IGate interested in Satyam, seeking PE support
>> Friday, January 23, 2009
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 a 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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