Satyam looks at deals in Asia and Middle East

Written by Reuters | Singapore, May 30: | Updated: May 30 2008, 19:47pm hrs
Satyam Computers Services Ltd, India's No. 4 software services exporter, expects to clinch several deals in Asia and the Middle East over the next three months, and plans to add more engineers in Malaysia and China.

"The outlook for deal closures is very positive in the Middle East and positive in Australia," Virender Aggarwal, the director for Asia Pacific, Middle East, India and Africa, told Reuters in an interview on Friday.

"We are pursuing one deal in Singapore, two in Australia, two to three in India and five to six in the Middle East. We expect to close a handful of these deals over the next three to four months," he added.

Aggarwal said record-high fuel prices had sparked an increase in government and corporate spending in the Middle East.

"The high oil prices have sped up the decision-making process -- we're seeing phenomenal momentum in the Middle East right now."

The value of Satyam's potential contracts in the Middle East range from $10 million to $20 million, while those in Australia are above $30 million, he added.

Satyam, which specialises in business software and offers back-office outsourcing services, also plans to hire more software development engineers in Malaysia and China.

Aggarwal said that by June 2009, the company plans to add 300 engineers in Malaysia, and another 300-400 engineers in China.

Over the next three years, it plans to add 1,500 engineering jobs in Malaysia, bringing the total headcount to 2,000. In China, it plans to increase 1,800 jobs, raising the total to 2,500.

The fastest-growing industries were healthcare, retail, energy and utilities, he added.