Satyam renamed Mahindra Satyam

Hyderabad, June 21(ANI): Satyam Computer Services has been renamed as Mahindra Satyam, while the logo will be adopted from the Mahindra Group.

Tech Mahindra had bought it in April,

The decision was taken at a closed-door meeting attended by top executives of Tech Mahindra in Hyderabad.

"Customer centricity, high standards of corporate governance, unimpeachable ethics form the cornerstones of the Mahindra Group. 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.

Senior officials at Satyam, Tech Mahindra and Mahindra and Mahindra had been working on the re-branding exercise with certain external advisors ever since Tech Mahindra acquired the company.

"This is a significant milestone towards the recovery of the company. We are optimistic that this new brand will re-energize the organization and will be well received by all our stakeholders," said Vineet Nayyar, Executive Vice Chairman of Satyam Board.

"With this initiative, we will witness steps by the Management to adopt and inculcate the values of performance and customer first, good corporate governance and citizenship, which are drawn from the Mahindra Group," Vineer Nayyar added. (ANI)