iGate backs out of Satyam bidding

US IT services provider iGate has withdrawn from the bidding to buy troubled Indian company Satyam following further analysis of the company which was shook by a fraud in January.

US IT services provider iGate has withdrawn from the bidding to buy troubled Indian company Satyam following further analysis of the company which was shook by a fraud in January.

The company is one of four that has so far announced aninterestin acquiring Satyam.The other three areIndian engineering firm Larsen & Toubro, IT services firm Tech Mahindra and Spice Group.

"Based on further analysis it has decided not to participate further in the bidding process for Satyam," said an iGate statement.

Firms such as IBM, HP and CSC are also said to be interested.

Read more on IT outsourcing

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close