FACTBOX-Five facts about Indian outsourcer Satyam

Mon Dec 29, 2008 2:49am EST
 
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BANGALORE, Dec 29 (Reuters) - Shares in Satyam Computer Services (SATY.BO) rose on Monday after it said it would consider more options to improve shareholder value and business practices, including strengthening corporate governance. [ID:nBOM213870]

Indian outsourcer Satyam has seen its shares plummet by about 40 percent since a botched attempt two weeks ago to buy two infrastructure firms in which management held stakes and after news it has been barred from doing business with the World Bank.

Following are five facts about Satyam:

* Satyam, India's No. 4 software services exporter, was founded in 1987 by its chairman B. Ramalinga Raju, who was born into a family of farmers and is a management graduate from Ohio University.

* Satyam debuted on the Indian markets in 1991, followed by a listing in New York (SAY.N) in 2001. In 2008, it launched a secondary listing on Euronext Amsterdam under NYSE Euronext's new "fast path" process for cross listings in New York and Europe.

* Satyam, whose clients include General Electric (GE.N), Nestle (NESN.VX), Qantas Airways (QAN.AX), and Fujitsu (6702.T), specialises in business software, and offers back-office outsourcing and consulting services.

* In the fiscal year to March 2008, Satyam reported a 46.3 percent rise in revenue to $2.1 billion under the U.S. accounting standards, while net income rose 39.7 percent to $417 million. In October, it said revenue in this fiscal year ending in March 2009 will rise 19-21 percent to $2.55-$2.59 billion.

* Satyam, based in the southern Indian city of Hyderabad, had 52,865 employees at the end of the September quarter. It competes with local players such as Tata Consultancy Services (TCS.BO) and Infosys Technologies (INFY.BO) as well as global majors such as IBM (IBM.N) and Accenture (ACN.N) for outsourcing deals. (Compiled by Sumeet Chatterjee; Editing by Charlotte Cooper)

 

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