UK-based food retailer Morrisons, with 375 stores and annual turnover of £13bn has tied up with India's third largest IT company Wipro Technologies for development of its IT applications and systems.
Wipro will support Morrisons to achieve the core objective of delivering effective planning, management and delivery of large scale systems and process change based on an Oracle ERP platform. The Bangalore based IT company will deliver an operating model that supports the retailer's strategic and commercial objectives. The details for the size of the deal were not disclosed.
Thursday, January 29, 2009
Wipro bags UK based Morrisons IT contract
Spice Group Ready To Put $408 Million In Satyam
BK Modi has said that Spice would like a preferential issue route to acquire 51% stake in Satyam.
Spice Group is ready to invest about 20 billion rupees ($408 million) in Satyam Computer Services and wants to buy a 51 percent stake in the fraud-scarred outsourcer, Spice Chairman B.K. Modi said.
"That is our desire," Modi told Reuters on Friday. "We want the money to go inside the company. For that they will have to make a preferential issue. If I buy shares from the market, the money will not go into the company."
Modi said the group had submitted on Thursday its proposal to the government-appointed new board of Satyam.
"We have also talked to two, three board members informally."
Spice Group has diversified operations including mobile handset manufacturing, mobile software development, back-office operations, entertainment and retail.
Last year, it sold its mobile telecoms services business to Idea Cellular for 21.76 billion rupees.
"That is one of the sources (for funding). But we have other channels," Modi said, adding that the group was capable to fund a possible deal internally.
Infosys-puts-over-5000-employees-under-scanner
Infosys Technologies has placed around 5 per cent of its global workforce under the scanner. The move, which is being seen as an offshoot of the global financial meltdown, is expected to affect over 5,000 of the 100,000-plus employees on the company’s rolls.
It is learnt that Infosys, the country’s second-largest information technology services provider, has told its senior managers (project managers, senior and group project managers, delivery managers) to give the lowest performance rating (4 on a scale of 1-4) to the 'underperforming' 5 per cent as a part of the company's consolidated relative ranking (CRR).
TCS signs $100-m deal with UK Co
The country’s largest software exporter, Tata Consultancy Services, has bagged a Rs 490-crore engagement (about $100 million) to provide managed IT services to UK-based 4U Group.
According to the contours of the agreement, TCS will provide services such as application support, service management, maintenance, management and development, data centre and desktop services, helpdesk, networks and communications, business support and management of all third-party contracts for the organisation’s retail operations.
Oracle takes aim at Salesforce with on-demand CRM update
Oracle stepped up its assault on rival Salesforce on Tuesday with a new version of its on-demand CRM application.
CRM On Demand Release 16's main new attributes include unlimited custom objects, plus a new single-tenant deployment offering and an accompanying catastrophe recovery option, all of which seem targeted at large enterprises.
Startup's Application Lets Users Tap SAP HR Via SharePoint
Startup Topaz Bridge has landed the major pharmaceutical company Merck as an initial customer for Topaz Bridge S2, a native Microsoft SharePoint application that allows users to work with SAP human resources data through the SharePoint interface.
Sun Microsystems' losses less than expected
US server and software maker Sun Microsystems Inc posted losses of 209 million dollars for the foruth quarter, dragged down by restructuring costs, but fared better than analysts' expectations. At the same time last year the company reported a net profit of 260 million dollars. Sales suffered from the impact of the global economic crisis, dropping 11 per cent to 3.2 billion dollars, the Santa Clara, California-based company said Tuesday.
MindTree provides EBITDA guidance for FY09
MindTree on Thursday made the following announcement to the stock exchanges. A feature of MindTree's results in the current year is that EBITDA is running at record levels, while PAT has been depressed due to book provisions on account of Mark-to-Market losses. Accordingly, for the first time, in addition to the Revenue and PAT guidance, the company has decided to provide EBITDA guidance. In view of the uncertainty in the external environment and other factors such as the joining of campus hires, MindTree said it was extra cautious on the EBITDA guidance.
iYogi Partners with GlobalLogic for Software Product Development to Create "Generation V" Technical Support Platform
iYogi (www.iyogi.net) today announced a software product development partnership with GlobalLogic Inc. to create a "Generation V" services platform for iYogi's proprietary technical support application framework, iMantra. The fastest growing direct-to-consumer and small busines support brand from India, iYogi has more than 50,000 subscribers worldwide.
GlobalLogic, the leader in global software product development, will assist in the enhancement of iYogi's service delivery framework using best-of-breed Web 2.0 tools and applications. Some of the innovative features to be introduced through this software product development tie-up include an application that resides on the customer's desktop and provides integration with iMantra ("Support Dock") and a global MPLS-based IP transport platform that provides customers with the instant deployment of remote access and voice-based support with a single click. This advanced implementation allows for integration with POS payment systems to facilitate real-time processing at the point of sale.
Zensar bets big on Hi-end BPO biz
RPG Group company and IT major, Zensar, is betting big on the business process outsourcing (BPO) business and plans to get into the hi-end of the business, a top group official said.
"We plan to get into the hi-end of the BPO business," RPG Group Chairman, Harsh Goenka, told media here.
Norwest Venture Partners invests Rs 20 cr in Appnomic
Norwest Venture Partners has invested Rs 20 crore in the Bangalore-based Appnomic Systems, an infrastructure management services company.
Appnomic, with operations in India, West Asia and Africa, will use this funding to strengthen its existing market presence, and expand into the US market. Mr Promod Haque, Managing Partner, NVP, will join Appnomic’s board of directors.
Cisco Acquires Richards-Zeta Building Intelligence
Cisco, a provider in networking solutions, today announced that it has completed the purchase of California-based, privately-held Richards-Zeta Building Intelligence, Inc, a provider in intelligent middleware technology.
Richards-Zeta's intelligent middleware transforms building operational data into an IT-friendly format that easily integrates with existing applications, said a press release.
Asia Pacific SMBs to spend US$ 153B on IT and Telecom
Small and medium businesses (SMBs, or companies with up to 999 employees) in the Asia-Pacific excluding Japan region will spend $6.5 billion more in 2009 compared with the year before. Chinese, Korean, and Indian SMBs make up more than 50 percent of Asia Pacific spending, according to a latest study by New York-based Access Markets International (AMI) Partners Inc.
Massive layoffs as gloom deepens
Workers around the world face losing their jobs as several big corporations announced more than 70,000 layoffs in one single day.
Friday, January 23, 2009
Intel to shut and cut up to 6,000 jobs
Intel Corp said on Wednesday it would close manufacturing plants in Malaysia and the Philippines, as well as its only remaining factory in Silicon Valley, cutting as many as 6,000 jobs.
The announcement comes a day after the world's largest maker of microprocessors used in personal computers slashed prices on a number of its chips and a week after it reported a decline in fourth-quarter revenue.
Cisco appoints HCL Infosystems as national disti for Linksys
Cisco announced the appointment of HCL Infosystems as a national distributor for its Linksys by Cisco consumer home networking products.
Under this tie-up HCL Infosystems will market Linksys by Cisco home networking products through its Digilife stores across the country.
Microsoft Ordered to Delete Browser
The European Union said Friday that Microsoft’s practice of selling the Internet Explorer browser together with its Windows operating system violated the union’s antitrust rules.
It ordered the software giant to untie the browser from its operating system in the 27-nation union, enabling makers of rival browsers to compete fairly.
Accenture RP lays off 500 workers
Outsourcing firm Accenture said it is laying off at least 500 workers in the Phillipines due to a "redundancy” program. The Philippines has the third-largest headcount in Accenture's global network, next to the US and India.
United Nations looks to SAP for ERP system
The United Nations may be on the verge of installing an ERP system from SAP AG, potentially resulting in one of the largest public-sector deployments to date for the German software vendor.The deal could be worth as much as $300 million to SAP.
TCS bags multi million dollar deal from Ducati
Tata Consultancy Services , today announced that it has won a multi year, multi million dollar deal from Italian auto major Ducati motor holding company.
As per the deal TCS will deliver its technology based services to Ducati that would improve customer responsiveness and business efficiency.
KPMG Corporate Finance & JP Morgan and Credit Suisse topped the rankings
KPMG Corporate Finance topped the rankings in each worldwide Mid-Market category based on number of deals while JP Morgan and Credit Suisse topped the rankings based on value for deals valued up to US$200mn and US$500mn.
MindTree adds 22 new clients, sees pricing pressure
MindTree Ltd has added 22 new clients in the quarter ended Dec. 31,taking the total count to 260, Chief Executive Officer, N. Krishnakumar said.The company sees further downward pricing pressure in the fourth quarter and some customers are negotiating prices, he added.
Mindtree Q3 net profit declines
The impact of economic recession and exchange rate volatility is clearly visible in case of Mindtree’s quarterly result. The company reported a decline of 4.7% in dollar-denominated revenue on a standalone basis. On a consolidated basis, it registered a growth rate of 3.6% in dollar revenue, thanks to its Aztecsoft acquisition. The India growth story is clearly visible in case of Mindtree. The dollar revenue from India grew at around 28% quarter-on-quarter, far higher than any other geography.
Polaris net surges 94%
Polaris Software Lab on Tuesday nearly doubled its net profit in October-December quarter despite forex-related losses, boosting itsstock prices by almost 30 %.Net profit surged 94% to Rs 37.17 crore over last year, with income from software and services going up by 32% to Rs 372.6 crore in the quarter. Sales were helped by core banking deals in Asian countries such as Vietnam and consumer finance projects in countries such as Egypt.
Zensar net jumps 35% to Rs 20 cr
Software Solution and BPO services provider Zensar Technologies has reported an upward year-on-year profit growth for the quarter ended December 2008. It posted a net profit of Rs 20.22 crore in the quarter as against Rs 15.02 crore in the previous corresponding period, reflecting a growth of 34.6 per cent.
Raju diverted Rs. 74 bn for personal gain: Prosecutor
Disgraced Satyam Computer Services founder B. Ramalinga Raju and former chief financial officer Vadlamani Srinivas will remain police custody till Friday evening, a court ruled on Thursday, as prosecutors said Raju had diverted Rs.74 billion (Rs.7,400 crore/$1.48 billion) from his company for personal wealth.
L&T front-runner for Satyam buy
Institutional shareholders such as Life Insurance Corporation of India (LIC) and ICICI Prudential Life Insurance are supporting engineering behemoth Larsen & Toubro’s move to acquire troubled software exporter Satyam.As the first step, L&T is expected to present a revival proposal before the newly-constituted board of Satyam soon, said informed sources.On Wednesday, L&T convened its board meeting to discuss its nuclear foray and chances of buying Satyam. The board member representing LIC, a major shareholder of L&T, also attended the meeting. However, an L&T spokesperson said Satyam was not on the agenda today.
Private Equity Funds May Team Up With IT Cos For Satyam Bid
Global private equity players are looking to team up with IT companies in India for a joint bid for fraud-hit Satyam Computer Services. Private equity players like Texas Pacific Group and General Atlantic (GA) have shown an interest in Satyam, reports Economic Times. While General Atlantic may team up with its portfolio firm Patni Computers, other IT firms that are in fray are iGate Corporation, Tech Mahindra and L&T Infotech. But the issue that these firms face is what will be the fallout of lawsuits and other possible liabilities that Satyam might face, and how can they protect themselves against it.Top officials at both Tech Mahindra and iGate have confirmed that they have been approached by private equity players for bid for Satyam. If Patni clinches the deal, it will take back to its old position of top IT companies India, a position it has lost to likes of HCL Technologies and Tech Mahindra.
Wipro Q3 net profit up 18% YoY
Technology major Wipro reported 3.51 per cent rise in net profit to Rs 1,003.90 crore for the Oct-Dec quarter compared with Rs 969.80 crore in the previous quarter, while on a year-on-year basis, net profit rose 18 per cent.Net sales grew 1.75 per cent to Rs 6634.30 crore in the quarter ended Dec 31, 2008 as against Rs 6519.60 crore in the last quarter.
Friday, January 16, 2009
3i Infotech sees Rs 7.5 cr a month from retail biz
3i Infotech, the IT services firm, aims to earn Rs 7.5 crore per month or Rs 90 crore a year, from its 12,500 I-serv branded retail stores.
Nortel has filed for Chapter 11 bankruptcy protection
Nortel has filed for Chapter 11 bankruptcy protection. Nortel Networks is North America’s biggest maker of telephone equipment.
The company said operations are expected to continue without interruption and added that it has sufficient cash on hand to fund ongoing operations.
Nortel is one of the larger clients for most Indian IT companies. Indian companies that would be impacted are Sasken, Infosys and Wipro.
Salesforce takes customer service to the cloud
Salesforce.com, the enterprise cloud computing company, has launched its next generation solution for customer service - Service Cloud, built on the Force.com platform.
The Service Cloud through the power of cloud computing, and brings together industry leading cloud computing platforms like Google, Facebook and Amazon.com to capture every conversation and leverage every community expert in the cloud.
Creating New Dimensions
Imagine compressing a 3D image file to the size of a word document to send it through email or Bluetooth. 3DSoC, a startup company spun out of IISc and Stanford University, has turned this idea into reality
Trends Predictions 2009 - Dataquest
On all accounts, 2008 was one of the worst years for India in the last two decades. Indian IT was no exception. While we enter 2009 with a lot of fear and uncertainty and a slowdown across all sectors, which will affect IT, there are some specific areas that, we believe, will provide some silver lining. We present a list of nine such areaswhich we call Nine for Oninethat are likely to see considerable actions.
3i Infotech sees Rs 7.5 cr a month from retail biz
3i Infotech, the IT services firm, aims to earn Rs 7.5 crore per month or Rs 90 crore a year, from its 12,500 I-serv branded retail stores.
IT firms to crack down on staff with fake CVs
Most of the IT firms, including TCS, MindTree, Wipro, MphasiS, Infosys and Sonata Software, are supposedly taking a strong stand to keep such candidates at bay by resorting to background verification.
Sonata Software up
The Sonata Software scrip was up 7.2 per cent to Rs 17.10 on the announcement of positive third quarter results. The Bengaluru-based IT firm’s net profit increased by 27 per cent y-o-y to Rs 19.9 crore, while its revenues rose 7 per cent to Rs 387.8 crore in the quarter ended December 2008.
Cognizant wins more deals through T-Systems partnership
Cognizant and T-Systems on Tuesday said they have signed an agreement with European automotive supplier Continental, to jointly provide application management services to the research and development operations of Continental's tyre divisions in Hanover. Cognizant will provide the bulk of the services from India.
Oracle India lays off 40 people
More pink slips are being handed out in the IT sector. Enterprise software major Oracle laid off over 40 employees across its offices in India.
Intel Capital invests $23 m in three Indian cos
Intel Capital, Intel’s global investment organisation, on Thursday announced an investment of $23 million in three Indian companies: One97 Communications, a private independent provider of telecom-managed value-added services, IndiaMART.com, online B2B marketplace connecting Indian suppliers with domestic and international buyers, and Global Talent Track, vocational educational institute with investment co-led by Helion Venture Partners.
Nortel owes over $10 mn to Indian IT companies
Nortel Networks, the Canadian telecom equipment maker which filed for bankruptcy protection on Wednesday, owes $9 million to Indian IT companies such as Wipro ($3.1 million), Infosys and TCS (both $2.9 million) as per court filings.
Additionally, Nortel, which is amongst the top 3 clients for tier-II software services firm-Sasken Communication, is said to owe an undisclosed amount to Sasken too.
Infosys delivery ratio at record low
Two dramatic developments in the IT services space — first the fraud at Satyam and then World Bank’s ban on Wipro — in a span of less than two weeks, have made investors wary of the sector in general. At least, the current trading pattern in shares of the country’s top software companies seems to indicate that.
Infosys to benefit most from the Satyam scam
Infosys Technologies is expected to gain the most among the top Indian IT players from Satyam’s loss of credibility. Although there will be no shift towards one single provider, Infosys’ reputation as a firm with high corporate governance standards as well as its US listing is expected to stand it in good stead when customers make a choice, said analysts.
Eye on banking & telecom clients, Aegis may bid for Satyam BPO
Essar Group's outsourcing arm, Aegis BPO, is set to make a bid approach in the next couple of days to acquire the outsourcing arm of troubled Satyam Computer Services, Satyam BPO, according to people familiar with the situation.
Wipro ineligible for contracts with World Bank till 2011
The country's third largest software exporter, Wipro, on Monday said it is not eligible to contest direct contracts with the World Bank till 2011.
In June 2007, the World Bank had determined the IT firm to be ineligible to contest direct contractsfrom the global lender for the period 2007-2011, citing conflict of interests, a Wipro spokesperson said.
Saturday, January 10, 2009
Satyam fraud: CID grills Ramalinga Raju, brother
Sleuths of the Criminal Investigation Department (CID) of Andhra Pradesh police Saturday grilled disgraced former Satyam Computer Services chairman B. Ramalinga Raju and his brother and former company managing director B. Rama Raju in connection with a Rs.70 billion (1.43 billion) fraud in the company.
Inspector General of Police (Economic Offences Wing) V.S.K. Kaumudi and other CID officials interrogated them throughout the night, police sources said here Saturday.
Inspector General of Police (Economic Offences Wing) V.S.K. Kaumudi and other CID officials interrogated them throughout the night, police sources said here Saturday.
Thursday, January 8, 2009
Brocade completed its acquisition of Foundry Networks
Brocade, a provider of networking solutions, today announced that it has completed its acquisition of Foundry Networks, a performance and total solutions leader for network switching and routing for $16.50 per share in cash.
Mobile apps: What to expect in `09
As we begin to enter another year, it will be interesting to start pondering on what lies ahead in the coming years in mobile space. At the outset, let us begin with some bad news.
In 2008, the number and variety of mobile phones have surely increased. There is increasing acceptability of smartphones across the world, more so in countries like India. However, something interesting happened during the second part of the year. In the third quarter of 2008, the global smartphone market growth weakened year-on-year basis. This trend may probably follow through till the second part of 2009. However, the Indian statistics may present a different picture. However, we can expect a lot of interesting things to happen in this space.
Software development companies eye China
Driven by demand from their customers, Symphony and GlobalLogic have expanded their development base to China in recent weeks. Other vendors such as Aztecsoft Ltd and the Chennai-based Aspire Systems (India) Pvt. Ltd are evaluating plans for a China centre but have not made a final decision.
3i Infotech to pump Rs155 crore for stores in rural India
Will invest about Rs155 crore in setting up 12,400 retail stores of its I-SERV brand in rural areas of nine states by end- December, offering insurance and telecom-related services.
The software provider’s main focus is to offer telecom and insurance-related services, for which it has tied up with insurance companies ICICI Lombard and Max New York Life and telecom service provider Airtel.
iYogi Partners with GlobalLogic for Software Product Development to Create "Generation V" Technical Support Platform
iYogi today announced a software product development partnership with GlobalLogic, Inc. to create a “Generation V” services platform for iYogi’s proprietary technical support application framework, iMantra. The fastest growing direct-to-consumer and small business technical support brand from India, iYogi has more than 50,000 subscribers worldwide.
MindTree denies merger talks with Satyam
MindTree Ltd has denied media reports claiming that Satyam Computer Services Ltd is in talks with it for a possible merger.
A section of media today reported that Satyam Computer and some funds have approached two smaller rivals for a possible merger to fend off any hostile bid.
Besides MindTree, Satyam had held talks with HCL Technologies, the reports said.
On NSE, shares of MindTree were higher by 2.4 per cent at Rs 241.10 while that of Satyam Computer down by 6.5 per cent at Rs 165.70.
Infosys rules out Satyam buyout
The country's second largest software exporter, Infosys, on Wednesday ruled out the possibility of buying Satyam saying the IT major "will not touch any tainted company".
"We have no such interest in looking at buying Satyam... absolutely not... We will not touch any such tainted company that’s very clear," Infosys Founder and Chief Mentor Narayan Murthy said in an interview to a private television channel.
Satyam heads towards disaster with Rs 8,000 cr fraud
In the country's biggest corporate fraud involving about Rs 8,000 crore, iconic IT company Satyam was on Wednesday hurtling towards disaster following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman - leaving an uncertain future for the company and its 53,000 employees.
Satyam debacle not to impact IT industry: Wipro
With the developments in Satyam Computer unfolding shocking irregularities, Wipro Technologies, a NYSE-listed company, today said this incident is one of its kind and is unlikely to affect the industry.
“We are shocked by the recent news reports on Satyam, stating alleged multi-year misstatement of revenues.
“Wipro strongly condemns any attempt to mislead stakeholders. Global standards of corporate transparency are very high and we are confident that this is an isolated case and not representative of the IT industry,” Wipro Limited executive director and CFO Suresh Senapaty said.
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