Bear Stearns selects Satyam as preferred technology vendor

New Delhi: Satyam Computer Services (www.satyam.com) has been chosen as one of the two preferred information technology vendors for a long-term outsourcing relationship by Bear Stearns, a leading US based Fortune 500 and S&P 500 global investment banking, securities trading and brokerage firm.

Bear Stearns was voted the America's most admired securities firm in Fortune magazine's 2002 survey. Bear Stearns carried out a stringent evaluation process that involved a number of the major IT service players before including Satyam in the award of this very important assignment. The assignment involves leading-edge application development and application maintenance work for both mission-critical and legacy systems.

Says Satyam Computer Services president Ram Mynampati: "It's a landmark achievement for Satyam as it reflects recognition of the depth of our financial services competency. Bear Stearns is a highly regarded and globally recognised name in the financial services industry and winning this prestigious assignment, against tough competition, has clearly placed Satyam in a leadership slot in the banking and financial services vertical."

Says Bear Stearns chief information officer Peter Cherasia: "We were extremely impressed with Satyam's abilities to meet our needs. Their technology and service will provide us with valuable solutions to help us be more efficient and competitive on a daily basis."