Infy omits Satyam from its noteworthy rivals list
By siliconindia   |   Monday, 11 May 2009, 20:19 IST   |    9 Comments
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Infy omits Satyam from its noteworthy rivals list
Bangalore: The beleaguered Satyam Computers has gained stability under its new owner, Tech Mahindra. However, it is no more considered as a noteworthy competitor by the IT service provider Infosys. In its latest annual filing for the financial year ended March 31, 2009, Infosys has dropped the names of the IT service biggies Satyam and HCL from the list of its competitors. "In the future we expect competition from firms establishing and building their offshore presence and firms in countries with lower personnel costs than those prevailing in India," said Infosys. The company however, did not clarify the sudden omission of Satyam from the list. Earlier, Satyam had been a regular name on the list of competitors mentioned by Infosys in its annual report filings with the U.S. market regulator Securities and Exchange Commission. Both Infosys and Satyam are listed in the U.S. with Infosys on the Nasdaq and Satyam on the New York Stock Exchange (NYSE). Except for the two IT service firms' names, the company's latest report has broadly remained unchanged with the same names and factors about competition being stated. Other companies named as its competitors include software firms such as Oracle Corporation and SAP AG; business process outsourcing firms such as Genpact and WNS Global Services; and in-house IT departments of large corporations.

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