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Satyam says plans acquisitions, expansion

Satyam says plans acquisitions, expansion
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First Published: Thu, Sep 27 2007. 02 52 PM IST
Updated: Thu, Sep 27 2007. 02 52 PM IST
Reuters
Singapore: Software services firm Satyam Computer Services said on Thursday, 27 September, it was seeking acquisition of IT infrastructure management services firms to boost business with its banking and telecom clients.
Satyam, which draws most of its revenues by selling business software, consulting and process outsourcing, has seen fast growth in the infrastructure management services (IMS) segment where it helps firms with their networks and databases.
“We are already in talks with some companies for acquisition in the IMS space in Europe and the United States,” Aggarwal told Reuters in a phone interview from Brisbane, Australia where he was attending the opening of an IT solutions centre.
“We have seen strong growth in the IMS and want to strengthen our position in this segment, which would benefit our clients in banking and telecom sectors,” he said.
Singapore-based Virender Aggarwal, who heads Satyam’s business in Asia Pacific, Africa and the Middle East, said the company expects the region to contribute more than 20% of global revenues by March 2010, up from around 18%.
Aggarwal also said Satyam, plans to expand its presence in China, Malaysia and Egypt by hiring more staff to serve new customers.
He said the number of Satyam staff in China would grow to 2,500 from 500, in Malaysia to 2,000 from 500 and in Egypt to 300 from 75 by the end of 2008.
“The expansion will come as we hope to win several big deals in the region,” Aggrawal said.
Satyam, which has a market cap of $15.3 billion, competes with Tata Consultancy Services, Infosys Technologies and Wipro Ltd at home and companies like Accenture and Electronic Data Systems globally.
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First Published: Thu, Sep 27 2007. 02 52 PM IST