Satyam Comp eyes $50mn buy in US, Europe

Satyam Comp eyes $50mn buy in US, Europe
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First Published: Thu, Mar 15 2007. 11 40 AM IST
Updated: Thu, Mar 15 2007. 11 40 AM IST
Reuters
Mumbai: India’s Satyam Computer Services Ltd is looking to acquire a telecom or technology consulting firm in the US or Europe for up to $50 million (Rs221 crore), a leading newspaper said on 15 March.
Satyam, India’s fourth-biggest software services firm is in talks with five or six companies, the newspaper said, citing chief financial officer Srinivas Vadlamani.
“We have considerably strengthened our consulting practice.In addition, we are also looking at buyouts in the enterprise business solutions space. An acquisition in the telecom space could bring domain expertise in areas such as billing,” Vadlamani said.
“We plan to go for niche small buyouts with a ‘string of pearls´acquisition strategy rather than a transformational merger and acquisition that involves large buyouts,” he said.
A senior company official had said in February that Satyam’s back-office unit is eyeing an acquisition in India or overseas.
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First Published: Thu, Mar 15 2007. 11 40 AM IST
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