Mahindra Satyam to acquire stake in Dion

Mahindra Satyam on Friday announced its decision to acquire a "significant" minority stake in Dion Global Solutions—an IT services company, through fresh issue of equity shares. Malvinder Mohan Singh and Shivinder Mohan Singh are the promoters of Dion Global and the firm has an array of software solutions for the financial and capital markets.

Mahindra Satyam on Friday announced its decision to acquire a "significant" minority stake in Dion Global Solutions—an IT services company, through fresh issue of equity shares. Malvinder Mohan Singh and Shivinder Mohan Singh are the promoters of Dion Global and the firm has an array of software solutions for the financial and capital markets.

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"We are convinced that in time to come, Dion will become one of the foremost software solutions providers to capital markets globally and we are keen on participating in Dion's promising future," said CP Gurnani, CEO, Mahindra Satyam.

Though the companies refused to reveal the deal size, analysts pegged the deal at Rs 40-Rs 45 crore, with Mahindra Satyam picking up 15% stake in Dion Global.

Dion Global has 660 clients in 62 countries, and is considered of strategic value for expansion.