iGate ready to acquire Satyam's business: Phaneesh Murthy

Posted By: Staff
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Bangalore, Jan 23: iGate one of India's leading software company said on Friday, Jan 23 that it is interested in acquiring stake in the scam hit Satyam Computers. Phaneesh Murthy, iGate CEO said, "We are interested in a dialogue with Satyam and currently are quiet keen and comfortable to acquire selective portions of the business."

Tarun Das, one of the newly appointed Board directors earlier told to media that Satyam had been approached by many Indian and international IT companies for a possible merger or sale and that the board would decide on it. "We have to wait for the new board at Satyam to evaluate all strategic options and based on that evaluation, set the direction for the company, before we comment what our strategic plan is," Murthy said.

Sources suggest that Larsen and Turbro (L&T) has also expressed interest in acquiring Satyam. Tech Mahindra has expressed interest in taking telecom business of the Satyam group.

Satyam Computer Services landed in trouble after the former CEO Ramalinga Raju revealed of 7,000 crore fraud. Raju is currently in judicial custody. Court on Friday, Jan 23 extended his judicial custody till Jan 31.

OneIndia News (With inputs from Agencies)

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