Infosys certified as Managed Service Provider by Google Cloud

Infosys said it has qualified as a ‘managed service provider’ for Google’s cloud computing products. Google gives the title of managed service provider or MSP to those companies who “have shown deep cloud expertise”. “From deep daily engagement across Google Cloud business and technical teams to quarterly business reviews, these partners will have the tools […]

Infosys to acquire ABN AMRO’s mortgage services unit

Bengaluru-based IT services firm Infosys said it will take over the mortgage administration services unit of ABN AMRO, based in Amsterdam, Netherlands. Infosys will acquire a 75% of the shareholding in Stater, while the remaining stake will continue to be with ABN AMRO. Financial details of the deal were not disclosed. Stater offers pure-play, end-to-end […]

Infosys pays Rs 34.35 lakh to SEBI over severance to Rajiv Bansal

Infosys said it has paid Rs 34.35 lakh to settle the investigation into the incident of the company paying over Rs 17 cr as severance pay to Rajiv Bansal, who resigned as its finance head in October 2015. There have been allegations, including from the side of founder Narayana Murthy, that everything was not well […]

Infosys to create 1,200 digital tech jobs in Australia

Infosys, the Bangalore-based technology company, announced it would create 1,200 jobs in Australia and open three new ‘innovation hubs’ by 2020. The company said 40% of the jobs will be filled with Australian university graduates from areas like computer science and design. This is part of the company’s efforts to broad-base its workforce by opening […]

Infosys to open 1000-employee center in Arizona

Infosys said it will open a ‘Technology and Innovation Hub’ in the US state of Arizona and hire 1,000 American workers in the state by 2023. Infosys said it has hired 5,874 American workers in the last 16 months. Arizona center will focus on autonomous technologies, Internet of Things (IOT), full-stack engineering, data science and cyber security. […]

Infosys doubles investment in startup TidalScale to $3 mln

Outsourced services provider Infosys said it has made yet another investment of $1.5 mln in start-up software company TidalScale, taking the total to $3 mln. TidalScale creates software that helps ‘merge’ multiple servers (or powerful computers) into a giant and super-powerful unit. Traditionally, the need for more power has been met by ‘clustering’ servers together. […]

Infosys buys Nordic Salesforce.com consultant for undisclosed amount

Infiosys announced it was buying Europe-based Salesforce consultant Fluido for an undisclosed sum. The acquired company has over 240 specialists and offices in Finland, Denmark, Sweden, Norway and Slovakia. Salesforce is a low-cost alternative to customer relationship management software from the likes of Oracle and SAP, and is preferred by smaller organizations and those that […]

Infosys to donate station to Bangalore Metro

Infosys Foundation, the philanthropic arm of Infosys, said it has signed an agreement to construct and maintain a metro station next to its main campus in Electronics City, Bangalore. The station, to be constructed at Konappana Agrahara, will be covered under the second phase of Bangalore Metro’s expansion plans and is expected to be operational by […]

Infosys CEO Salil Parekh dismisses growth concerns

Infosys CEO Salil Parekh reassured investors that the IT services behemoth was not facing a growth crisis because of the replacement of traditional sourcing models with digital services. He said new age services — such as analytics, marketing, digital product design, digital system integration, cloud migration and cyber security were already at a huge size, […]

Won’t be coming here again – Nandan Nilekani at Infosys

“I won’t be coming here again, I think,” said Infosys co-founder and chairman Nandan Nilekani at the company’s quarterly results press conference, indicating that he may step down from his role at Infosys sooner rather than later. Nilekani faced several questions from journalists about how long he planned to stay in the role of the […]

Infosys to bring down on-site employee numbers going forward

IT services provider Infosys Ltd said it has largely exhausted the possibility of improving its profit margins by increasing employee utilization levels and will focus on bringing down on-site employee numbers to boost margins. The company reported an employee utilization level of 84.9% for the three months ended December — an all-time record — compared […]

Infosys reports in-line quarter, revenue up 5.8% YoY in constant currency

Infosys reported a quarter that was largely in line with expectations and said it retains its full-year revenue growth guidance at 5.5-6.5%, excluding the impact of currency movements. With nine months gone, the company has grown at 5.6% in constant currency terms so far. For the third quarter, revenue in constant currency was up 0.8% […]

Bangalore, ‘cultural fit’ swung it for Salil Parekh – Search Committee Head

Two crucial factors that swung the decision in favor of hiring Capgemini veteran Salil Parekh as the new CEO of Infosys were his familiarity with working in the IT sector in Bangalore and his overall ‘cultural fit’ with the Indian IT industry, said Kiran Mazumdar-Shaw, who heads the committee that spearheaded the search for a […]

Infosys launches inter-bank blockchain network

Infosys said it launched Finacle Trade Connect, a network-based system of distributed record keeping for banks based on the block chain technology. A blockchain-based record is open to all participants and all participants have a copy of all the data. Moreover, all transactions are recorded on a real-time basis on every copy of data. In […]

Indian IT sector margins to fall to 21.2% from 23.5% by 2020 – ICRA

Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]

Cognizant to beef up digital practice with acquisition of Zone

Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of certain closing conditions, it […]