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Our Bureau

Hyderabad, July 9 Mahindra Satyam has signed a 5-year multi-million dollar SAP contract with the global pharma major GlaxoSmithKline (GSK).

According to the contract announced today, Mahindra Satyam, the new brand identity of Satyam Computer Services, would provide SAP and other critical systems support to GSK’s businesses across the world.

GSK has been a customer for the global consulting and IT services provider since 2002. “This development is a big boost for Mahindra Satyam, as it sends positive signals across a large number of clients, especially in Europe and the US,” said Mr Jacob Paul, Head of Global Delivery (Health Sciences).

The contract to ensure 24/7 support for SAP would be provided offshore from staff based out of Hyderabad (up to 80 per cent) and rest by onsite locations of GSK in the US and Europe, he told Business Line.

GSK is the largest client for Mahindra Satyam among its multiple customers in the life sciences business.

Mr Bill Louv, Chief Information Officer, GSK, said, “GSK is delighted to be able to extend our contract for another five years. We look forward to continuing to receive the high level of professionalism and commitment from Satyam and its associates that we have experienced over the past 7 years.”

Meanwhile, Tech Mahindra has informed the BSE that its post-open offer shareholding was at 50.42 per cent calculated on the basis of enhanced share capital (which is fully diluted share capital and additional shares).

The company had won the bid to buy out 31 per cent stake in the erstwhile Satyam Computer Services on April 13, through it subsidiary Venturbay Consultants Pvt. Ltd at a cost of Rs 1,760 crore (Rs 58 a share). The balance 20 per cent was to be acquired through an open offer at a price of Rs 58 a share, for which it deposited the necessary funds in an escrow account.

Following no response to the open offer and subsequent nod from the Company Law Board, for issue of 19.86 crore fresh shares at Rs 58 a share, the company transferred the money in the escrow account.

More Stories on : Alliances & Joint Ventures | Software | Pharmaceuticals | Satyam Computer Services Ltd | Glaxosmithkline Pharmaceuticals Ltd

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