Wipro to acquire Citigroup's Indian IT subsidiaryDecember 22nd, 2008 BANGALORE - India's second largest IT bellwether Wipro Technologies Tuesday announced acquisition of Citi Technology Services, the India-based captive provider of IT services and solutions to Citigroup entities worldwide, for $127 million in an all-cash deal. As part of the deal, Wipro and Citi will sign a Master Services Agreement for delivery of technology infrastructure services and application development and maintenance services for six years, which is projected to accrue $500 million during the contract.
AIG strikes deal to sell India information technology unit to MphasiS for undisclosed amountAugust 13th, 2009 AIG reaches deal to sell Indian IT unit to MphasiSNEW YORK — American International Group reached a deal to sell another unit on Wednesday. The battered insurance giant will sell its AIG Systems Solutions Pvt.
IBM to acquire analytics software maker SPSS in all-cash deal worth $1.2BJuly 28th, 2009 IBM to acquire SPSS for $1.2BARMONK, N.Y. — IBM Corp.
IBM to purchase main operating assets of Wilshire CreditOctober 5th, 2009 IBM to buy Wilshire Credit's operating assetsARMONK, N.Y. — IBM Corp.
CDC Software to acquire business intelligence solutions for manufacturingOctober 5th, 2009 CDC to acquire business intelligence providerATLANTA — Business software developer CDC Software Corp. said Monday it has agreed to an all-cash purchase of a provider of business intelligence solutions for manufacturing intended to help expand its presence in the food and beverage, consumer packaged goods and automotive markets.
State Bank group deploys anti-money laundering softwareMarch 17th, 2009 BANGALORE - The State Bank of India (SBI) group deployed 3i Infotech software to prevent money laundering in compliance with the central bank's regulatory order, the bank said Tuesday. 'We have contracted with IT software product firm 3i Infotech to deploy its anti-money laundering solution across our group comprising SBI and six associate banks to monitor any suspicious transfer of money, including terror financing,' SBI chief general manager B.S.
Satyam fraud jeopardises its projects in Andhra PradeshJanuary 7th, 2009 HYDERABAD - The near Rs.7,000-crore (Rs.70 billion or $1.4 billion) financial fraud involving Satyam Computer has jeopardised infrastructure projects the firm's promoters had contracted in Andhra Pradesh, which includes the prestigious Hyderabad Metro rail project. Maytas Infra, the company promoted by Satyam chairman Ramalinga Raju's son B.
Bangalore software firm opens subsidiary in DubaiMarch 4th, 2009 BANGALORE - The city-based IT solutions firm Sonata Software has set up a wholly-owned subsidiary at Dubai Internet City in the United Arab Emirates (UAE) as its regional hub for expanding its presence in the Middle East and Africa, the company said Wednesday. 'Operating from the Dubai Internet City free zone, we will provide value-based IT solutions and strengthen our presence in the region by targetting market segments such as travel, tourism, hospitality and construction industry,' Sonata managing director B.
Board of computer network gear maker Emulex rejects unsolicited takeover bid by rival BroadcomMay 4th, 2009 Emulex board rejects Broadcom takeover bid
COSTA MESA, Calif. — Computer network gear maker Emulex Corp.
Bharat Sanchar Nigam ties up with MicrosoftJune 23rd, 2009 NEW DELHI - State-run telecom operator Bharat Sanchar Nigam Ltd (BSNL) Tuesday announced a long term partnership with Microsoft Corp to offer software solutions to its customers. The first product to be launched under the the BSNL Managed SaaS (Software as a Service) brand will be business mail services, the company said in a statement.
CarMax, E-Trade, Microsoft, Research in Motion are among big market movers FridayJune 20th, 2009 CarMax, E-Trade, Microsoft are big moversNEW YORK — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
CarMax Inc., up $2.22 at $15.31
Sales tumbled and its auto financing division posted a loss, but the auto retailer's CEO said traffic rose and sales execution improved. Sealy Corp., up 40 cents at $2.20
An analyst upgraded the mattress maker after it previewed second quarter results for investors ahead of its June 30 earnings report.
IBM signs $200M outsourcing deal with Indian telecommunications companyOctober 6th, 2009 IBM signs $200M outsourcing contract with telecomSAN FRANCISCO — IBM Corp. says it has won a $200 million contract to handle some technology chores for a company called Datacom Solutions as it rolls out telecommunications services in India.
Citi sells Indian IT arm to Wipro for $127 mnDecember 22nd, 2008 BANGALORE - The ailing global financial services firm Citigroup Inc is selling its India-based captive IT services subsidiary City Technology Services (CTS) to Wipro Technologies for $127 million (Rs.6.2 billion) in an all-cash deal, the IT bellwether announced here Tuesday. Of the total value for 100 percent equity, Wipro will pay $26 million in cash towards premium and $101 million for the assets of CTS in Mumbai and Chennai.
Anantara Solutions wins Cloud Computing dealJuly 22nd, 2009 CHENNAI - Anantara Solutions, the pioneer of Second Generation Outsourcing (SGO), today announced that it has won a Cloud Computing deal from Srini NewCo, a US-based start-up. Cloud Computing is one of the six distinguishing markers of SGO.
IBM inks $15-million deal with Eureka ForbesJune 8th, 2009 BANGALORE - IBM has signed a $15-million (Rs.71-million) outsourcing deal with Eureka Forbes Ltd., a leading Indian health and hygiene solutions firm, to provide business consulting, package implementation, infrastructure and application management services for five years, the global IT major said Monday. As part of the engagement, IBM's India subsidiary will take over the IT staff of Eureka Forbes and leverage its research expertise to help improve its customer's revenue with new tools.
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