Updated from 11:04 a.m. EDT

IT outsourcing firm iGate ( IGTE) has turned up the pressure on IBM ( IBM) and Hewlett-Packard ( HPQ) to acquire disgraced Indian tech shop Satyam Computer, according to reports.

Fremont, Calif.-based iGate, which confirmed last week that it was exploring a majority position in Satyam, has been negotiating with private equity firm TPG Capital as a possible investment partner, according to a report Sunday by Dow Jones.

The report also mentions that India-based competitor Tech Mahindra is interested in a possible deal. In addition to IBM and H-P, the list of potential bidders or financing partners also reportedly includes Fidelity Investments and buyout shop KKR.

Satyam has been forced to sell a majority stake in its business in the wake of a devastating alleged book-cooking scheme by founder Ramalinga Raju. In January, Raju, who resigned, revealed that the scandal involved years of inflated profit reports and a bogus cash pool of $1 billion.

Observers say rival technology service contractors like IBM and H-P would be keen to acquire Satyam, not so much for its business operations, but more for its roster of worldwide clients.

iGate CEO Phaneesh Murthy has said that a possible bidding price for Satyam would be about 90 cents a share, according to TV reports Monday. The bid would be well below the current price.

Satyam shares were down 4.7% to $2.83 in recent trading.

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