Rise and Fall of Satyam

The rise, rise and fall of Satyam {draw:frame} Wed, Jan 7 06:33 PM Here is a brief history of the company, which was at once a flagbearer of Cyberabad, as its headquarters and Andhra Pradesh capital Hyderabad were hailed in the advance(prenominal) years of the IT boom in late 1990s.

Established: June 24, 1987 world-wide Headquarters: Hyderabad Development Centres: Bangalore, Basingstoke, Beijing, Bhubaneswar, Budapest, California, Chennai, Chicago, Dalian, Georgia, Guangzhou, Gurgaon, Hartford, Hyderabad, Kuala Lumpur, Melbourne, Mumbai, Munich, Mississauga, New Jersey, Ontario, Pune, Sao Paulo, Shanghai, Singapore, Sydney, Tokyo, Wiesbaden Employee strength: 52,865 (including employees in subsidiaries and spliff ventures) as on Sep 30, 2008 1991: Debuts on Bombay Stock Exchage with an initial public offering oversubscribed 17 times 1999: Satyam Infoway (Sify) becomes the initiatory Indian meshwork company listed on Nasdaq; presence established in 30 countries 2001: Listed on the New York Stock Exchange with trading boot SAY 2006: Revenue exceeds $1 billion; sets up the first Global Innovation Hub in Singapore and operations in Guangzhou, china 2008: Revenue crosses the $2-billion mark 2008 Dec 16: Announces plan to barter for two Maytas firms; calls off the deal within hours in the impertinence of shareholders opposition; share price tumbles Dec 18: Announces hop on meeting on Dec. 29 to consider share buyback as markets hammer the shares Dec 28: Puts off get on meet to Jan 10 Dec 29: Three more(prenominal) directors quit 2009 Jan 2: Founder-promoters stake falls from 8.64 pct to 5.13 percent as financial institutions with whom the entire stake was pledged dump the shares Jan 6: Promoters stake falls further as lenders offload more pledged shares Think of Satyam Computer Services (Satyam) at a time and you cant help but recall the advice of the richest human on this planet, Warren Buffet: It takes 20 years to build a reputation and five minutes to ruin it. If you think rough that, youll do things differently.... If you want to get a full essay, send it on our website: Ordercustompaper.com

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