|
|
Article: Satyam Signs New Multi-Year Service Agreements With TRW Automotive And Northrop Grumman; Satyam to Buy Northrop Grumman's 24% Stake in Joint Venture.
- Article from:
- PR Newswire
- Article date:
- March 17, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Satyam Computer Services Ltd. , a leading global provider of IT services, announced today that it has signed new Master Services Agreements with Northrop Grumman Space & Mission Systems Corp., formerly known as TRW Inc. (NGSM) and TRW Automotive Inc. relating to changes in the continuing relationship with the two companies.
As per the new agreement, Satyam will buy Northrop Grumman Space & Mission Systems' 24% shareholding in Satyam Manufacturing Technologies Inc. (SMTI), the NGSM-Satyam Joint Venture Company for a consideration of US$ 3.5 million. Following the divestiture by NGSM, SMTI will become a 100% subsidiary of Satyam. SMTI was formed in September 2000 ...