Industry Updates : IT Sector

2 Apr 2011: Wipro buys part of SAIC IT business for $150 mn 

Wipro Technologies announced the purchase of a portion of the IT business of Science Applications International Corporation (SAIC) for $150 million. The purchase covers only the IT business of the firm's oil and gas vertical which provides consulting, system integration and outsourcing services to oil majors.

2 Apr 2011: MindTree to restructure business, target $1 bn topline 

With a new chairman on board, MindTree said it will restructure business for a clearer focus that will help the firm achieve a billion-dollar topline in its "second phase" of growth.

As part of the rejig, MindTree will focus on five key verticals including banking and financial services, manufacturing, media, retail and travel and will reduce exposure to other sectors over time, which, in effect, implies that the company will be dropping a few businesses. Within its IT services business, it will stop focusing on energy and utilities and in its product engineering services (PES) portfolio, the company will not focus on medical electronics anymore.

1 Apr 2011: TCS bags multi-million dollar contract from Air Liquide 

Tata Consultancy Services (TCS) said it has received a multi-year, multi-million dollar contract to provide application support, maintenance and development services to US-based Air Liquide. Air Liquide, an international producer and distributor of cryogenic liquids and gases, is present in 80 countries with 42,300 employees.

1 Apr 2011: HCL Infosystems implements IT infrastructure project for ONGC

HCL Infosystems   announced the completion of a project awarded by ONGC for deployment of an IT infrastructure management solution at its network and security operations centre.

The project is aimed at providing a complete IT infrastructure management solution for various business applications and services of ONGC and to strengthen the security management in today's times of increasing security risk.

1 Apr 2011: Soota sticks to personal reasons in adieu note at MindTree 

IT veteran Ashok Soota bid adieu to MindTree, the company he co-founded over a decade ago. He once again sought to clarify that his departure was due to personal reasons, while maintaining that the company leadership has had healthy debates in the past. He said he would start a non-profit organisation and a new business venture.

30 Mar 2011: Microsoft to help IT startups in India 

Microsoft Corporation has decided to roll out an overall grant of $100,000 for IT startups in India, which are in the product space and specialize in IP creation. The initiative will be launched in mid-April and is aimed at strengthening the entrepreneurial ecosystem in the country.

30 Mar 2011: Indian IT major TCS to concentrate more on European market 

Tata Consultancy Services (TCS) said it will expand operations in Europe in sectors like healthcare. The Mumbai-headquartered IT giant derives about 27 per cent of its revenues from Europe.