Hyderabad, June 21: Software services provider
Satyam Computer Services Ltd on Sunday unveiled its new brand
identity, "Mahindra Satyam", symbolising the amalgamation of
the Mahindra Group's values with Satyam's expertise.
"This rebranding exercise symbolises an amalgamation of
the Mahindra Group’s values with Satyam’s fabled expertise,
even as it retains that part of Satyam’s identity which
signifies commitment, purpose and proficiency of the
organisation and its people," Mahindra Group Vice-Chairman and
Managing Director Anand Mahindra said.
The logo for the new brand would be adopted from the
Mahindra Group, a company statement said.
The "Mahindra Satyam" brand would be based on values such
as good corporate citizenship, professionalism, customer
first, quality focus, and the dignity of the individual, the
statement further added.
"With this initiative, we will witness steps by the
Management to adopt and inculcate the values of performance
and customer first, good corporate governance and citizenship,
which are drawn from the Mahindra Group," Satyam Board
Executive Vice-Chairman Vineet Nayyar said.
With this synergistic approach, Mahindra Satyam will
learn from the best management practices of the Mahindra Group
while focusing on nurturing Satyam’s innate skills and
capabilities, Nayyar added.
Once ranked number four IT exporter, Satyam was rocked by
an accounting scandal.
In April Tech Mahindra had outbid others in the race to
acquire a majority stake in the scam-tainted Satyam Computer,
following which Venturbay, the acquisition vehicle of Tech
Mahindra, had deposited Rs 1,756 crore in the escrow account
as the subscription amount for the initial shares.
Further, Tech Mahindra has a cash tender offer to the
public shareholders for acquiring an additional 20 per cent,
at a minimum of Rs 58 per share, which started on June 12.
Bureau Report
First Published: Sunday, June 21, 2009, 19:40