Indian IT companies queue up for Costa Rica

Indian IT companies queue up for Costa Rica

Locations, Outsourcing News/ PR
CHENNAI: Costa Rica, a small South American nation of 4.8 million people, is at the centre of the future expansion of many Indian IT firms who are looking at alternative ways to serve their primary market -- the US. IT firms like Infosys, Cognizant and CSS Corp set up delivery centres in Costa Rica in 2013 and are expanding their workforce there. Costa Rica ranks among top five global services locations in the Americas, according to a report by A T Kearney, a consultancy firm. Such is the growth story that 80% of new delivery centres set up in Latin America in 2012 were in Costa Rica. Traditionally an agrarian economy, Costa Rica has gone through rapid changes in the last decade to attract investments from some of the biggest…
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TCS in 5-year deal with United Stock Exchange

TCS in 5-year deal with United Stock Exchange

Deals & Contracts, Outsourcing News/ PR
The United Stock Exchange (USE) has dished out a five-year contract to Tata Consultancy Services for deploying and managing a new online trading system as part of its quest to turn profitable next fiscal. Under the contract, TCS will replace the erstwhile technology platform at the currency derivatives exchange with a system that is more cost efficient but scalable enough to accommodate its future expansion plans, multiple sources close to the development told Business Line. Once the solution is up and running, USE expects a reduction in its operating costs, thereby helping the exchange’s balance sheet return to black in the next fiscal, an official in the know said. For TCS, which is offering an end-to-end trading platform for the first time, this deal is being seen as a launch…
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Morgan Stanley to open new outsourcing centre in Bangalore

Morgan Stanley to open new outsourcing centre in Bangalore

Locations, Outsourcing News/ PR
Mumbai: American investment bank Morgan Stanley will be opening its third outsourcing centre in the country at Bangalore next year. "This new site in Bangalore is aligned with our continued focus on leveraging India's skilled and diverse talent pool and creating value for the firm," Morgan Stanley Co-Chief Executive for Asia and Pacific Bill Strong was quoted as saying in a statement Monday. The bank started its first Global In-House Center (GIC) in India in 2003. It has two such facilities in Mumbai, where it has people handling functions across technology and data, operations, fund services, finance and other specialised areas. The US financial firm's total headcount in the country, including at the two GICs and in MS India, stands at 1,800, the statement said. A company representative, however, declined…
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Essar’s BPO-arm set to open another call centre in UK: report

Essar’s BPO-arm set to open another call centre in UK: report

Locations, Outsourcing News/ PR
The BPO-arm of an Indian conglomerate Essar Group is planning to open another call centre in the UK, forming part of a "reverse trend" that is bringing jobs back to Britain. Aegis, the business process outsourcing (BPO) arm of Essar, is planning to open a huge call centre in Glasgow. The company, which already has a call centre in Manchester with 400 employees, is being held up as a sign of a wider trend. "Customers often prefer to deal with call centre staff in the UK. Because of this, the Indian company Aegis is looking to create 2,500 jobs in Glasgow, and Santander has done the same," UK business secretary, Vince Cable said in ‘The Sunday Times.’ "British industry is coming back. Hundreds of companies that have moved manufacturing, call…
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CSS Corp inpact with ICT Academy

CSS Corp inpact with ICT Academy

Other News/ PR, Outsourcing News/ PR
CSS Corp, a technology services company has signed a Memorandum of Understanding (MoU) with ICT Academy of Tamil Nadu to provide free technical training to students, according to a press release. The MoU was signed by Raj Reddy, EVP & Chief Delivery Officer-Global, CSS Corp and M. Sivakumar, CEO, ICTACT, to launch the CSS Corp Skill+Outreach programme. The objective will be to improve employability of students in the State. The programme, a part of CSS Corp’s corporate social responsibility, will train students in soft and technical skills. They will be periodically assessed on knowledge, skill and other abilities required for employment. This will benefit final year students in arts and science colleges and engineering colleges in and around Chennai. Around 500 students are to be trained by June 2014, the…
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Cognizant buys Hyderabad office space for Rs 112 crore

Cognizant buys Hyderabad office space for Rs 112 crore

Locations, Outsourcing News/ PR
BANGALORE: Nasdaq-listed IT software firm Cognizant has bought a 11.04-acre land parcel that includes a 250,000 sqft operational office space facility in Hyderabad, from Bangalore-based technology park developer DivyaSree. The Rs 112-crore transaction, struck in Hyderabad's IT hub of Gachibowli, gives the $7.35-billion IT services company room to further develop around 1 million sqft of office space. Last year Cognizant had bought 18-acres of land in Kochi; work here has begun. Despite political uncertainties over the status of Hyderabad, the city's IT corridor of Madhapur, Kondapur, Hitec City and Gachibowli continue to remain the most active commercial micro-market, owing to the expansion and relocation requirements of IT/ITeS firms. Industry analysts estimate that around 3-million sqft of commercial office space is likely to be released into Hyderabad's IT corridors over the…
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Ex-GlobalLogic founders to start angel fund, Rajul Garg to run India operations

Ex-GlobalLogic founders to start angel fund, Rajul Garg to run India operations

Other News/ PR, Outsourcing News/ PR
Months after selling their stake in IT outsourcing firm GlobalLogic, founders Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay are all set to launch their angel fund. In October 2013 the four exited GlobalLogic after they sold their stake to private equity major Apax Partners. "We, the former founding team, are in the process of announcing an angel fund. We are already involved in a few startups in our personal capacities but till now all our efforts were very informal in nature. We are formalizing this effort and will come up with an early stage fund. The fund would be focused in making investment in India and the US in sectors like education, healthcare and outsourcing. These are the sectors that we know," Singh told ET.com. Singh says they…
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Birlasoft buys US’ EnablePath

Birlasoft buys US’ EnablePath

M&A/ Alliances, Outsourcing News/ PR
Birlasoft, mid-sized information technology services company of the $1.2-billion C K Birla group, has taken the inorganic route to increase delivery capabilities and expertise in the high-end cloud consulting services in the customer relationship management (CRM) business. On Monday, it announced it had bought Atlanta, US-based EnablePath, a fast growing CRM software provider, for an undisclosed amount. "We are open to more such strategic acquisitions to strengthen our analytics, mobility and supply chain capabilities," said Preeti Das, chief executive officer (CEO). The company has roped in investment banks to draw a list of companies for possible acquisition or strategic alliances. The strategy is to buy, align and grow, company executives said. A special team, Office of Strategy Management, works closely with CEO’s office for this, executives added. This is a…
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Customer services provider Convergys to buy Stream Global

Customer services provider Convergys to buy Stream Global

M&A/ Alliances, Outsourcing News/ PR
Customer management services provider Convergys Corp (CVG.N) said it would buy rival Stream Global Services Inc from its private equity owners for $820 million in cash in its largest ever deal to expand its client base and international presence. Shares of Cincinnati, Ohio-based Convergys jumped 20 percent after the bell on Monday.Stream's STRGB.UL clients include Hewlett-Packard (HPQ.N), Microsoft Corp (MSFT.O), Dell Inc, Salesforce.com Inc (CRM.N), Western Digital Corp (WDC.O) and Nike Inc (NKE.N).The deal is expected to add 35 cents to profit, excluding items, in the first year after closing, Convergys said.The company reported per-share earnings of 86 cents for the year ended December 31, 2012. The combined company is expected to exceed $3 billion in revenue, said Convergys, whose top customers include AT&T Inc (T.N) Comcast Corp (CMCSA.O) and…
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Cognizant opens new delivery centre in Costa Rica

Cognizant opens new delivery centre in Costa Rica

Locations, Outsourcing News/ PR
BANGALORE: IT services major Cognizant today said it has expanded its delivery and operations footprint in Americas with the opening of a delivery centre in San Jose, Costa Rica. The centre, Cognizant's fifth in Latin America and 15th in the Americas, was inaugurated by Laura Chinchilla-Miranda, the President of Costa Rica, the company said.The centre, it said, will enable Cognizant's global customers leverage the operational, technical and linguistic capabilities available in the region, while delivering deep local insights and time zone advantages to the company's growing roster of customers in North and South America. It will further strengthen Cognizant's ability to help customers address the dual mandate of driving operational efficiencies to fund innovation and business transformation, the company said in a release. "Our new center in Costa Rica marks…
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