21 Feb 2011: Tata Capital hires a former Temasek hand to push its Group PE Fund Plans
Tata Capital, a financial services unit of the salt-to-software group, has hired a former Temasek executive to push its billion-dollar private equity fund plans that will mostly invest in the group’s 90 companies, including the unlisted ones, that sell products in 80 countries.
The Tata group, which is getting back into financial services slowly after nearly a decade of hibernation, has hired Padmanabh Sinha of Singapore state’s Temasek Holdings. Mr Sinha will work with Mukund Rajan, formerly Tata Teleservices, in building the portfolio.
The Tata group, which is getting back into financial services slowly after nearly a decade of hibernation, has hired Padmanabh Sinha of Singapore state’s Temasek Holdings. Mr Sinha will work with Mukund Rajan, formerly Tata Teleservices, in building the portfolio.
20 Feb 2011: IT, BPO complex project in Kerala's Infopark kicks off
The foundation stone for the first IT/BPO complex, intended to create cost-effective infrastructure for the industry in Kerala's Infopark Phase-II, was laid. "Like past projects, Infopark will act as a single point developer of basic infrastructure facilities. On completion, the park will be able to provide employment to up to 85,000 professionals," said Infopark CEO Binu A.Pazhoor.
20 Feb 2011: KPO offers good opportunities for Indian entities: Gartner
Knowledge Process Outsourcing (KPO) offers good business opportunities for Indian entities, and will help them in providing high value services, according to Gartner.
As per the various estimates, the global KPO market is likely to be valued at more than USD 15 billion in the coming years.
KPO services would help domestic players in developing relationships with clients at higher levels, which "could then be leveraged to upsell and cross-sell".
KPO services would help domestic players in developing relationships with clients at higher levels, which "could then be leveraged to upsell and cross-sell".
Many IT players including Infosys, TCS, Wipro and Cognizant offer various KPO services.
According to a recent Gartner research paper, KPO services would likely offer a combination of better processing methodology and an intellectually skilled workforce based predominantly in an offshore location.
According to a recent Gartner research paper, KPO services would likely offer a combination of better processing methodology and an intellectually skilled workforce based predominantly in an offshore location.
20 Feb 2011: Fitch affirms top rating on IBM India Credit rating agency Fitch has affirmed top rating on technology major IBM India's on the back of its strong business performance and close ties with its parent company.
"Fitch Ratings has affirmed IBM India Pvt Ltd's national long-term rating at 'AAA (ind)'. The outlook is stable," Fitch said in a statement.
AAA rating symbolises the best quality companies, which are reliable and stable. It added that the rating has taken into account IBM India's strong strategic linkage to its parent entity.
The rating agency has also affirmed both AAA and F1+ rating on IBM India's USD 6 billion fund.
AAA and F1+ are the top ratings for long-term and short-term funds, respectively.
"Fitch Ratings has affirmed IBM India Pvt Ltd's national long-term rating at 'AAA (ind)'. The outlook is stable," Fitch said in a statement.
AAA rating symbolises the best quality companies, which are reliable and stable. It added that the rating has taken into account IBM India's strong strategic linkage to its parent entity.
The rating agency has also affirmed both AAA and F1+ rating on IBM India's USD 6 billion fund.
AAA and F1+ are the top ratings for long-term and short-term funds, respectively.
IBM India's has four broad areas of operations -- global business services, systems and technology, software, and global technology services.
19 Feb 2011: Accenture will increase India market focus, says new MD
Accenture sees a big opportunity in India with the aspiration of local companies to go global at an all-time high.
Accenture India's new managing director Avinash Vashistha said that clients globally had matured and their expectations too had changed. "They are looking for better insights and specific business outcomes of high value. Indian customers are no different and they too want to grow quickly and become global. This means a huge opportunity for us across multiple businesses," he said.
Sudin Apte, CEO of offshore advisory firm Offshore Insights, says Accenture has been ramping up its country market focus, “though the company has remained selective and picky on customer acquisition, mostly preferring bulky orders”. He expects a great deal of MNC focus in the times to come on verticals like telecom, healthcare, oil and gas, insurance, education and government.
18 Feb 2011: Satyam to pay $125 million to settle US suit Close on the heels of a settlement of a class action law suit in the US for $125 million, Mahindra Satyam is planning to sue the former Satyam management and the company's erstwhile auditor PriceWaterhouse for a possible monetary damages claim. The company is looking at moving the courts both in India and the US. This will help Mahindra Satyam bring down its financial liability arising out of the settlement.
18 Feb 2011: Convergys may spark buyout interest: Sources Convergys, which provides outsourced customer care and billing in places like India and the Philippines, reviewed strategic alternatives last summer, including the possible sale of the company or of certain assets.
No deal happened because prospective bidders offered prices that fell short of the board's expectations amid concern about the dynamics of the industry, which has been in flux over the last few years due to declining demand for outsourcing services.
Convergys has all the ingredients to become a target for a takeover of all or pieces of the company: an activist
shareholder, a new CEO, and an improving business model within a consolidating industry.
17 Feb 2011: Acropetal appoints consultancy firm for acquisition Bangalore-based IT and BPO firm Acropetal Technologies said it has roped in a top consultancy firm for its proposed acquisition plans.
The company is hopeful of closing the acquisition deal within three months of the closure of IPO. The key focus areas for Acropetal have been healthcare services, energy and environment services.
The company is hopeful of closing the acquisition deal within three months of the closure of IPO. The key focus areas for Acropetal have been healthcare services, energy and environment services.
17 Feb 2011: Race hots up for U K Sinha's successor
UTI Asset Management Company, has set in motion the process to select a new chief executive officer or CEO to succeed UK Sinha, who has been appointed as the chairman of the Securities and Exchange Board of India, or SEBI.
17 Feb 2011: Captive centres to grow sharply this year
The captive landscape in India will see a strong revival this year as IT services are being seen as differentiators and growth drivers by large global players rather than mere enablers. While in 2008-09, only five new ones were set up, this calendar the number of captives could shoot up to 30, consultancy Zinnov says.
Firms are looking at roping in captive centres for new ventures and more innovative work. For one, Wal-Mart has set up a captive in Bangalore to push its new e-commerce business, Walmart.com. This is despite the fact that the retail major had in 2009 outsourced IT work to Infosys, TCS and Wipro.
Others that have set up company-owned offshore centres in the past few months include US department store chain Sears, Fox Broadcasting Company, Swedish manufacturing major Saab and Northern Trust. French retail major Carrefour’s captive is also in the works.
Firms are looking at roping in captive centres for new ventures and more innovative work. For one, Wal-Mart has set up a captive in Bangalore to push its new e-commerce business, Walmart.com. This is despite the fact that the retail major had in 2009 outsourced IT work to Infosys, TCS and Wipro.
Others that have set up company-owned offshore centres in the past few months include US department store chain Sears, Fox Broadcasting Company, Swedish manufacturing major Saab and Northern Trust. French retail major Carrefour’s captive is also in the works.
15 Feb 2011: IBM plans to have 47 offices in India by 2013 With focus on the small and medium business (SMB) segment, IT giant IBM today said it plans to have 47 branch offices in India by 2013. About 15-17 branches shall be added every year. The company aims to accelerate sales by opening more branch offices in Tier-II and Tier-III cities and leverage from the local market eco-system.
15 Feb 2011: TCS targets $1 billion revenue from cloud computing services Tata Consultancy Services (TCS) commercially launched cloud computing services and said they could generate $1 billion in revenue over five years from the small and medium business segment.
Cloud computing helps users get access to hardware and software from companies like TCS on pay-per-use basis, without having to set up their own IT infrastructure.
Cloud computing helps users get access to hardware and software from companies like TCS on pay-per-use basis, without having to set up their own IT infrastructure.
15 Feb 2011: All founders of Sequoia Capital quit to form new fund
In one of the biggest management transitions in the Indian private equity industry, the entire founding team of Sequoia Capital has quit the firm to set up a new fund to invest in publicly-listed companies.
The four founders, KP Balaraj, Sumir Chadha, Sandeep Singhal and SK Jain, expect to have the new fund, Westbridge Public Fund, in place by the end of 2011.
The sudden and unexpected development—simultaneous mass exit of the founders of a PE fund has rarely happened in India—has turned the spotlight on the tension between those who seek to invest in the booming public markets and others who prefer the less volatile and quieter private route.
The four founders, KP Balaraj, Sumir Chadha, Sandeep Singhal and SK Jain, expect to have the new fund, Westbridge Public Fund, in place by the end of 2011.
The sudden and unexpected development—simultaneous mass exit of the founders of a PE fund has rarely happened in India—has turned the spotlight on the tension between those who seek to invest in the booming public markets and others who prefer the less volatile and quieter private route.
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