Mahindra Satyam, a leading global consulting and IT services provider, and Dion Global Solutions Limited, a specialist provider of software products and solutions for capital markets globally, today announced that they have signed a Memorandum of Understanding pursuant to which Mahindra Satyam will acquire a strategic stake in Dion. As a result of this development, Mahindra Satyam has agreed to acquire a significant minority stake by way of fresh issue of equity shares, subject to regulatory and board approvals and satisfaction of other customary closing conditions. The new equity shares will be priced at in accordance with the applicable SEBI regulations.
Dion has a portfolio of cutting-edge solutions and services for global capital markets covering portfolio management, trading, settlement, risk management, analytics, treasury and research services, and services more than 660 clients in 62 countries. The proceeds from the investment under consideration will be utilised by Dion to further enhance its offerings and its geographic reach.
Commenting on the prospects of the possible deal, C P Gurnani, CEO, Mahindra
Satyam said " We are extremely impressed by Dion's products and solutions , , its ability to truly partner with its clients, and most of all, its top-class management team. We are convinced that in time to come, Dion will become one of the foremost software solutions providers to capital markets globally and are keen on participating in Dion's promising future''
Ralph J Home, Managing Director & Global CEO of Dion said "We are delighted to have Mahindra Satyam as a strategic investor in our company. Working with such an esteemed partner and combining the unique skills from both companies will allow us to cooperate on developing new innovative business focused solutions for all tiers of the financial services industry, including many of our common clients. This alliance will help us further expand our solutions capabilities and make inroads to newer markets. "