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Satyam to acquire Motorola’s Malaysia software unit

Posted by Yogesh on Monday, 10 November, 2008

BANGALORE, Nov 10 (Reuters) – India’s Satyam Computer Services Ltd said it will acquire Motorola’s software development unit in Malaysia, in a deal which should be completed by the end of 2008, subject to regulatory approvals.

New York-listed Satyam, India’s No. 4 software services exporter, will take on 128 Motorola employees as part of the deal, it said a statement to the stock exchanges on Monday.

Financial details of the deal were not disclosed.

Last month, Motorola outlined a plan to save $800 million in costs in 2009, by cutting 3,000 jobs, or 4.5 percent of the company’s workforce, and narrowing its focus to its strongest regions such as North America. Source Reuters

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One Response to “Satyam to acquire Motorola’s Malaysia software unit”

  1. Yes, and 1 out of 128 Motorola employees is me *Sigh 😦

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