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

Privacy image

Frank Jennings

Two working parties, ministers galore... but data transfer law remains in limbo
EMC_Unity_bezel

Chris Evans

It does simplify the hardware setup, whatever it is
A microscopic view of the biometric shark skin. Pic: James Weaver

Chris Mellor

Do something and stop faffing about in the bush league

Kat Hall

International system in general needs greater transparency

Features

Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers