| By Maureen O'Gara |
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| March 9, 2009 10:30 AM EDT |
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3,571 |
According to the Wall Street blog, The Motley Fool, both IBM and Oracle have been among the flock of 50-odd companies that have responded to the possible sale of Indian consulting/outsourcing biggie Satyam Computer Services, whose founder and subsequently ex-CEO Ramalinga Raju, now in jail, confessed to cooking the books for years a couple of months ago.
The Fool, which points out that such an acquisition would be a natural move for IBM but a new adventure for Oracle, suggests that HP would also be an "obvious suitor."
Now down ~95%, Satyam's market cap currently amounts to about $441 million.
Goldman Sachs and Indian investment bank Avendus were hired to sort the bids and make a match but any deal is expected to take a couple of months.
The government reportedly has dibs on who with. It could be one company or a group of them.
Anybody bidding is flying blind since the financials haven't been restated yet, an exercise that could take a long time. Satyam's Price Waterhouse auditors are cooling their heels in jail too.
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.
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