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Infosys completes Acquisition of ABN AMRO Bank Subsidiary

26May By AdityaNo Comments

BUSINESS

Infosys completes Acquisition of ABN AMRO Bank Subsidiary

IT services major Infosys said it has completed the acquisition of 75% shareholding in ABN AMRO Bank's wholly-owned cNV. In March, the country's second largest IT services firm had said it will acquire 75 per cent stake in Stater for 127.5 million euros (about ₹989 crore). ABN AMRO continues to hold the remaining 25 per cent. "This partnership strengthens Infosys' position as a leading technology and business process management provider across the mortgage services value chain, improving experience and operational efficiencies..." Infosys said in a statement. It added that the deal further enhances its strategy to help clients navigate their next digital transformation journeys. "The specialised knowledge and experience of Stater in the mortgage services market, combined with t...

IBS Software to acquire market leader in aviation software

20May By NitishNo Comments

ACQUISITION

IBS Software to acquire market leader in aviation software

IBS Software (IBS) has entered into a multi-million dollar pact with Massachusetts-based Kronos Incorporated to acquire AD OPT, a market leader in aviation software. The crew planning and optimisation platform of AD OPT powers some of the top airlines in the world, including Air Canada, EasyJet, Emirates, FedEx, Garuda, Lion Air, and Qantas, a press release said here Sunday. The acquisition is an integral part of Thiruvananthapuram-headquartered IBSs growth strategy to become the leading technology provider to the airline industry, the release said. Earlier, the company had made six acquisitions three in USA, two in Europe and one in India. AD OPT, founded in 1987 in Montreal, Canada, was acquired in 2004 by Kronos, a multinational workforce management software and services com...

3May By AdityaNo Comments

INDIA

Indian Telecom company Vodafone-Idea signs multi-million dollar deal with IBM

NEW DELHI: India's largest telecom operator Vodafone Idea Ltd on Friday announced a five-year multi-million-dollar IT outsourcing deal with tech giant IBM. "This engagement will also contribute to Vodafone Idea's merger synergy objectives by reducing its IT related costs," the telecom firm said in a statement. The company did not divulge the size of the deal but some reports pegged it at about $700 million. "The collaboration will provide Vodafone Idea with a hybrid cloud based digital platform to enable more intimate engagement with its over 387 million subscribers (as of 31 December, 2018), enhancing business efficiency, agility and scale plus simplification of its business processes," it said. The new infrastructure platform will remove constraints to the exponential growth ...

23Apr By reutersNo Comments

INDIA

TCS signs a deal with India Post to transform country’s mail delivery system

India's largest IT services company, Tata Consultancy Services (TCS), has partnered with the Department of Posts in a bid to transform it into a multi-service digital hub, modernise the delivery of mail and packages, enhance customer experience, and launch innovative services that will drive new revenues. At the heart of this transformation is the Core System Integration (CSI) program designed and implemented by TCS. This involved deploying an integrated ERP (enterprise resource planning) solution that caters to mail operations, finance and accounting, and HR functions, and connects its vast network of more than 150,000 post offices, making this the largest distributed ePostal network in the world. The integrated solution is built to cater to the Department’s immense scale, and futu...

Infosys to roll out incentive scheme for staff with digital skills

16Apr By Press Trust of IndiaNo Comments

News

Infosys to roll out incentive scheme for staff with digital skills

NEW DELHI: Infosys will roll out an incentive scheme this year for employees equipped with digital skills and will aggressively re-deploy staff on projects offering opportunities to work on new technologies as it looks to stem rising attrition in the face of stricter visa rules, a top executive has said. Infosys COO Pravin Rao, during a recent investor call, said Infosys' localization efforts have helped its business become "much more resilient and less susceptible to the visa regime than in the past". "This is an effort we need to continue till we get to the 50 per cent mark," he added. In January, Infosys had said it has already hired over 7,600 staff in the US - more than three-fourths of its target of recruiting 10,000 American workers. It had also spoken about making rec...

Zoho Subscriber Grows 45 Million and announced a New Campus in Austin

10Apr By NitishNo Comments

News

Zoho Subscriber Grows 45 Million and announced a New Campus in Austin

Zoho announced that its user base grows more than 45 million users across 180 countries, at a revenue growth rate of 39 percent year-over-year. The company also announced plans for a new 375-acre campus in Austin, which entails aggressive hiring plans and the expansion of Zoho University, a Zoho-funded technology school for high school graduates based in India, to the United States. Founded in 1996, Zoho has grown along with the explosive adoption of cloud-based software by businesses of all sizes. From day one, the company has been methodical in its approach. Zoho is financially bootstrapped, and plans to remain that way. The company does not participate in merger and acquisition activities largely because of the negative impact on customers associated with these transactions. Its ...

8Apr By PriyankaNo Comments

ACQUISITION

BPEA Acquires 30% Shares of NIIT Tech

Baring Private Equity Asia ("BPEA") acquires 30% Stakes (18.85 million shares) of NIIT Technologies Limited from NIIT Limited. The cost of this deal is INR 1394 per share. The deal size is around $381 million. In a filing with the Securities and Exchange Board of India Regulations, BPEA will also make an offer to other shareholders of NIIT Technologies to purchase 26% additional shareholding at a price of INR 1394 per share value up to approximately $709 million based on ownership of approximately 56% stake(controlling stake). This transaction is conditional upon customary conditions, including receipt of required regulatory approvals, including anti-trust and competition clearances from Competition Commission of India. Rajendra Pawar, Chairman, NIIT Technologies Limited, sa...

BlackRock acquires eFront in $1.3 billion Cash

25Mar By AdityaNo Comments

ACQUISITION

BlackRock acquires eFront in $1.3 billion Cash

NEW YORK & PARIS- BlackRock today announced that it has made a binding offer and entered into an exclusive agreement, subject to the conditions below, to acquire 100% of the equity interests in eFront, the world’s leading end-to-end alternative investment management software and solutions provider, from private equity firm Bridgepoint and eFront employees, for $1.3 billion in cash. The combination of eFront with Aladdin, BlackRock’s investment operating platform used by more than 225 institutions around the world, will set a new standard in investment and risk management technology. eFront, which serves more than 700 clients in 48 countries, is a comprehensive technology solution for managing the alternatives investment lifecycle, from due diligence and portfolio planning to pe...

SAP to Set up Another R&D Campus in Bengaluru

1Dec By Gauri SinghNo Comments

INDIA

SAP to Set up Another R&D Campus in Bengaluru

Software and technology firm SAP is reportedly establishing a large new campus in Bengaluru near the international airport. This will significantly increase its R&D (research & development) presence in the city. The company’s executive board member Bernd Leukert, who is in charge of products & innovation, and who was in Bengaluru on Friday to mark the company’s 20th anniversary in India, said it would be a 40-acre campus, double the size of the existing one in Whitefield. “It’s a testimonial to the great talent and abilities here, and the extent to which people here have contributed to the overall success of SAP,” Leukert said. SAP has 11,000 employees in India, of which 7,500 are in core R&D, making it the German enterprise software company’s second largest R&D c...

13Sep By Gauri SinghNo Comments

ACQUISITION

Adobe Eyeing to Acquire a California-based Marketing Software Company

The international computer software company Adobe that is popularly known for its image-editing software Photoshop, is in talks to buy Marketo, a privately held cloud-based marketing software company. This acquisition would help boost Adobe's cloud-based software offering. Marketo offers business-to-business marketing applications that would assist greatly with Adobe's marketing business. However, it is still unsure whether the deal would take place. It is also not clear how much Adobe would pay for Marketo. Adobe has a market capitalization of $130 billion and has surpassed analysts' profit and revenue estimates for the past eight quarters. On the other hand, Based in California, Marketo was started in 2006 as an email marketing service. Last year, it generated revenue of approxi...

Wipro Wins $1.5 Billion Digital Service Contract, The Biggest Contract Ever in The History of Wipro

2Sep By AdityaNo Comments

BUSINESS

Wipro Wins $1.5 Billion Digital Service Contract, The Biggest Contract Ever in The History of Wipro

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading information technology, consulting and business process services company, today announced that it has won a 10-year engagement to provide a comprehensive suite of solutions and services to Lincolnshire, Illinois-based Alight Solutions LLC, a leader in technology-enabled health, wealth, HR and finance solutions. This deal will result in revenues of USD $1.5 to $1.6 billion for Wipro over the tenure. This is Wipro’s largest win to date. This engagement will enable the digital transformation of Alight’s offerings across health, wealth, HR and finance solutions, and enhance the employee experience of Alight’s clients by leveraging Wipro’s industry-leading strengths in digital technologies, cognitive automation and data analyti...

Shibulal’s Family Sells 1.6 Million Infosys Equity Shares

12Aug By NitishNo Comments

News

Shibulal’s Family Sells 1.6 Million Infosys Equity Shares

S D Shibulal, the former CEO and one of the co-founders of Infosys has announced that some of his family members have sold 1.6 million equity shares (representing 0.074% of the paid-up equity share capital) of Infosys on the stock exchanges. Earlier we published a report that some of the Infosys founders are planning to sell their equities worth Rs 13000. The shares were sold during the period August 8, 2018, to August 10, 2018, a release from Shibulal's office said. The sale was executed by Citigroup Global MarketsIndia Private Limited as the Sole Broker for the sale of shares. The release said the partial monetization was done to raise proceeds for personal reasons, including for the betterment of the society through various philanthropic activities. Even after this sale, the...