Satyam Computer Services To Acquire NITOR

Satyam Computer Services has entered into a definitive agreement to acquire 100% stake in Nitor Global Solutions (NITOR) of the UK, a niche consulting firm providing infrastructure management services (IMS), for up to GBP 2.76m (US$ 5.5M) in cash on . The deal marks the second acquisition in Europe by the Indian software giant which recorded revenues of US$1.46 billion in the fiscal year ended 31 March 2007.

NITOR, which was founded in 2002 posted revenues of US$ 3M for year ending September 2007. NITOR has rich expertise in end-to-end solution implementation and program / project management in the IMS space. NITOR brings to Satyam new relationships with some of the dominant players in banking, pharma, and telecom & media industry in Europe.Satyam will merge NITOR into its IMS business. Todd Whaley will lead Satyam's IMS business in Europe following the acquisition.

The company made this announcement during the trading hours today, 23 October 2007.

Earlier today, Satyam computer signed an agreement with Fujitsu Services to provide information technology (IT) services to Reuters as part of a 10-year.

As per recent reports, Satyam Computers Services will soon be opening its development centre in Madurai. The company has applied for 50 acres under ELCOT scheme proposed in the university land on Theni road. The approval of the allotment from the Cabinet came last week. The documentation is under process. As soon as the Government announces the approval, they would start the work, company said.

On 27 September 2007, Satyam Computer Services launched a new solution center in Brisbane's central business district. The facility will support Satyam's Queensland-based clients across various IT platforms with an emphasis on enterprise application-based solutions. The Hyderabad-based Satyam Computers already has development centres in Melbourne and recently launched a regional solutions hub in North Sydney adding up to over 7,500 square meters.

As per recent reports, Satyam Computers has set aside $1 billion (around Rs 4,100 crore) to buy attractive companies.

The company is also scouting for a third acquisition in the consulting space in the US and Europe, in line with its commitment to strengthen this vertical. It is looking at spending anywhere between $50 million and $100 million for this buy, reports suggest.

On 5 September 2007, the company launched integrated digital media framework (IDMF), a solution accelerator for content producers to increase monetizable opportunities. The launch took place on the sidelines of IFRA Expo 2007 in Chennai.

On 27 August 2007, the company launched two niche composite solutions on SAP for the banking as well as the oil & gas industry. Both of these have been certified by SAP and are powered by NetWeaver technology.

On 31 July 2007, the company bagged two multi-million dollar IT contracts with the Federation Internationale de Football Association (FIFA).

Satyam Computer Services’ net profit surges 7.19% to Rs 417.15 crore on 10.75% rise in sales to Rs 1948.24 crore in Q2 September 2007 over Q1 June 2006.

The company provides information technology services, Internet services and develops software products.