Mahindra Satyam on Friday announced the signing of a memorandum of understanding to acquire a strategic stake in Dion Global Solutions that has a portfolio of cutting-edge solutions for the international financial markets.
Following the development, Mahindra Satyam has agreed to acquire a significant minority stake through fresh issue of equity shares that would be priced in accordance with the regulations of the Securities Exchange Board of India. The transaction would be subject to regulatory and board approvals and the satisfaction of other customary closing conditions.
Mahindra Satyam CEO C.P. Gurnani said they were impressed with Dion's offerings and its ability to partner with clients. He said Dion would become the leading software solutions providers to the capital markets globally and that Mahindra Satyam was keen on participating in its promising future.
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Dion's Global CEO, Ralph J. Horne said the alliance would help them further expand their solutions capabilities and make inroads to newer markets.