Acquisition By Mahindra Group
On 13 April 2009, via a formal public auction process, a 46% stake in Satyam was purchased by Mahindra & Mahindra owned company Tech Mahindra, as part of its diversification strategy. Effective July 2009, Satyam rebranded its services under the new Mahindra management as "Mahindra Satyam" with a new corporate website www.MahindraSatyam.com.
C.P Gurnani is the current CEO.
Read more about this topic: Satyam Scandal
Famous quotes containing the words acquisition and/or group:
“Wars and revolutions and battles are due simply and solely to the body and its desires. All wars are undertaken for the acquisition of wealth; and the reason why we have to acquire wealth is the body, because we are slaves in its service.”
—Socrates (469–399 B.C.)
“Once it was a boat, quite wooden
and with no business, no salt water under it
and in need of some paint. It was no more
than a group of boards. But you hoisted her, rigged her.
She’s been elected.”
—Anne Sexton (1928–1974)