Satyam acquires U.S. based consulting firm
Tuesday, 22 January 2008, 21:01 IST
Printer Print Email Email
Hyderabad: Satyam Computer Services on Monday announced that it has entered into an agreement to acquire Bridge Strategy Group, a Chicago based management consulting firm, for $35 million. Satyam founder and chairman B. Ramalinga Raju told a news conference here Monday that with this all-cash purchase, Satyam would significantly reinforce its strategic consulting and business transformation capabilities. Bridge Strategy, which was founded in 1998, earned $17 million in revenue last fiscal. It develops profitable growth, operations design, performance improvement, and execution strategies for clients of varying size. 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. "Bridge Strategy Group is a highly respected organisation that is well known for its exceptional professionals and its acumen in seven key industries," said 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," he said. 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 and CEO, Rama Raju, who will also serve as chairman of Bridge Strategy Group. All current partners and staff are expected to remain with the unit. Bridge Strategy will operate as a fully owned subsidiary of Satyam, and maintain its name and brand. Satyam said 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. Satyam, a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in 61 countries.
Source: IANS
siliconindia