The erstwhile Satyam Computer Services and Tech Mahindra announced details of their planned merger, saying the whole will be greater than the sum of their parts and positioning themselves as a player with the potential to challenge India's top-tier software companies.
The merger ratio, at 17 shares of Mahindra Satyam for two Tech Mahindra shares, was along expected lines, valuing the former Satyam at $1.8 billion (Rs 9,000 crore). CP Gurnani, the chief executive of Mahindra Satyam who oversaw the difficult transition of a fraud-hit firm to normalcy, will be the head of the combined entity, whose name has not yet been chosen. "It is a marriage made in heaven," Gurnani said on Wednesday about the merger, which becomes effective from April 2011.
Thursday, March 22, 2012
new openings, TCS
Tata Communications to hire 1,200 new staff, may raise debt
Tata Communications will recruit an extra 1,200 staff over the next 12 months in its outsourcing, sales and engineering divisions as it tries to turn around nearly three years of losses, the firm's CEO said on Wednesday.
The operator will also consider upping its debt if the potential returns justify it, Vinod Kumar, Tata Communications chief executive, told Reuters. Kumar declined to comment on the prospects of Tata buying Cable & Wireless Worldwide (CWW).
Tata said in a regulatory filing on March 1 its plans for an all-cash bid for CWW were "at a very preliminary stage", adding it would decide on whether to make an offer by March 29.
The operator will also consider upping its debt if the potential returns justify it, Vinod Kumar, Tata Communications chief executive, told Reuters. Kumar declined to comment on the prospects of Tata buying Cable & Wireless Worldwide (CWW).
Tata said in a regulatory filing on March 1 its plans for an all-cash bid for CWW were "at a very preliminary stage", adding it would decide on whether to make an offer by March 29.
New Deals, Wipro
Wipro Technologies eyes $3.5-billion services deals
Information technology services provider Wipro Technologies is pursuing contracts worth around $3.5 billion, senior management of the company told investors during a recent road show in Europe.
The Bangalore-based company is pursuing 15 $100-million deals and another 40 deals worth at least $50 million each.
Selective disclosure to groups of investors is seen a pro-active effort by firm, which underwent a management restructuring almost a year ago, to instill confidence among the investors community.
The Bangalore-based company is pursuing 15 $100-million deals and another 40 deals worth at least $50 million each.
Selective disclosure to groups of investors is seen a pro-active effort by firm, which underwent a management restructuring almost a year ago, to instill confidence among the investors community.
New Deals, Satyam
Mahindra Satyam acquires vCustomer BPO for $27 million
Mahindra Satyam, on Friday acquired Delhi based BPO firm vCustomer's International operations for $27 million. This is the first 100% acquisition by Mahindra Satyam since it became part of Mahindra Group.
The acquisition marks the entry of Mahindra Satyam's BPO operations into other verticals such as Retail and Consumer Technology in addition to enhancing its technical support business.
The acquisition marks the entry of Mahindra Satyam's BPO operations into other verticals such as Retail and Consumer Technology in addition to enhancing its technical support business.
Outsourcing
Offshoring to India will end in 8-10 years: Report
Offshoring of jobs to India will begin to decline starting 2014, and will reach the end of its lifecycle in eight years, according to US-based strategic advisory and research firm The Hackett Group released at the Nasscom Global In-House Centers ( GIC) Conclave being held here.
According to The Hackett Group, the traditional model of US and European companies moving finance, IT, and other business services jobs offshore will reach the end of its lifecycle over the next 8-10 years, and US and European companies will simply run out of jobs which can be moved offshore to locations like India.
The Hackett Group's offshoring research, examined 4,700 companies with annual revenue over $1 billion and headquartered in the US and Europe. It found that by 2016, a total of 2.3 million jobs in finance, IT, procurement and HR will have moved offshore. Click here to read more.
According to The Hackett Group, the traditional model of US and European companies moving finance, IT, and other business services jobs offshore will reach the end of its lifecycle over the next 8-10 years, and US and European companies will simply run out of jobs which can be moved offshore to locations like India.
The Hackett Group's offshoring research, examined 4,700 companies with annual revenue over $1 billion and headquartered in the US and Europe. It found that by 2016, a total of 2.3 million jobs in finance, IT, procurement and HR will have moved offshore. Click here to read more.
BPO, Outsourcing
Dell chalks out new BPO offerings, takes on Indian outsourcing firms
In a bleak environment where unemployment and sensitivity around offshoring are hurting the business process outsourcing (BPO) industry, IT giant Dell is readying an ambitious foray that will pit it against Indian outsourcing rivals in some of the largest back-office processes outsourced to third-party providers.
Once known for desktops and laptops and its direct selling business model, Dell has been beefing up its services portfolio by adding offerings since diversifying into software services by acquiring Perot Systems.
Ashutosh Vaidya, who joined Dell from Wipro to head its third-party BPO services nine months back, is adding final touches for the launch of four new backoffice services -- finance and accounting, procurement, customer interaction services and analytics -- slated for next quarter. Click here to read more.
Once known for desktops and laptops and its direct selling business model, Dell has been beefing up its services portfolio by adding offerings since diversifying into software services by acquiring Perot Systems.
Ashutosh Vaidya, who joined Dell from Wipro to head its third-party BPO services nine months back, is adding final touches for the launch of four new backoffice services -- finance and accounting, procurement, customer interaction services and analytics -- slated for next quarter. Click here to read more.
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