Wipro, India's fourth-largest IT services company, has secured an eight-year deal with Singapore-based Olam group, valued at over $1 billion, and will also acquire Olam's IT and digital services arm, Mindsprint, for $375 million, marking one of its largest contracts to date.
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.
Indian information technology (IT) services companies reported lacklustre growth in the second quarter, at a time when the macroeconomic environment did not deteriorate further. HCLTech emerged the best performer among India's top six IT services firms with a constant-currency growth rate of 4.6 per cent, even though uncertainties continued to persist.
The 15-year agreement will see Infosys develop a next-generation, data-driven workforce management platform to replace the existing electronic staff record (ESR) system, which annually manages a 55 billion payroll for 1.9 million NHS employees.
'Advanced skills is such a broad spectrum that a simple prompt engineer to a critical upper end LLM developer are clubbed under one.' 'In addition, some include their non-technical employees who can use AI tools under this talent base.'
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.
Wipro has once again chosen to bet on an insider who has grown through the ranks to lead the company. Srini Pallia has spent over three-decades at Wipro and it's the only company he has ever worked with. Till now, Pallia was heading the Americas-1 unit.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Software services major Wipro on Wednesday said its BPO has been rated among the top global Finance and Accounting (F&A) service providers by analyst firm HfS Research.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Trouble started brewing after Cognizant announced that Ravi Kumar, former Infosys president, would take over as the Nasdaq-listed company's CEO.
Where do Indian IT firms stand compared to their global peers in this journey of transformation? Ayan Pramanik seeks answers from IT services analyst Phil Fersht.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
He had said the sector was running on a treadmill of lowering costs
Experts, however, are of the opinion that a world manned mostly by bots is still some time away. Also, new jobs -- of bot builders and supervisors -- will emerge with time.
TCS, Infosys and others are banking on automation to protect their turf in the US, but building a successful revenue model around it may prove difficult
Infosys has tried to bring stability to the troubled company, which was struggling to maintain its growth momentum in the changing dynamics of technology industry.
Vishal Sikka has little time left to turnaround Infosys.
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