Indiantelevision.com Team

(22 June 2009 5:45 pm)

MUMBAI: Soon after finding a suitor, scam-hit Satyam Computer Services is in for a branding makeover. The buyer, Tech Mahindra, has now decided to rename the IT major as Mahindra Satyam, with the Mahindra Group logo loaded on to it.

Senior executives from Mahindra & Mahindra (M&M), TechM and Satyam have been working closely on the rebranding exercise along with external advisors.

Mahindra Group vice chairman and MD Anand Mahindra says," This rebranding exercise symbolizes an amalgamation of the Mahindra Group's values with Satyam's fabled expertise, even as it retains that part of Satyam's identity which signifies commitment, purpose and proficiency of the organization and its people."

The company also plans to firm up the go-to-market strategy and its new corporate identity this week.

"This is a significant milestone towards the recovery of the company. We are optimistic that this new brand will re-energise the organisation and will be well received by all our stakeholders. With this initiative, we will witness steps by the management to adopt and inculcate the values of 'performance and customer first', 'good corporate governance and citizenship', which are drawn from the Mahindra Group," says Satyam board executive vice chairman Vineet Nayyar.

Satyam Computers shocked corporate India in January this year when founder promoter-CEO B Ramalinga Raju confessed of cooking up the company's balance sheet. After probing into the matter, the government took charge of the company and put it on sale after three months. Tech Mahindra bought 31 per cent stake in Satyam for Rs 17.56 billion in April.