Infosys is on track to meet full year revenue guidance of 10%-12% growth, chief executive Vishal Sikka reportedly said.
Top News
Infosys on track to meet revenue guidance: Vishal Sikka
Infosys is on track to meet full year revenue guidance of 10%-12% growth, chief executive Vishal Sikka reportedly said.
The company is planning to implement new incentive structure that may include a different stock option plan, Sikka said at an investor conference.
Sikka also stated that said company bagged six major deals this quarter that would contribute more than $50 million in annual revenue.
Indian IT Services Market grew 7.1% yoy in CY 2014: IDC
According to IDC’s H2 2014 IT Services tracker data, the Indian IT Services market grew 7.1% year-on-year to reach Rs. 470,708.13 million (US$7,719mn) in calendar year 2014. During second half of 2014, compared to same period last year, the market saw slight uptick primarily on the back of higher demand for hosted infrastructure, hosted applications services, custom application development, IT consulting, and application management services. Besides this, there was a renewed focus on infrastructure projects.
Vivek Gautam, Research Manager, IT Services & Software IDC India says, “The expanding start up community and increasing technology adoption by Small & Medium Enterprises (SMEs), who favour OPEX as against CAPEX model of IT, is creating healthy demand for hosted infrastructure, hosted application, managed and datacentre services. The market for these services will continue to grow at rapid pace over next few years”.
Infosys sets up investment panel to oversee acquisitions: Reports
Infosys has formed an investment committee on its board to oversee new acquisitions and large investments, according to reports.
A report says that the committee is being chaired by new board member and managing director of Omidyar Network's India operations Roopa Kudva.
Infosys had cash and cash equivalents of about $5.2 bn, as of March 31, 2015.
The company is eyeing an ambitious target of $20 billion of revenue by 2020.
Domestic News
Ashok Lalla resigns from Infosys: Reports
Global Head - Digital Marketing for Infosys, Ashok Lalla has resigned from Infosys.
A report stated that Lalla will don a new hat as Digital Advisor to brands and agencies.
Ashok added, ". In my new role, I will advise brands on how to orchestrate the use of digital effectively to deliver greater business impact, and will work with the brands' leaders and their partners."
With 16 years of experience, Lalla has helped brands in perfecting digital presence and has extensive experience both as a client and an agency leader, says a report.
Wipro partners with COMPAREX
Wipro a leading global information technology, consulting and business process services company, announced a strategic alliance and partnership for its Microsoft Licensing Solution Provider (LSP) business in India with COMPAREX, a global IT service provider specializing in software procurement, license management and technology consulting. Wipro has been one of the largest Microsoft LSPs in India for over a decade.
With the licensing industry constantly maturing, the need to focus on core competencies such as providing IT and business services, managing client relationships etc. has intensified. Wipro has therefore formed a partnership alliance with COMPAREX India, to provide the back-office support for its Microsoft LSP business in India. This enables Wipro to focus on its customers with a resource-specific approach and ensures its ownership of the entire customer relationship.
Soumitro Ghosh, Chief Executive, Wipro Infotech said, “This partnership will undoubtedly increase the focus on growth strategies for both COMPAREX India and Wipro along with providing value to the Microsoft LSP customers in India.”
Mastek board appoints Jamshed Jussawalla as CFO
Mastek Ltd has announced that pursuant to the reconstitution of the Board of Directors of the Company, post the Scheme of Arrangement becoming effective, the following are the decisions taken by the Board of Directors of the Company at their Meeting held on June 01, 2015;
Accepted resignation of Radhakrishnan Sundar as Executive Director of the Company with effect from June 01, 2015 on his appointment as Executive Director of Minefields Computers Limited (to be renamed as Majesco Limited).
Accepted resignation of Ketan Mehta and Dr. Arun Maheshwari as Directors of the Company with effect from June 01, 2015 on their appointment as Directors of Minefields Computers Limited (to be renamed as Majesco Limited).
Just Dial approves buy-back of equity shares
Just Dial Ltd has announced that the Board of Directors of the Company at its meeting held on June 04, 2015, inter alia, has approved the proposal to buyback the fully paid-up equity shares of face value of Rs. 10 each of the Company (“Equity Shares”) from the shareholders of the Company on a proportionate basis through a tender offer (the “Buy-back”).
The Buy-back shall be up to 25% of the aggregate of paid-up capital and free reserves of the Company at a maximum price Rs. 1,550 per Equity Share, subject to the approval of the shareholders of the Company and approvals of statutory, regulatory or governmental authorities as may be required under applicable law.
Infosys completes acquisition of Skava
Infosys completed the acquisition of Kallidus Inc. (d.b.a Skava) and its affiliate, a leading provider of digital experience solutions, including mobile commerce and in-store shopping experiences to large retail clients.
The acquisition is in accordance with the terms set out in the agreement announced on April 24, 2015.
The acquisition of Skava is part of Infosys’ strategy to help clients bring new digital experiences to their customers through IP-led technology offerings, new automation tools and unparalleled skill and expertise in these new emerging areas.
IBM appoints former Infosys consulting head Stephen Pratt: Reports
Former Infosys consulting head Stephen R Pratt has joined the International Business Machines (IBM) where he will work on the company's pathbreaking Watson project, according to reports.
A report said that Pratt joins IBM this month and will be working out of the company's San Francisco and New York offices.
Prior to IBM, Pratt worked at TPG Capital, says report.
Infosys employees can wear casuals on weekdays
Infosys has allowed its employees to wear casuals even during the weekdays, says report.
The company reportedly said such a decision had taken into consideration the requests made in the past on various platforms.
Earlier, its staffers were allowed to wear casual clothes such as jeans only on Friday.
International News
Spending on Business Process Management suites to reach $2.7 bn in 2015: Gartner
Worldwide spending on business process management (BPM) software is set to grow 4.4 percent to reach $2.7 billion in 2015, according to the latest forecast from Gartner, Inc. As organizations are beginning their digital transformation — rethinking their business models and processes to address customer and constituent expectations — a shift toward using what Gartner terms an intelligent business process management suite (iBPMS) is underway.
Ahead of the Gartner Business Process Management Summit in Sydney next week, Gartner research director Rob Dunie said that managing business processes effectively is a difficult challenge for today's business leaders, because many of the systems that are used within processes are rigid and difficult to change rapidly.
Intel to acquire Altera for $16.7 bn
Intel Corporation and Altera Corporation announced a definitive agreement under which Intel would acquire Altera for $54 per share in an all-cash transaction valued at approximately $16.7 billion.
The acquisition will couple Intel's leading-edge products and manufacturing process with Altera's leading field-programmable gate array (FPGA) technology. The combination is expected to enable new classes of products that meet customer needs in the data center and Internet of Things (IoT) market segments. Intel plans to offer Altera's FPGA products with Intel Xeon processors as highly customized, integrated products. The companies also expect to enhance Altera's products through design and manufacturing improvements resulting from Intel's integrated device manufacturing model.
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