MUMBAI, INDIA: Indian IT firm Mahindra Satyam today announced signing of memorandum of understanding (MoU) with Dion Global Solutions, underwhich Mahindra Satyam will acquire a strategic stake in Dion.

Under the MoU, the Hyderabad based firm Mahindra Satyam will acquire a significant minority stake via fresh issue of equity shares. The new equity shares will be priced at in accordance with the applicable SEBI regulations.

The transaction will be subject to regulatory and board approvals and satisfaction of other customery closing conditions, said a press release.

“We are extremely impressed by Dion's product and solutions, its ability to truly partner with its clients and most of all, its top class management team. We are convinced that in time to come, Dion will become one of the foremost software solutions providers to capital markets globally and are keen on participating in Dion's promising future,” C P Gurnani, Mahindra Satyam's CEO said.

“We are delighted to have Mahindra Satyam as a strategic investor in our company. Working with such an esteemed partner and combining the unique skills from both companies will allow us to cooperate on developing new innovative business focused solutions for all tiers of the financial services industry including many of our common clients. This alliance will help us further expand our solutions capabilities and make inroads to newer markets,” Ralph J Horne, Dion's MD and Global CEO said.

Dion has a portfolio of cutting edge-solutions and services for global capital markets covering portfolio management, trading, settlement, risk management, analytics, treasury and research services and serves more than 660 clients in 62 clients.
The proceeds from investment under consideration will be utilized by Dion to further enhance its offerings and its geographic reach, the release added.