Satyam Gets EMC Consulting Contract
MUMBAI --Satyam Computer Services Ltd. has received an 18-month technology consulting contract worth about $5 million from U.S.-based EMC Corp., two people familiar with the matter said, indicating improving customer confidence in the Indian company emerging from the effects of a 2009 accounting fraud.</br></br>The recently signed deal is one of the first consulting contracts since the information-technology company's founder and former Chairman B. Ramalinga Raju confessed in January 2009 to overstating profits and cash balances.</br></br>Several clients had left the company following the fraud. A government-appointed board sold a controlling stake in Satyam to Tech Mahindra Ltd. in April 2009 through an auction and the company is on a recovery path since.</br></br>The EMC contract requires Satyam to offer ways for the cloud-computing and security-services provider to integrate different services running on multiple devices on a single software platform, one of the people said recently.</br></br>The consulting contract may pave the way for a wider technology services deal in future, the person added.