"The results, new client wins and business orders show good signs of our jobs being intact. With the media reports indicating that the company's annualised revenue run-rate would be much higher than expected, we are now confident that Satyam and its new owner will keep the people on the bench busy with new client engagements in the coming months," said a Satyam associate. A top official added, they're especially happy with the announcement of $380 million worth of new orders.
More trouble is brewing for Maytas Properties Ltd, the unlisted company promoted by the family of Satyam Computer Services Ltd founder B Ramalinga Raju.
Scraping, which implies lifting content from the original site and placing it on some other site without authorisation of the original developer, has consistently proved a sore point for Indian gaming companies since it robs them of potential revenue. Now, however, with clever use of technology, online flash game advertising firms like MochiAds, Inviziads and Gamejacket are putting game developers back in control of their content.
Tech Mahindra's acquisition of Satyam Computer Services, according to an internal survey, has helped in restoring the confidence of the latter's clients, many of whom were thinking of terminating their ties with the fraud-hit IT firm.
For instance, Dr Reddy's Laboratories has six active pharmaceutical units in Andhra Pradesh. The waste streams from the API units mostly contain potassium sulphate, caustic lye, potassium chloride, potassium sulphate and sodium sulphate salts.
The satisfaction of serving the masses is proving to be a bigger lure for some management graduates.
The Central Bureau of Investigation, investigating the financial scam at Satyam Computer Services, is finding it difficult to crack the content of the two laptops that belong to the company's founder, B Ramalinga Raju. It is now sourcing special accessories to unearth the data stored in them.
TM has an agreement with the Union of European Football Associations, while Satyam has signed up with Fifa. A Satyam spokesperson said: "Tech Mahindra has been providing mobile streaming services to Uefa, besides other telecom services. The company will support us by offering its technology expertise in football. We will go together for the two World Cups." TM and Satyam's alliance on sports may not end with the World Cup and may expand to other disciplines as well.
Within a week of Tech Mahindra emerging the successful bidder for Satyam and depositing the entire amount in two escrow accounts on Tuesday, Satyam employees appear in a jubilant mood. Even those who thought job losses were inevitable now see growth. Tech M depositing the amount for acquiring the stake in Satyam has given assurance to the employees. "This is swift and concrete action. We are now sure our jobs are protected," said a Satyam employee.
One associate feels rebuilding trust in existing and prospective clients will take six months to a year. "Currently, it's business as usual for those who are involved in project development but not for those in business development. We don't have financials and without it we cannot convince clients about our capabilities. Now that we have come under the umbrella of Tech Mahindra, things may change for the good soon," he said.
Even as most of the 50,000-odd employees at Satyam Computer Services remain concerned about job and pay cuts, 250 to 300 employees working on the Merrill Lynch project have accepted an offer from Bank of America (BofA), the bank that bought the sub-prime meltdown-hit investment bank in September last year.
Election 2009 is revitalising the Indian gaming companies' interest in developing games based on political and election themes for online and mobile platforms.
Hyderabad-based game development company 7Seas Technologies Limited has developed five free online political games that enable you to make politician do all kinds of things -- virtually.
The ongoing placement season at the Indian School of Business in Hyderabad is seeing some undercurrents of slowdown and recession.
GramIT, rural business process outsourcing initiative of the Byrraju Foundation, is in talks with various funding agencies 'to expand the scope and presence of its rural BPO services,' said foundation's lead partner Verghese Jacob. Byrraju Foundation is the NGO outfit formed by Satyam Computer Services founder B Ramalinga Raju in his personal capacity.
The scam-tainted Satyam Computer Services appears to be gearing for action after almost a month of uncertainty.
After waiting for months for Satyam Computer Services to honour their job offers, several wannabe Satyamites finally landed at the scam-hit company's headquarters in Hyderabad to get an assurance on their jobs. Satyam has been the preferred choice for many students and colleges alike. But over the last couple of years, the company has either reduced the intake or stopped going to institutes for recruitment. The company usually recruited in advance anticipating new projects.
ISB is in the process of framing guidelines on the proposed initiative. It will also approach companies for supporting the students. There is also a proposal to provide grants to the entrepreneurs. However, this is still in nascent stages.
Employees of the beleaguered Satyam Computer Services are now finding it difficult to get personal loans or pay back equated monthly instalments. Even their credit card limits have been reduced by almost 80 per cent since banks have become stringent following reports of the severe cash crunch at Satyam on the back of the admission of a financial fraud by the former company chairman Ramalinga Raju.
Hyderabad-based technology company, NowPos (short for NowPossible) Online Services Private Limited, has developed a new process - Beep - where one can place brand logos or miniature advertisements on mobile screens.
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