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

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

Features

Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany
Inside the Google Lab where surgeons prepare the human/dog experiment
Big Blue exec tells El Reg what to keep an eye on