Mahindra Satyam (formerly Satyam Computer Services Ltd) has gained 3.4% at Rs 67.85 in early trades over reports that the information and technology consulting and outsourcing company has acquired 100% of vCustomer Corporation's international operations for $27 million (approximately Rs 135 crore).
vCustomer is a Washington-based business process outsourcing (BPO) company.
This is the first 100 per cent acquisition of Mahindra Satyam since it became part of the Mahindra Group in April 2009. The acquisition also marks the entry of Mahindra Satyam’s BPO operations into other verticals such as retail and consumer technology, in addition to significantly enhancing technical support credentials.
“This is a landmark moment in Mahindra Satyam’s resurgence and reflects our investment appetite,” chief executive C P Gurnani said in a release.
The scrip opened at Rs 66.75 and has so far touched the day's high at Rs 68.50. Around 327,430 shares changed hands on the BSE counter, till 0945 hours.
