Wipro drops Satyam from list of rivals

BANGALORE, INDIA: Scam-hit Satyam, which is struggling hard to regain its corporate identity and credibility, is still not in a position place itself as a strong competitor to other IT giants in India, it seems.

Following the path of Infosys, Wipro has also removed the beleaguered IT firm from the list of competitors in its annual report filings with the US market regulator Securities and Exchange Commission, for the financial year ended March 31, 2009.

“The market for IT services is highly competitive and rapidly changing. Our competitors in this market include consulting firms, big four accounting firms, global IT services companies, such as Accenture, IBM Global Services and India-based IT services companies such as Cognizant, Infosys and Tata Consultancy Services,” the Wipro filing on May 18 said.

However, Satyam, which used to be a regular in the list of competitors mentioned by companies like Infosys and Wipro, is absent from the list.

Earlier, Infosys had also dropped Satyam's name from its list of noteworthy rivals in its annual report filing with SEC, earlier this month.

Prior to the financial scam, which saw founder chairman Ramalinga Raju's exit from the organization followed by arrest and CBI inquiry, Satyam was known as the fourth-biggest software exporter from the country, after TCS, Infosys and Wipro.

Though Satyam is on a revival path after Tech Mahindra took a controlling stake in the company, Wipro and Infosys have not cited any reason from removing the IT firm from the list of competitors.