Hyderabad, India (ots/PRNewswire) -
- Chicago-Based Management Consulting Firm Strengthens Company's
High-End Business Services
Satyam Computer Services Ltd. (NYSE:SAY), a leading business and
information technology services provider, today announced that it has
entered into a definitive agreement to acquire Bridge Strategy Group,
a Chicago, Ill.-based management consulting firm. In making the $35
million, all-cash purchase, Satyam significantly reinforces its
strategy consulting and business transformation capabilities.
"Bridge Strategy Group is a highly respected organization that is
well known for its exceptional professionals and its acumen in seven
key industries," said Satyam Founder & Chairman, B. Ramalinga Raju.
"By absorbing the company, we gain an immediate influx of 36
brilliant and experienced strategy consultants, most of whom are
alumni of the world's best strategy consulting firms and business
schools. We also significantly bolster our ability to provide the
entire spectrum of services to global customers. At the same time,
Bridge Group clients gain access to Satyam's world-class business
process and technology skills and global resources."
Bridge Strategy, which was founded in 1998, earned $17 million in
revenue last fiscal year. It develops profitable growth, operations
design, performance improvement, and execution strategies for clients
of varying size. It also boasts a strong thought leadership focus,
and is committed to helping its clients "rapidly improve their
Numerous factors make the acquisition ideal for Satyam, Raju said.
The organization's strategy, when purchasing other companies, is to:
- Add higher value service offerings
- Bridge competency gaps
- Enhance leadership capabilities
- Add sound and significant customer relationships
- Strengthen the brand
"Bridge Strategy does all of the above," he said. "With its
experts as part of our team, Satyam will deliver superior, end-to-end
transformational solutions with even greater speed and efficiency. As
we deepen our relationships with longstanding customers, they expect
us to provide highly strategic counsel. We are now more able to
accommodate that demand."
For their part, Bridge Strategy professionals look forward to
helping their new colleagues create more complete solutions for
"The strategic business problems Bridge Strategy clients face
frequently call for complex business process and technology
solutions, which makes this merger a natural fit," said Bridge
Strategy President and Senior Partner Stephen E. Sheridan. "We are
pleased to add our skills to Satyam's broad range of capabilities,
and to help the company strengthen its place at the forefront of the
professional services industry."
While Bridge Strategy will continue to serve clients in the US,
Satyam's largest and most mature market, its services will be made
available to Satyam clients worldwide via Satyam's advanced global
Sheridan, the current president of Bridge Strategy, will assume
the role of CEO for the unit after the acquisition, and will report
to Satyam Co-founder & CEO, Rama Raju, who will also serve as
chairman of Bridge Strategy Group. All current partners and staff are
expected to remain with the unit.
For the foreseeable future, Bridge Strategy will operate as a
fully owned subsidiary of Satyam, and maintain its name and brand.
Plans to seamlessly integrate the firm into Satyam's global network
of capabilities are under way, and initially focus on defining
go-to-market strategies and value proposition and competency
Satyam (NYSE: SAY), a leading global business and information
technology services company, delivers consulting, systems
integration, and outsourcing solutions to clients in 20(i) industries
and 61(i) countries.
Satyam leverages deep industry and functional expertise, leading
technology practices, and an advanced, global delivery model to help
clients transform their highest-value business processes and improve
their business performance. The company's 49,199(i) professionals
excel in engineering and product development, supply chain
management, client relationship management, business process quality,
business intelligence, enterprise integration, and infrastructure
management, among other key capabilities.
Satyam development and delivery centers in the US, Canada, Brazil,
the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and
Australia serve 630(i) clients, including more than one third of the
Fortune 500. For more information, see http://www.satyam.com.
(i) As of Dec. 31, 2007
This press release contains forward-looking statements within the
meaning of section 27A of Securities Act of 1933, as amended, and
section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements contained herein are subject to certain
risks and uncertainties that could cause actual results to differ
materially from those reflected in the forward-looking statements.
Satyam undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with our business, please
see the discussions under the heading "Risk Factors" in our report on
Form 6-K concerning the quarter ended September 30, 2007, furnished
to the United States Securities Exchange Commission on October 31,
2007 and the other reports filed with the Securities Exchange
Commission from time to time. These filings are available at
ots Originaltext: Satyam Computer Services Ltd.
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