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January 4, 2004

SSI and Scandent merge services arms

Indian software and services firm SSI Ltd is to merge its IT services business with that of Singaporean rival Scandent Group.

By CBR Staff Writer

In a bid to compete against larger offshore rivals, Chennai-based SSI will spin off its software services business as a separately listed company on the stock market, and Scandent’s IT services division will then be merged into the unit. Following the deal, SSI and Singapore-based Scandent will each hold an equal stake in the merged firm, which will have annual revenue of $60m and a workforce of 1,100 people. Scandent’s founder and CEO Ramesh Vangal will head the new company up.

This article is based on material originally produced by ComputerWire.

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