It was inevitable, one could say. Infosys Technologies’ acquisition of IT consulting firm Lodestone Management Consultants finally answers a question journalists and analysts have never tired of asking the company. The company has a mountain of cash that keeps growing over the years; at last count it had reached $3.2 billion or Rs 17,760 crore as of June 30, 2012. But it has never made a large acquisition, leading to questions on whether it is being too conservative. Those questions have some answers now. Continue Reading →
Information Technology
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Hinduja Global acquires On-Line Support, pays 1.2 times sales
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Hinduja Global Solutions, a business process outsourcing company with Rs 1,070 crore revenues in 2010-11, has acquired On-Line Support Inc, a Canadian outsourcing company. It will pay Canadian $74.85 million dollars or about Rs 350 crore to acquire On-Line, giving it a business with about Rs 295 crore in revenues in 2010-11. This is a significant acquisition for Hinduja Global, as this acquisition would have added about 28% to its revenues in 2010-11, notionally speaking.
Filed under: Companies, Information Technology, Top News, BPO, Hinduja Global Solutions, M&A
3i Infotech sells Regulus and J&B Software to Cerebrus for $137mn
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3i Infotech has decided to sell its US-based transaction services business to private equity firm Cerebrus Capital Management L.P for $137 million or about Rs 620 crore. The company will sell its US billings and payments unit, consisting of Regulus Group and J&B Software to an affiliate of Cerebrus.
Filed under: Companies, Information Technology, Top News, 3i Infotech, Cerebrus, Companies International, M&A
R Systems acquires Computaris, adds 23% to sales
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R Systems International, a software company with revenues of Rs 320 crore, acquired Computaris International, a UK-based telecom software services company. It will pay £9 million or about Rs 70 crore to buy the company, with about half the sum being paid upfront and the remaining being paid over a period of two years, tied in to performance. The company’s share price was up by about 6% at the time of posting.
Filed under: Companies, Information Technology, Quick News, Telecom, Companies International, R Systems
Wipro’s Girish Paranjpe and Suresh Vaswani quit, ending joint CEO structure
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There were always questions on whether two men –or women- can co-exist at the top. One more answer to that never ending debate was added by Wipro. In 2008, Wipro appointed two people, Suresh Vaswani and Girish Paranjpe at the helm, as joint chief executive officers. This debate of joint leadership is best exemplified in large global corporations, with large operations in two continents, notably of Anglo-Saxon origins. Unilever Plc is another example which moved to a single line of command in recent years.
Filed under: Companies, Information Technology, Top News, Azim Premji, Girish Paranjpe, Suresh Vaswani, Wipro
HCL Tech’ sales growth robust, margins stable
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HCL Technologies’ sales grew by about 5% sequentially in the December quarter, due to good performances in its key markets of US and Europe, and high levels of growth in emerging markets. Its performance is comparable to that of Tata Consultancy Services, with revenues rising 4.9% sequentially to Rs 3,888 crore and by 28% over the same quarter, a year ago. Comparable figures for TCS during these periods were 4% and 26%. Continue Reading →
Filed under: Companies, Information Technology, Top News, December 2010 results, HCL Technologies
TCS results to brighten IT sector outlook
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Indian software giant Tata Consultancy Services (TCS) has logged impressive sales as well as profit growth, on the back of rising volume of work and aggressive cost management.
The company’s consolidated sales in the quarter ended 31 December 2010 rose by 4% over the previous quarter to Rs 9663 crore. This growth was higher than that of Infosys, whose sales grew by just 2.3% sequentially, and which had got affected by foreign exchange volatility.
Filed under: Companies, Information Technology, Top News, December 2010 results, Infosys, TCS
CMC’s international biz drives growth
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CMC Ltd, a mid-sized Rs 708 crore IT solutions company has announced its results for the quarter ended December 2010. Its consolidated sales have risen by 29% to Rs 274 crore, over the same quarter last year. Its net profit has risen by 25% in this period.
Filed under: Companies, Information Technology, Quick News, CMC, December 2010 results
Infosys meets $ guidance, but markets want more
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Infosys Technologies reported its December quarter results today. Its share price was down by about 4% at the time of posting, as its results lagged market expectations.
Filed under: Companies, Information Technology, Top News, December 2010 results, Infosys, Results
IDC and Cyber Media part ways
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International Data Corporation (IDC) and Cyber Media India have ended their partnership in India. Cyber Media was carrying out research for IDC’s India practice for the important sectors of information and communications technology (ICT). Now, IDC is setting up a new research unit in Bangalore, to take care of India centric research.