The Channel logo

News

By | John Oates 23rd June 2009 10:43

Rebrand ahoy for tainted Satyam

Just like renaming Windscale as Sellafield

Indian outsourcer Satyam is to rebrand itself in order to draw a line under the revenue-boosting shenanigans of its ex-chief executive and founder, who is still awaiting trial.

Ramalinga Raju admitted falsely inflating Satyam revenues by about $1bn. He is still awaiting trial along with two auditors from PwC accused of signing off the books which they knew to be false.

The fraud collapsed in the wake of an aborted takeover of a building firm and an eight year ban from bidding for World Bank projects.

Satyam Computer Services Ltd will now be known as Mahindra Satyam - it was bought by the TechMahindra Group back in April.

The rebrand reflects Mahindra Satyam's core values which, we are told, are: good corporate citizenship, professionalism, customer first, quality focus and diginity of the individual.*

The logo will be adopted from TechMahindra's.

Additionally the company is expected to unveil a new management structure later today, and TechMahindra will issue new shares to raise money. BT owns about a third of TechMahindra's existing shares. ®

Bootnote

Funnily enough, Satyam drew its name - and old logo apparently - from the Sanskrit word for truth. At least that's what it told us...

comment icon Read 4 comments on this article alert Send corrections

Opinion

Houses of Parliament in night-time

Andrew Orlowski

Come on everybody, let's upload all our stuff into Government by Cloud
Joe Tucci EMC
frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties

Features

Alistair Darling and Alex Salmond debate Scottish independence
You keep the call centres, Hamish, we'll take the banks
Internet of Things
Everyone loves those Things, just not on each others' terms
No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever