NGSM, which was formerly known as TRW Inc, currently holds a 24% stake in the joint venture vehicle Satyam Manufacturing Technologies Inc that was formed in September 2000 to provide application development and maintenance to companies within the former TRW group.
Through the JV, Secunderabad-based Satyam claimed it won what was then the largest publicly announced contract signed by an Indian offshore developer to date, a five-year $200m project with TRW signed in December 2000. As part of the deal, Satyam and TRW were to provide IT engineering consulting and systems integration services around ERP, supply chain, IT systems and e-business application integration.
NGSM said it was selling its stake in the JV because the TRW business was being split into distinct entities with separate shareholding patterns. Satyam also attempted to clarify its relationship with the former TRW following its takeover by Northrop Grumman last year. It has now signed a five-year, $100m services agreement with TRW Automotive, which was sold by Northrop to Blackstone Group, and Satyam also announced a new three-year deal with NGSM.
Source: Computerwire
