Articles about Satyam

Sources: Nutanix poised to gobble PernixData

Exclusive Four independent sources say hyper-converged poster child Nutanix is buying hypervisor flash-cacher PernixData, thus gaining crucial technology to speed up its appliances. A Nutanix spokesman told us: "No comment." A PernixData spokesperson added: "We are not commenting at this time." A PernixData insider told The Register: " …
Chris Mellor, 01 Jul 2016
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Sales layoffs at PernixData: Flogging or IPO on the way?

+Comment Things can get tight, tense and twisted at startups getting close to IPO or acquisition, and management can get hyper-focused on the outcome it wants as issues mount. That seems to be happening at PernixData. After news broke of layoffs at the hot clustered hypervisor-caching startup last week, we have learned more of the high …
Chris Mellor, 11 Aug 2015
Exit sign. Pic:  Lukas Kästner

Sales veep, staff log-off from cluster-cache upstart PernixData

PernixData has lost Ted Stinson, its veep of worldwide sales, and laid off up to 16 people in its North American channel and inside sales operations. The high-flying upstart touts clustered caching technology at the VMware hypervisor level, which speeds up virtual machine execution. PernixData was founded in 2012 by CEO Poojan …
Chris Mellor, 04 Aug 2015
Poor people in India queue for a political party-sponsored medical check. Pic: Welfare Party of India

Tech Mahindra posts profit warning: The end for Indian outsourcing?

Indian outsourcer Tech Mahindra, which bought disgraced rival Satyam in 2012, has issued a profit warning — the first sign of trouble in the buoyant market for some time. In a regulatory filing to the Bombay Stock Exchange, it blamed a "seasonally weak" mobility business for dragging down first-quarter revenue, with shares …
Kat Hall, 29 Jun 2015

Light-fingered Satyam founder Ramalinga Raju jailed for seven years

The former chairman of Indian outsourcing firm Satyam Computer Services has been jailed for seven years for his part in a $1.4bn (£953m) accountancy fraud scandal. The Special Central Bureau of Investigations Court in Hyderabad sentenced B. Ramalinga Raju and eight others - including auditors Subramani Gopalakrishnan and Talluri …
Kat Hall, 10 Apr 2015

Satyam Computing Services founder jailed over $1.4 BILLION fraud

The founder of former Indian outsourcing biz Satyam Computer Services has been jailed for six months for cooking the company's books to the tune of $1.4bn. The case has been rumbling on since Ramalinga Raju intially admitted the fraud in 2009 – a scandal that has been described as "India's biggest corporate fraud case", …
Kat Hall, 10 Dec 2014
Pernix Data novel

Diablo locks down 'key' memory channel storage patent

Diablo Technologies, the supplier of flash latency-lowering Memory Channel Storage IP to SanDisk/SMART, has been awarded a patent, U.S. patent No. 8,713,379, entitled a “System and method of interfacing co-processors and input/output devices via a main memory system”, which t describes as a "key technology". The new patent …
Chris Mellor, 04 Aug 2014

Parting the clouds for IT admins: We chat to CloudPhysics

A company's IT Infrastructure is crucial to its survival and success, which is why most companies invest heavily in that area to reduce risk and increase performance. Despite these investments, the complex and dynamic nature of IT infrastructure environments means that most companies do not have a complete picture of their IT …
Micron PCI-E Flash

Hey, how'd that guy get to be a BAZILLIONAIRE?

Sysadmin blog Ready to hear about the next IT startup niche? It's an emerging market called "host-based caching", and you might wish to pay attention if you'd like to understand how a few people got stupidly rich a few years from now. The Cliff's notes version of host-based caching is that it turns flash drives inside your virtual hosts into …
Trevor Pott, 18 Oct 2013
PernixData FCP

Quantum sales boss rocks up at PernixData

Quantum's recently resigned sales supremo Ted Stinson has joined virtualisation startup PernixData to head up its sales operation. Stinson, who left disk/tape data protection and file management supplier Quantum earlier this month, is excited about PernixData's "A-plus investors, exceptional founding team and very strong beta …
Chris Mellor, 22 Jul 2013
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Stealthy storage startup PernixData picks up VMware guru

Early-stage US start-up PernixData has decided it needs a European evangelist and persuaded VMware's Frank Denneman to jump ship. Denneman is, or rather was, a senior architect in technical marketing at VMware, based in the Amsterdam area. He has co-authored three VMware-focussed technical books, and is widely acclaimed as a …
Chris Mellor, 30 Apr 2013
PernixData VSA

Storage upstart tells El Reg: Our software's NOT a VSA

Brouhaha Satyam Vaghani, the co-founder and chief technology officer of PernixData took exception to El Reg's characterisation of the startup's FVP software, which virtualises flash storage attached to virtualised servers and creates a single pool of block-addressable flash capacity across those servers. From the small amount of …
Chris Mellor, 07 Mar 2013
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Which sneaky storage upstart is drilling into software-network craze?

PernixData is a startup in stealth mode developing a data platform for the software-defined data centre (SDDC). Stealth mode means the company has talked to angel or seed investors about its basic proposition and the money people like it well enough to pump in initial startup cash. A founding company organisation is then set …
Chris Mellor, 11 Jan 2013
The Register breaking news

Pretty returns to telco land with Mahindra Satyam

India’s IT outsourcing giant Mahindra Satyam has resurrected former high profile Telstra and Optus executive Ted Pretty, placing him in the chairman’s role for its newly fleshed out Australia and New Zealand operations. Signalling a new push in A/NZ, Pretty has been tasked to drive Mahindra Satyam and Tech Mahindra strategy …
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Mahindra Group seizes on Aus opportunities

Australia’s telecommunications, mining and financial services markets have proven to be a key lure for India’s Mahindra Satyam and Tech Mahindra to significantly ramp up their local operations. In March, Mahindra Satyam and Tech Mahindra announced the finalisation of the merger between the two companies. 12% of global revenue …
The Register breaking news

Tech Mahindra to swallow Satyam in BILLION dollar deal

The wonderful world of outsourcing is about to get a little bit smaller after Indian tech giants Tech Mahindra and Mahindra Satyam announced their intention to merge, creating India’s fifth-largest IT and outsourcing group by revenues. In reality it is Tech Mahindra in the driving seat, as the outsourcing giant bought a …
Phil Muncaster, 22 Mar 2012
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Satyam pays $10m to end fraud probe

Indian reseller and outsourcer Mahindra Satyam and its auditor PwC have paid a total of $16m to end a US investigation into fraud charges. The Securities and Exchange Commission said yesterday that failings by five PwC Indian subsidiaries allowed the massive fraud to go undetected for years. It said the problems were not …
John Oates, 06 Apr 2011
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Oz bank meltdown due to file corruption cock-up

The five-day mainframe bank system meltdown at the National Bank of Australia (NAB) was due to a corrupted file on an IBM mainframe system that was being upgraded. It's reported that staff attempted a mainframe upgrade on Wednesday 25 November, and this failed to complete. It was reversed and this was when, it appears, ongoing …
Chris Mellor, 29 Nov 2010
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Satyam boss ordered back to jail

Ramalinga Raju, disgraced boss of Satyam, has had his bail cancelled by the Indian Supreme Court ahead of hearings on charges of massive accounting fraud at the reseller. Raju, his brother and and four other ex-Satyam staff implicated in the scandal, must return to prison by 8 November. The court found that because most of …
John Oates, 27 Oct 2010
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Satyam financials detail £1bn in dodgy transactions

Satyam today issued its first results since becoming engulfed in an accounting scandal early last year that almost broke the Indian services firm. The scandal erupted when B Ramalinga Raju resigned in January 2009, after writing an extraordinary letter to directors admitting inflating profits at the firm by almost a billion …
Joe Fay, 29 Sep 2010
homeless man with sign

Satyam investigation jacks up fraud bill by 40 per cent

The Satyam Computer Services scandal has flared back into life with allegations that the fraud perpetuated at the firm was 40 per cent bigger than previously thought. India's Central Bureau of Investigation released a supplementary charge sheet today which claims that the ten people it says were behind the scam inflated revenues …
Joe Fay, 25 Nov 2009
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Rebrand ahoy for tainted Satyam

Indian outsourcer Satyam is to rebrand itself in order to draw a line under the revenue-boosting shenanigans of its ex-chief executive and founder, who is still awaiting trial. Ramalinga Raju admitted falsely inflating Satyam revenues by about $1bn. He is still awaiting trial along with two auditors from PwC accused of signing …
John Oates, 23 Jun 2009
hands waving dollar bills in the air

Indian outsourcers prepare for US trade war

India’s outsourcers are girding their loins for a trade war with the US over Barack Obama’s attack on US companies who export jobs and hide profits overseas. President Obama outlined a plan last month to encourage US firms – especially tech outfits – to stop spinning jobs overseas. The idea of “US jobs” being done by cheaper …
Joe Fay, 10 Jun 2009
fingers pointing at man

Tech Mahindra seeks approval for Satyam takeover

Tech Mahindra, the successful buyer of Satyam, has asked European and US competition authorities to approve the takeover. Sources told the Wall Street Journal that Tech Mahindra filed for regulator approval in Europe on Monday and would do the same for US regulators on Tuesday. Four Tech Mahindra executives, including MD …
John Oates, 21 Apr 2009
The Register breaking news

BT health problems will cost more jobs

BT shares fell sharply this morning on rumours that it is to cut another 10,000 jobs and take a massive hit on the cost of its NHS work. The telco is preparing to cut 10,000 more jobs - alongside the 10,000 which have already gone. It will also use next month's results announcement to write £1.5bn off the value of ongoing …
John Oates, 14 Apr 2009
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Satyam sold to BT-backed Indian firm

Tech Mahindra looks set to seize control of Satyam - the almost terminally troubled Indian outsourcer. Tech Mahindra has paid $351m for a 31 per cent stake in the firm - on top of the 31 per cent it already owned. This gives a rough value for Satyam of $1bn, a good premium on its current share even if it is only a fraction of …
Team Register, 14 Apr 2009
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Race heats up for Satyam

The race to buy Satyam is heating up and the board could make a decision as early as this Monday. There are believed to be four bidders left in the race to buy the troubled outsourcer. These include building firm Larsen & Toubro, Tech Mahindra, Cognizant Technology and private equity investor Wilbur Ross. The four will be …
John Oates, 08 Apr 2009
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Indian Feds arrest more for Satyam fraud

The Central Bureau of Investigation - India's federal investigators - have arrested three of Satyam's financial staff they believe were involved in the fraud. The beancounters are suspected of helping Satyam's founder Ramalinga Ramu forge documents to provide evidence of inflated revenues to auditors. Ramu wrote a bizarre …
John Oates, 07 Apr 2009
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Satyam races to find buyer ahead of Indian election

Satyam hopes the sale of its majority stake will be completed before the Indian general election which starts in mid-April. The company has a shortlist of bidders for its business but they are likely to have to bid blind for the firm - they will be given access to Satyam's books, or rather a "data room", but the full …
John Oates, 31 Mar 2009
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Outsourcing prices on the wane, says Gartner

If IT vendors think that their services businesses are going to save their cookies this year, they may have another thing coming. According to a report just released by the analysts at Gartner, prices on infrastructure outsourcing services are expected to drop this year and next by anywhere from 5 to 20 per cent on new deals. …
fingers pointing at man

Satyam shortlist gets even shorter as iGate bails

The shortlist of possible bidders for Satyam is likely to be finalised this week, after the companies made their final "expressions of interest". There is no official statement from the company, but the board is believed to have met over the weekend for final discussions. Successfully shortlisted firms will then get full …
John Oates, 23 Mar 2009
The Register breaking news

Microsoft dumped after India PM's emails go AWOL

The office of the Indian Prime Minister has reportedly ditched Microsoft's Outlook for open-source email following a computer virus that caused a massive breakdown in communications. The PMO has dumped Outlook Express for SquirrelMail, it has emerged, following an outage that saw emails go missing and unanswered during a three- …
Gavin Clarke, 17 Mar 2009
globalisation

Satyam loses Oz contract

Australian telco Telstra is pulling the plug on a A$32m contract with Satyam and handing the work to EDS. The telco's annual applications support contract will not be renewed, despite a visit from Satyam's chief executive A S Murty last week. Telstra refused to confirm the move, revealed by the Australian, because it does not …
John Oates, 16 Mar 2009
homeless man with sign

Satyam board mulls buyers shortlist

Satyam's government-appointed board of directors met today to look at bids received for the company - the deadline for registering interest was last night. Directors have appointed former Chief Justice of India SP Bharucha to oversee the process. Interested bidders have until next Friday to provide proof of funds totalling at …
John Oates, 13 Mar 2009
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Satyam gets greenlight for sale

Indian outsourcer Satyam has won government approval to save itself from bankruptcy by selling itself off. In December Satyam all but imploded - the World Bank banned it from future bids because of bribery allegations, and then company chairman B Raju Ramalinga admitted falsifying accounts for several years by adding $1bn to …
John Oates, 06 Mar 2009
fingers pointing at man

Satyam sale possible before probe ends

Troubled Indian outsourcer Satyam is asking for formal bids from potential buyers before the final details of its fraud investigation are known. The company, which is the country’s fourth largest outsourcing outfit, wants to invite bids for a potential sale of its business as soon as regulatory approvals are completed. “While …
Kelly Fiveash, 02 Mar 2009
The Register breaking news

HP printer, server, and PC sales in double digit dip

Wall Street has been waiting on the edge of its window ledge seat to see how IT giant Hewlett-Packard performed during its first fiscal quarter of the year. And they can finally relax. HP reported sales of $28.8bn, up 1.2 per cent, and net earnings came in at $1.85bn, down 13.1 per cent compared to the year-ago quarter. Just …
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Satyam finds a boss and money

Satyam's board of directors took two days to decide, but has now appointed a new CEO to replace Ramalinga Raju, who is still in jail awaiting trial for an alleged billion-dollar fraud. A S Murty, a 15-year Satyam veteran, starts as CEO immediately. He is informally known as ASM and previously worked at Tata. Board member …
John Oates, 05 Feb 2009
fingers pointing at man

India could change takeover law to save Satyam

Regulators from the Securities and Exchange Board of India (Sebi) have won the right to question the Raju brothers and other Satyam staff. Ramalinga Raju and his brother Rama and the firm's CFO are all still in custody. Ramalinga wrote an explosive letter admitting a $1bn fraud, although he insisted he did not benefit …
John Oates, 03 Feb 2009
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PwC auditors fingered for Satyam fraud

Indian police have accused two PricewaterhouseCoopers accountants of colluding and conspiring with company founder Ramalinga Raju to create false accounts for Satyam. The two auditors are in police custody but have not yet been charged. "During interrogation [the auditors, Subramani Gopala Krishnan and Talluri Srinivas] …
John Oates, 30 Jan 2009
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Satyam finds bankers to find it funding

Indian outsourcer Satyam has appointed two investment banks to help it find long term funding. Avendus and Goldman Sachs are talking to banks and are dealing with immediate operating expenses. Satyam has also lined up cash for January salaries from money received. Board member T N Manoharan said Satyam had received proposals …
John Oates, 28 Jan 2009
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Satyam shortlists bosses and banks

Satyam's board of directors is expected to announce a new CEO and CFO this week, and is also close to finding short-term funding. Last week they said the list had been narrowed down to three names. The group also expects to have funding in place by Wednesday. The board meets tomorow for final discussions but said the firm's …
John Oates, 26 Jan 2009
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Satyam boss 'invented' thousands of staff

Satyam founder Ramalinga Raju added 13,000 invented employees to the firm's payroll so he could siphon off their wages, Indian prosecutors have claimed. Raju allegedly funnelled the money off through family members and used it to fund more than 400 land deals. Satyam claimed to have 53,000 employees, but in reality this was …
John Oates, 22 Jan 2009
fingers pointing at man

Satyam investigators start to chase missing money

The Indian government suspects Satyam's disgraced former chairman Ramalinga Raju may have diverted money into a maze of subsidiary firms. Minister of State for Company Affairs Prem Chand Gupta told the FT that there had clearly been serious irregularities in the firm's figures: "On the face of it the Registrar of Companies …
John Oates, 19 Jan 2009
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Indian government will not bail out Satyam

The Indian government has ruled out any bailout of struggling outsourcer Satyam. Ashwani Kumar, minister of state for industry, told The Times of India: "This government is not going to directly or indirectly subsidize wrong-doing and fraud in Satyam." He said the government would do what it could to save jobs at Satyam, and …
John Oates, 15 Jan 2009
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Satyam rushes into arms of new auditors

Troubled outsourcer Satyam has chosen two new auditors to help management find out just how bad its financial situation is after founder and chairman Ramalinga Raju admitted he had overstated profits and cash by $1bn. KPMG and Deloitte were named in several reports as the new auditors, although a spokeswoman for Deloitte …
John Oates, 14 Jan 2009
For Sale sign detail

Indian police raid PWC in Satyam probe

Police raided PricewaterhouseCooper's offices in Hyderabad today in connection with the ongoing investigation into the alleged billion dollar fraud at outsourcer Satyam. PWC audited Satyam's accounts and was apparently unaware of the large holes they contained. The firm's chairman admitted last week to cooking the books over …
John Oates, 13 Jan 2009
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World Bank confirms Wipro is on contractor blacklist

The World Bank has revealed the full list of companies banned for bidding for future contracts because of alleged malpractice. Troubles at Satyam took a turn for the worse when it was revealed on Christmas Eve that it was banned from applying for World Bank contracts for eight years. Now it has emerged that Wipro, India's …
John Oates, 12 Jan 2009
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Indian government holds Satyam execs in jail ahead of trial

Ramalinga Raju, his brother, Rama, and Satyam's chief financial officer Vadlamani Srinivas are all in prison this morning after being arrested and charged with conspiracy and forgery offences connected to the $1bn fraud at the Indian outsourcer. The three men will stay in custody until a trial, scheduled to start 23 January. …
John Oates, 12 Jan 2009
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Police probe Satyam over $1bn blackhole

Indian police have begun an investigation into Satyam following the resignation of its chairman and founder B Ramalinga Raju and his apparent confession to accounting fraud. Raju stepped down on Wednesday, sending the board an extraordinary resignation letter admitting to years of puffing the figures at the services giant he …
John Oates, 09 Jan 2009