Global IT firms Hewlett-Packard (HP) and Computer Sciences Corporation (CSC) are evaluating the possibility of acquiring a majority stake in the fraud-hit Satyam Computer Services. Besides, domestic companies like L&T and Spice Group have reconfirmed their interest in the beleaguered software firm. Earlier, on Monday (9th March), Satyam announced the timeline for a strategic sale process exactly two months after the Rs 7,000 crores scam was exposed.

 

However, a few Indian companies such as Hinduja Group and Tech Mahindra are still undecided, although they had shown some initial interest in Satyam. But it is highly expected that, both the companies may decide to stay out because of lack of adequate information. Some days earlier there were also rumors that, IBM may bid for Satyam. But a media report said that, IBM may stay out of the bidding process because the company already has a significant off-shore presence, particularly in India.

 

In contrast to IBM's position, HP could be eyeing Satyam to create a much bigger offshore delivery business. HP has already acquired EDS in 2008 to compete more effectively with rival IBM in the global software services market. From such perspective, it is also expected that CSC could be interested in Satyam's strategic sale. However, at present the two global giants are evaluating the possibilities and it is not known if they will submit a formal offer.