Satyam and Tyfone Partner to Transform Mobile Financial Services
Hyderabad, India, and Portland, Ore., July 07, 2008: Satyam Computer Services Ltd. (NYSE: SAY), a leading global consulting and IT services provider, announced today that it has entered into an alliance with Tyfone, a global provider of mobile financial services, infrastructure and fully-integrated mobile payments capabilities. The companies will collaborate to provide businesses with an even greater edge when competing in the mobile financial services sector. The alliance combines Satyam’s deep domain expertise and system integration experience with Tyfone’s complete mobile financial services infrastructure, and will provide institutions with enhanced solutions and technology.
- Partnership to help clients thrive in ever-evolving mobile financial services sector
Tyfone’s technology suite currently encompasses an independent, issuer-branded solution for secure mobile banking, mobile contactless payments, mobile retail, mobile remittance, and mobile identity management services, enabling institutions to communicate quickly with their customers via mobile phones. By joining with Satyam, Tyfone will be able to provide comprehensive mobility solutions that include the best system integration, product customization, and end-to-end lifecycle services available on the market today.
“We chose to partner with Tyfone because their platform is issuer-centric, enabling issuer-branded mobile financial services to have complete lifecycle control over the mobile financial services offering,” said Satyam Co-Founder and CEO B. Rama Raju. “Tyfone provides a combination of value and differentiation across the spectrum of mobility, including device and carrier independence for Near-Field-Communication-based contactless payments. Tyfone has successfully developed a superior product and made it simple for customers to adopt.”
The vision of the partnership between Satyam and Tyfone is to provide best-in-class product solutions and implementations to clients, with end-to-end lifecycle management and a focus on speed-to-client benefit.
“Having Satyam as a partner, with its global reach, deep domain expertise and vast experience in system integration and consultancy services provides our customers with a sustainable competitive advantage,” said Tyfone Chief Executive Officer Tom Spitzer. “Satyam has the same razor-sharp understanding of customer needs that we do, which makes our partnership a natural fit.”
Satyam (NYSE: SAY), a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in 20* industries and 63* countries.
Satyam leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company’s 51,127* professionals excel in engineering and product development, supply chain management, client relationship management, business process quality, business intelligence, enterprise integration, and infrastructure management, among other key capabilities.
Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve 654* clients, including more than one third of the Fortune 500. For more information, see www.satyam.com.
*As of March 31, 2008
Tyfone is the only provider of mobile financial services infrastructure that encompasses a comprehensive mobile banking solution along with contactless mobile payment capabilities and fully integrated security features. Thanks to Tyfone’s one-of-a-kind innovation, the universe of NFC-capable mobile phones will be dramatically expanded as a result of patent-pending breakthroughs that combine an NFC chip, a miniature antenna, and security/authentication features on Flash memory card that works in any standard mobile phone memory slot.
Tyfone connects money and mobility via a highly secure, scalable and flexible mobile financial services infrastructure that is tailored to meet the evolving needs of financial institutions and their customers. With its modular design and experienced professional services team, Tyfone is uniquely qualified to deliver issuer-centric solutions that offer turnkey mobile banking services and fully-integrated contactless payments capabilities. With its patent-pending memory card technology, Tyfone enables device- and carrier-independent mobile services under the issuer’s own brand, setting the stage for our customers to define the future of money and mobility. To discover why Tyfone is becoming the partner of choice for mobile technologies to the world’s leading financial institutions & financial technology providers, please visit www.tyfone.com.
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This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading “Risk Factors” in our report on Form 6-K concerning the quarter ended December 31, 2007, furnished to the United States Securities Exchange Commission on January 28, 2008 and the other reports filed with the Securities Exchange Commission from time to time. These filings are available at http://www.sec.gov.
This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Satyam and that will contain detailed information about Satyam and its management, as well as financial statements.