Satyam rebranded as Mahindra Satyam

Hyderabad

June 21: Satyam Computers has rebranded itself as Mahindra Satyam and got a new logo incorporating Mahindra and Mahindra’s identity. The company’s name legally, however, will still continue to be Satyam Computer Services Ltd. The company was rebranded to distance itself from everything that is associated with its founder Ramalinga Raju, who confessed to the biggest accounting fraud in the Indian corporate history. The rebranding, company officials say, would help the IT major to do away with the negative image that the word Satyam has come to represent because of Mr Raju’s fraud. This newspaper had reported on May 25 that the company would be rebranded as Mahindra Satyam.

With this, the company sheds its old logo with a blue pyramid and gets a new logo that has ‘Satyam’ in red colour.
Unveiling the new logo, Mr Anand Mahindra, vice-chairman and managing director, Mahindra Group, said, “This rebranding exe-rcise symbolises an amalgamation of the Mahindra Group’s values with Satyam’s fabled expertise, even as it retains that part of Satyam’s identity which signifies commitment.”
Notwithstanding the rebranding, the company would be called Satyam Computer Services Ltd for all legal purposes at stock exchanges, where it has been listed, all government departments and courts.

Sources said the company would go in for an official name change after two years. “For an official name change, the company, being publicly-listed, would have to take shareholders permission at an extraordinary-general body meeting. Then we have to approach the Company Law Board for effecting a name change. However, because of some legal issues, we cannot take this recourse,” Mr Hari T., VP, marketing and communications, said.