Tech Mahindra's controlling stake in Satyam

[Ceres]

Tech Mahindra won a bid to acquire a controlling 31 per cent stake in the fraud-tainted outsourcing firm Satyam Computer Services.

On behalf of all Satyamites and their families, we congratulate Tech Mahindra on being the highest bidder. The selection of the highest bidder, in a fair, open and transparent process, signals a new stage for the Company in its progress towards stabilization and growth. We hope this will infuse greater confidence and comfort amongst customers, who continue to be happy with Satyam?s excellent service delivery. This event ought to dispel the anxiety of all stakeholders as it re-positions the Company?s commitment to revival and good governance.

Source: Satyam sold: Tech Mahindra highest bidder

 

[Ceres]

It's now been announced that Satyam's new identity will be known as Mahindra Satyam. Trak.in predicts that once Satyam's clients get used to the Mahindra name, they will drop the name Satyam.

Due to the negative connotations associated with the name 'Satyam,' I think this would be a smart move.

 

[delhidude]

Better write it as "Mahindr Asatyam". Don't make "Satyam", which means truth, which part of India's national identity (Satyam Shivam Sundaram), a bad word.

 

[Ceres]

Better write it as "Mahindr Asatyam". Don't make "Satyam", which means truth, which part of India's national identity (Satyam Shivam Sundaram), a bad word.

Yes I agree. Taking into account the fraud that was uncovered, it's ironic that the company was ever named Satyam / truth.