14th april 2012: Infosys may lose 2nd spot to Cognizant; sees anaemic growth this fiscal
Infosys fell short of a revenue target it lowered twice during the financial year and forecast that growth would be anaemic, causing investors to dump a stock once regarded as the bellwether for the indian software industry.
With its forecast of 8-10% revenue growth during the year to march 2013, Infosys' guidance trails the growth estimate for the industry by NASSCOM and puts it in serious danger of being overtaken by rival cognizant as the second largest software exporter.
Other than the mortification of losing its place in the software industry pecking order, Infosys' underperformance could mean that it risks losing the confidence of investors and analysts who could question whether the management has a coherent strategy that is capable of delivering growth while protecting margins.
Other than the mortification of losing its place in the software industry pecking order, Infosys' underperformance could mean that it risks losing the confidence of investors and analysts who could question whether the management has a coherent strategy that is capable of delivering growth while protecting margins.
13th april 2012: Aegis refinances $190 million bridge loan with mix of debt, cash
Essar group company aegis said it has refinanced its $190 million bridge loan through a mix of a new five-year debt of $156 million and cash available on its books.
"Aegis has refinanced its bridge loan of $190 million by a mix of new five-year debt of $156 million and the balance out of cash available on the balance sheet," an aegis spokesperson said.
Comerica bank, Deutsche bank,ING, Macquarie, Societe Generale and UBS have participated in this deal, he added.
With this, outsourcing company aegis' overall debt stands reduced by $34 million, the spokesperson said.
The original book size that was coming up for refinancing was about $200 million, but the company has refinanced only to the tune of $156 million.
12TH APR, 2012: Serco launches new global BPO division, eyes $1 billion revenue
Services and consulting firm Serco on announced the launch of a new global BPO division and is targeting revenues in excess of $1 billion by the end of this year.
The new division is an amalgamation of the contracts and companies that deliver BPO services globally within Serco, including Intelenet global services in India, the listening company in the UK and Excelior in Australia, Serco said in a statement.
Last year, it had acquired Indian BPO company Intelenet for up to 385 million pounds (around rs 2,772 crore).
The new unit will improve the services of Serco provides to its customers and enable it to target global opportunities, both in the public and private sector.
The new division is an amalgamation of the contracts and companies that deliver BPO services globally within Serco, including Intelenet global services in India, the listening company in the UK and Excelior in Australia, Serco said in a statement.
Last year, it had acquired Indian BPO company Intelenet for up to 385 million pounds (around rs 2,772 crore).
The new unit will improve the services of Serco provides to its customers and enable it to target global opportunities, both in the public and private sector.
11TH APR, 2012: WestBridge-backed Indecomm BPO on sale for $250 million
Back-office firm Indecomm Global Services , founded by a former Unilever top gun, has initiated a sale process with the 10-year-old company valued at about $250 million.
Private equity investors WestBridge Capital, Tiger Global and promoter investor Naresh Ponnapa have mandated JP Morgan Chase to find buyers for the outsourcing firm, which has had discussions with IBM, Accenture and Cognizant Technology Services.
Indecomm's revenue is estimated at $120 million with operating profit in the vicinity of $25 million. A possible transaction may give Indecomm about two-fold valuations on current revenue.
Indecomm has over 3,500 employees servicing clients in the mortgage, e-learning and IT services space, according to the company website.
10 APR, 2012: GENPACT CRACKS CHINESE TECHNOLOGY SERVICES MARKET
India’s largest business process outsourcing firm Genpact claims to have cracked the Chinese technology services market. Asia's largest economy now accounts for almost 8% of Genpact's $1.6 billion revenues.
"We've cracked the market," says Tiger Tyagarajan, the chief executive. "Last year, China was the fastest growing market for us. Genpact China is expected to grow at about 35%, that's double the company's growth rate."
Genpact now has about 40 clients in China spread across five delivery centers. Four of these centers were added over the last 16 months.
"We've cracked the market," says Tiger Tyagarajan, the chief executive. "Last year, China was the fastest growing market for us. Genpact China is expected to grow at about 35%, that's double the company's growth rate."
Genpact now has about 40 clients in China spread across five delivery centers. Four of these centers were added over the last 16 months.
Next month, Genpact is taking its entire leadership team of 25 executives, to Dalian, China to learn more from the firm's experience in penetrating the Chinese market.
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