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IBM India has entered into USD450 million IT outsourcing contract with private insurance player Max New York Life MNYL. The technology services behemoth, which has already showcased the advantage of total IT outsourcing with the telecom major Bharti, is expecting this deal to pan out in the similar manner. The deal, spread over ten years, will see IBM India providing complete end to end back end IT infrastructure to MNYL. IBM India global technology services vice president Nipun Mehrotra said, This life insurance is a growing market and the work we have done has the potential to change the sector.it is likely to change in similar lines to what happened in telecom sector.
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IT majors in India have been dependent on international markets since a very long time. But the newly published report from Springboard Research should compel them to thing otherwise and concentrate on the domestic market as well. According to the report, the Indian IT services market is set to grow from USD 4.1 billion in 2007 to USD 8.1 billion by 2011 at a CAGR of 18.6 percent.
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Computer maker Hewlett Packard HP announced Wednesday it has completed the acquisition of Electronic Data Systems Corp. EDS for USD13.9 billion. It said the acquisition, by value, is the largest in the information technology services sector following HPs purchase of Compaq in 2002.EDS is a leading outsourcing services provider, with the ability to provide lifecycle capabilities in health care, government, manufacturing, financial services, energy, transportation, consumer & retail, communications, and media and entertainment.
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Today outsourcing technology development is a big way in which companies in Northern Ireland and the Republic of Ireland compete, according to Lee Tedstone sales and marketing director of Nvolve Limited Outsourcing service.
Tedstone states. Thats why companies are continuing to watch spend and return on investment ROI in development of their applications he says.Nvolves outsourcing service is based in Northern Ireland with offices in the Republic of Ireland and India, specializing in the development of outsourcing to India while keeping the project and account management in Ireland.
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Indian outsourcer Infosys Technologies said Monday that it has agreed to terms for a recommended cash offer for Axon Group, a vendor in the U.K. of consultancy and services around software from SAP. The deal is valued at GBP 407.1 million USD 754.5 million, and Infosys is offering to acquire Axons shares at a premium of 33.1 percent over the six month average price of the shares, it said.
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Phone firm Bharti Airtel Ltd plans to outsource more of its internal functions as it enters businesses such as direct to home, or DTH, and Internetdelivered television services, chief executive Manoj Kohli said. Indias largest mobile phone firm by subscribers first outsourced network and tech management four years ago in an attempt to cut costs and focus on adding customers.The company, which has 75 million mobile and fixedline phone customers, is adding three million subscribers a month even as it diversifies into DTH and socalled Internet protocol TV, or IPTV, services. The challenge is to manage scale while keeping costs low, Kohli said.
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HCL Technologies Ltd. HCL, Indias leading global IT services company, today announced the completion of the implementation of Guidewire ClaimCenter for New Jersey Manufacturers Insurance Company NJM, the largest automobile and workers compensation insurer in New Jersey. HCL assisted NJM in the configuration, integration, data conversion and claims reporting aspects of the Guidewire ClaimCenter implementation, serving as the companys IT partner and driving its transformation in claims processing.
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India is the top choice for companies looking to outsource R and D with an offshoring business there expected to grow 23 percent to USD21 billion by 2012 and a talent pool in its largest hub, Bangalore second only to Silicon Valley, according to a study by a management consulting firm. The number of outsourced R and D centers in India has leapt from 180 in 2000 to 594 this year, according to the first report on Indias R and D centers from Zinnov . The huge talent pool in India has been fueling that growth, Zinnov said in its report.
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Finlands state run technology research and innovation funding agency Tekes is planning to open an innovation centre in India to tap the vast human resource pool here. It will link up with other organisations involved in similar activities. The innovation centre, called FinNode, would aim to promote Finnish innovation in India, Tekes director for software and digital media, Risto Setala, said.
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A new initiative may soon see Scotland rival Eastern Europe as the UKs primary near shore outsourcing destination.
Andrew Rigby, a lawyer who has specialised in IT and outsourcing contracts for nearly 20 years, set up the Outsourcing Hub Initiative six weeks ago.The plan aims to encourage worldwide firms to outsource high end business processes to Scotland rather than the low end services typically contracted out overseas.
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Indias top three outsourcing majors, Tata Consultancy Services TCS, Infosys and Wipro, will gain enough muscle to take on todays IT giants like IBM, Accenture and EDS by 2011, IT research company Gartner said. These vendors are increasingly being considered for strategic service deals, and will augment or, in some cases, replace todays acknowledged megavendors by revenue IBM Global Services, Accenture and EDS in this space by 2011, predicts Gartner. The IT research firm has based its projection on a comparison of growth rates of Indian firms and MNCs.
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Lootah IT Solutions LITS, the information and communication technology ICT division of S.S. Lootah Group of Companies, signed a cooperation deal with Technopark Trivandrum, a technology park based in Kerala, South India, an announcement from the company said.As part of the agreement, Lootah IT Solutions plans to set up a full fledged development and operations center at the Technopark campus to provide a modern information infrastructure for service industries, the company said.
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Technology services firm Cognizant Technology Solutions Corp., rattled by the downturn in the US economy, is expanding rapidly in emerging markets such as China and India as it looks for succour, but the move may take a while to provide a balm.Investments being made in those geographies will start showing results two to three years from now, said chief executive Francisco DSouza.
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Chennai based Outsourced Product Developer OPD Aspire Systems, wants to extend its presence in the Indian market. Shankar Krishnamoorthy CTO of Aspire Systems said, The Indian OPD segment is gathering momentum. Earlier, organizations used to create a team internally to develop products, but this scenario is fast changing.
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Four of the top five Indian IT services vendors have now released their results for the latest quarter.That includes TCS, Infosys, Wipro and Satyam, leaving fourthranked HCL yet to report as it wraps up what is now its year end. Uncertainty about the economy, predominately in the strongest US and UK markets, has meant that these players have hit alltime lows in revenue growth and margins. This is except for Satyam, which managed to increase both measures thanks in part to its lower dependence on the US financial services sector and a string of acquisitions.
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HCL America, Inc., a wholly owned subsidiary of HCL Technologies Ltd. HCL, Indias leading global IT services company, today announced it will open a U.S. delivery center in Wake County, North Carolina. The company will invest USD3.2 million and hire more than 500 employees over the next five years, thanks in part to a state Job Development Investment Grant awarded to the company.
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In a first of its kind business proposition in India, Datacom Solutions, the telecom services arm of the Videocon group, has floated the idea of outsourcing its IT solutions on a revenue sharing basis. Datacom has received participation proposals from five top IT services companies IBM, TCS, Wipro, Tech Mahindra and HCL Technologies to outsource services, which, industry sources say, could be worth about Rs 3,000 crore over a 7 to 10 year period.
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As retailers ramp up their store count in the country, they are hiring IT companies for quick and cost effective rollouts. This is offering huge opportunities for tech companies in the vertical that is currently growing faster than the industry average of 20 to 22 percent. A week after Infosys launched ShoppingTrip360, a platform that enables retailers and consumer product manufacturers to get realtime information on shoppers buying behaviour, Wipro Infotech has bagged a five year IT outsourcing deal from Spencers Retail Ltd. Wipro Infotech offers services like integrated outsourcing, point solution, infrastructure management and managed services to its retail clients.
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