Satyam Unveils $38.7m UK Purchase.
Indian outsourcing companies are acquiring foreign companies to make up for their shaky revenues.
India's Satyam Computer Services (SCS) recently purchased Citisoft, a privately owned UK-based consulting firm that deals in the investment management sector. The company's first-ever acquisition cost $38.7 million, and was paid in an all cash transaction.
Aside from compensating the company's falling revenues, SCS' move will help them to enter the vertical segments like financial services, pharmaceuticals and others.
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