Satyam Computer Services, the global consulting and IT services company, entered into a definitive agreement to acquire 100% stake in Nitor Global Solutions (NITOR) of the UK, a consulting firm providing infrastructure management services (IMS), for up to GBP 2.76 million (USD 5.5 million) in cash.
The deal marks the second acquisition in Europe by the company which recorded revenues of USD 1.46 billion in the fiscal year ended Mar. 31, 2007.Nitor, founded in 2002, posted revenues of USD 3 million for the year ended September 2007. Nitor has rich expertise in end-to-end solution implementation and program / project management in the IMS space. Satyam will merge Nitor into its IMS business. Todd Whaley will lead Satyam`s (Q, N,C,F)* IMS business in Europe following the acquisition, the company said.
Satyam Computer offers an array of solutions for a range of key verticals and horizontals. The company`s range of services include software development services, engineering services, systems integration, ERP solutions, customer relationship management, supply chain management, product development, electronic commerce, consulting and IT outsourcing. It has domain competencies in verticals such as automotive, banking and financial services, insurance and healthcare, telecom, infrastructure, media, entertainment, and semiconductors.
Shares of Satyam gained Rs 12.85, or 2.87%, to trade at Rs 461.30. The total volume of shares traded was 634,911 at the BSE. (12.00 noon, Tuesday)
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