Housing Development Finance Corporation has divested its entire stake in the Bermuda-based Spectramind for Rs 26.4 crore to Wipro.
Ontrack Systems Ltd is planning to acquire business process outsourcing units in the UK and Holland for Rs 20 crore (Rs 200 million) and would raise funds overseas to finance the acquisition.
Aegis BPO Services, an Essar Group business process outsourcing (BPO) company, is close to acquiring an 8,000-seater BPO firm in the Philippines. The exact size of the deal is not clear.Aegis has been bullish on inorganic growth as its races to reach a turnover of $500 million (around Rs 2,000 crore) by 2010.
Business process outsourcing company Convergys India will open a new call centre office near Mumbai by June. The company, which currently employs 10,000 people in India is looking to further increase its manpower by 4000.
Key sectors of the Indian economy shed half a million jobs in the final three months of last year as the global slowdown took its toll on one of the world's fastest growing big economies.
FLAG Telecom, a Reliance group company has denied media reports alleging that it has resorted to high pricing impacting the growth of Indian business process outsourcing units and information technology enabled services.
Sonata Software said on Monday it is evaluating plans to enter the business process outsourcing sector in the insurance space.
Chennai-based business process outsourcing firm in human resources services, Secova eServices plans to ramp up its operations by hiring 165 people in the next one year, its co-founder V Chandrasekaran said.
The company's revenue grew 13.4 per cent at $115.6 million (around Rs 457.08 crore) for the third quarter from $101.9 million (around Rs 402.9 crore).
HCL Technologies will be adding 5,000 people to its business process outsourcing division, which now has 10,000 members.
The growth of offshore business process outsourcing industry in the country is likely to further slow down over the next one year amid concerns over data security breach, high attrition rates and staffing costs, rising competition and continuing marg
Tata Consultancy Services, India's largest IT company, sold 50 per cent stake in Intelenet Global Services Ltd to Housing Development Finance Corporation Ltd for Rs 161 crore (Rs 1.61 billion).
Shortage of skilled manpower in the information technology and business process outsourcing-ITeS sector is fuelling a hike in employee salaries, which have been posting a 10-40% growth during the last couple of years, according to Gartner.
Akshay Bhargava, former chief executive of Infosys's BPO arm Progeon, has joined 3i -- Europe's leading venture capital and private equity company -- and will head 3i's new focus on the global business process outsourcing market.
Aiming to tap India's growing business process outsourcing market, global HR services firm Manpower has launched an ITeS division to provide customised HR services to the ITeS industry in the country.
the Associated Chambers of Commerce and Industry on Wednesday said the country's IT industry is slated to grow by 26 per cent this year driven by strong economic performance.
IT services giant HCL Technologies on Wednesday said it is planning to set up a delivery centre in Pune as part of its plans to venture into small towns and cities.
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Business process outsourcing companies in the National Capital Region are being forced to set up centres in other parts of the country and lower their hiring rates on account of higher retention costs and capacity bottlenecks.
The National Association of Software and Service Companies on Monday said the Indian software and services sector will post a 28 per cent growth in 2003-04 at $12 billion in revenues, compared to $9.5 billion in 2002-03.
Companies such as IBM Daksh, Aegis, MphasiS, Intelenet, HTMT Global, Sitel India are also increasing their domestic focus.
It had come out with an initial public offering (IPO) of 35.3 million common shares, priced at $14 a share, which enabled the company to raise $494 million. The initial market cap is about $2.89 billion.
The recent ruling by the Authority of Advance Rulings making back-office services provided by a company to global firms taxable under GST, has sent shockwaves through the information technology and business process outsourcing industry.
The New York Stock Exchange has stolen a march over its rival Nasdaq in India.
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