Satyam Acquires Bridge Strategy Group
January 21 2008 - 1:01AM
PR Newswire (US)
Chicago-based management consulting firm strengthens company's
high-end business services HYDERABAD, India, Jan. 21
/PRNewswire-FirstCall/ -- Satyam Computer Services Ltd. (NYSE:SAY),
a leading business and information technology services provider,
today announced that it has entered into a definitive agreement to
acquire Bridge Strategy Group, a Chicago, Ill.-based management
consulting firm. In making the $35 million, all-cash purchase,
Satyam significantly reinforces its strategy consulting and
business transformation capabilities. "Bridge Strategy Group is a
highly respected organization that is well known for its
exceptional professionals and its acumen in seven key industries,"
said Satyam Founder & Chairman, B. Ramalinga Raju. "By
absorbing the company, we gain an immediate influx of 36 brilliant
and experienced strategy consultants, most of whom are alumni of
the world's best strategy consulting firms and business schools. We
also significantly bolster our ability to provide the entire
spectrum of services to global customers. At the same time, Bridge
Group clients gain access to Satyam's world-class business process
and technology skills and global resources." Bridge Strategy, which
was founded in 1998, earned $17 million in revenue last fiscal
year. It develops profitable growth, operations design, performance
improvement, and execution strategies for clients of varying size.
It also boasts a strong thought leadership focus, and is committed
to helping its clients "rapidly improve their business
performance." Numerous factors make the acquisition ideal for
Satyam, Raju said. The organization's strategy, when purchasing
other companies, is to: -- Add higher value service offerings --
Bridge competency gaps -- Enhance leadership capabilities -- Add
sound and significant customer relationships -- Strengthen the
brand "Bridge Strategy does all of the above," he said. "With its
experts as part of our team, Satyam will deliver superior,
end-to-end transformational solutions with even greater speed and
efficiency. As we deepen our relationships with longstanding
customers, they expect us to provide highly strategic counsel. We
are now more able to accommodate that demand." For their part,
Bridge Strategy professionals look forward to helping their new
colleagues create more complete solutions for global clients. "The
strategic business problems Bridge Strategy clients face frequently
call for complex business process and technology solutions, which
makes this merger a natural fit," said Bridge Strategy President
and Senior Partner Stephen E. Sheridan. "We are pleased to add our
skills to Satyam's broad range of capabilities, and to help the
company strengthen its place at the forefront of the professional
services industry." While Bridge Strategy will continue to serve
clients in the US, Satyam's largest and most mature market, its
services will be made available to Satyam clients worldwide via
Satyam's advanced global delivery model. Sheridan, the current
president of Bridge Strategy, will assume the role of CEO for the
unit after the acquisition, and will report to Satyam Co- founder
& CEO, Ramu Raju, who will also serve as chairman of Bridge
Strategy Group. All current partners and staff are expected to
remain with the unit. For the foreseeable future, Bridge Strategy
will operate as a fully owned subsidiary of Satyam, and maintain
its name and brand. Plans to seamlessly integrate the firm into
Satyam's global network of capabilities are under way, and
initially focus on defining go-to-market strategies and value
proposition and competency development. About Satyam Satyam
(NYSE:SAY), a leading global business and information technology
services company, delivers consulting, systems integration, and
outsourcing solutions to clients in 20* industries and 61*
countries. Satyam leverages deep industry and functional expertise,
leading technology practices, and an advanced, global delivery
model to help clients transform their highest-value business
processes and improve their business performance. The company's
49,199* professionals excel in engineering and product development,
supply chain management, client relationship management, business
process quality, business intelligence, enterprise integration, and
infrastructure management, among other key capabilities. Satyam
development and delivery centers in the US, Canada, Brazil, the UK,
Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and
Australia serve 630* clients, including more than one third of the
Fortune 500. For more information, see http://www.satyam.com/. *As
of Dec. 31, 2007 Satyam Contacts For clarifications, write to us at
Or contact our global PR representatives at: India Archana Muthappa
+ 91-98451 83710 US Siobhan Aalders +1-212-880 5341, +1 347 387
0733 Europe Clare Gibbins +44-20-7309 1037 Asia-Pacific Reshma Wad
Jain, +65 6737 4844, +65 981 40507 Dan Bleakman, + 61 2 8281 3823
Safe Harbor This press release contains forward-looking statements
within the meaning of section 27A of Securities Act of 1933, as
amended, and section 21E of the Securities Exchange Act of 1934, as
amended. The forward-looking statements contained herein are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those reflected in the forward-
looking statements. Satyam undertakes no duty to update any
forward-looking statements. For a discussion of the risks
associated with our business, please see the discussions under the
heading "Risk Factors" in our report on Form 6-K concerning the
quarter ended September 30, 2007, furnished to the United States
Securities Exchange Commission on October 31, 2007 and the other
reports filed with the Securities Exchange Commission from time to
time. These filings are available at http://www.sec.gov/.
DATASOURCE: Satyam Computer Services Ltd. CONTACT: For
clarifications: , or global PR representatives: India, Archana
Muthappa of Satyam, + 91-98451-83710, ; US, Siobhan Aalders,
+1-212-880-5341, +1-347-387-0733, , Europe, Clare Gibbins,
+44-20-7309-1037, , Asia-Pacific, Reshma Wad Jain, +65-6737-4844,
+65-981-40507, , Dan Bleakman, +61-2-8281-3823, , all for Satyam
Web site: http://www.satyam.com/
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