Oz IT company wants to acquire Stayams local software businessFebruary 24th, 2009 - 12:48 pm ICT by ANI
Melbourne, Feb 24 (ANI): Australias leading software testing consultancy firm, Revolution IT, has reached out to the board of fraud-hit Satyam to acquire its local software testing business.
The Melbourne-based company wrote to Satyams board of directors last month after the Indian firm revealed its cash reserves had been inflated by one billion dollar, The Australian reported.
Satyam did not respond to the inquiry, Revolution IT chief executive Mike Quill said.
Revolution IT also approached Satyams local software testing customers, but has not signed any of them yet.
Meanwhile, Quill is confident about Revolution ITs prospects for the 2009 financial year despite a recent revenue downgrade from 29 million dollar to 25 million dollar.
This result is up from the 16.5 million dollar generated in 2008, Quill said.
He expected the company to increase its staff from 190 to 250 by the end of the year as it prepared to sign a number of deals.
The company could acquire some competitors weakened by the economic downturn, and that would strengthen its Sydney presence, he said.
Revolution IT has invested 100,000 dollar to build a testing and development lab for its newly established SAP testing practice, headed by former Satyam staff member Bala Kalimuthu. (ANI)
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