Satyam rebrands to shed scandalous past
Mahindra Satyam expects to double business from the Middle East over the next two years
Scandal-stricken Satyam has taken another step towards the future by unveiling its new brand identity – Mahindra Satyam – in the Middle East.
The company is now focused on retaining its current customer base of over 200 and winning back any business lost as a result of the financial scandal involving ex-chairman Ramalinga Raju earlier this year. CP Gurnani has been appointed CEO of the new Mahindra Satyam venture following an investment by Tech Mahindra Limited to acquire 31% of Satyam's share capital with plans to invest in 20% more through an open offer.
Mahindra Satyam has just signed a ‘multi-million dollar deal’ with a leading organization in the Middle East, and though no further details were made available, Atul Kunwar, newly-appointed head of Business Development and Operations for the company’s regional business groups (Europe, Australasia, Middle East, Africa and India) revealed that the company is seeing strong customer confidence from the region.
"We are grateful to all our stakeholders in the Middle East who believed in our capabilities and stood by us during the crisis. Their confidence is reflective in the fact that we haven't lost a single customer in the region in the last 6 months,” Kunwar told itp.net “The Middle East is an extremely important region for our growth strategy and we plan to double the business that we do from the region in the next 18-24 months."
The company has had a presence in the Middle East for close to a decade, with offices in the UAE, Kuwait, Qatar, Oman, Bahrain, Saudi Arabia, Yemen, Jordan and Egypt.