Going ahead iGate will have to maintain a healthy order book to sustain growth.
Former iGate CEO Phaneesh Murthy, who was sacked by the US-based IT services firm for failing to disclose his relationship with a subordinate in May this year, has slapped the company with a law suit.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
The US-listed company, which has bulk of its employees in India, has appointed Gerhard Watzinger as interim chief executive with immediate effect.
iGate Global Solutions Ltd will set up its new facility in Dalian and wind up the existing facility in Wuxi in China.
Sunil Wadhwani and Ashok Trivedi, co-founders, said: "The separation is a logical step for the company. Our board has reviewed the divestiture and believes it will benefit our shareholders, employees and customers."
MindSquare Technologies is a group company of 1neoteric Technology.
Patni Computer Systems said that the US-based IT firm iGate has made an open offer for the 20.6 per cent stake in the company, in accordance with the requirements of the market regulator Securities and Exchange Board of India (SEBI).
He will get annual base salary of $1.3 million apart from bonus.
Outsourcing firm iGate has been slapped with class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy's "improper relationship" with a subordinate employee.
Scam-tainted Satyam Computer Services has lost its value with customers moving out of the company, according to Phaneesh Murthy, chief executive of the US-based iGate Corporation.
Former Chief Justice S P Bharucha to oversee selection process, guide govt-nominated board.
Satyam's director Tarun Das had earlier said that the company had been approached by Indian and international IT companies and that the board would decide on it. Reports have suggested that engineering major L&T has expressed interest in acquiring Satyam, while Tech Mahindra is interested in the telecom business of the Satyam group.
California-based law firm, Aiman-Smith & Marcy, said that iGate's head of investor relations Araceli Roiz was pregnant with Murthy's child.
Vemuri holds about 400,000 shares in IGATE which, at an offer price of $48 apiece, will give him $19.2 million
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
A quick and decisive action in such incidents augurs well for the IT industry, feels the Nasscom Chairman.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
External investigators say case of 'gender insenstivity'.
Balakrishnan, head of the BPO, Finacle and India business units at Infosys, is widely seen as a contender for CEO after the incumbent S D Shibulal's term ends in 2015.
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