Information Technology IT Services

  • MUMBAI, Jan 15- Moving the head of Tata Consultancy Services to the top job at Tata Sons' holding company fills a critical hole for the salt-to-software conglomerate, but it leaves another at its most valuable company ahead of a complex and unpredictable 2017.. Indeed, for Tata Sons, promoting one-time Tata intern Chandrasekaran to chairman of the $100 billion...

  • *Tata Group remains embroiled in legal battle with Mistry. Chandrasekaran, 53, currently chief executive of IT outsourcing giant Tata Consultancy Services, India's most-valuable company with a market capitalisation of $67 billion, will take over as Tata Sons executive chairman on Feb. 21, according to a company statement. Tata Sons, the holding company in a...

  • EDINBURGH, Dec 8- Outsourcing group Capita announced the sale of its asset management services arm alongside a second profit warning in three months on Thursday, exposing flaws in its strategy made worse by the Brexit vote and sending its share price crashing. That in turn was a result of a slowdown in new orders coming through as new customers hesitate to commit...

  • Roper said it expected Deltek to generate $535 million in revenue and add $80 million to its cash flow in 2017.. Reuters had reported in July that Thoma Bravo was exploring a sale of Deltek. Thoma Bravo took Deltek private in an all-cash deal valued at $1.1 billion in 2012..

  • Nov 28- Activist investor Elliott Management Corp disclosed a stake of "more than 4 percent" in Cognizant Technology Solutions and urged the IT services provider to consider shaking up its board as one of several steps to boost shareholder value. "We believe that Cognizant can achieve a value of $80- $90+ per share by the end of 2017, representing upside of 50-69...

  • Nov 28- Activist investor Elliott Management Corp disclosed a more than 4 percent stake in Cognizant Technology Solutions and urged the IT services provider to take steps to boost shareholder value. "We believe that Cognizant can achieve a value of $80- $90+ per share by the end of 2017, representing upside of 50-69 percent in just over a year," Elliott Senior...

  • BENGALURU, Nov 28- Anticipating a more protectionist U.S. technology visa programme under a Donald Trump administration, India's $150 billion IT services sector will speed up acquisitions in the United States and recruit more heavily from college campuses there. President-elect Trump's campaign rhetoric, and his pick for Attorney General of Senator Jeff...

  • HONG KONG/ SHANGHAI, Nov 9- Donald Trump's victory in the U.S. election sent shockwaves through industries that rely on open trade, from airlines to cars and IT outsourcing, although shares of some companies rebounded in afternoon trading. In Asia, shares in airlines with significant exposure to global trade, such as cargo giant Korean Airlines, fell as much as 5...

  • HONG KONG/ SHANGHAI, Nov 9- Donald Trump's victory in the U.S. election sent shockwaves through industries that rely on open trade, from airlines to cars and IT outsourcing, even though many executives remain unsure what his protectionist rhetoric will mean in practice. In Asia, shares in airlines with significant exposure to global trade, such as cargo giant...

  • *Expects 2016 adj profit $3.38- $3.41/ shr vs est $3.37/ shr. Nov 7- IT services provider Cognizant Technology Solutions Corp said on Monday some senior managers may have participated in or failed to take action to prevent making about $5 million in "potentially improper payments" primarily related to real estate and procurement in India. Cognizant said in...

  • Nov 7- IT services provider Cognizant Technology Solutions Corp said on Monday some senior managers may have participated in or failed to take action to prevent making "potentially improper payments" primarily related to real estate and procurement in India. Cognizant said in September it was conducting an internal investigation into possible violations...

  • Nov 7- IT services provider Cognizant Technology Solutions Corp reported an 8.4 percent rise in quarterly revenue, helped by demand for its cloud services. The company's total revenue rose to $3.45 billion in the third quarter ended Sept. 30 from $3.19 billion a year earlier. Net income rose to $444.4 million, or 73 cents per share, from $397.2 million, or 65 cents...

  • Under Chief Executive Ginni Rometty, the technology services company has shifted toward more profitable areas, such as cloud services, artificial intelligence, analytics, and security while trimming its traditional hardware and services businesses. Revenue from those areas, which the company calls "strategic imperatives," rose 16 percent to $8 billion in...

  • MUMBAI, Oct 13- Indian IT outsourcing group Tata Consultancy Services Ltd said its next two quarters will be better after clients held back on spending in the three months to September. Net profit in the three months ended Sept. 30 rose to 65.86 billion rupees, up from 60.73 billion rupees in the same period last year and ahead of analysts' forecasts of around 62.93...

  • Garment factory workers in Mumbai, Maharashtra in India.

    Tradeshift, the "social network for invoicing," sees serious potential in India's small business sector, CEO Christian Lanng told CNBC.

  • Sept 30- IT services provider Cognizant Technology Solutions Corp said it was conducting an internal investigation into possible violations of U.S. anti-corrupt practices laws related to payments in India, sending its shares tumbling on Friday. The company also said President Gordon Coburn had resigned and would be replaced by Rajeev Mehta, the head of IT...

  • Sept 30- IT services provider Cognizant Technology Solutions Corp said it was conducting an internal investigation into possible violations of U.S. anti-corrupt practices laws related to payments in India, sending its shares tumbling on Friday. Cognizant said the investigation was looking at whether certain payments related to Cognizant facilities in...

  • LONDON, Sept 29- British outsourcing company Capita cut its full-year profit forecast by as much as 13 percent on Thursday, the latest support services firm to warn that Brexit was delaying client decisions, wiping a quarter off its market value. Capita, which employs 75,000 staff in the United Kingdom, Europe, South Africa and India, said its second-half...

  • Sept 1- Hewlett Packard Enterprise Co is in talks with buyout firm Thoma Bravo LLC to sell its software division, hoping it can fetch between $8 billion and $10 billion, according to people familiar with the matter. Other private equity firms that made offers for the software assets include Vista Equity Partners Management LLC, Carlyle Group LP and TPG Capital LP,...

  • Apollo is negotiating a price of more than $3.5 billion for Rackspace, the sources said on Friday. Shares of Rackspace started trading in New York on Friday up 14 percent at $30.21 after the Wall Street Journal reported on Thursday that one or more unidentified private equity firms were in advanced talks to acquire Rackspace, and that a deal could be reached as...