· Company reiterates commitment to over 200 customers in the region
· UAE accounts for 38 per cent of Satyam’s Middle East revenues
Mr. Atul Kunwar, Head of Business Development and Operations for the Regional Business Groups (Europe, Australasia, Middle-East, Africa and India) for ‘Mahindra Satyam’
Satyam Computer Services Limited (NYSE: SAY), a global consulting and information technology services provider, unveiled yesterday (July 06, 2009) its new brand identity - ‘Mahindra Satyam’ - at a summit at the Palace Hotel, Dubai. The new robust brand is set to merge the core values of the Mahindra Group and the inherent strength of the Satyam brand, in line with its commitment to maintain business continuity for its 200 existing Middle East customers. Company officials also enumerated its top priorities, which include retaining current customers and winning back business lost as a result of the crisis; retaining key associates; acquiring new business; and exploring the best ways to realise operational and structural synergies between the two companies. Furthermore, the company reiterated its commitment to the UAE market, which accounted for 38 per cent of Satyam’s Middle East revenues.
The new brand identity emerged following a landmark investment by Tech Mahindra Limited, a global systems integrator and business transformation consulting firm focused on the communications industry, towards acquiring 31 per cent of the share capital of Satyam. The investment was carried through Venturbay Consultants Private Limited, a subsidiary of Tech Mahindra, which further announced plans to invest in 20 per cent share addition through an open offer. Coinciding with the launch was the announcement of top level appointments, including CP Gurnani as CEO and Atul Kunwar as Head of Business Development and Operations for the Regional Business Groups (Europe, Australasia, Middle-East, Africa and India); for ‘Mahindra Satyam’.
The new officials have committed to making good corporate citizenship the founding block of ‘Mahindra Satyam’ that will guide them in seeking long-term success. The new management team will also focus on regaining the confidence of customers in the Middle East, strengthening operations and boosting the opportunities from regional clients, while maximising resources. Tech Mahindra has given the organisation a fresh drive to adopt and inculcate the values that will broaden its growth potential, including professionalism, a ‘customer first’ approach, focus on quality, and value to individual dignity.
With the Middle East continuing to be a key component of Satyam’s growth, the company is focusing much of its efforts and resources within the region and its regional clients. Satyam has been in the Middle Eastern Region for close to a decade now, with 8 offices across UAE, Kuwait, Qatar, Oman, Bahrain, Saudi Arabia, Yemen, Jordan and Egypt. It serves close to 200 customers across the region with over 160 full lifecycle implementations and a team of over 750 associates. In the last two months, Satyam has seen extensive developments, with customer confidence steadily building up and committed employees ready to take on new challenges. Reports also indicate the acquisition of new business from existing and new customers, even while customer retention and risk mitigation plans are seamlessly being put into action.
Majorly owned by Mahindra & Mahindra Limited, in partnership with British Telecommunications Plc. and with total revenues of Rs 4464.7 crores as of March 31, 2009, Tech Mahindra serves telecom service providers, equipment manufacturers, software vendors and systems integrators. Ranked among India’s Top 6 software and service exporters, the company’s investment in Satyam marks an expansion of its interests in other vertical markets, including financial services, manufacturing and healthcare, among others. The re-branding exercise symbolizes a union of the Mahindra Group’s values with Satyam’s renowned expertise.
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About Tech Mahindra
Tech Mahindra is a leading provider of solutions and services to the telecommunications industry, majority stake owned by Mahindra & Mahindra Limited, in partnership with British Telecommunications plc. With total revenues of Rs 4464.7 crores in the year ended March 31, 2009, Tech Mahindra serves telecom service providers, equipment manufacturers, software vendors and systems integrators. Tech Mahindra solutions enable clients to maximize returns on IT investment by achieving fast time to market, reduced total cost of ownership and high customer satisfaction. Tech Mahindra achieves this through its domain and process expertise, distinctive IT skills, research and development, proven innovative delivery models and approach to off shoring.
Assessed at SEI-CMMi Level 5 and PCMM Level 5, Tech Mahindra’s track record for value-delivery is supported by 25,000 professionals who provide a unique blend of culture, domain expertise and in-depth technology skill-sets. Its development centres are ISO 9001:2000 & BS7799 certified. Tech Mahindra has principal offices in the UK, United States, Germany, UAE, Egypt, Singapore, India, Thailand, Taiwan, Malaysia, Philippines, Canada & Australia.
About Mahindra Satyam
Mahindra Satyam (the new brand identity of Satyam Computer Services Ltd. - NYSE: SAY), a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in numerous industries across the globe. Mahindra Satyam leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company’s professionals excel in engineering and product development, supply chain management, client relationship management, business process quality, business intelligence, enterprise integration, and infrastructure management, among other key capabilities.
Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
Safe Harbor
Statements contained in this press release regarding future events or actions and all other statements in this release other than recitation of historical facts are forward-looking statements. Words such as “expect”, “intend”, “may”, “will”, and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements of events or actions to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the competitive environment in the information technology services industry and competitive responses to the proposed acquisition; and whether the companies can successfully provide services/products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. This document does not constitute an offer to purchase or to sell securities in any jurisdiction.
Additional Information
In connection with the Offer for certain equity shares of Satyam Computer Services, Ltd., Venturbay Consultants Private Limited, and Tech Mahindra Limited have filed tender offer documentation with regulatory authorities including the Securities and Exchange Board of India and the United States Securities and Exchange Commission (SEC). The Offer is subject to various terms and conditions included in these materials. Investors and Satyam shareholders are strongly encouraged to read these materials including, for investors in Satyam’s American Depositary Shares, the tender offer statement and related documents filed with the SEC, because they will contain important information. Documents filed with the SEC are available for no charge on the SEC’s website at www.sec.gov
For further information, contact:
Reema Kundnani
Head – Marketing for APAC, Middle East and Africa
Mahindra Satyam
Tel: +91-9967556572
Email: reema_kundnani@satyam.com
Website: www.mahindrasatyam.net
CommuniGate Middle East
P.O. Box 66861, Dubai, U.A.E
Tel: +971 4 3988134
Fax: +971 4 3988137
Email: info@communigateme.com
Website: www.communigateme.com
