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TCS, Mitsubishi JV to set up nearshore delivery center in Japan
Tata Consultancy Services, the leading IT services, consulting and business solutions firm, and Mitsubishi Corporation, an integrated global business enterprise announced a new joint venture, Nippon TCS Solution Center Limited, for the Japanese market.
Nippon TCS Solution Center will offer a full service suite of IT, BPO and Infrastructure services to Japanese corporations. TCS Japan will have 60 per cent stake with Mitsubishi Corporation having a 40 per cent stake. The new joint venture will also establish a nearshore delivery center in Japan.
The joint venture comes against the backdrop of a strong yen, the globalization of supply chains and a growing trend toward overseas mergers and acquisitions, all of which act as a catalyst for the increasing globalization of Japanese companies,. This has brought heightened interest in the role of “global IT services” to link domestic and overseas operations.
The nearshore delivery center will leverage Mitsubishi’s significant domestic market expertise as well as the global expertise of processes and best practices of the TCS Global Network Delivery Model (GNDMTM), to meet the various needs of Japanese companies through enhanced solutions and service offerings.
N. Chandraseakaran, CEO and MD of Tata Consultancy Services said: “Japan is a very important market for TCS and we are delighted to partner with strong partner like Mitsubishi Corporation in this market. The new joint venture will provide strong local market knowhow, deep domain knowledge as well as bring in global technology best practices to help Japanese corporations effectively respond to their global IT needs.”
Offensive content...Internet firms get 15 more days to comply
A Delhi court reportedly gave 22 internet companies, including the likes of Facebook and Google, 15 more days to remove 'objectionable' contents from their websites. The judge reportedly said that these web sites did not deserve any more time.
Earlier today, Facebook India filed its compliance report before the Delhi court while Google India told the court that it has removed certain web pages from the Internet.Separately, Facebook, Yahoo and Microsoft told the court that they have no role to play in the case and there is no cause of action against them in the matter.
the court also asked Google Inc as to why it was not coming up with proper reply. "Don't tell me you have been served only on Friday. After this entire hullabaloo that has been created in the last few months you should have been prepared," it stated.In a December 20 ex-parte order, the court had issued summons to 22 social networking websites asking them to remove anti-religious or anti-social content. Later, it set February 6 as the deadline for the websites to comply with the order.
In Focus Story
Indian IT-BPO Sector revenue estimated to Cross US$100bn mark: NASSCOM
National Association of Software and Services Companies (NASSCOM) released the key findings of the Indian IT-BPO sector performance for FY2011-12. The findings were released by Rajendra Pawar, Chairman, NASSCOM, along with Som Mittal, President, NASSCOM.
The year 2011-12 characterizes a landmark year as aggregate revenue for the Indian IT-BPO sector is estimated to cross USD 101 billion. Continuing as the bastion for the sector, exports accounted for ~USD 69 billion, growing by 16.3 percent over the last fiscal year.
Despite challenges in the global market conditions, India sustained its growth trajectory. Some of the other pivotal factors that have been contributing to this growth include new business models, organization efficiencies, services around disruptive technologies such as cloud, mobility, analytics, social media, and flexible product portfolios and verticalized solutions. For FY2013, the export revenues are expected to grow by 11-14% while the domestic revenues will grow by 13-16%.
The IT-BPO sector continues to be one of the largest employers in the country directly employing ~2.8 million professionals, with over 230,000 jobs being added in FY2012.
Speaking at the press meet, Rajendra Pawar, Chairman, NASSCOM, said, "The industry performance this year demonstrated the sector’s ability to innovate and deliver differently in order to maintain the growth trajectory. The Indian IT companies are investing in building platforms and productised solutions to drive future growth opportunities. More importantly, the industry is expanding into newer geographies and verticals where the growth is 1.4 time that in the mature markets. Emergence of a vibrant start-up product ecosystem creating solutions for India and the world also enhanced the product opportunity for India."
Speaking on the occasion, Som Mittal, President, NASSCOM, said, "Indian IT-BPO firms have matured from being service providers to strategic partners to their customers – highlighting their importance in enabling growth of customer businesses. Verticalisation, operational excellence and an expanding global delivery model were internal priorities for the industry in this year. The domestic market for the last couple of years has been growing faster than the exports sector and would continue to be a key thrust area for the industry".
Domestic News
Mahindra Satyam to acquire strategic stake in Dion Global Solutions
Satyam Computer Services Limited („Mahindra Satyam) and Dion Global Solutions Limited has announced that they have signed a Memorandum of Understanding pursuant to which Mahindra Satyam will acquire a strategic stake in Dion.
As a result of this development, Mahindra Satyam has agreed to acquire a significant minority stake by way of fresh issue of equity shares. The new equity shares will be priced at in accordance with the applicable SEBI regulations. The transaction will be subject to regulatory and board approvals and satisfaction of other customary closing conditions.
MindTree plans to hire 4,000 fresh graduates: reports
MindTree Limited is planning to hire 4,000 fresh graduates in the next financial year, according to reports. Reports stated that the last year, company have hired 1,800 graduates.
The company has added 846 people in the third quarter of the current financial year, taking its total employee strength to 10,934.
NIIT Tech implements cargo Operations Intelligent System at Vietnam's Airport
Tulip Telecom and IBM build India’s Largest Data Center
Microsoft India launches DreamSpark Yatra 2012
TCS wins order from Europcar
NASSCOM Foundation releases shortlisted Projects of Social Innovation Honours 2012
Allied Digital appoints Paresh Shah as CEO
PTC holds its first ever PTC Live TechForum in India
Kale Consultants Board approves Buy-back at Rs160 per equity share
KPMG India launches Technology Center in Bangalore
Customers adopt Oracle Fusion Human Capital Management
Results watch
Tech Mahindra Q3 net profit at Rs2760.20 mn
D-Link registers 95% YoY growth in Q3
Hinduja Global Q3 net profit at Rs281.7 mn
Omnitech InfoSolutions Q3 net profit dips 16%
International News
Cognizant Q4 Revenue up 27%
Cognizant Technology Solutions Corporation, a leading provider of information technology, consulting, and business process outsourcing services, today announced its fourth quarter and full year 2011 financial results.
Revenue for the fourth quarter of 2011 rose to $1.66 bn, up 26.9% from $1.31 bn in the fourth quarter of 2010. GAAP net income was $240.1 mn, or $0.78 per diluted share, compared to $206.2 mn, or $0.66 per diluted share, in the fourth quarter of 2010. Diluted earnings per share on a non-GAAP basis was $0.84.
GAAP operating margin for the quarter was 18.5%. Excluding stock-based compensation expense of $26.0 million, non-GAAP operating margin was 20.1%, marginally higher than the Company’s targeted 19-20% range.
Organizational politics are emerging as a challenge: Gartner
Organizational politics are emerging as a challenge, and through 2016 they will prevent at least one-third of business process management (BPM) efforts progressing from one-off projects to enterprisewide adoption, according to Gartner, Inc.
Gartner analysts revealed some of their key predictions for BPM in advance of the Gartner Business Process Management Summits, taking place March 14-15 in London, and April 25-27 in Baltimore. A Gartner survey conducted in the fourth quarter of 2011 among 157 BPM professionals revealed that the main obstacle preventing further adoption of BPM was organizational politics (53 percent of respondents).
"BPM as a discipline requires an organization to change its culture and its work practices," said Elise Olding, research director at Gartner. "However, very often, this change can lead to power struggles between functional units or an unwillingness to adopt new ways of working, sometimes from senior individuals. These organizational politics can kill a BPM initiative if they are not managed effectively.
Cognizant broadens executive management team
Cognizant Technology Solutions Corporation, a leading provider of information technology, consulting, and business process outsourcing services, has announced the expansion of its executive management team to support the ongoing growth of the business.
The following promotions have been approved by Cognizant’s Board of Directors and are effective immediately:
Gordon Coburn has been promoted to President
Rajeev Mehta has been promoted to Group Chief Executive—Industries and Markets
Chandra Sekaran has been promoted to Group Chief Executive—Technology and Operations Karen McLoughlin has been promoted to Chief Financial Officer
Malcolm Frank has been promoted to Executive Vice President, Strategy and Marketing
Lalit S. Chowdhary to Lead Systems Engineering Organization at Cisco India
SMBs contribute over 1/3rd of domestic IT spend: Zinnov study
International companies performing better than domestic counterparts : Regus study
DIGILITE launches its new motherboard model DL-G41MXE
Hitachi GST announces its Ultrastar enterprise-class solid state drive
Yahoo! India now available in four Indian languages
Red Hat to recognize organizations with sixth annual innovation awards
Symantec Corp announces deliver new approach for modernizing backup and recovery
Agilent Tech. announces World’s first VGA display handheld oscilloscope
SAP announces two new offerings that will deliver benefits of SAP HANA platform
eBay India announces festive season's top gadget brands
CardPro implements Datacard’s flagship MX 2000
Cricbuzz and Opera Software extend association on Opera Mini with Speed Dial
Lalit S. Chowdhary to lead Systems Engineering organization at Cisco India & SAARC