Satyam sets aside $1 billion as buyout kitty

Mumbai: Indian software services firm Satyam Computer Services Ltd has set aside $1 billion to buy companies, a newspaper said on Saturday.

“Any acquisition we make should have a lot of synergy with what we are doing,” Chairman B. Ramalinga Raju was quoted as saying in the Business Standard, which has no supporting official comments on the buyout kitty.

Earlier, New York-listed Satyam said it was negotiating eight outsourcing deals worth $20-25 million each in engineering designs.