After passing through rough weather and reaching near normalcy following the financial fraud, Mahindra Satyam has set its eyes on acquisitions. It will acquire a minority stake for Rs 35 crore in Dion Global Solutions, the Delhi-based firm that provides solutions for capital markets globally.

The board of Dion, which met on Thursday, has decided to issue fresh shares on preferential basis to Mahindra Satyam.

The company would use proceeds to expand its services and geographical reach. It has convened an extraordinary general meeting on March 10 to seek its approval for the stake sale plan.

While giving thumbs up for Dion scrip, markets pushed down Mahindra Satyam scrip by one per cent. Dion shares went up five per cent to Rs 33.50, while that of latter closed at Rs 71.75 on the Bombay Stock Exchange.

Dion, which acquired Frankfurt-based Swissrisk Financial Systems for an undisclosed sum last month, provides solutions and services in portfolio management, trading, settlement, risk management, analytics, treasury and research services to 660 clients in 62 countries.

Mr C.P. Gurnani, Chief Executive Officer of Mahindra Satyam, said that his company believed in Dion story as it was backed by good management team.

“This alliance will help us further expand our solutions capabilities and make inroads to newer markets,” Mr Ralph J Horne, Managing Director and Global CEO of Dion, said.

Forex bonanza

Meanwhile, Dion has announced its results for the quarter ended December 31, 2011 on Friday.

Expenditure of the company in the quarter ended December 31, 2011, at Rs 9.11 crore was higher than its turnover of Rs 8.61 crore, leaving a loss of Rs 50 lakh from operations. Depreciation of rupee, however, saved the day as it gained Rs 6.9 crore on forex fluctuations.

>kurmanath@thehindu.co.in

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