Indian IT services companies are set to significantly increase their acquisition spending to $6.5-7 billion this year, up from $5 billion last year, as they seek to boost revenue and capabilities in areas like Cloud, data, enterprise platforms, and AI amidst a challenging economic environment.
The amount considered for the acquisition is 1.3 times the revenues Loadstone is expected to garner in 2012
V Balakrishnan, who created ripples in corporate circles when he stepped down as board member of software behemoth Infosys recently, has joined the Aam Admi Party.
There are signs that the worst may be over for the company, not withstanding management issues.
Infosys' acquisition of Switzerland-based Lodestone Holding would provide the software firm respite from investors who have, for long, demanded the company tweak its strategy of walking away from deals that might dilute earnings. Investors have also demanded the company's unutilised cash balances be used to revive growth.
Sarojini Damodaran Shibulal, the 57-year old CEO of Infosys, is a true geek.
Infosys revenue for Oct-Dec quarter up 12 per cent.
This will be Infosys' first investment from its innovation fund dedicated to start-ups and emerging technologies.
Infosys, the country's second largest IT services firm, is open to 'bigger scale' mergers and acquisitions but with a caveat, it is not interested in "yesterdays" companies.
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.
The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc.
They expressed disappointment over the firm's performance.
In another significant senior-level realignment at Infosys, V Balakrishnan, one of the two internal candidates being considered for the chief executive's post, has been given additional charge of the new utilities and resources vertical.
Last week, its global head of strategic sales, marketing and alliances Prasad Thrikutam resigned from the job marking the 11th senior management executive exit from Infosys since Murthy's return.
First acquisition under Sikka's plan of buying technologies for tomorrow
Sources said the spin-off, a joint venture company, was yet to be named.
Company feels automation is a big tool to drive down costs and improve efficiency
Pravin Rao says firms with revenue of $600-700 millon will be preferred.
Infosys has done better than otherwise would have been the case.
Interview with Infosys' CEO & MD.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
In the past two years, Sikka has brought in new measures by putting project managers to pitch how they cut time, saved costs and improved productivity
We have to really focus on improving productivity: infy, COO
The company expects around $40 million annualised revenue from the acquisition but declines to share financial details of the deal.
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