Private Equity Firms See Gold In Mid-Size Indian IT Firms

Indian IT firms, especially in the mid-tier segment, have seen a rise of private equity firms placing stakes on them. While faster technology at mid-size IT services companies have attracted PE firms such as Blackstone, Carlyle, ChrysCap, Bain Capital, The Baring Asia and others to invest in the sector; PE-backed companies have seen faster growth at a time when their large listed peers slowed down due to uncertain market.

H-1B, Singapore Protectionism: Calm Down, This Is No Do Or Die Battle, Indian IT Has Weathered Bigger Storms

With the latest missive from the Donald Trump administration on H-1B visa, cautioning companies against misuse, the immigration issues of the Indian IT sector are back in news. And it is not the US alone that is drumming up protectionism for political gains. However, industry observers say that Indian IT services companies are resilient enough to weather such issues.

Trump Begins Clampdown On H-1B Visas

In a fresh blow to software professionals, the Trump administration has moved to bar entry-level programmers from the H-1B visa programme.

Tech Mahindra Delays Appraisals For Senior Staff As Trump Heat Adds To Worries

India’s famed multi-billion dollar information technology (IT) industry has been facing challenging times over the past 6-12 months with top-notch IT companies already facing earnings pressures in recent quarters due to tough business environment prevailing in their most lucrative US and European markets.

This Country Will Be Most Impacted If US Passes New H-1B Visa Bill

It may not be a good time to be a techie in America. Correction: It may not be a good time to be a non-American in Trump’s America.

What H1B Visa Reforms Mean For IT Companies

Software services industry, already facing pressures on profitability and revenue, has become the latest target of the Trump administration’s moves to protect American jobs.

New H-1B Visa Announcement: Skills Not Salary The Trump Card

On 31 January 2017, an announcement impacting H-1B visa programme has been made by the US House of Representatives making it difficult for companies in the US to employ skilled foreign workers. Among other things, the minimum wage requirement of H-1B visa holders has been more than doubled to USD 130,000. At Greyhound Research we believe this is a significant announcement by the newly appointed Trump administration. While changes were expected under the new President, the suddenness and the order of the announcement has surely caught IT Services Providers across the globe by surprise.

Blow For Indian IT: New US Bill Proposes Doubling Wage Limit For H1B Visa

India’s information technology (IT) sector will face temporary setback to move workers from India to the US with the bill introduced in the US House of Representatives that mandates minimum wages of H1B visa holders at $130,000, double the current limit.

With Digital Transformation As Pivot, HCL Technologies Posts Strong Q3 2017 Results

The appointment of C Vijayakumar in the last quarter is proving to be a good move for HCL Technologies. HCL Tech is going through a change and he is bringing in fresh perspectives in the way their deals are being constructed.

There are clear efforts to modernise existing traditional infrastructure contracts (the ones with lower margins) and increase the use of digital technologies. Furthermore, HCL Tech has a significant focus on utilities, healthcare, manufacturing, life sciences among other verticals, that are witnessing a higher need for Digital Transformation and hence higher margins.

Indian Techies Nervous About Stay In Donald Trump’s America; Mull Passage Back Home

Indian engineers have for long viewed the US as the land of El Dorado with its promise of riches — professional and personal. But they are now a deeply worried lot as nationalist rhetoric turns shrill in Donald Trump’s America.

HCL Tech Q3 Net Up 7.8%, Co Maintains Full-Year Guidance

HCL Technologies on Tuesday reported a 7.8% rise in consolidated net profit at Rs2,070 crore for the third quarter ended December 31, 2016, as compared to Rs1,920 crore reported in the year-ago period.

Trump-Wary IT Body Nasscom To Meet US Policy Makers Soon

Amid widespread concerns over impending policies of Donald Trump, who is set to take charge as US President from Friday, Nasscom is planning a visit to the US in the next few weeks to reach out to American policymakers and lawmakers.

NASSCOM 2 Last

Hoping for a “business-friendly administration”, Infosys chief Vishal Sikka says Trump himself is an entrepreneur and a business leader and therefore, he “expects that this will be the case where business and innovation friendly regime.”

Outlook 2017: Tech Industry Faces A Volatile Year Ahead

“2017 is going to be a volatile year for the Indian IT industry,” says Sanchit Vir Gogia, Chief Analyst and CEO, Greyhound Research. “The pace of technological changes is very high and it will lead to substantial job cuts. The companies will try to be a lot leaner,” predicts Gogia.

Indian IT services companies have been facing competition from upstart players with highly specialised skill sets based in advanced markets, especially in areas such as cloud services and analytics. The cash-rich Indian IT companies are responding to this by acquiring companies overseas and thereby enhancing capabilities. Wipro spending nearly $1 billion in acquisitions last year is a case in point. In 2017, we are likely to see big boys of the Indian IT industry loosening their purse strings to make large acquisitions. “They will look at companies with sizeable revenues,” says Gogia.

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David Kennedy Exits Infosys Whilst Indian IT Service Providers Battle Protectionist Sentiment

On December 31, 2016, Infosys announced a sudden exit of its General Counsel and Chief Compliance Officer, David Kennedy. While no reasons have been cited by the company, per the terms of exit, Kennedy will receive aggregate severance payments of US$ 868,250 along with reimbursements for COBRA (insurance) continuation coverage over a period of 12 months.

Indian IT Firms Face Uphill Task For New Contracts Up For Rebid

India’s software exporters seem to be the new incumbents in the global technology outsourcing space. In the next two years, clients such as BNP Paribas, Procter & Gamble, Johnson & Johnson, Citigroup and DuPont will look at their existing contracts and ask global information technology (IT) services firms to bid for them.

HCL Technologies Eyes 20% Revenue From Digital Play By 2020

HCL Technologies, India’s fourth largest software services company, expects digital, cloud, analytics, automation and internet of things (IoT) to grow faster than the traditional business segments, accounting for up to 20 per cent of revenues in next three to four years, from current five per cent.

HCL Technologies June Quarter Profit Rises 14.8% To Rs2,047 Crore

HCL Technologies Ltd, the country’s fourth largest IT firm, saw its June quarter consolidated net profit rise by 14.8% to Rs.2,047 crore on account of broad-based growth across service offerings, and it expects 12-14% revenue growth in the ongoing fiscal.

LinkedIn sets sights on Indian start-ups

US-based social networking company LinkedIn is looking at buying Indian start-ups, has tweaked its India portal and with its new 800 seater office in Bengaluru, as it seeks to build on its India presence. India is currently the second biggest market for LinkedIn globally, with a user-base of 35 million. “This country is of great strategic importance and we are open for acquisitions that are strategic fits,” said Allen Blue, Co-founder, LinkedIn, a company which he co-founded with Reid Hoffman in 2002.

Acquisition of Geometric gives HCL Tech fillip in IoT segment

The acquisition of Geometric by HCL Technologies gives the latter a fillip to its Internet of Things (IoT) segment.

Blackstone India takes Mphasis off HP’s hands for ₹7,100 crore

Private equity player Blackstone India announced that it will buy Bengaluru-based Mphasis for ₹7,100 crore, making it the largest deal in India and bringing to a close speculation over the future of Mphasis.

The PE major will acquire Hewlett-Packard’s 60.5 per cent stake in the company at ₹430 per share, which will trigger an open offer for acquiring 26 per cent from Mphasis’ other shareholders. The open offer is priced at ₹457.50 per share.

Capgemini – IGATE Corp Deal: More MAs In India, Scramble For Clients In The Offing

Capgemini’s $4 billion offer to acquire iGATE–the largest buyout of an India-related IT services firm–could well be a harbinger of a clutch of merger and acquisition (M&A) deals involving mid-size firms, say industry watchers.

Results Of Infosys And HCL Tech Indicate That Strategic Outsourcing Is Dying A Natural Death

From the results of two big IT service providers, namely HCL Technologies and Infosys, it is clear that Strategic Outsourcing (SO) is dying a natural death, believes Greyhound Research.

HCL Tech Net Misses Estimates, Sinks 12% In March Quarter

HCL Technologies recorded a 12% drop in net profit sequentially for the March quarter, missing street estimates as cross-currency movements impacted earnings adversely. The IT major’s net profit during the period stood at Rs 1,683 crore, while it also disappointed on revenue growth which remained flat sequentially.

HCL Tech Profit Up 3.6% In Q3

HCL Technologies has reported a consolidated net profit of 1,683 crore during the third quarter ended March 31, up 3.6 per cent against 1,624 crore in the corresponding period last year. Led by geographical growth in both Europe and the US, and vertical growth such as in financial, public services, and retail and consumer packaged goods, the company’s revenue also grew year-on-year.

HCL Tech Profit Up 3.6% In Q3

HCL Technologies has reported a consolidated net profit of 1,683 crore during the third quarter ended March 31, up 3.6 per cent against 1,624 crore in the corresponding period last year. Led by geographical growth in both Europe and the US, and vertical growth such as in financial, public services, and retail and consumer packaged goods, the company’s revenue also grew year-on-year.

HCL Tech Q3 Profit Rises 3.6%, Misses Estimates

HCL Technologies Ltd, India’s fourth largest software exporter, on Wednesday posted a 3.6% rise in net profit to Rs.1,683 crore for the three months ended March compared with the year-ago period, missing analysts’ expectations. Net sales rose 11% to Rs.9,267 crore from last year. Net profit fell 12.2% from the December quarter, during which the company had delivered its strongest performance in the past 16 quarters. Revenue fell 0.2% sequentially.

HCL Tech Misses Estimates, Disappoints Markets

HCL Technologies, the fourth-largest information technology (IT) services provider, followed in the footsteps of Tata Consultancy Services in disappointing the markets by missing the estimates for the January-March quarter. The company’s financial year ends in June.

HCL Tech Misses Estimates, Disappoints Markets

(IT) services provider, followed in the footsteps of Tata Consultancy Services in disappointing the markets by missing the estimates for the January-March quarter. The company’s financial year ends in June. 

Infosys To Buy Automation Tech Firm Panaya For $200 MN

Betting big on new technologies to boost growth, country’s second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

Infosys Buys US-Based Panaya For $200 Million

Betting big on new technologies to boost growth, country’s second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

Infosys To Buy Automation Tech Firm Panaya For $200 MN

Betting big on new technologies to boost growth, country’s second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

Infy To Buy Panaya For $200M

Infosys will acquire US-based automation technology company Panaya for $200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about $350 million (Rs 1,932 crore) in 2012. However, this is the first acquisition since former SAP board member Vishal Sikka took over as the CEO and managing director of the over $8-billion firm in August last year.

Infosys To Buy Automation Tech Firm Panaya For $200 MN

Betting big on new technologies to boost growth, country’s second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

Infosys To Buy Automation Tech Firm Panaya For $200 MN

Betting big on new technologies to boost growth, country’s second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

Infra Service Can’t Bring Home the Bacon for HCL

HCL Technologies needs to rethink its strategy as its fastest-growing vertical, infrastructure services business, has been slowing down with clients shifting to cloud technology , experts said, suggesting increased investment to push other businesses at India’s fourth largest information technology company. The Noida-based company’s infrastructure management services (IMS) business, which manages computers, does software upgrades, provides anti-virus protection for clients and scales it up to manage data centres and networks, accounts for over $1 billion (about `6,200 crore) revenue.