IT companies like TCS & HCL Tech expect strong deal pipeline in FY15

IT companies like TCS & HCL Tech expect strong deal pipeline in FY15

Deals & Contracts, Outsourcing News/ PR
India's top-tier software services firms have reported a smart improvement in stock valuations over the past year, boosted to a large extent by their stellar financial performance and partly because of the lack of good investment options in a sluggish domestic economy. The optimistic management commentary by Tata Consultancy Services (TCS) and HCL Technologies who unveiled their numbers for the quarter to December on Thursday indicates that the rally in the sector is expected to continue considering a clouded political and economic scenario ahead of national polls later this year. TCS, Infosys, and HCL Tech have reported their December quarter numbers so far. Of these, HCL Tech appeared to be on a strong footing while Infosys continued to report sluggishness. TCS delivered numbers more or less on the expected line…
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Investment bank UBS to outsource fixed income trading platform

Investment bank UBS to outsource fixed income trading platform

Deals & Contracts, Outsourcing News/ PR
Swiss bank UBS will begin outsourcing its fixed income trading platform to two technology groups in an attempt to save costs, a source told Reuters. UBS declined to comment. French trading software firm Murex and Ion Trading have been finalised to handle bookings and electronic exchange gateways, the source said. The combination of a regulatory drive to make markets less risky, a reduction in banks trading for their own account and the end of a 30-year bull market in fixed income is forcing all banks to rethink their operations and, in most cases, shrink. Europe's leading investment banks took a trading revenue battering in the third quarter last year that gives a glimpse into the upheaval facing the industry as a whole. Fixed Income, Currencies and Commodities units are particularly…
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CGI signs contract with new Swedish government authority

CGI signs contract with new Swedish government authority

Deals & Contracts, Outsourcing News/ PR
STOCKHOLM, SWEDEN - CGI  has been chosen to deliver business critical IT services to the Swedish Health and Social Care Inspectorate (IVO), a new government authority established on June 1, 2013 to monitor health, medical care and social services in Sweden. The four-year outsourcing agreement covers IT infrastructure and operations management, as well as application development and management for business critical applications such as task management systems and desktop applications. The estimated value of the contract is approximately 120 million Swedish crowns (approx. CAD $19.5 million). As part of the agreement, CGI will help to ensure IT is an effective business enabler for IVO, creating efficient ways of working, driving cost savings, and freeing the authority to focus fully on its mission of supervision, permissions and monitoring. "CGI was the…
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Serco Awarded Multi-Million Dollar Support Services Contract with the Canadian Department of National Defence

Serco Awarded Multi-Million Dollar Support Services Contract with the Canadian Department of National Defence

Deals & Contracts, Outsourcing News/ PR
RESTON, Va., - Serco Inc., a provider of professional, technology, and management services, announced today that the Company has been awarded a two-year contract extension by Public Works and Government Services Canada to provide site support services at the 5 Wing Canadian Forces Base in Goose Bay, Canada. This new contract extends the current 11-year agreement through March 2016. The extension is valued at just under $100 million over a two-year period. Under the extension, Serco will continue to perform the majority of the non-military operation and maintenance functions at this base, which is located in Central Labrador. The base is comprised of two 10,000 foot runways, over 200 buildings totaling almost 275,000 sq. meters, and extensive civil infrastructure. The base has a training area that covers 130,000 sq. km.…
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Accenture Wins U.S. Contract for Obamacare Enrollment Website

Accenture Wins U.S. Contract for Obamacare Enrollment Website

Deals & Contracts, Outsourcing News/ PR
Accenture Plc (ACN), the second-biggest technology-consulting company, will take over construction of healthcare.gov, the Obamacare enrollment website that debuted with crippling computer problems in October. The U.S. government has awarded Accenture’s Federal Services unit a one-year contract, with an initial payment of $45 million, the Dublin-based company said in a statement yesterday. Accenture will succeed Montreal-based CGI Group Inc. (GIB/A), which drew criticism for the website’s early stumbles. While the site has improved, healthcare.gov’s first two months were marred by delays, error messages and garbled data that bogged down insurance sign-ups in the 36 U.S. states served by the federal system. Accenture led construction of California’s better-performing state exchange. “Accenture will bring deep healthcare industry insight as well as proven experience building large-scale, public-facing websites to continue improving healthcare.gov,” David…
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Belk signs technology deal to improve shopping experience

Belk signs technology deal to improve shopping experience

Deals & Contracts, Outsourcing News/ PR
Belk Inc. has signed an agreement with technology firm Accenture to deliver a seamless shopping experience across its in-store, online and mobile platforms. The Charlotte department store chain selected Accenture because of the company’s multi-channel retail experience. The collaboration will help Belk deliver new features to customers faster and at a lower cost, says John Belk, president and chief operating officer. Terms of the deal were not disclosed. “Customers have many ways to choose to shop with us, and this project helps us ensure our brand, our service and our fashion assortments are reflected across all channels,” he says. Accenture is a global management consulting, technology services and outsourcing company headquartered in New York. It has clients in more than 120 countries. Accenture will help Belk implement a new digital…
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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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Firstsource bags deals worth Rs 550 cr

Firstsource bags deals worth Rs 550 cr

Deals & Contracts, Outsourcing News/ PR
RP-Sanjiv Goenka Group controlled BPO firm Firstsource Solutions Ltd has bagged new long-term orders worth $87 million (approximately Rs 550 crore). According to Sanjiv Goenka, Group Chairman, "hits" (new orders) have gone up despite a slowdown across key markets. "We have struck deals worth of $87 million (during the first half)," he told Business Line. The company had failed to secure any new deals last year. Goenka is also the Chairman of Firstsource, which primarily operates in the BFSI (banking, financial services and insurance), healthcare and telecom and media segments. Of the over Rs 2,800-crore consolidated income, the Mumbai-headquartered company reported last fiscal, 46.2 per cent was from its North American operations and 34.2 per cent from the UK. India and the rest of the world contributed around 19.6 per…
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iGate bags $80 million contract from Orange Communications

iGate bags $80 million contract from Orange Communications

Deals & Contracts, Outsourcing News/ PR
BANGALORE: iGate has secured a $80 million outsourcing contract from Orange Communications to transform the telecom provider's IT infrastructure and rationalize its vendor landscape in Switzerland.Orange mobile network covers 99% of the population in Switzerland. Under the terms of the agreement, iGate will transform and manage all enterprise systems, including ERP, business intelligence, infrastructure and data network & telephony services.iGate will also provide Infrastructure as a service for Orange Switzerland and specific partners - as well as a multilingual service desk to monitor and report all vendor performance metrics. The data centre is operated through Equinix in Zurich where iGate also has contracts with other Swiss companies from the finance and insurance sectors. Derek Kemp, EVP and head of Europe and Australia in iGate said, "We are excited to begin…
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