pune, Mumbai, Delhi, Kolkata,
Bhubaneswar, and Visakhapatnam.
Satyam plunged into a crisis in January 2009 after its founder, B Ramalinga Raju, stated
that the company's profits had been overstated. Satyam had engaged
PricewaterhouseCoopers as its auditors over past 10 years. The company's accounts are
currently being restated.

Mahindra Satyam Development Center

In March 2009 the company announced it would begin
soliciting bids from potential buyers. In April 2009,
Venturebay Consultants Private Limited, a subsidiary
controlled by Tech Mahindra emerged as the highest bidder
to acquire a controlling stake in Satyam. A US-based investment firm owned by
billionaire Wilbur Ross and an Indian construction and IT services firm, Larsen and
Toubro were the other bidders.
On June 21, 2009, Satyam unveiled its new corporate identity Mahindra Satyam. On
June 23, Vineet Nayyar was appointed as Executive Vice Chairman on Mahindra
Satyams Board of Directors, C.P. Gurnani was appointed as the Chief Executive Officer
(CEO) of Mahindra Satyam, and S Durgashankar was appointed as the Chief Financial
Officer (CFO). As part of the internal reorganization, A.S Murthy was appointed as the
Chief Technology Officer (CTO), while Hari Thalapalli was appointed as the Chief
Marketing Officer (CMO) & Chief People Officer (CPO). Rakesh Soni was appointed as
the Chief Operating Officer (COO)

Time line

1987 - Incorporated as a Private Limited Company

1988-1992 - IPO

1993-1996 - Satyam Technology Center established.

1997-2000 - Presence in 30+ Countries.

2001-2004 - Founded Satyam BPO.

2005-2008 - Acquisition of Bridge Strategy,Citisoft, Knowledge Dynamics, Nitor

Solutions, S&V Management Consultants - 30+ Global Solution centers.

2009

- 07 Jan - Erstwhile chairman declared that the companys profits had been overstated for
several years
- 13 April - Tech Mahindra acquired majority stake in Satyam
- 21 June - New brand, Mahindra Satyam launched+

Competencies
Mahindra Satyam offers the following horizontal services.

Extended Enterprise Solutions

Web Commerce Solutions
Business Intelligence Services
Quality Consulting
Strategic Outsourcing Services
Industry Native Solutions
BPO
Engineering Services

Industry Presence

Mahindra Satyam provides services in the following areas:

Aerospace and Defense

Banking, Financial Services &Insurance
Energy and Utilities
Life Sciences & Healthcare
Manufacturing, Chemicals & Automotive
Public Services & Education
Retail and Consumer Packaged
Telecom, Infrastructure, Media and Entertainment & Semiconductor

Travel and Logistics & Industrial Equipment

Controversies
World Bank
The World Bank had banned Satyam from doing business with it for 8 years due to
inappropriate payments to the World Bank's staff. The World Bank accused Satyam of
giving improper benefits to its (the Bank's) staff and of failing to maintain documentation
to support fees charged for its subcontractors. However, it clarified that Satyam was not
involved in incidences of data theft or malicious attacks that had been made on the Bank's
information systems.

Accounting scandal of 2009

In addition to other controversies involving Satyam, on January 7, 2009, Chairman Raju
resigned after publicly announcing his involvement in an accounting fraud. Ramalinga
Raju is currently in a Hyderabad prison along with his brother and former board member
Rama Raju, and the former CFO Vadlamani Srinivas.

LinkBack

Thread Tools

10-02-07,
03:31 PM
sridhar
Super
Moderator

Display Modes
#1 (permalink)

SATYAM COMPANY profile

Satyam profile

Satyam, a SEI-CMM Level 5 company, offers a range of expertise in the

areas of Information Technology Software Development Services,
Systems Integration, ERP Solutions, Product Development, Internet
access & hosting services, Electronic Commerce and Consulting.
Satyam has nearly 6,000 IT professionals, who operate out of its stateJoin Date: Feb of-the-art software development centers located in India, the USA,
Japan, Singapore and the UK. These Centers work as an extended
2006
enterprise (IT partner) for over 150 Fortune 500 and multinational
Age: 26
Posts: 4,502 clients worldwide. Satyam, a multifaceted, totally integrated IT solutions
provider is engaged in application development and maintenance,
Thanks: 25
Thanked 400 systems integration, datamarts, conversion and migration, Euro currency
Times in 234 and engineering services (CADCAMCAE).
Posts
Rep Power: 0 It specializes in customized IT solutions for industries in the areas of
Manufacturing, Financial services, Insurance, Transportation, Telecom,
Healthcare and Power. The company also offers Network and networkenabled services in India. It provides Internet access & hosting services,
Intranet, e-mail, EDI, store & forward, and online information services.
For more information visit their company website at Satyam Computer
Services Ltd.

Offline