Satyam to acquire Motorola’s Malaysia software unit

Satyam to acquire Motorola’s Malaysia software unit
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First Published: Mon, Nov 10 2008. 01 59 PM IST
Updated: Mon, Nov 10 2008. 01 59 PM IST
Reuters
Bangalore: Satyam Computer Services Ltd said it will acquire Motorola’s software development unit in Malaysia, in a deal which should be completed by the end of 2008, subject to regulatory approvals.
New York-listed Satyam, India’s No. 4 software services exporter, will take on 128 Motorola employees as part of the deal, it said a statement to the stock exchanges on Monday.
Financial details of the deal were not disclosed.
Last month, Motorola outlined a plan to save $800 million in costs in 2009, by cutting 3,000 jobs, or 4.5% of the company’s workforce, and narrowing its focus to its strongest regions such as North America.
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First Published: Mon, Nov 10 2008. 01 59 PM IST