Top Stories Cognizant Q1 revenue at $2.02bn
Cognizant Technology Solutions Corporation, a leading provider of information technology, consulting, and business process outsourcing services, announced its first quarter 2013 financial results.
Highlights First Quarter 2013
Quarterly revenue rose to $2.02bn, up 18.1% from the year-ago quarter and 3.7% sequentially.
Quarterly diluted EPS on a GAAP basis was $0.93, compared to $0.79 in the year-ago quarter.
Quarterly diluted EPS on a non-GAAP basis was $1.02, compared to $0.88 in the year-ago quarter.
Net headcount addition for the quarter was approximately 6,000.
As previously announced, starting in 2013, reported non-GAAP financial measures exclude acquisition-related charges, in addition to stock-based compensation expense. 2012 non-GAAP measures have been adjusted to reflect this change. Read more...Wipro acquires minority stake in Opera Solution
Wipro Limited announced that it has signed an agreement to enter into a strategic partnership and take a minority position in Opera Solutions, LLC, a leading global Big Data science company. Wipro will invest USD 30mn in the company, which is privately held and headquartered in Jersey City, NJ.
Big Data represents an unprecedented opportunity for business value creation but many enterprises do not have the right technology or the science to access its power. Opera Solutions supplies these critical capabilities in a form that allows organizations to rapidly turn raw Big Data into strategic advantage, profit, and productivity.
Opera Solutions has one of private industrys largest groups of scientists specializing in machine learning. The company applies its machine learning science to the worlds Big Data flows to extract predictive patterns, or Signals. It offers a range of solutions, delivered as a service, that turn these Signals into prescriptive best actions that significantly improve front-line productivity and bottom-line growth. Its solutions include its Consumer Signal Hub and related Signal Apps for marketers and SignalSensor, which extracts threat and other sentiment from the worlds flow of open source online data, as well as other solutions for financial services, capital markets, procurement professionals, and the healthcare industry. Read more...Zensar, Geometric may be worst affected: report
According to reports, IT firms such as Tata Consultancy Services, Infosys or Wipro will be spared the worst effects of planned overhaul of America's immigration system.
Other IT firms such as Infotech Enterprises, Geometric and Zensar Technologies employ American nationals in large numbers, says media report.
India exported software worth $46bn to the United States in 2012-13.
"We expect to be better than 50:50 by end of current financial year with our planned investments in local hiring and skills development," Zensar Technologies' vice-chairman Ganesh Natarajan reported.
Zensar Technologies has 800 engineers in the US of whom over 350 are citizens of that country or permanent residents who do not require visas, media report stated.Infocus Stories April job demand rises 1% MoM: Timesjobs
Demand index recorded a 1% growth in April13 over March13, marking a positive beginning of the Q2 of 2013, highlights RecruiteX, TimesJobs.com Recruitment Index. On year-on-year comparison, the demand index rose by 4 points in April13 (94 points) over April12 (91 points), registering an annual growth of 4.3%.
The Indian job market is still restrained. However, the positive beginning of Q2 hints towards signs of revival. We are hopeful of a sustainable growth trend across industries in coming months, said Amit Jain, Senior Vice President & Business Head, TimesJobs.com.
In April13, IT/Telecom industry exhibited the strongest demand, with a 12% growth on month-over-month basis, among top 10 industries. Healthcare/ Biotechnology/ Pharmaceutical (5%) and Entertainment/ Media (5%) sector also performed well during the month, by registering single-digit growth in demand. Whereas, high-demand sectors such as ITeS, Consumer Durables/ FMCG, Projects/ Infrastructure, Construction/ Cement, Projects & Infrastructure and BFSI recorded dip in demand in April 2013 over March 2013. Read more...Domestic NewsOracle Financial Q4 net profit at Rs. 2662.60mn
Oracle Financial Services Software Ltd has posted a net profit of Rs. 2662.60mn for the quarter ended March 31, 2013 as compared to Rs. 4995.00mn for the quarter ended March 31, 2012.
Total Income has increased from Rs. 7818.60mn for the quarter ended March 31, 2012 to Rs. 8434.70mn for the quarter ended March 31, 2013.
For the Consolidated period, the group has posted a net profit of Rs. 10751.40mn for the year ended March 31, 2013 as compared to Rs. 9092.90mn for the year ended March 31, 2012.
Total Income has increased from Rs. 35684.30mn for the year ended March 31, 2012 to Rs. 39335.40mn for the year ended March 31, 2013.Firstsource Solutions Q4 rev at Rs. 7125mn
Firstsource Solutions Limited, one among Indias leading Business Process Management (BPM) companies reported its consolidated financial results for the quarter and financial year ended March, 2013 according to Indian GAAP.
Financial highlights for the quarter ended March 31, 2013:
Revenues of Rs 7,125mn, up 14.6% Y-o-Y compared to Rs. 6,218mn for the quarter ended March 2012 and flat Q-o-Q compared to Rs. 7,132mn for the quarter ended December 2012.
Operating EBIT of Rs. 613mn, up 97.7% Y-o-Y compared to Rs. 310mn for the quarter ended March 2012 and up 19.5% Q-o-Q compared to Rs. 513mn for the quarter ended December 2012.
Profit after tax of Rs. 402mn, up 74.2% Y-o-Y compared to Rs. 231mn for the quarter ended March 2012 and down 3.0% Q-o-Q compared to Rs. 415mn for the quarter ended December 2012. Read more...Wipro, AT&T expands relationship
AT&T is making it even easier for businesses globally to implement machine-to-machine (M2M) solutions by expanding its relationship with Wipro Ltd., a leading global Information Technology, Consulting and Outsourcing company. Announced at the Axeda Connexion conference, the two companies will work together to offer M2M development services and systems integration across all major industries.
Customers are turning to us to make their M2M connectivity easy to manage and monitor in virtual real-time, said Mike Troiano, Vice President, Advanced Mobility Solutions, AT&T Business Solutions. Our relationship with Axeda has fueled customer interest globally, and with the addition of Wipros Axeda-trained engineers, were poised to help even more businesses implement highly-secure and reliable M2M solutions. Read more...Public cloud services mkt to touch $443mn in 2013: Gartner
The public cloud services market in India is forecast to grow 36% in 2013 to total US$443mn, up from US$326mn in 2012, according to Gartner, Inc. Infrastructure as a service (IaaS), including cloud compute, storage and print services, continues as the fastest-growing segment of the market in India, growing 22.7% in 2012 to US$43.1mn, and it is expected to grow 39.6% in 2013 to US$60.2mn.
Software as a service (SaaS) continues to be the largest segment of the cloud services market in India, comprising 36% of the total market in 2012. Gartner predicts that from 2013 through 2017, US$4.2bn will be spent on cloud services in India, US$1.6bn of which will be spent on SaaS. Read more...Idea in talks with IBM: Report
Idea Cellular is in talks with its outsourcing partners to lower costs of operations and improve profitability, media report said.
Reports said that With IBM, Idea may drive down the revenue share component as it has more than met the subscriber numbers promised in the original deal.
According to reports, Idea is planning to cut costs as profitability is under pressure with high airwave and licence fees.
Idea Cellular signed an outsourcing deal with IBM in 2007 with the clause the contract could be extended and renegotiated at the end of the first five years.Wipro launches VirtuaDesk
Wipro Ltd, a leading Global Information Technology, Consulting and Outsourcing company, launched VirtuaDesk, the first packaged, IP-based offering from its Advanced Technologies practice.
VirtuaDesk is a complete desktop virtualization solution that enables customers to easily secure, provision, and share applications and data, for a collaborative and mobile workforce. Designed for fast and secure deployment, VirtuaDesk minimizes the risk in desktop virtualization implementation.
Efficient and easy to use, VirtuaDesk comes as a comprehensive packaged offering delivered as an integrated software-hardware platform. A Wipro-developed self-service portal helps users select and provision required applications and desktops. Features include an App Store, Catalog, and menu-driven administration to define authorization and access. Advanced back-end functionality includes in-memory caching capabilities that enable businesses to provide high-performing desktops and applications. Read more...Infy, SAP ink mobile appl pact; deal to enhance retail sales
Infosys, a global consulting and technology leader, announced it is collaborating with SAP on development of mobile applications for the retail industry.
These efforts are focused on giving consumer packaged goods (CPG) companies anytime, anywhere access to sales representatives and merchandisers, enabling them to capture information from the field to make them more competitive and agile.
Specifically, Infosys has cooperated with SAP on development of the SAP Retail Execution mobile application version 3.0. The application powers work Infosys does for CPG companies, along with their merchandisers and promotions planners. It streamlines sales forces by providing data via user-friendly mobile devices, instead of cumbersome laptops and user interfaces. Read more...Tech Mahindra launches S.African arm in pact with Falcorp
Tech Mahindra Limited, a leading global Systems Integrator and Business Transformation Consulting services firm primarily focused on the Telecommunications industry, announced the launch of Tech Mahindra South Africa in partnership with Falcorp.
The launch of Tech Mahindra South Africa follows the announcement in 2011 to reinforce its leadership and focus across its African operations. The newly formed company will be a Level 3 Broad-Based Black Economic Empowered (B-BBEE) company.
Tech Mahindra South Africa will help create local job opportunities and invest heavily in skills development, and employment equity, over a period of 6-12 months. As part of the B-BEEE strategy, the company will target to have ~65% in local preferential procurement, a corporate social investment plan as well as a leadership and internship programme. A dedicated Talent Exchange Program for the transfer of skills between India and South Africa will also be initiated. Read moreD-Link FY2013 net profit up 75%
D-Link (India) Limited announced its financial results for year ending 31st March 2013.
Year Ended 31st March Results key highlights
The revenue for FY 2012-13 was up by 58.56% at Rs. 35,370.22 Lakhs as against Rs. 22,307.06 Lakhs in last year
The Net Profit after tax (PAT) for FY 2012-13 was up by 75% at Rs. 1,232.50 lakhs as against Rs. 704.14 lakhs in last year
Revenue growth of 38.4%YoY in Q4
For the quarter D-Link achieved an all-time record quarterly revenue, and net profit.
Fourth Quarter Results key highlights
The revenue for Q4, 2012-13 was up by 38.4% at Rs. 9,917.65 Lakhs as against Rs. 7,165.50 Lakhs in Q4 last year
The Net Profit after tax (PAT) grew by 29.74% for Q4, 2012-13 with Rs. 388.26 lakhs as against 299.25 lakhs in Q4 last year. Read more...Capgemini launches innovative Tech Challenge
Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services in India, is hosting a unique Tech Challenge, through a gamified Facebook application to engage with IT professionals & enthusiasts across the country. This first-of-its kind initiative, has received tremendous response with more than 50,000 users adding the application on Facebook within a short span. The numbers are on a rise every week with exciting prizes up for grabs for contest winners.
The application currently has four different Tech challenges that will test the Coding skills, Tech Aptitude, Business Information Management and IT infrastructure of the participants. The challenges have multiple levels with increasing complexity. The application is designed to engage IT professionals to participate as well as challenge their network of friends online. Read more...Intel to campaign on imp of PC in every household
Intel in India has launched a nationwide integrated campaign to increase the relevance and demand of personal computing devices and drive domestic adoption of technology in India by targeting consumers with the message of how a PC can change their life. In addition, Intel and NASSCOM, along with a few ecosystem players, had launched the National Digital Literacy Mission in India last year in order to enhance digital literacy in India.
This six weeks long nationwide campaign, starting from Jaipur in Rajasthan, will reach out to consumers in a targeted manner across ten states through a series of interventions in the form of print advertisements, out of home visibility, radio jingles and its award winning on-ground experiential program called My Discoveries. In addition to this, through its on-ground activities and retail marketing programs, Intel will continue to educate consumers on why a PC is a transformational device. The campaign will cover forty cities across ten states namely Rajasthan, Punjab, Maharashtra, Karnataka, Uttar Pradesh, Gujarat, Tamil Nadu, Kerala, Andhra Pradesh and West Bengal. Read more...International NewsMicrosoft sells 100mn Windows 8 licenses
According to reports, Microsoft Corp has sold 100mn Windows 8 licenses in the six months since launch.
Windows 8 is the first Microsoft operating system primarily designed for touch commands, but failed to capture consumers' imaginations dominated by Apple Inc and Samsung Electronics.
Reports said that Microsoft will be rolling out an update to Windows 8, provisionally code-named 'Windows Blue', by the end of this year.
Details of the update will be released in the next few weeks, media report said.Global Edge Software acquires Dearborn Electronics
Global Edge Software, an embedded software solutions and services company focused on wireless, telecom and IP networking technologies, signed a definitive agreement to acquire hundred percent stake in Dearborn Electronics (India) Pvt. Ltd., an unlisted entity specializing in automotive and automation control, communication and information solutions space. This acquisition will strengthen Global Edges focus on automotive electronics and industrial automotion embedded systems. Dearborn will continue to remain a separate entity as a wholly owned subsidiary of Global Edge Software.
GlobalEdge has been a leader in delivering solutions and services particularly in wireless, platform, multimedia and embedded domains to customers world-wide. GlobalEdges customers list includes leading semiconductor vendors, CPE device makers, Consumer Electronics Companies, Communications OEMs etc. Read moreMcAfee to acquire Stonesoft
McAfee announced the execution of a definitive agreement to initiate a conditional tender offer for the acquisition of Stonesoft Oyj, a leading innovator in next-generation network firewall products, for an aggregate equity value of approximately $389mn in cash.
Stonesoft delivers software-based, dynamic, customer-driven, cyber security solutions to secure information flow and simplify security management. Stonesofts product portfolio of next-generation firewalls, evasion prevention systems, and SSL VPN solutions addresses businesses of all sizes. Through the pending acquisition of Stonesoft, McAfee expects to extend its leadership position in network security. Read more...Microsoft extends search guarantee in Yahoo: Reports
Microsoft has extended a guarantee that provides Yahoo with financial protection, according to reports.
Report said that an arrangement requiring Microsoft Corp. to pay Yahoo Inc. a minimum amount per search on Yahoo's website expired March 31.
Yahoo rose 90 cents, or 3.6 percent, to close at $26.07 and it's the first time the stock has closed above $26 in nearly five years.
Yahoo, didn't reveal the minimum amount that it's likely to see under the Microsoft guarantee, says reports.
Microsoft extended the guarantee on April 30, retroactive to April 1, according to Yahoo's filing.Cos fear security risk to data on cloud services: NetIQ
NetIQ announced the results of a cloud security survey commissioned through IDG Connect, revealing that while companies have become increasingly comfortable with the security of third-party cloud service providers, data security particularly at the end user level as well as concerns over meeting compliance requirements, remain top-of-mind among cloud adopters.
Fifty-one% of IT executives surveyed believe that the cloud increases data security overall. However, almost 70% of respondents indicated that consumer cloud services pose a risk to sensitive data in their organizations and 45% are not fully confident that their cloud provider's security processes and programs meet their data security requirements. Read more...