Satyam eyes $50-m buy in US, Europe

MUMBAI: Satyam Computer Services Ltd. is looking to acquire a telecom or technology consulting firm in the United States or Europe for up to $50 million, the Economic Times said on Thursday.

Satyam, India's fourth-biggest software services firm, was in talks with five or six companies, the newspaper said, citing Chief Financial Officer Srinivas Vadlamani.

"We have considerably strengthened our consulting practice ... in addition, we are also looking at buyouts in the enterprise business solutions space. An acquisition in the telecom space could bring domain expertise in areas such as billing," Vadlamani told the paper.

"We plan to go for niche small buyouts with a 'string of pearls' acquisition strategy rather than a transformational merger and acquisition that involves large buyouts," he said.

A senior company official told Reuters in February Satyam's back-office unit was eyeing an acquisition in India or overseas.

© Reuters