The Hindu Business Line : Satyam forms think tank for strategic deals

SATYAM Computer Services has set up a `think tank' for large outsourcing deals and has roped in the services of a former top executive of Computer Sciences Corporation (CSC) to head it.

The mandate of the Strategic Deals Group, currently comprising 8 members, is to pursue large deals in the range of $100 million plus and at least 3-4 such deals every year.

The head of the group, Mr Hetzel W. Folden, said: "The trend is towards handing over deals in the range of $100-500 million as opposed to $1-3 billion deals. We are targeting such deals and expect to partner with other multinational corporations."

Mr Folden joins Satyam from CSC, the $14-billion IT services provider. He was part of the strategic deals team and played the role of lead negotiator in closing deals worth $3 billion over the last few years.

Speaking to newspersons, Mr Folden said: "As an end-to-end services provider, Satyam now is gearing up for such large deals that involve cross- functional expertise. Though business from Europe is about 20 per cent plus, we expect a greater momentum from the European market. Banking and financial services, healthcare including drugs and pharma sectors, would be pursued."

Refraining to comment on which companies they were currently negotiating with, Mr Folden said that large deals from the World Bank, ING, Pfizer, and SKF were being pursued.

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