The Brief

In April 2005, independent investment management consultancy Citisoft was acquired by Satyam, a NYSE-listed global IT solution in a landmark deal for the financial industry. This high-profile event offered a wealth of press opportunities - provided it was dealt with in the right way.

A Cognito client since 2000, Citisoft relied on Cognito to help it deal successfully with its share of the publicity around this event and ensure continuing brand awareness for both Citisoft and Satyam.

The Solution

To ensure that Citisoft and Satyam’s combined strengths were clearly understood by the market, Cognito worked closely with Citisoft, Satyam, and Satyam’s PR agency, Hill and Knowlton, to position the deal and ensure that all parties were communicated with using the same controlled, coordinated messages. A key aim was to transmit the new value proposition - the combination of Citisoft’s high-value relationships with Satyam’s extensive outsourcing capabilities - as clearly as possible. It was also important to handle the coverage as sensitively as possible, to ensure that both brands received maximum exposure.

In order to make the most of the news opportunities afforded by the deal, Cognito organized a press conference, a series of press interviews and a media roundtable. All press activity surrounding the event was geared towards building on Citisoft’s reputation as an industry leader and raising awareness of Satyam as well as the new business model.

The Results

As a result of the project, Citisoft and Satyam achieved coverage in The Boston Business Journal, Financial Times, Financial News and Reuters, as well as many investment management trade publications. The press coverage accurately reflected the benefits to clients of the combined value proposition and Citisoft noted an increase in subsequent media opportunities. Following this success, Citisoft continues to work with Cognito as its business develops and grows.