Mahindra Satyam shares up on acquisition news

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Mahindra Satyam shares up on acquisition news
The shares of the Mahindra Satyam rose on the news of the acquisition of BPO firm vCustomer’s International operations for $27Mn.

The shares of the company on Friday at 11.45 am IST, were seen trading at Rs 67.60 up Rs1.95 on BSE.

This is the first 100% acquisition by Mahindra Satyam since it became part of Mahindra Group and marks the entry of Mahindra Satyam’s BPO operations into other verticals such as Retail and Consumer Technology in addition to significantly enhancing Technical Support credentials.

The combination of vCustomer’s expertise in the Retail and Consumer Technology verticals with Mahindra Satyam’s domain expertise and customer base will further strengthen the ability to address evolving market needs.

Mr. C P Gurnani, CEO - Mahindra Satyam, commented “This is a landmark moment in Mahindra Satyam's resurgence and reflects our investment appetite to enhance domain depth and global scale, across diverse verticals. The focus and operations of vCustomer maps perfectly with our global operating model - allowing for seamless integration and smooth transition of processes and associates.”

Read more about: mahindra satyam
Story first published: Friday, March 9, 2012, 11:49 [IST]
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