Roamware acquisition outlines strategy to lead in global mobile financial services

July 9th, 2009 SAN JOSE - Roamware Inc, the global leader in mobile roaming solutions and software, today announced the launch of SIM Box DetectorT, a next generation fraud detection solution. SIM Boxes, or GSM Gateways, were designed originally, for a variety of legal applications but fraudsters quickly hit on their potential to terminate international inbound calls and intercept revenue rightly due to network operators.

July 10th, 2009 JOHANNESBURG - Aegis Ltd, a Gurgaon-based business process outsourcing (BPO) provider and part of the Essar group, has announced the 100 percent acquisition of South African contact centre outsourcer CCN group. The acquisition, announced Thursday, is expected to boost South Africa's economy through a 500 million rand ($60 million) injection over three years and create 5,000 jobs.

June 17th, 2009 NEW DELHI - Targeting users of business and smart phones, computer services major IBM Wednesday announced a $100-million investment in the mobile services space globally, including India. "IBM is investing to create technology in its labs that brings simple, easy-to-use services to the millions of people who have bypassed the personal computer as their primary method of accessing the Internet, and instead use their mobile devices for conducting financial transactions, entertainment, shopping and more," IBM said in a statement.

December 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.

June 16th, 2009 BANGALORE - Nucleus Software Exports Ltd has tied up with Mexican consulting and distribution firm Praxis to market its software products in the Latin American country, the leading IT products firm said Tuesday. As our channel partner, Praxis will distribute our software products in the banking, insurance and financial services (BFSI) sector in the Mexican market and enable us to strengthen our presence in Latin America, Nucleus global sales head Niraj Vedwa said in a statement.

January 11th, 2009 HYDERABAD - Disgraced former chairman of Satyam Computer Services B. Ramalinga Raju has confessed before investigators that he manipulated the balance sheet of the company for the last seven years to attract more business and avoid any possible hostile acquisition.

March 17th, 2009 NEW DELHI - vCustomer Corporation, a leader in delivering comprehensive customer care and technical support solutions, today announced that it had been recognized as one of the top 100 global service providers for 2009 according to Global Services magazine and neoIT, an outsourcing advisory firm. This list represents companies who have the maturity and capability to lead the next wave of services globalization.

July 25th, 2009 NEW YORK - PayPal is set to become the first truly global platform for payment. San Jose-based PayPal, which is a company of eBay, announced Friday that it plans to open its online payment platform to third-party developers.

January 27th, 2009 NEW DELHI - Though the third generation (3G) mobile spectrum auctions may happen anytime soon, the final rollout of services will likely be delayed in the long run. The reason: private telecom operators have not yet placed any orders for new equipment with the vendors.

April 28th, 2009 MUMBAI - InnoPath Software, the leader in over-the-air customer care for mobile operators, is pleased to announce the continuation of the company's global expansion with the opening of a wholly owned subsidiary in Mumbai. The rapid growth and development of the region and in particular India are drivers behind this move, an addition that will place sales and support staff in the country.Customer care delivered via Mobile Device Management (MDM) provides operators with a way to reduce operational expenses, increase customer satisfaction, and deploy new services with confidence.

June 17th, 2009 BANGALORE - The declining trend in demand for outsourcing IT services has been arrested and conditions for recovery are clearer, a senior official of IT bellwether Tata Consultancy Services (TCS) said here Wednesday. "We feel the conditions are little clearer in the sense demand for outsourcing in terms of decline arising out of global meltdown seems to have been arrested," TCS chief financial officer S.

December 31st, 2008 BANGALORE - Beleaguered Satyam Computer Services is heading for a major shakeout or a takeover following its bid to diversify from its core business into the realty sector, a study by global technology research firm Forrester Research Inc has said. 'The management's attempt to shift the company strategy from the current business model has raised a red flag for Satyam accounts and prospects.

March 5th, 2009 CHENNAI - Global audit firm PricewaterhouseCoopers (PwC) is cleaning up its Indian stables in the wake of the accounting scandal in Satyam Computer Services. According to a statement by the firm, an advisory board is being set up to provide guidance to the PwC leadership on its strategy and actions.

August 5th, 2009 KOLKATA - Outsourcing major Wipro is actively looking at overseas acquisitions, a top company official said here Wednesday. "As far as acquisition is concerned, we are already active in that area and we will continue to remain active.

March 26th, 2009 WASHINGTON - International Business Machines (IBM) Corp. plans to lay off about 5,000 US employees, with many of the jobs being transferred to India, a media report said Thursday.