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iGate interested in buying Satyam: CEO

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Reuters

Posted: Jan 23, 2009 at 1549 hrs IST

Hyderabad IGate Corp, an outsourcing services provider, has informed the new board of Satyam Computer Services that it would be interested in buying the fraud-hit outsourcer, its chief executive said on Friday.

"We would be interested in buying Satyam, assuming we can figure out what their liabilities are," Phaneesh Murthy said in telephone interview.

"We believe the board is going to come with their own strategy ... if the strategy involves sale of the company then we will be interested in it."

IGate, which has about $65 million of cash, is in touch with private equity firms for possible funding of any deal, he said.

But IGate would not be interested in buying Satyam, which is fighting for survival after a revelation of massive accounting fraud, if its liabilities were more than $1.25 billion.

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Comment by Rohit on 23 Jan 2009

wow. aquisation of the melinium.. Tainted CEO

yahoo is expose by rajesh dharia on 23 Jan 2009

YAHOO IS TEMPERING WITH WEBSITEFILE AND NEVER EVER OPEN ACCOUNT WITH YAHOO IF YOU ARE BUSINESSMEN YOU SHOULD NEVER MAKE THIS MISTAKE.BECAREFUL WITH YAHOO COMPANY. RAJESH DHARIA

dfdf by Baatul on 23 Jan 2009

Phaneesh ... no nice girls in Satyam for u to have fun. Sorry.

You are a sick man by kaushal on 23 Jan 2009

'Baatul' I have seen many of your comments on IE. From your responses, you seem to be a literate but mentally sick person.

Comment: by Tejasvi on 23 Jan 2009

Tainted CEO for tainted company???

Igate shud not buy by Amit Pandey on 23 Jan 2009

Phaneesh is the person responsible for Infosys growth wat evear happened was really sad but he is the person who took IGATE also on high sky from a small organisation to a well know middel tier one buying satyam is not a big deal but not a profitable one.phaneesh we can discuss this if u want any suggestion . thanks amit pandey

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