The sordid saga of Satyam is finally over. Customers and employees of what used to be India’s fourth largest software services firm can breathe easy now, as the new board of Satyam has found a perfect suitor in Tech Mahindra.
Anand Mahindra (Left) and Tech Mahindra vice chairman and MD Vineet Nayyar interacting with the media on the acquisition
The three wise men—Deepak Parekh, C.K. Achuthan and Kiran Karnik— appointed by the Government to oversee the beleaguered company’s affairs have pulled off a feat of sorts because Satyam will live to see another day. Says Karnik, a Satyam board member: “In many ways, I would say today marks the rebirth of Satyam.” Merely four months after its founder B. Ramalinga Raju admitted to fudging the books, Satyam’s new board has managed to salvage the company despite all odds.
