Hyderabad: Satyam Computer Services Limited has will acquire a 100-per cent stake in Nitor Global Solutions Limited of the UK, a niche consulting firm providing infrastructure management services (IMS), for up to £2.76 million in an all-cash deal.

The Nitor deal marks the second acquisition in Europe by Satyam, which recorded revenues of $1.46 billion in the fiscal year ended 31 March 2007.

"The acquisition of Nitor is of strategic importance to our business," said Dr. Keshab Panda, head of Satyam European business. "With this acquisition we are confident of achieving rapid growth in our Europe IMS business."

Nitor, which was founded in 2002, posted revenues of $3 million for year ending September 2007. Nitor has expertise in end-to-end solution implementation and program / project management in the IMS. Satyam says the acquisition bring new client relationships with some of the dominant players in the banking, pharma, and telecom and media industry in Europe.

Nick Sharma, Global Head of Satyam''s IMS Business said, "The people at NITOR are seasoned IMS professionals, held in high regard by their Customer community as well as the Alliance community and known for their flawless execution of high end IMS consulting projects. We are confident that their leadership will provide the right impetus for our business in Europe".

"Satyam today serves a very high number of Global Fortune 500 customers in Europe," said Todd Whaley, the managing director, Nitor. "We are confident that we can bring to fore our IMS consulting capabilities to delight these customers and make Satyam''s IMS Business one of the largest and most respected in Europe".

Satyam will merge Nitor into its IMS business. Under all-cash transaction, NITOR will be merged with Satyam''s Infrastructure Management Services (IMS) Group and will catalyse Satyam''s European IMS business growth

The directors of Nitor, Todd Whaley and Stephen Craike will lead Satyam''s IMS business in Europe following the acquisition.

In another development Fujitsu Services has awarded a contract to Satyam to provide IT services to Reuters as part of a 10-year, $1 billion internal information systems transformation programme.

Under the 10-year contract, Satyam will extend its support and development of a large number of core applications, as well as providing managed infrastructure services for desk side support, a global network operations centre and remote infrastructure management. The provision of support and services will be extended across 17,500 Reuters employees based in over 100 countries.

The company has been a premier service provider delivering key services to Reuters for over six years. Under the new contract it will now provide some of its services to Reuters through Fujitsu, which will be delivered from its current Reuters offshore delivery centre in Hyderabad as well as from a new centre in Chennai.

"This is one of the largest multi-year deals signed by Satyam. It is secured on the back of deep and long-term customer relations", commented Dr. Roger Newman, Head of the Company''s Times business verticals in Europe. "We believe that this will deliver substantial benefit to both Reuters and Fujitsu and serve as a model for similar deals in the future."