Suitors

Dow Jones Newswire is reporting that The Hinduja Group is the latest to come courting with offers to purchase Satyam, whose founder is in jail on charges that he falsified records, creating  “fictitious” profits that existed only on paper.

“There are a lot of synergies between Satyam’s business process outsourcing business and our information technology arm, and we are very much interested in it,” its spokesman Jayaram Ramanathan told Dow Jones Newswires.

Other companies looking to get a piece of the action are Larsen & Toubro Ltd., which currently holds a 12% stake in Satyam, U.S.-based iGate Corp. (IGTE), Indian software firm HCL Technologies Ltd. and B.K. Modi-led Spice Group, the article says.

Interesting tidbits:

Satyam means “truth” in Sanskrit.

Satyam once claimed a full third of the Fortune 500 as clients.

Satyam says that only about 10% of its clients are ditching them as a result of the scandal. No wonder suitors are lining up.