Satyam acquires Citisoft
NEWS ANALYSIS: ACQUISITION | SATYAM EXPANDS CLIENT BASE – CITISOFT KEEPS BRAND NAME
HYDERABAD – Satyam Computer Services, an international IT consulting service provider, has acquired investment management technology consultancy Citisoft in order to expand its buy-side client base.
The acquisition will cost Satyam $23.2 million over a three-year period, as well as a performance-based payment of up to $15.5 million. Citisoft will operate as a subsidiary within Satyam’s financial services group, and will retain its name.
According to Anil Kumar, senior vice-president at Satyam’
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