French information technology (IT) and consulting services major Capgemini on Monday said it would acquire Mumbai-headquartered WNS for $3.3 billion in cash. This could be one of the largest merger & acquisition deals in the IT services and business process management sector.
iGate has been reorganising its structure and analysing client accounts to enhance cost efficiency and scale operations.
iGate has been hit with another sexual harassment suit by an ex-employee.
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.
Canada is a rapidly growing market for iGate Global. "We have seen a lot of traction around our consulting, IT and finance and accounting outsourcing services.
This brand change is in line with the vision of 'one company'.
iGate said these demands are not tenable and the NASDAQ-listed firm has approached the requisite appellate authorities.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
According to reports in the Canadian media, iGate was allegedly using temporary foreign workers to replace the bank's existing staff.
In an emailed exchange with Business Standard, iGate states the circumstances that led to Phaneesh Murthy's sacking.
iGate Corporation, the integrated technology and operations company, on Thursday announced that its subsidiary iGate Global Solutions Limited has been ranked the top IT employer in India in Dataquest-IDC's 8th annual survey.
The French IT services company had said it would buy IGATE for $ 4 billion in an all-cash deal.
IGATE's shares closed on Nasdaq on Friday at $45.85.
However, the Carlyle-Advent consortium could revise its bid upwards, said two independent sources tracking the deal.
MindSquare Technologies is a group company of 1neoteric Technology.
iGate Global Solutions Ltd will set up its new facility in Dalian and wind up the existing facility in Wuxi in China.
Outsourcing company iGate Corporation on Wednesday said it has bagged a major five-year contract worth over $100 million (about Rs 598 crore) for providing global infrastructure services for insurance major MetLife, Inc.
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.
He will get annual base salary of $1.3 million apart from bonus.
It wants to increase its revenue to $3 billion by 2017 from $1 billion now.
Bronstein, Gewirtz & Grossman is investigating claims on behalf of purchasers of iGate securities.
US-based iGate on Monday said it has acquired nearly 63 per cent stake in country's sixth largest IT firm Patni Computer Systems for $1. 22 billion.
iGATE Global Solutions said on Monday that it has appointed Mohan Sekar as chief delivery officer-IT services.
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."
Software solutions provider iGate Global Solutions Ltd said on Monday its US-based subsidiary, Symphoni Interactive LLC, has been merged with itself.
Patni Computer is understood to have cleared nearly 63 per cent stake sale to US based iGate and a consortium after several rounds of negotiations for an estimated amount of over Rs 4,000 crore (Rs 40 billion).
US-based outsourcing firm iGate on Wednesday said its net profit declined 89.6 per cent to $3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.
The first phase of integration is already over
The US-listed company, which has bulk of its employees in India, has appointed Gerhard Watzinger as interim chief executive with immediate effect.
iGate Corp, the Nasdaq-listed information technology (IT) services company, on Thursday posted better-than-expected numbers for the quarter ended September 30, backed by impressive performance by some of its key verticals such as banking, financial services & insurance (BFSI), manufacturing and health care.
A stake sale deal between Patni Computer Systems and iGate is on course, but has been delayed due to procedural issues.Sources involved in the deal said they include tax-related developments and offshore transaction fees.
For the quarter ended September 30, 2011, iGate Patni had 26,216 employees compared to 26,395 people in the previous quarter.
Going ahead iGate will have to maintain a healthy order book to sustain growth.
IT firm iGate Patni on Monday said it has bagged a contract worth $30 million (nearly Rs 133 crore) from US-based Weyerhaeuser NR to provide and manage IT infrastructure service operations.
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).
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