Satyam encouraged by Middle East growth

Satyam has revealed that its Middle East operations are growing at a high double-digit rate following its recent ‘leadership summit’ in Dubai. The event marked the first time the 35,000 strong IT services and consultancy provider has held such a gathering in the Middle East, despite operating in the region for a decade.

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By  Dawinderpal Sahota Published  December 21, 2006

Satyam has revealed that its Middle East operations are growing at a high double-digit rate following its recent ‘leadership summit’ in Dubai. The event marked the first time the 35,000 strong IT services and consultancy provider has held such a gathering in the Middle East, despite operating in the region for close to a decade. Rama Raju, managing director and CEO at Satyam, said: “Satyam serves more than 160 customers across a variety of industry verticals in the Middle East, and since entering the region nearly ten years ago has completed over 150 full life-cycle projects.” The company used the discussion forum as an opportunity to announce that it has been experiencing 70% year-on-year revenue growth in the Middle East, although it is unclear as to the exact scale of this growth as it has not disclosed sales figures. Over the past year, Satyam has expanded its regional operations through satellite offices in Kuwait, Oman, Bahrain, Qatar and Saudi Arabia. It also set up its first global development centre in the region, a 300-seat facility in Egypt, to better serve Middle East customers and improve local standards of IT fluency in the region. Virender Aggarwal, director and senior VP Asia Pacific, Middle East, India and Africa, said: “Satyam is experiencing a major growth phase regionally and globally, and global expansion will be fuelled by local investment that brings us closer to our customers.” Satyam has also entered the banking sector in Kuwait, and signed nine new Kuwaiti customers in total over the past year across the banking, retail, telecom, manufacturing, construction, and travel sectors. The company claims that three of the orders are each valued at over US$1 million each. Its Saudi operations are also expanding, following a five-year strategic engagement with the Islamic Development Bank, as well as deals with Qatari oil and gas, retail and telecom companies in over 2006. Satyam has also signed a partnership agreement with Al Mana Group in Qatar and won a strategic engagement with BMMI of Bahrain. “Customer wins are a key focus, but the Satyam business model demands a return investment in the markets we serve, and that's why initiatives aimed at enhancing local human resources and improving local infrastructure are rapidly gathering pace,” added Raju. Currently around 250 Satyam consultants now work in the region and Raju claims “further investments in local manpower are also planned going forward.”

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