Caterpillar sells market research and analytics operations
LONDON - Construction equipment company Caterpillar has sold its market research and customer analytics arm to Indian IT services company Satyam Computer Services for $60m (£30.2m).
Following the acquisition, Satyam will launch a global market research business and analytics unit to service Caterpillar and other customers. Its services will include customer survey execution, forecasting, segmentation and new product development.
It is planning to have offices in India, Europe, North America, Latin America and Asia Pacific.
B Ramalinga Raju, chairman of Satyam, said: "We were honoured to be named one of Caterpillar's few strategic partners in 2005, and this acquisition further demonstrates the trust both organisations have in each other.
"It also accelerates development of our business transformation capabilities and further enhances our end-to-end business solutions."
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