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Mahindra Satyam gains on entering into strategic partnership with Aspire Zone Foundation

Mahindra Satyam Ltd. (Amalgamated) | IT - Software | IT & ITES | BSE: 500376 | NSE: SATYAMCOMP

10 Jul 2012 Evaluate

Mahindra Satyam is currently trading at Rs. 81.75, up by 0.85 points or 1.05% from its previous closing of Rs. 80.90 on the BSE.

The scrip opened at Rs. 81.20 and has touched a high and low of Rs. 82.25 and Rs. 80.95 respectively. So far 85,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 90.55 on 20-Jul-2011 and a 52 week low of Rs. 62.10 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs. 83.80 and Rs. 79.80 respectively. The current market cap of the company is Rs. 9620.00 crore.

The promoters holding in the company stood at 42.64% while Institutions and Non-Institutions held 27.84% and 29.51% respectively.

Mahindra Satyam has entered into strategic partnership with Aspire Zone Foundation, the leading sports city in the Middle East. The global partnership is expected to create end-to-end and innovative Venue and Event Management Systems (VEMS), which includes sporting and non-sporting events.

The partnership allows Aspire Zone Foundation to continue to demonstrate Qatar's emergence as a leader in global sports technology. This VMES platform is an integrated suite of applications that spans across various functional areas of venues and event management including venue bookings, accreditation, transport, volunteer management and finance.

As per the partnership, Aspire Zone Foundation will own the Intellectual Property Rights to the product, while Mahindra Satyam will exclusively provide all the application development and system integration services along with the professional support required.

Further, under the partnership, Aspire Zone Foundation will manage sales within the GCC and Qatar, while Mahindra Satyam will manage the same for rest of the world. Both organizations will jointly develop a Go-To-Market strategy to take the product globally.

Mahindra Satyam is a global business consulting and information technology service company leveraging deep industry and functional expertise, leading technology practices and a global delivery model to help business transform their process and improve performance.

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Mahindra Satyam gains on entering into strategic partnership with Aspire Zone Foundation

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