Rich May News: 2005
April 21, 2005
Rich May Client, Citisoft, Combines Forces With Satyam Computer Services Limited
Citisoft to head Investment Management Division of one of the leading global business and IT providers and one of the fastest growing companies in the World.
Satyam Computer Services Limited, today announced the strategic acquisition of Citisoft, a highly specialized business and systems consulting firm that has focused exclusively on the Investment Management industry since 1986. With multi-national operating presence in London, Boston, and New York, Citisoft has built an enviable reputation as a specialist investment management consulting firm with one of the largest concentration of business consulting expertise in the world.
Citisoft will operate as a subsidiary of Satyam and be a part of Satyam’s Financial Services Group (FSG) which has made significant progress and has been at the forefront of business transformation initiatives over the past two years across the entire value chain in the Securities and Capital Markets Industry ranging from the leading buy-side firms, stock exchanges, settlement and clearing firms and market data research firms.
“The acquisition is destined to enable Satyam to build a unique position and global footprint in the Financial Services sector and, we believe, the power of the brand, network and market experience will create precisely the mix we need. Both the companies share tremendous synergies in corporate values and client focus which will serve as a further springboard for enhancing our focus in business transformation,” commented Mr. B Ramalinga Raju, Founder & Chairman – Saytam.
Commenting on the strategic acquisition Mr. Ram Mynampati, President, Commercial and Healthcare Businesses of Satyam said, “Our accelerated growth and prestigious client base within the securities industry demonstrates our ongoing commitment to enable industry-wide transformation in that Industry. With Citisoft’s world-class expertise and our global delivery capabilities, we are now in a position to effectively deliver a comprehensive and qualitative suite of solutions that will enable us to target for $1 Billion in cost savings through driving operational efficiencies over a five year period for this Industry.”
Managing Director of Citisoft, Daniel P. Houlihan, said he and his company “are delighted to be joining forces with Satyam. In entering into this transaction, we have created a unique model of professional services by combining our 19 years of experience in investment management business and operations consulting with the scale, strength and capability provided by Satyam’s off- and on-shore services. We are now in an unrivalled position to deliver end-to-end business transformation solutions to our clients and the industry.”
About Citisoft
Citisoft is a specialist consulting firm that focuses solely on investment management. With a client base of more than 75% of top 50 global asset managers, Citisoft is the foremost supplier of strategic planning and business consulting services to the institutional and private wealth investment management sector. Established in 1986, Citisoft has the largest pool of investment management expertise of any consulting firm. Citisoft combines analysis, planning and project management methodologies with expert knowledge of asset management business models, processes and technology. Citisoft has a high degree of specialization in areas including straight-through processing, client reporting, performance measurement, decision support, order management, trade execution and outsourcing administration and custody. Citisoft also has a division that is dedicated to providing consulting services for transfer agency.
For more information please visit us at www.citisoft.com
About Satyam
Satyam Computer Services, Ltd. is a global IT consulting services provider, offering a range of expertise aimed at helping customers re-engineer and re-invent their businesses to compete successfully in an ever-changing marketplace. Over 20,000 highly-skilled professionals in Satyam work onsite, offsite, offshore and near shore, to provide customized IT solutions for companies in several industry sectors. Satyam’s ideas and products have resulted in technology-intensive transformations that have met the most stringent of international quality standards. Satyam Development Centers in India, the USA, the UK, the UAE, Canada, Hungary, Malaysia, Singapore, China, Japan and Australia serve over 370 global companies, of which 144 are Fortune Global 500 corporations. Satyam’s presence spans 46 countries, across six continents.
For more information visit us at www.satyam.com
About Rich May
Rich May’s diverse practice embraces the organization and operation of business ventures, venture capital, private placements, hedge funds, public offerings, technology licensing, mergers and acquisitions, contracts, joint ventures, internet and e-commerce law, employee relations, intellectual property, litigation and dispute resolution, energy, telecommunications, public utilities, wealth planning and real estate. Rich May provides superior legal and strategic counsel through its extraordinary commitment to clients’ success, outstanding professional competence and straightforward ability to communicate. Rich May embraces an entrepreneurial spirit and maintains a mission execution culture that distinguishes Rich May from other law firms.
Rich May combines the stability and experience of one of Boston’s oldest preeminent law firms with the innovative spirit and energy of a venture catalyst intensely focused on serving high-tech entrepreneurs, emerging companies and investors in New England and throughout the United States.
For more information, visit www.richmaylaw.com.
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