Although several companies are trying to have a bite into Satyam Computers, according to Gartner study, the company is likely to exist in its current form.
It is expected to discontinue some of its businesses, service lines or cease to exist in certain geographies by 2010. The study indicated that even the name Satyam may not be around by that time, as the company is expected to undergo a complete change, in ownership and organizationally.
Satyam’s ability to sign on new clients during 2009 has significantly diminished, says the study. ‘‘In addition, it will be challenged to invest in client engagements, staff developments or R&D, all critical elements for IT services,’’ said Gartner’s V-P for research, Frances Karamouzis.
The fraud hit company Satyam Computers Services is finding quite a few number of suitors towards it.
Engineering giant L&T and Tech Mahindra, the software arm of the M&M group, have already shown interest in taking management control of Satyam. Now Spice, which is already into the mobile and real estate sector is bidding for a stake in Satyam.
“We are a serious bidder and have enough cash for acquiring Satyam. We have decided to rope in Enam Securities as the investment banker for the deal,” Spice Group chairman B K Modi told ET after a board meeting on Saturday evening.
The company has cash from the recent sale of a group company Spice Telecom to Idea Cellular Ltd.
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