Monday, January 12, 2009

Satyam : The story so far

Success @ satyam took a new definition in 2009. I am perplexed about the reason due to which the fraud was committed by Ramalinga Raju. Lets track its growth story.

1987 - Incorporated as private limited company

1991- Offshore software project with John Deere & Co.—Satyam’s first Fortune 500 customer—announced
- Recognized as a public limited company; debuts on the Bombay Stock Exchange (BSE)
- IPO oversubscribed by 17 times

1993- Awarded ISO 9001 Certification

1999- Assessed at SEI CMM® Level 5
- Satyam Infoway (Sify) becomes the first Indian Internet company listed on NASDAQ
- Presence established in 30 countries


2000- Associate count reaches 10,000
- Satyam receives National HRD Award from Indian government
- Dataquest names Ramalinga Raju "IT Man of the Year"

2001- Satyam becomes world’s first ISO 9001:2000 company to be certified by BVQI
- Listed on the NYSE (SAY)

2002- Satyam BPO launched in Hyderabad

2005- Largest global development center outside India (in Melbourne) begins operation
- Citisoft and Knowledge Dynamics acquired

2006- Revenue exceeds US$1 billion
- Sets up the first “Global Innovation Hub” in Singapore
- Sets up operations in Guangzhou, China

2007- Becomes the Official IT Services Provider for the FIFA World Cups, 2010 (South Africa) and 2014 (Brazil)
- B. Ramalinga Raju, founder and chairman of Satyam, was named the "Ernst & Young Entrepreneur of the Year "
- Becomes the first Asian company to feature in the Training Magazine’s list of Top 125 companies for learning

2008- Revenue crosses US $ 2-billion mark
- Adopts new tagline “Business Transformation. Together.”
- Becomes the first company to launch a secondary listing on Euronext Amsterdam under NYSE Euronext’s new “Fast Path” process for cross listings in New York and Europe
- Becomes the first company to be invited by the National Stock Exchange (NSE) to ring the opening bell

And the U turn

2009 - Ramalinga Raju admits to committing a Rs 7000 crore fraud
- Ramalinga Raju named conman of the year
- Ramalinga Raju sent to Judicial custody