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Top Indian firms are glad a tech giant didn't acquire Satyam
By siliconindia
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Tuesday, 14 April 2009, 18:04 IST |
3 Comments
Bangalore: The conclusion of the much talked about Satyam bid has offered a two-way relief to the corporate world. The finale asserts the ability of the country to swiftly handle such a crisis and the winning bid being in the hands of a sub-million dollar firm Tech Mahindra come as a boon to the multi-billion dollar Indian companies. Had an IT biggie won the bid, they would have faced a stiffer competition.
"A larger company like Cognizant would have been more successful in retaining the clients of Satyam and could have made a strong pitch for getting more business," said an official, who represents one of the large Indian IT companies, on condition of anonymity. The combined entity of Satyam and Cognizant could have proved to be a formidable competition for the Indian biggies like TCS, Infosys and Wipro. The firms didn't show interest in bidding for Satyam but were keenly watching the developments in the company.
Another top IT industry official said, "Tech Mahindra will have to be charismatic in retaining clients." He further added that many of Satyam's larger clients were given strong assurances from the government for remaining with the company and now this comfort factor has disappeared. Chandramouli, Director - advisory services, Zinnov, said, "Customers can expect high level of commitment from Tech Mahindra account management team in accommodating the requirements and being flexible to changing market conditions."
