-Mahindra Satyam to provide implementation and support services for Fuel Management and Tax automation solutions to FuelQuest across U.S.A, BRIC countries and others.
Hyderabad, India – February 20, 2012 – Mahindra Satyam, a leading global consulting and IT services provider, today announced that it has entered into a global services agreement with FuelQuest, a leading on-demand software and services company for the downstream energy industry. Mahindra Satyam has agreed to provide implementation and support services to FuelQuest as it scales its operations across India, Brazil, China, Russia, U.S.A and other target countries. Mahindra Satyam’s international presence and preeminence in providing outsourced services are the key elements in FuelQuest’s growth strategy.
Mahindra Satyam is already engaged with FuelQuest and supports its growing pipeline of tax automation implementations as well as software support needs. Mahindra Satyam will augment FuelQuest’s team to provide additional onsite or remote implementation and support services with regards to international customers. To scale appropriately with FuelQuest, Mahindra Satyam will establish the FuelQuest Service Center within its Delivery centre in India staffed with experienced software professionals dedicated to delivering world-class fuel management and tax automation services.
Commenting on the prospects of the agreement, BK Mishra, Global Business Head for Energy & Utilities at Mahindra Satyam said, “With more than 70 billion liters of fuel under management and millions of energy-related tax transactions processed yearly, FuelQuest is uniquely positioned to bring its proven fuel management and tax automation solutions into new global markets and we are committed to providing the resources necessary to support FuelQuest’s international expansion”
Matt Tormollen, President and CEO of FuelQuest said, “Mahindra Satyam is a dominant global player in the outsourced services business, and we are excited to have them fill a critical need in our expansion strategy .Mahindra Satyam’s range of services and expertise gives us ultimate flexibility as we grow our solutions and markets.”
CP Gurnani, CEO of Mahindra Satyam said, “This agreement between Mahindra Satyam and FuelQuest marries two market leaders creating a global solution for energy companies to adopt and utilize FuelQuest fuel and tax automation software and services. This exclusive arrangement with Mahindra Satyam will support Fuel Quest’s global expansion plans.”
About Mahindra Satyam
Mahindra Satyam is a leading global business and information technology services company that 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 professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Mahindra Satyam is part of the $14.4 billion Mahindra Group, a global federation of companies and one of the top 10 business houses based in India. The group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, vacation ownership, rural and semi-urban financial services, etc. Mahindra has a significant and growing presence amongst others, in the automotive industry, agribusiness, aerospace, automotive components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel and two wheelers.
Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
For more information, see www.mahindrasatyam.com
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FuelQuest provides on-demand fuel management, tax automation, and compliance solutions for suppliers, distributors, buyers, and traders of petroleum products and other energy commodities. FuelQuest's solutions deliver operational and financial value to over 650 customers. These customers include leading global oil companies, international retailers, shippers, and government entities. FuelQuest's fuel management solutions help customers manage the complexity, regulation, and market volatility for more than 19 billion gallons of gasoline and diesel fuel annually. Its Zytax solutions ensure compliance and accuracy for tens of billions of dollars of energy-related excise taxes per year.
Learn more at www.fuelquest.com.
This press release contains forward-looking statements within the meaning of Section 27A of the 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. Mahindra Satyam undertakes no duty to update any forward-looking statements.