In a bid to enhance the shareholders’ value, country’s No. 4 software services exporter, Satyam Computer Services has decided to engage the services of DSP Merrill Lynch.
Earlier on Saturday evening, the company decided to postpone its December 29 meeting and also enlarged the agenda, which was only to discuss the buyback option.
It is learnt that the Satyam Computer Services could also see a change in the composition of its board when it meets on January 10 (as against the earlier date of December 29).
Even as the investor community is worried about the developments, Satyam Computer Services has postponed the crucial board meeting, which was to have taken place on Monday (Dec 29).
A Satyam representative said, “The meeting has been postponed to ensure physical participation by all members on the board. The idea is to have extensive discussions on all the issues, including buyback.”
The board of Satyam Computer Services would meet on December 29 to discuss the various issues including the fate of its independent director, Dr Mangalam Srinivasan and Chairman, Ramalinga Raju. Dr. Srinivasan and Mr. Raju are under pressure to quit their posts following the failed attempts to acquire Maytas firms. The Dean of Indian School of Business, Dr Mendu Rammohan Rao would also attend the proposed meet.
Indian IT services provider Wipro Technologies has decided to acquire Citigroup’s arm, Citi Technology Services, the technology and infrastructure outsourcing arm of Citibank for an all-cash offer of $127m.
Founded in 2005, India-based Citi Technology provides IT services to the Citigroup entities in more than 32 countries. The company provides critical technology infrastructure support, development and deployment of strategic software applications in the BFSI domain.
Personal computer (PC) shipments showed a marginal increase of 1.7% for the period ended September 2008. It indicates about 9 per cent drop in the PC shipments as compared to the previous data. Meanwhile, note book shipment has shown 38% increase in the third quarter according to the recently compiled data of research firm, IDC.
Indian software and outsourcing giant Wipro Technologies, is all set to buy the IT arm of Citigroup for around $127 million. Citi Technology Services deals with IT services and solutions of City group's Indian operations.
Citigroup would outsource all future infrastructure management contracts to Wipro. The Indian firm would also absorb about 2000 employees of City in its Mumbai and Chennai offices. It would provide all infrastructure and development related aids to the bank for six years, to assure revenue of at least $500 million.
In a bid to enhance the shareholders’ value, country’s No. 4 software services exporter, Satyam Computer Services has decided to engage the services of DSP Merrill Lynch.
Even as the investor community is worried about the developments, Satyam Computer Services has postponed the crucial board meeting, which was to have taken place on Monday (Dec 29).
The board of Satyam Computer Services would meet on December 29 to discuss the various issues including the fate of its independent director, Dr Mangalam Srinivasan and Chairman, Ramalinga Raju. Dr. Srinivasan and Mr. Raju are under pressure to quit their posts following the failed attempts to acquire Maytas firms. The Dean of Indian School of Business, Dr Mendu Rammohan Rao would also attend the proposed meet. 
Indian IT services provider Wipro Technologies has decided to acquire Citigroup’s arm, Citi Technology Services, the technology and infrastructure outsourcing arm of Citibank for an all-cash offer of $127m. 
Personal computer (PC) shipments showed a marginal increase of 1.7% for the period ended September 2008. It indicates about 9 per cent drop in the PC shipments as compared to the previous data. Meanwhile, note book shipment has shown 38% increase in the third quarter according to the recently compiled data of research firm, IDC. 
Indian software and outsourcing giant Wipro Technologies, is all set to buy the IT arm of Citigroup for around $127 million. Citi Technology Services deals with IT services and solutions of City group's Indian operations. 
