Mahindra Satyam to acquire stake in Dion Global Solutions
Strategic step to assist Mahindra Satyam in increasing its offering for the international financial markets.
Mahindra Satyam announced the signing of a memorandum of understanding (MoU) to acquire a strategic stake in Dion Global Solutions.
Dion is a global provider of software products and solutions for capital markets. The company has a portfolio of solutions and services for global capital markets covering portfolio management, trading, settlement, risk management, analytics, treasury and research services, and services more than 660 clients in 62 countries.
C P Gurnani, CEO, Mahindra Satyam said that they were impressed by Dion’s products and solutions, and its ability to partner with its clients. “We are convinced that in time to come, Dion will become one of the foremost software solutions providers to capital markets globally and we are keen on participating in its promising future,” he said.
Mahindra Satyam has agreed to acquire a significant minority stake by way of fresh issue of equity shares. The new equity shares will be priced at in accordance with the applicable SEBI regulations. The transaction will be subject to regulatory and board approvals and satisfaction of other customary closing conditions.
The proceeds from the investment under consideration will be utilized by Dion to further enhance its offerings and its geographic reach.
Ralph J Horne, Managing Director and Global CEO of Dion said that this alliance will help in expanding the company’s solutions and make inroads to newer markets.
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