Data protection norms in EU may hurt Indian IT sector: Nasscom

Data protection norms in EU may hurt Indian IT sector: Nasscom

Locations, Outsourcing News/ PR
NEW DELHI: Even as outsourcing demand from Europe revives after the debt crisis, data protection regulations in the region governing trans-border data flows could hurt the $108 billion Indian IT-ITeS industry, sectoral body Nasscom today said. "Challenges that I see are the US Immigration Bill and the data security in Europe. These are areas that we are working on...I had gone (there) in September and had conversations with EU." "...security in Europe has the potential of going into directions which will not be conducive for (those) countries as well as our (IT) industry. They will get hurt and we will also get hurt," Nasscom President R Chandrasekhar told reporters on the sidelines of the 3rd annual Action for India forum. He added that engagement is a continuous process and Nasscom…
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HCL to set up 100-acre IT city in Lucknow

HCL to set up 100-acre IT city in Lucknow

Locations, Outsourcing News/ PR
Technology group HCL  has said it would set up a 100-acre IT city in Lucknow, a move that will help create job opportunities for about 25,000 people in Uttar Pradesh. The Uttar Pradesh government has awarded the project to Vamasundari Investments, the investment arm of HCL, the group said in a statement.No financial details were available.About 60 acres of the proposed IT city will be allotted to IT and ITeS, including a hi-tech skill development centre with a capacity to train more than 5000 people, it added. The remaining 40 acres is intended for support infrastructure and initiates of social impact, it said. "IT City shall play a crucial role in the overall economic development and boost up industrial growth of the state. Apart from this, it will directly create…
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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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Virtusa expands European operations with TradeTech buyout

Virtusa expands European operations with TradeTech buyout

Locations, Outsourcing News/ PR
US-based IT consulting, technology implementation and application outsourcing services provider, Virtusa Corporation, has expanded its footprint in Europe with the acquisition of Swedish outsourcing and consulting firm TradeTech Consulting Scandinavia AB. The Nasdaq-listed company, which has its global delivery centres at Hyderabad and Chennai in India, has acquired all the outstanding shares of TradeTech for approximately $20 million cash, and up to $4 million in earn-out consideration upon TradeTech’s achievement of certain revenue and profit milestones for the 2014 calendar."The complementary expertise that TradeTech delivers will help increase our total addressable market and provide our combined client base with expanded service offerings. In addition, this acquisition is an important step in establishing Virtusa in Nordic (Denmark, Finland, Iceland, Norway and Sweden) countries and providing a broad set of consulting and…
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