Mahindra Satyam to acquire minority stake in Dion Global

Leading global IT and communications services provider Mahindra Satyam will acquire minority stake in Dion Global Solutions Ltd at an investment of Rs.35 crore, the companies said Friday in a joint regulatory filing.

Dion Global Solutions Ltd specializes in development of software products for the capital markets.

“Mahindra Satyam has agreed to acquire a significant minority stake by way of fresh issue of equity shares, subject to regulatory and board approvals and satisfaction of other customary closing conditions,” said the filing.

“The new equity shares will be priced at in accordance with the applicable SEBI (Securities and Exchange Board of India) guidelines,” it added.

The proceeds from the investment under consideration will be utilised by Dion to further enhance its offerings and geographic reach.

At the Bombay Stock Exchange, the shares of Satyam Computer were 0.07 percent lower to trade at Rs.72.30.