Cognizant Technology Solutions, which backed out from Satyam bidding at the last moment, is in talks with London-based Pa Consulting for a buyout deal valued at $300-350 million. The preliminary discussions with the privately-held technology-led consulting firm come even as Cognizant is actively scouting for acquisitions in the European market, sources said.
Cognizant is looking to strengthen its presence in the UK and Continental Europe, from where the company gets 20% of its revenue pegged at $2.89 billion. When contacted, Cognizant CFO Gordon Coburn said in an email response, “We do not comment on speculation in the marketplace.” At the same time, Pa Consulting said, “It is not our policy to publicise or discuss in the media any alliance or partnership arrangements, and we have no comment to make.”
As the talks are still in early stages, sources say there is some doubt on the outcome and the way the deal will be structured. Banking sources said Pa Consulting with its rather strong presence in verticals like healthcare and aerospace have been on the radar of Indian IT firms that are searching inorganic growth options. The 63-year old Pa reported revenues of $342 million for 2008, with profit of $9.4 million. It has 3,000 people spread across multiple geographies with offices in New Delhi and Bangalore. Sources said Cognizant’s consulting-led approach could give Pa, which has been facing rough weather of late, a synergistic push, sources added.
The target company’s revenue during 2007 was estimated at $472 million. Pa’s operating margins reported a significant drop from 13.4% in 2005 to nearly 3.5% in 2007. Cognizant has been very active in the marketplace looking at buying out companies that fits the profile - not necessarily large entities but with skill sets in a specific domain. The last major acquisition done by Cognizant was of marketRx, a US-headquartered analytics firm with sizeable Indian offshore presence, for $135 million in October 2007. In a recent interview with ET, Cognizant CEO Francisco D Souza had said, “The environment has improved and valuations have come down.” In terms of geography focus, Mr D Souza said, “Europe is at the tail end of our investment cycle. Most of our markets have reached critical mass.” It was also being speculated that Cognizant could be looking at larger publicly listed IT services companies like Thales SA, Ciber and Invensys. But there was no confirmation on any of these companies holding talks with Cognizant.
Many of the larger Indian IT companies have made acquisitions in Europe or actively scouting the market. In the recent past, HCL Technologies acquired UK based SAP services firm Axon, while Wipro snapped up NewLogic. Interest in Europe has increased, as Indian IT firms look for inorganic growth in markets outside the US that is going though a recession.
Source: http://economictimes.indiatimes.com/Cognizant-in-talks-to-buy-UK-firm-Pa-Consulting/articleshow/4422156.cms
Showing posts with label IT. Show all posts
Showing posts with label IT. Show all posts
Monday, April 20, 2009
Monday, April 13, 2009
Tech Mahindra wins bid for Satyam Computers
IT services provider Tech Mahindra is the new owner of Satyam Computer Services. The company bid the highest at Rs 58 per share, pipping Satyam Saga: Rise, fall and resurrection rivals engineering firm Larsen & Toubro and billionaire investor Wilbur Ross to the post.
According to sources who requested anonymity, engineering firm L&T made an offer of around Rs 49 for each Satyam share.
Tech Mahindra will have to pay Rs 1,757 crore to buy a 31% stake in Satyam Computer Services. The IT co will have a market cap of Rs 5,666 crore on expanded equity. Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam.
The acquisition will help the company, an arm of the Mahindra & Mahindra Group, to diversify into new areas instead of just depending on the telecom sector.
The Satyam acquisition will help Tech Mahindra diversify its software services business, and compete aggressively with bigger rivals such as TCS, IBM, Infosys and Wipro.
Satyam, which serves customers such as GE, GM and Ford will also help Tech Mahindra build a better portfolio of customers.
Satyam has a 46,600 strong work force, land assets of 450 crore, besides the order book position. Its liabilities include the legal liabilities arising out of the class action suits filed by shareholders in the US, besides any liability arising out of the tussle with UK based mobile payments services provider Upaid.
According to sources who requested anonymity, engineering firm L&T made an offer of around Rs 49 for each Satyam share.
Tech Mahindra will have to pay Rs 1,757 crore to buy a 31% stake in Satyam Computer Services. The IT co will have a market cap of Rs 5,666 crore on expanded equity. Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam.
The acquisition will help the company, an arm of the Mahindra & Mahindra Group, to diversify into new areas instead of just depending on the telecom sector.
The Satyam acquisition will help Tech Mahindra diversify its software services business, and compete aggressively with bigger rivals such as TCS, IBM, Infosys and Wipro.
Satyam, which serves customers such as GE, GM and Ford will also help Tech Mahindra build a better portfolio of customers.
Satyam has a 46,600 strong work force, land assets of 450 crore, besides the order book position. Its liabilities include the legal liabilities arising out of the class action suits filed by shareholders in the US, besides any liability arising out of the tussle with UK based mobile payments services provider Upaid.
Saturday, September 29, 2007
Wipro buys singapore design company
Wipro Technologies will acquire Oki Techno Centre Singapore (OTCS), a wholly-owned subsidiary of Oki Electric Industry, Japan, over a period of one year and this would be its second acquisition in the semiconductor space with the earlier one being NewLogic.
OTCS registered revenues of 8.8 million Singapore dollars for the fiscal year ended March 31, 2007 and has a 40-member team. Vasudevan Aghoramoorthy, V-P, Wipro Technologies said, this acquisition will enable them to meet the demand for newer wireless technologies and also expand its breadth of offering in the semiconductor design space.
For the first time, Wipro Technologies has made an acquisition in the Far East region with all its previous buyouts in the US and Europe.
OTCS is focussed on wireless design and has capabilities in radio frequency (RF) technologies. It mainly works for the parent company with some third party clients and Wipro expects to provide solutions for the semiconductor companies.
(Source: Economic Times)
OTCS registered revenues of 8.8 million Singapore dollars for the fiscal year ended March 31, 2007 and has a 40-member team. Vasudevan Aghoramoorthy, V-P, Wipro Technologies said, this acquisition will enable them to meet the demand for newer wireless technologies and also expand its breadth of offering in the semiconductor design space.
For the first time, Wipro Technologies has made an acquisition in the Far East region with all its previous buyouts in the US and Europe.
OTCS is focussed on wireless design and has capabilities in radio frequency (RF) technologies. It mainly works for the parent company with some third party clients and Wipro expects to provide solutions for the semiconductor companies.
(Source: Economic Times)
Monday, September 3, 2007
Infy, Wipro chase same target for the first time
India’s tech posterboys and cross-town rivals Infosys Technologies and Wipro have shown interest in buying out the US-based high-end analytics company MarketRx. The indicative valuation of MarketRx is seen between $150 million and $160 million (Rs 615-650 crore), sources said.
This is probably the first time the Bangalore-headquartered Infosys and Wipro are seen chasing the same company for a possible acquisition. MatrixRx’s $160-million valuation is five times its revenue, the sources added. It is believed that the promoter expectation is “slightly north of this valuation”.
It is learnt that four-five suitors have expressed interest in MarketRx after the company mandated William Blair & Company in the US and Avendus in India to explore options, which could lead to a possible sellout. “The promoters are exploring various options regarding the future and will take an appropriate decision. The process is on,” said a source familiar with the developments.
For software services biggies like Wipro and Infosys, the acquisition will give a headstart in the analytics segment of the knowledge process outsourcing (KPO) segment, as it takes considerable time to build one’s practice organically in this business.
Industry observers said analytics services bring in higher revenue per employee compared to conventional IT services. The rates of analytics services range between $30 and $60 per hour while some high-skilled statistical modeling processes attract up to $150 per hour.
Wipro has been focusing on inorganic growth, with its now famous string of pearls strategy. Infosys, on the other hand, is getting aggressive on the M&A front. A target like MarketRx provides the BPO arms of both Wipro and Infosys a platform to get into transformational business deals.
Unconfirmed reports suggested that BPO major WNS could be also in the fray, but Gurgaon-based company is unlikely to join the race. Early this year, WNS acquired another analytics firm Marketics for $65 million, valuing it almost 10 times its annual revenue.
MarketRx was started in 2000. It has over 350 employees spread across the US, Europe and India. Its list of investors includes the US-based venture fund Sequoia Capital. The India operations were started with the Gurgoan centre in 2003 and support the US teams on collaborative projects besides servicing European and Asia-Pacific clients. MarketRx has more than 75 small and big pharma, biotechnology and medical devices companies as its clients.
Third-party analytics is growing steadily in India with more players entering the space, but currently it being dominated by captive units of MNCs, especially the financial powerhouses.
(Source: Economic Times)
This is probably the first time the Bangalore-headquartered Infosys and Wipro are seen chasing the same company for a possible acquisition. MatrixRx’s $160-million valuation is five times its revenue, the sources added. It is believed that the promoter expectation is “slightly north of this valuation”.
It is learnt that four-five suitors have expressed interest in MarketRx after the company mandated William Blair & Company in the US and Avendus in India to explore options, which could lead to a possible sellout. “The promoters are exploring various options regarding the future and will take an appropriate decision. The process is on,” said a source familiar with the developments.
For software services biggies like Wipro and Infosys, the acquisition will give a headstart in the analytics segment of the knowledge process outsourcing (KPO) segment, as it takes considerable time to build one’s practice organically in this business.
Industry observers said analytics services bring in higher revenue per employee compared to conventional IT services. The rates of analytics services range between $30 and $60 per hour while some high-skilled statistical modeling processes attract up to $150 per hour.
Wipro has been focusing on inorganic growth, with its now famous string of pearls strategy. Infosys, on the other hand, is getting aggressive on the M&A front. A target like MarketRx provides the BPO arms of both Wipro and Infosys a platform to get into transformational business deals.
Unconfirmed reports suggested that BPO major WNS could be also in the fray, but Gurgaon-based company is unlikely to join the race. Early this year, WNS acquired another analytics firm Marketics for $65 million, valuing it almost 10 times its annual revenue.
MarketRx was started in 2000. It has over 350 employees spread across the US, Europe and India. Its list of investors includes the US-based venture fund Sequoia Capital. The India operations were started with the Gurgoan centre in 2003 and support the US teams on collaborative projects besides servicing European and Asia-Pacific clients. MarketRx has more than 75 small and big pharma, biotechnology and medical devices companies as its clients.
Third-party analytics is growing steadily in India with more players entering the space, but currently it being dominated by captive units of MNCs, especially the financial powerhouses.
(Source: Economic Times)
Monday, August 20, 2007
PE Texas, Apax to buy stake in Patni
Private equity firms Texas Pacific Group and Apax Partners are close to buying some of the founders' stake in India's Patni Computer Systems Ltd, a newspaper reported on Monday, citing unnamed sources.
Gajendra and Ashok Patni, two of the three brothers who founded the software services firm, are looking to sell their stake, local media had earlier reported.
Their holding in the company totals to about 29 per cent. The agreement between one of the private equity partners and the Patni brothers is likely to be signed next month, the media said.
A spokeswoman for New York-listed Patni, which counts General Electric Co and ABN AMRO among its clients, said the company had no comment to make on the report. Chairman and Chief Executive Narendra Patni, who holds about 15 per cent of the company, will buy out a part of the stake on offer while the private equity firms will pick up the remaining, the daily said.
(Source: Economic Times )
Gajendra and Ashok Patni, two of the three brothers who founded the software services firm, are looking to sell their stake, local media had earlier reported.
Their holding in the company totals to about 29 per cent. The agreement between one of the private equity partners and the Patni brothers is likely to be signed next month, the media said.
A spokeswoman for New York-listed Patni, which counts General Electric Co and ABN AMRO among its clients, said the company had no comment to make on the report. Chairman and Chief Executive Narendra Patni, who holds about 15 per cent of the company, will buy out a part of the stake on offer while the private equity firms will pick up the remaining, the daily said.
(Source: Economic Times )
Tuesday, August 7, 2007
Wipro to buy Infocrossing for $600m
IT major Wipro Ltd said on Monday it is buying Nasdaq-listed Infocrossing Inc in a deal that values the acquisition target at about $600 million.
Wipro has offered to pay $18.70 per share of the New Jersey-based company that provides select outsourcing services to mid-sized companies in the United States, said Wipro's Chief Financial Officer Suresh Senapaty.
The acquisition, the biggest-ever by an Indian services company, will help Wipro enhance its offerings to customers, especially those involving off-shoring of technology infrastructure services by Western companies to low-cost destinations like India, he said.
``We have been pursuing organic growth, and at the same time looking for inorganic opportunity,'' Senapaty said. ``Infocrossing is a perfect fit (for Wipro).''
The board of Infocrossing has approved and recommended the deal to its shareholders. The offer from Wipro represents a 6 per cent premium over the last closing price of Infocrossing shares, he said. Wipro plans to make an open offer to buy all outstanding shares of the company.
The transaction, which is subject to regulatory approvals, is expected to be completed by December, Wipro said, adding that the takeover will be funded from its own cash reserves.
Infocrossing operates five data centers and employs about 900 people. Its sales totaled US$229 million last year, leaving the company with a net profit of $8.4 million, an Wipro statement said.
(Source: Economic Times)
Wipro has offered to pay $18.70 per share of the New Jersey-based company that provides select outsourcing services to mid-sized companies in the United States, said Wipro's Chief Financial Officer Suresh Senapaty.
The acquisition, the biggest-ever by an Indian services company, will help Wipro enhance its offerings to customers, especially those involving off-shoring of technology infrastructure services by Western companies to low-cost destinations like India, he said.
``We have been pursuing organic growth, and at the same time looking for inorganic opportunity,'' Senapaty said. ``Infocrossing is a perfect fit (for Wipro).''
The board of Infocrossing has approved and recommended the deal to its shareholders. The offer from Wipro represents a 6 per cent premium over the last closing price of Infocrossing shares, he said. Wipro plans to make an open offer to buy all outstanding shares of the company.
The transaction, which is subject to regulatory approvals, is expected to be completed by December, Wipro said, adding that the takeover will be funded from its own cash reserves.
Infocrossing operates five data centers and employs about 900 people. Its sales totaled US$229 million last year, leaving the company with a net profit of $8.4 million, an Wipro statement said.
(Source: Economic Times)
Thursday, July 26, 2007
General Atlantic to put in Rs 242 cr in IBS
General Atlantic, a private equity player, today announced an investment of $60 million (Rs 242 crore) in Kerala-based IBS Software Services -- which provides IT solutions for the transport and logistic industries -- to pick up a minority stake.
IBS is also building two campuses in India with an estimated cost of Rs 200 crore -- one in Thiruvananthapuram and another in Kochi with a capacity to accommodate 8,000 people. The campuses will be used for product development and support services for the travel, transport and logistics verticals. The first phase of the centre in Thiruvananthapuram will be operational in a few months time.
Meanwhile, IBS is looking at acquiring a US-based aircraft maintenance and repair solution company, and planning to foray into the shipping and ports vertical by designing customised solutions.
As part of the shipping vertical, IBS Software has already formed a core group of intelligence (CGI) by including representatives from various international ports and shipping companies.
(Source: Business Standard)
IBS is also building two campuses in India with an estimated cost of Rs 200 crore -- one in Thiruvananthapuram and another in Kochi with a capacity to accommodate 8,000 people. The campuses will be used for product development and support services for the travel, transport and logistics verticals. The first phase of the centre in Thiruvananthapuram will be operational in a few months time.
Meanwhile, IBS is looking at acquiring a US-based aircraft maintenance and repair solution company, and planning to foray into the shipping and ports vertical by designing customised solutions.
As part of the shipping vertical, IBS Software has already formed a core group of intelligence (CGI) by including representatives from various international ports and shipping companies.
(Source: Business Standard)
Tuesday, July 24, 2007
Patni Acquires Life Sciences Services Company Taratec for $27 million
Patni Computer Systems, a global IT services provider, announced the acquisition of Bridgewater, N.J.-based Taratec Development Corp. through Patni Computer Systems Inc. a wholly owned subsidiary of the Company, for an aggregate price of $27.2 million in cash including contingent consideration. With more than $20m in annual revenues, Taratec is a leading consulting company in the life sciences industry providing integrated business, information technology, and regulatory compliance products and services.
This acquisition is in line with Patni’s strategy of enhancing its market specific services and provides additional capability to support thegrowing and diverse requirements of the Life Sciences market, from pharmacovigilance to demand-driven supply chains. Patni can now offera global delivery model that provides end-to-end capabilities complete with established, life science expertise in specific, high-demand areas
(Source: Patni Press Release)
This acquisition is in line with Patni’s strategy of enhancing its market specific services and provides additional capability to support thegrowing and diverse requirements of the Life Sciences market, from pharmacovigilance to demand-driven supply chains. Patni can now offera global delivery model that provides end-to-end capabilities complete with established, life science expertise in specific, high-demand areas
(Source: Patni Press Release)
Monday, July 16, 2007
Mastek buys US-based TPA for $9mn
Mastek, a Mumbai-based IT services firm, has acquired Vector Insurance Services (Vector) - a US-based technology solutions provider and third party administrator that focuses on the North American life & annuity insurance industry.
According to a release issued by Mastek to the BSE today, MajescoMastek, the company's wholly-owned US subsidiary, will hold 90% stake in Vector. Vector will operate as VectorMastek.
The consideration for the acquisition will be paid partly in cash ($4.5 million) and partly by way of future cash earn outs ($4.5 million) over two years, the release added.
(Source: Business Standard )
According to a release issued by Mastek to the BSE today, MajescoMastek, the company's wholly-owned US subsidiary, will hold 90% stake in Vector. Vector will operate as VectorMastek.
The consideration for the acquisition will be paid partly in cash ($4.5 million) and partly by way of future cash earn outs ($4.5 million) over two years, the release added.
(Source: Business Standard )
Friday, July 13, 2007
VSoft buys Coopman Consultancy
Hyderabad-based VSoft, a provider of financial technology solutions, has acquired Coopman Consultancy Services, a Bangalore-based software development and consultancy firm, for an undisclosed amount.
Following the acquisition, Coopman’s core banking software, a product designed for use in cooperative banks, regional rural banks and credit societies, will come under the VSoft umbrella. It will add 30 banks to VSoft’s customer base besides opening up opportunities for its other products such as cheque truncation, document imaging and management information system tools in this segment.
VSoft sees substantial growth in the cooperative banking sector and this acquisition is part of the growth strategy. The potential business in the cooperative banking segment is approximately Rs 400 crore and VSoft expects to capture at least 25 per cent of this in the next three years.
(Source: Business Standard)
Following the acquisition, Coopman’s core banking software, a product designed for use in cooperative banks, regional rural banks and credit societies, will come under the VSoft umbrella. It will add 30 banks to VSoft’s customer base besides opening up opportunities for its other products such as cheque truncation, document imaging and management information system tools in this segment.
VSoft sees substantial growth in the cooperative banking sector and this acquisition is part of the growth strategy. The potential business in the cooperative banking segment is approximately Rs 400 crore and VSoft expects to capture at least 25 per cent of this in the next three years.
(Source: Business Standard)
Thursday, July 12, 2007
Megasoft to acquire US company for Rs 260 cr
Chennai-based Megasoft and US-based Boston Communications Group (BCGI) today announced a definitive agreement, whereby Megasoft would acquire the Nasdaq-listed company for around $65 million (around Rs 260 crore) — $3.60 a share — that works out to 83 per cent of the total equity shares of the entity. The offer price includes a premium of 80 per cent compared with the traded value of $2 a share on Saturday.
The two companies are into products and services, including real-time charging, billing, pre-paid products and managed services catering to the wireless telecom space.
The acquisition will not only double our revenue, but also offer a great strategic value in terms of access to North American and Latin American markets, besides the big-ticket clients the BCGI has on its rolls.
(Source: Business Standard)
The two companies are into products and services, including real-time charging, billing, pre-paid products and managed services catering to the wireless telecom space.
The acquisition will not only double our revenue, but also offer a great strategic value in terms of access to North American and Latin American markets, besides the big-ticket clients the BCGI has on its rolls.
(Source: Business Standard)
Monday, July 9, 2007
Hinduja BPO may offer consultancy, keen on US acquisition
HTMT Global Solutions, the ITES firm of the Hinduja Group, is looking at bringing in consultancy to its portfolio of services and this could preferably be done through an acquisition. The company would be looking at acquiring a mid-sized consulting firm in the US.
The company, which provides both back office and voice services, will be able to move up the value chain with the new service, HTMT Global CEO Partha Sarkar said.
Mr Sarkar said the company will be expanding its presence into tier 2 cities in India. It currently has presence in Mysore, Karnataka and Durgapur in West Bengal and is looking at adding two more locations by the end of this fiscal. It plans to raise the headcount to 12,500 by the end of this fiscal from the current 10,000.
The company is also looking at extending its presence to Latin America in the next fiscal. It has 19 delivery centres across the US, Canada, Mauritius, the Philippines and India. The US and Canada presence was expanded through the acquisition of Affina for $30 million last year.
The company, which has an existing revenue of Rs 585 crore, with reserves of about $115 million, is looking at becoming a $500 million company by 2010 through both organic and inorganic growth route.
(Source: Economic Times)
The company, which provides both back office and voice services, will be able to move up the value chain with the new service, HTMT Global CEO Partha Sarkar said.
Mr Sarkar said the company will be expanding its presence into tier 2 cities in India. It currently has presence in Mysore, Karnataka and Durgapur in West Bengal and is looking at adding two more locations by the end of this fiscal. It plans to raise the headcount to 12,500 by the end of this fiscal from the current 10,000.
The company is also looking at extending its presence to Latin America in the next fiscal. It has 19 delivery centres across the US, Canada, Mauritius, the Philippines and India. The US and Canada presence was expanded through the acquisition of Affina for $30 million last year.
The company, which has an existing revenue of Rs 585 crore, with reserves of about $115 million, is looking at becoming a $500 million company by 2010 through both organic and inorganic growth route.
(Source: Economic Times)
Friday, July 6, 2007
Rolta to buy Canada's Orion Technology
Indian software firm Rolta on Friday said it was signing an agreement to acquire the Canadian software firm Orion Technology for an undisclosed amount.
Without disclosing the deal size, Rolta, in a statement here said it expected to generate around $100 million over the next five years by integrating the acquired technology from Orion, which specialized in enterprise web-GIS (geographical information systems) solutions.
Orion will continue its operations under the same name from its headquarters in Canada, and would be managed and operated by the management team that is currently in place.
Orion's founder and chairman Zul Jiwani said: "We are excited about becoming a part of the Rolta group. This fulfils our aspiration to have a global reach for promoting widespread use of our products and services.
(Source: Economic Times)
Without disclosing the deal size, Rolta, in a statement here said it expected to generate around $100 million over the next five years by integrating the acquired technology from Orion, which specialized in enterprise web-GIS (geographical information systems) solutions.
Orion will continue its operations under the same name from its headquarters in Canada, and would be managed and operated by the management team that is currently in place.
Orion's founder and chairman Zul Jiwani said: "We are excited about becoming a part of the Rolta group. This fulfils our aspiration to have a global reach for promoting widespread use of our products and services.
(Source: Economic Times)
Wipro buys Singapore's Unza for $246 mn
India's third-largest software services exporter, Wipro Ltd, has acquired Singapore's Unza Holdings Ltd for about $246 million in cash, the company said on Friday.
New York-listed Wipro, which also has interests in consumer care and lightings, expects to complete the 100 per cent acquisition by end-July, it said in a statement. Unza is a maker of personal care products with operations in over 40 countries. It has manufacturing plants in Malaysia, Vietnam, China and Indonesia. Wipro, which gets a bulk of its revenue by providing IT solutions and services such as systems integration, software application development and maintenance, has been buying up firms to accelerate growth.
(Source: Economic Times)
New York-listed Wipro, which also has interests in consumer care and lightings, expects to complete the 100 per cent acquisition by end-July, it said in a statement. Unza is a maker of personal care products with operations in over 40 countries. It has manufacturing plants in Malaysia, Vietnam, China and Indonesia. Wipro, which gets a bulk of its revenue by providing IT solutions and services such as systems integration, software application development and maintenance, has been buying up firms to accelerate growth.
(Source: Economic Times)
Thursday, July 5, 2007
Patni acquires Logan-Orviss
Patni Computer Systems, a Mumbai-based IT services provider, today announced the acquisition of Europe-based Logan-Orviss International (LOI), a leading independent specialist telecommunications consulting services company.
The acquisition includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended 2006 with revenues of ¤11.8 million.
The current acquisition strengthens Patni’s capability in the communications and media practice. Logan-Orviss International will become Patni’s telecommunications consulting and advisory practice, and will be led by Brendan Logan and Colin Orviss, the firm’s co-founders.
(Source: Business Standard)
The acquisition includes an upfront cash payment on completion of the transaction as well as performance-linked incentive payments on achieving financial targets over a three-year period. LOI ended 2006 with revenues of ¤11.8 million.
The current acquisition strengthens Patni’s capability in the communications and media practice. Logan-Orviss International will become Patni’s telecommunications consulting and advisory practice, and will be led by Brendan Logan and Colin Orviss, the firm’s co-founders.
(Source: Business Standard)
Sunday, July 1, 2007
Cranes Soft buys Proland, Caravel
Cranes Software has acquired the Bangalore-based anti-virus software maker Proland Systems Ltd, and Caravel Info Systems.
Cranes has spent Rs 20 crore towards the acquisition cost of Proland and the immediate investments in product enhancement.
(Source: Business Line )
Cranes has spent Rs 20 crore towards the acquisition cost of Proland and the immediate investments in product enhancement.
(Source: Business Line )
Saturday, June 30, 2007
TCS explores merger of group firms
The country's leading information technology (IT) services provider, Tata Consultancy Services (TCS), will explore the option of merging some of its group companies
Speaking at the company's second Annual General Meeting (AGM), Tata Group chairman, Ratan N Tata, said: "It makes sense merging some of the group companies. However, Tata Elxsi is into animation and will be a standalone business." He, however, did not specify any name. IT solutions provider CMC, Elxsi and Tata Technologies are the other IT companies of the group.
Answering a shareholder's concern on why Indian IT companies cannot be the next Microsoft or Cisco of the world, Tata remarked: "This is something that I have been discussing with Rama (Ramadorai). But I feel that products come from markets that are close to such market places and US provides that market. We might look at creating a product group in US and treat it as a venture capitalist activity by TCS." The Tata group company, he added, is aiming to become one of the top 10 global IT companies by 2010.
(Source: Business Standard )
Speaking at the company's second Annual General Meeting (AGM), Tata Group chairman, Ratan N Tata, said: "It makes sense merging some of the group companies. However, Tata Elxsi is into animation and will be a standalone business." He, however, did not specify any name. IT solutions provider CMC, Elxsi and Tata Technologies are the other IT companies of the group.
Answering a shareholder's concern on why Indian IT companies cannot be the next Microsoft or Cisco of the world, Tata remarked: "This is something that I have been discussing with Rama (Ramadorai). But I feel that products come from markets that are close to such market places and US provides that market. We might look at creating a product group in US and treat it as a venture capitalist activity by TCS." The Tata group company, he added, is aiming to become one of the top 10 global IT companies by 2010.
(Source: Business Standard )
Friday, June 29, 2007
Capgemini bid media 'speculation': Infosys
Infosys Technologies, India's second-biggest software-maker, dismissed as "speculation" media reports on Friday that it will bid for Paris-based consultancy Capgemini, a firm with more than three times its annual sales.
Bangalore-based Infosys will use cash reserves amounting to Rs 62 billion ($ 1.5 bn) to fund the takeover bid for Capgemini, the Times of India reported, citing industry sources and people close to the matter.
Infosys will be able to reinforce its business in Europe by buying Capgemini; it will help build key relationships for its IT business. Still, Capgemini may be "too big" for Infosys to buy.The European consultancy had $ 10.35 billion in annual sales last year, compared with Infosys' $ 3.1 billion. But Capgemini made half the profit logged by Infosys and commanded less than half its market value of $ 27 billion dollars. The planned takeover of Capgemini is in line with a declared policy "to strike at the right target at the right time and the right place," The Times of India quoted sources close to the matter as saying.
The report comes less than three months after Infosys shuffled key management positions, promoting chief executive Nandan Nilekani to chairman and setting him free from day-to-day operations to map growth strategies. Chief operating officer Kris Gopalakrishnan was named chief executive. The company, a pioneer of the outsourcing boom in India's software industry, is preparing for greater competition amid rising wages and a strengthening rupee that is denting export earnings.
(source: Economic Times)
Bangalore-based Infosys will use cash reserves amounting to Rs 62 billion ($ 1.5 bn) to fund the takeover bid for Capgemini, the Times of India reported, citing industry sources and people close to the matter.
Infosys will be able to reinforce its business in Europe by buying Capgemini; it will help build key relationships for its IT business. Still, Capgemini may be "too big" for Infosys to buy.The European consultancy had $ 10.35 billion in annual sales last year, compared with Infosys' $ 3.1 billion. But Capgemini made half the profit logged by Infosys and commanded less than half its market value of $ 27 billion dollars. The planned takeover of Capgemini is in line with a declared policy "to strike at the right target at the right time and the right place," The Times of India quoted sources close to the matter as saying.
The report comes less than three months after Infosys shuffled key management positions, promoting chief executive Nandan Nilekani to chairman and setting him free from day-to-day operations to map growth strategies. Chief operating officer Kris Gopalakrishnan was named chief executive. The company, a pioneer of the outsourcing boom in India's software industry, is preparing for greater competition amid rising wages and a strengthening rupee that is denting export earnings.
(source: Economic Times)
Tuesday, June 19, 2007
Wipro set to acquire German firm
Wipro Technologies, an information technology and outsourcing company, is poised to acquire the IT arm of a major company in Germany. The company has initiated talks with potential targets in Germany, even though the names were kept under wraps.
All major companies — BMW, Lufthansa, BASF and Siemens — have captive IT organisations in Germany. While automobile major BMW has an IT subsidiary, Softlab, with SAP capabilities, German airline major Lufthansa runs Lufthansa Systems, the third biggest IT vendor in Germany. BASF’s IT services division and a host of small companies could also be on the Indian IT major’s radar.
The company is on the lookout for acquisition that would help it gain a presence in the continent and embark on a much faster growth rate.
(Source: Business Standard)
All major companies — BMW, Lufthansa, BASF and Siemens — have captive IT organisations in Germany. While automobile major BMW has an IT subsidiary, Softlab, with SAP capabilities, German airline major Lufthansa runs Lufthansa Systems, the third biggest IT vendor in Germany. BASF’s IT services division and a host of small companies could also be on the Indian IT major’s radar.
The company is on the lookout for acquisition that would help it gain a presence in the continent and embark on a much faster growth rate.
(Source: Business Standard)
Subscribe to:
Posts (Atom)
