Awaiting Satyam board's nod for due diligence: Aegis
Essar group's BPO arm Aegis said its waiting for a go-ahead from Satyams' board to conduct its due diligence towards acquiring its bpo business.
By PTI |
MUMBAI: Essar group's BPO arm Aegis today said it is waiting for a go-ahead from Satyam Computer's board to conduct its due diligence towards acquiring the business process outsourcing business of the beleaguered IT firm.
"We have submitted the EoI and after getting a go-ahead from the Satyam Board, we will carry out the due diligence. And, if that satisfies us, we will submit the LoI," Aegis' CEO Aparup Sengupta said.
Asked whether Aegis has received any communication after Satyam's Board meeting today, Sengupta said, "No. We have not received any communication from the Satyam Board so far."
While Aegis has expressed its intention to acquire the BPO business of Satyam, engineering major L&T is also reportedly looking at a full buyout of the IT firm and Genpact is said to be interested in BPO as well as IT services divisions.
L&T today increased its stake to over 12 per cent through open market transactions, but said it has not yet decided on a buyout.
Another IT firm, iGate also said today that it is interested in acquiring parts of Satyam Computer, which was hit hard earlier this month by the disclosure of a massive corporate fraud by its founder and then chairman B Ramalinga Raju.
"We have submitted the EoI and after getting a go-ahead from the Satyam Board, we will carry out the due diligence. And, if that satisfies us, we will submit the LoI," Aegis' CEO Aparup Sengupta said.
Asked whether Aegis has received any communication after Satyam's Board meeting today, Sengupta said, "No. We have not received any communication from the Satyam Board so far."
While Aegis has expressed its intention to acquire the BPO business of Satyam, engineering major L&T is also reportedly looking at a full buyout of the IT firm and Genpact is said to be interested in BPO as well as IT services divisions.
L&T today increased its stake to over 12 per cent through open market transactions, but said it has not yet decided on a buyout.
Another IT firm, iGate also said today that it is interested in acquiring parts of Satyam Computer, which was hit hard earlier this month by the disclosure of a massive corporate fraud by its founder and then chairman B Ramalinga Raju.
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