Satyam denies any IBM connection

Satyam denies any IBM connection

Satyam Computer Services is one of the largest software companies in India and rumors in the media claimed that tech giant IBM were looking towards investing in the company for a stake. However, Satyam has now clarified that they have not had any talks with the IBM and are not interested in selling a stake in the company.

The company said in a statement confirming the denial: “Satyam vehemently denies and wishes to put to rest once and for all any rumors of having entertained in the past, directly or indirectly, any such talk, or dialogue with any global systems integrator. Nor does it intend to do as it considers the same to be not in the best interests of its stakeholders.”

Interestingly, the company did not mention IBM in any form during the release of this statement. However, it is pretty clear that they were referring to the rumor story originating from FT.com claiming that IBM was having talks with the company for a possible investment. IBM has shown considerable interest in expanding their operations in the Indian market and has already acquired entities like Daksh in the past.

Satyam is due to release their quarterly results on Friday.

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