India&#39;s Infosys, Wipro in race to buy US analytics firm: report
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Infosys Technologies and Wipro, India&#39;s second and third-biggest software firms, are competing to purchase a US analytics firm in a deal valued at up to 160 million dollars, a report said Friday.
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BANGALORE:Microsoft chief executive Steve Ballmer said he was excited about the work going on in India on the technology front. &quot;I think Indian IT majors like Wipro and Infosys are doing an incredible job.
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Infosys Technologies, India's second-largest software firm, has said it will be included on the Nasdaq-100 index, putting it among the biggest listed tech companies in the world.
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Level 3 Communications Inc.  Infosys Technologies  and Vertex Pharmaceuticals Inc.  are joining the Nasdaq-100 Index , in the exchange's annual re-ranking of the index.
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India&#39;s IT services market is forecast to grow to $10.73 billion by 2011, at a five-year compound annual growth rate of 23.2 percent, as outsourcing emerges as a more favored option for companies in India, according to research firm Gartner.
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Says it didn't shell out for outsourcing deal A salesman who helped Wipro, India's largest outsourcing firm, win the "mother of all outsourcing deals" to supply IT services to Shell is suing the firm for unpaid commission on the deal.â¦
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(InfoWorld) - Now that the dust has settled after last week's stock-market plunge, industry insiders are looking forward to continued stable growth in the IT sector. When a plunge in Asian markets last week caused panic share-selling around the world,Â IT investors reassessed the technology sector's prospects for the year. IT vendors had enjoyed seven months of rising share prices up until last week. But last week, several leading analysts said that a long-overdue correction was occurring. However, brokerages were upgrading their share-buying advice on bellwether IT companies, even as markets in general were declining. The upgrades continued this week. For example, chip-equipment makers' share prices are rising this week as analysts foresee user hardware spending increases through 2008. Thursday, Applied Materials and KLA-TencorÂ shares rose after analyst upgrades. Morgan Stanley raised its rating on both companies to overweight from equal weight and raised its rating on the whole semiconductor capital-equipment sector to attractive from in-line. Also this week, JMP Securities raised it rating on AMD to market outperform from market perform, forecasting strong sales for new products. In the telecommunications sector, AG Edwards & SonsÂ upgraded AT&TÂ from hold to buy, predicting that demand for wireless communications will spark growth. Last week, even as markets were in turmoil, analysts issued upgrades in several sectors. Robert W. Baird & Co. upgraded AutodeskÂ from perform to outperform; Bear Stearns & Co., looking at BEA Systems' positive cash flow, upgraded the company from underperform to peer perform. JP Morgan upgraded networking equipment maker CienaÂ from neutral to overweight, basing its decision on what it expects to be a faster-than-expected recovery on optical communications market. The bottom line is that demand for IT products worldwide, while not expected to equal the heady days of 2000, is by most indicators expected to grow consistently this year into next. The transition to Vista and spending on Web 2.0 services are expected to help spur user demand, according to analysts. "Barring any geopolitical issues that could arise, solid single-digit growth is expected in technology," said Jim Lanzalotto, vice president of Yoh Services in Philadelphia, a personnel and outsourcing firm. The IT job market is generally seen to be a prognosticator of the IT market. "When companies hire, it's because they see a need to put people in place for increasing demand," Lanzalotto noted. "We're dealing with the leading indicator of the leading indicators," Lanzalotto said. In technology, there is demand this year especially for basic product development specialists, CRM specialists (particularly in the health care fields), IT project management, and Java and .Net specialists, he said. High-end jobs requiring specialized skills are driving the IT job market overall, Lanzalotto said. Lower-end jobs and specialties such as help-desk services are expected to experience weak demand in the U.S. as these jobs get outsourced, Lanzalotto said, though the services sector globally appears to be stable. On the user-demand side, consumer spending in areasÂ like upgrades to Vista will be the main growth driver, Lanzalotto said.
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Indian conglomerate Tata plans to buy a stake in a high-tech unit of Germany's Deutsche Telekom which would see thousands of jobs outsourced, according to a German weekly newsmagazine.
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Indian outsourcer Wipro follows Infosys, opens a facility in Mexico to better serve clients in North America and Latin America.
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When the Nasdaq stock market opens next Monday, Indian outsourcer Infosys TechnologiesÂ will become the first Indian company to be included in its prestigious list of top-100 companies.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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(InfoWorld) - Indiaâs outsourcing industry continues to do well despite theÂ appreciation of the Indian rupeeÂ against the U.S. dollar and higher staff costs. Indiaâs second largest outsourcer, Infosys Technologies, Wednesday revised slightly upwards its revenue forecast for its fiscal year to next March 31. The company said it expects revenue to grow by 29 to 31 percent during the year to between $4 billion and $4.05 billion. Infosys, of Bangalore,Â said in AprilÂ that it expected its revenue to grow by 28 to 30 percent to about $4 billion during the year. The company, which is listed both on Indian and U.S. stock exchanges, has however revised downward its revenue forecast in rupees, to take into account the appreciation of the rupee. Indiaâs software and services exports areÂ projected to growÂ by 26 to 29 percent to about $40 billion in the fiscal year to next March 31, India's National Association of Software and Service Companies (Nasscom) said this month. The countryâs revenue from exports of software and services and business process outsourcing (BPO) grew 33 percent to $31.3 billion in the fiscal year to last March 31, according to Nasscom in Delhi. The appreciation of the Indian rupee against the U.S. dollar pushes down rupee realizations for revenue earned abroad by Indian companies, even as staff costs in India are going up. The U.S. is the largest market for Indian outsourcers, accounting for about 66 percent of export revenue. Indian outsourcing companies seem to be holding out well against the pressures. Infosys of Bangalore has maintained its net margins despite the rupee appreciation, higher wages, and costs of visas to the U.S., the company said Wednesday, while announcing its results for the quarter ended June 30. iGate Global Solutions, a mid-size outsourcer in Bangalore, also said Wednesday that it had nearly doubled its operating margins in the quarter over the same quarter last year, despite a stronger rupee, on account of higher rates from customers, higher utilization, and increased use of offshore delivery of services. In the quarter ended June 30, Infosys posted revenue of $928 million up by 40.6 percent over the same quarter last year. The company's profits for the quarter were $263 million up by 51 percent from the same quarter last year. Infosysâ results are in compliance with US GAAP ( Generally Accepted Accounting Principles). The company added 35 new clients and 3,730 employees during the quarter taking the total number of employees as on June 30 to 75,971. Infosys plans to hire 26,000 more staff during the current fiscal year. Infosys and other Indian outsourcers compete with multinational services companies such as Accenture and IBM, which have set up offshore services delivery centers in India to take advantage of the lower cost of staff in the country. There is, however, enough business going around for both Indian and multinational companies, according to Indian outsourcers. The crunch comes in relation to hiring new staff. Wipro, Indiaâs third largest outsourcer will be announcing its results for the quarter next week.
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Microsoft said it will join with India's second-largest software firm, Infosys Technologies, to provide software and consulting to manufacturing, banking and automobile companies, a statement said.
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(InfoWorld) - Indiaâs second largest outsourcer, Infosys Technologies, is considering a bid for French IT services company Capgemini, according to a newspaper report. The Times of India of Mumbai quoted an industry source on Friday as saying the move was a natural progression for a fast-growing Indian tech firm keen to make an impression on the global market. Infosys declined to comment on the reports. âWe do not comment on market rumors,â a spokeswoman for the company said Friday. However, Infosys, in Bangalore, indicated at itsÂ analyst conference in AprilÂ that it may consider an acquisition. An acquisition deal between Infosys and Capgemini is unlikely to happen, said Siddharth Pai, a partner at consultancy firm Technology Partners International in Houston, Texas. Infosys might acquire Capgemini to get access to European markets, where it doesn't have a large presence, but the cultural incompatibilities between the two companies are very high, he added. A number of Indian outsourcing companies including Tata Consultancy ServicesÂ (TCS) and WiproÂ have acquired companies abroad to increase their geographic reach and to focus on new industry sectors. Capgemini used acquisitions as way to win new business and add staff in India. Last year, the companyÂ acquired a 51 percent stakeÂ in Unilever India Shared Services, a subsidiary of European consumer goods maker Unilever Group. That business will become a wholly owned subsidiary of Capgemini by 2008. In February,Â Capgemini acquired Kanbay International, an IT services firm in Rosemont, Illinois, to boost its services delivery from India, and its business in the financial services sector. Infosys reported revenue of $3.1 billion for the fiscal year ended March 31 this year, and has forecast revenue of about $4 billion in its current fiscal year ending March 31 next year. The company had a market capitalization of $27 billion as of March 31. Capgemini is a larger company with revenue of $10 billion for its fiscal year ended December 31.
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The chairman of Wipro, IndiaÂs third-largest outsourcing firm, spoke about outsourcing, competition and education.
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A number of bidders approach US exchange Nasdaq to buy its stake in the London Stock Exchange, say reports.
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BANGALORE, India: India&#39;s second-largest software exporter, Infosys Technologies, quarterly net profit jumped 49 percent, well ahead of market expectations, thanks to a sustained outsourcing boom.
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(InfoWorld) - Indian outsourcer Infosys TechnologiesÂ is expanding its facility in Brno in the Czech Republic, to boost its ability to deliver services to its European customers. The expanded facility will have a capacity of 350 seats by January, Infosys of Bangalore said on Wednesday. Infosys has about 130 staff in Brno, who deliver business process outsourcing (BPO) services such as sales order management, finance and accounts, market research and underwriting for clients in 16 European countries. Over 80 percent of the staff at Brno are hired locally, and operations are run in 13 different languages including German, French, and Spanish, Infosys said. The company is planning to also deliver IT services such as infrastructure management and package implementations such as enterprise resource planning (ERP) and customer relationship management (CRM) from Brno once the expanded facility is in operation. A number of Indian outsourcing companies including Wipro and HCL Technologies have set up operations in Europe or acquired companies there with an eye to the European market. Currently, the U.S. and U.K. account for most of the revenue of Indian outsourcing companies. Although companies in the U.K. outsource software development and business processes to India, the rest of Europe has been comparatively slower in outsourcing to India. Continental Europe accounts for only about 12 to 13 percent of India's outsourcing revenues, according to India's National Association of Software and Service Companies (Nasscom). Infosys' revenue from Europe has grown by 60 percent year-on-year for the last three years. Europe accounted for about 25 percent of the revenue of Infosys in the last quarter, but most of that came from the U.K., according to a spokeswoman for Infosys. Besides expanding in Brno, Infosys is also setting up a development facility in Swindon in the U.K. The company also has a development center in Germany, and a center in Mauritius that is designed to address European customers because the population in Mauritius is multilingual, the spokeswoman said. Having centers in Europe helps Infosys build up capabilities in the specific European languages required by customers, and also comply with European Union regulations on data protection and privacy, which require that certain types of data should not be sent for processing outside the E.U., the spokeswoman added.ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.