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iGate rejoins the race for Satyam

Written by: Staff

Mumbai, Mar 13: IT outsourcing services provider iGate Corporation that had earlier shown interest in acquiring fraud-hit Satyam Computers later came out of the race. The Company is said to have again shown interest and has filed a formal expression of interest (EoI) in Satyam based on the process specified by the Satyam Board.

Other competitors to acquire Satyam include L&T, Tech Mahindra and Spice group, who have already filed the EoI to acquire Satyam.

"iGate is now expecting to receive from Satyam the latest financial statements, including those for the quarter ended Dec 2008 and the months of January and Feb 2009, and updated position on liabilities and potential liabilities of the company," Nasdaq-listed iGate said in a statement.

The company said that in the event of the company not receiving this information immediately, it would withdraw the expression of interest.

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