Any acquisition bid is not in the interest of the investor community and business, said Satyam’s chairman Ramalinga Raju, during a meeting with global analysts last week at the firm’s Hyderabad-based technology center.
Several analysts had earlier questioned Satyam if the company was open to acquisition by larger services players.
Turning the tables somewhat, Raju said the company was committed to grow inorganically, hinting at acquisitions of its own in the near future.
Probable targets might be smaller IT services firms that demonstrate vertical domain competencies or have specific geographic presence. Its no secret that Satyam is looking to bolster its business in banking, finance, and healthcare sectors. All three seem to have an insatiable appetite for off-shore IT services.
It wasn’t a surprise to many therefore when Raju said that Satyam’s BPO subsidiary, Nipuna Services, is likely to make a profit this year.
Western global systems integrators are becoming more attracted to Indian services firm. Earlier this year US-based IBM Corp bought Daksh e-Services Pvt, India’s third largest back office services firm for an undisclosed sum.
