Wednesday, January 21, 2009

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General Electric gives Satyam vote of confidence

General Electric (GE) has committed to continuing its work with IT services provider Satyam despite the $1bn internal fraud revealed at the Indian IT service provider earlier this month.

The vote of confidence from the world's third largest firm comes a day after US financial services company State Farm Insurance announced it had terminated its work with Satyam.

The companies work together in providing global healthcare infrastructures, with Satyam doing software development.

The announcement backs up Satyam's claim that most of its customers have said they will retain their contracts with the company.


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