Bengaluru-based IT services firm Infosys said it will take over the mortgage administration services unit of ABN AMRO, based in Amsterdam, Netherlands. Infosys will acquire a 75% of the shareholding in Stater, while the remaining stake will continue to be with ABN AMRO. Financial details of the deal were not disclosed. Stater offers pure-play, end-to-end […]
Software company Aurionpro Solutions Ltd said it received contract worth Rs 20 crore from ‘one of the leading banks in Singapore, having significant operations in South-East Asia’. Integro Solutions, the Singapore-headquartered wholly-owned subsidiary of Aurionpro, bagged a contract for the implementation of the company’s REACH CLIMS loan origination platform across the bank’s network in more […]
India’s largest smartphone maker Xiaomi has launched Mi Pay, its payment service, in India, marking the first time the service has been expanded beyond its home market of China. The company will use the National Payment Corporation of India’s UPI and Bharat Bill payment network for its core functionality. The company has tied up with […]
IT firm Tata Consultancy Services (TCS) on Monday said that it has been selected by offshore drilling company Seadrill to transform its digital infrastructure. According to the new deal, TCS will support Seadrill’s global lT operations on its its mobile offshore drilling rigs as well as its onshore locations, and will provide local support services […]
IT major Wipro Limited has launched a Industrial Internet of Things (IIoT) centre in Kochi, its third, after Mountain View and Bangalore. Industrial Internet of Things refers to the concept of extending internet connectivity beyond conventional computing platforms such as personal computers and mobile phones into various non-internet enabled physical devices. Embedded with electronics, internet […]
Financial software provider Wipro Gallagher, a unit of Wipro Ltd, launched the latest version of its loan origination software, NetOxygen. The new version offers more control to lenders and better streamlining, the Indian company said. Version 6.0 also offers a web-based dashboard, designed to provide updates on the loan status. The new version also aims […]
Azim Premji, chairman of Wipro, has allocated shares worth about Rs 52,750 cr to an endowment under the Azim Premji Foundation. This means that the economic benefits of the shares — such as the money that can be obtained by selling or pledging them — can only be used for the activities of the foundation. […]
Cloud-based software firm Ramco Systems said it received an order from Australia-based property management company Opteon Solutions for its payroll management software. Ramco will implement its Single Touch Payroll software which will streamline functions such as calculation of salary, increments and incentives, retroactive pay, country-specific statutory compliance, as well as tax reporting. The software features […]
The Public Works Department will set up a network of closed circuit cameras in Delhi by September. The contract for the project has been awarded to Bharat Electronics Ltd or BEL, which has in turn contracted Mumbai-based Aurionpro Solutions Ltd for the installation and maintenance of the surveillance system. “Aurionpro shall supply and install cameras […]
State Bank of India and Hitachi Payment Services announced the start of operations of their payment processing venture in India as India’s largest bank tries to stay on top of the merchant-payment business. Hitachi took a 26% stake in SBI Payments in January for an undisclosed amount. SBI Payments was already India’s biggest merchant-enabler payment […]
Infosys said it has paid Rs 34.35 lakh to settle the investigation into the incident of the company paying over Rs 17 cr as severance pay to Rajiv Bansal, who resigned as its finance head in October 2015. There have been allegations, including from the side of founder Narayana Murthy, that everything was not well […]
Mumbai-based software developer Aurionpro Solutions reported a sharp increase in profits for the Oct-Dec quarter, aided by a 22% jump in its revenue. The compay, which makes software for the financial sector, infrastructure projects and cyber security, reported a 44% increase in net profit for Oct-Dec to Rs 15.5 crores. Revenue jumped to Rs 115 […]
India-based telecom equipment maker Tejas Networks said it has signed an agreement to set up a ‘center of excellence’ in Kerala to mentor students and start-ups in the state. The center will focus on training, skills development and mentoring of college students, young entrepreneurs and high-potential electronics startups in the state. “Senior technologists from Tejas […]
Bangalore-based IT services firm Infosys said it has sold its minority stake in Israel-based CloudEndure for $15.3 million. The company had invested $4 million in the cloud computing start-up for a stake of less than 20% three years ago Infosys did not clarify who was buying the stake or what the reason for the sale […]
HCL Technologies has been picked as the services partner for Broadcom’s enterprise software products, one of the two primary business units of CA Technologies, a software and solutions company that the chipmaker acquired earlier this year for $19 billion. HCL Tech will also take over some of the former employees of CA Technologies. “Effective immediately, HCL […]
Tata Consultancy Services (TCS) said it will deploy an enhanced policy management solution for Phoenix Group, Europe’s largest life and pensions consolidator and a TCS client of 12 years. The move will not only give more advanced features for Phoenix Group, but also increase the number of Phoenix policies managed using TCS’s BaNCS platform to 5.5 […]
Tata Consultancy Services said it has acquired the business of BridgePoint Group, LLC, a U.S. management consulting firm that caters to the financial services industry and specializes in retirement services, “through the purchase of select company assets”. The company did not disclose the value of the transaction. “TCS currently partners with eight of the top […]
Infosys, the Bangalore-based technology company, announced it would create 1,200 jobs in Australia and open three new ‘innovation hubs’ by 2020. The company said 40% of the jobs will be filled with Australian university graduates from areas like computer science and design. This is part of the company’s efforts to broad-base its workforce by opening […]
Bangalore-based IT services company Mindtree has decided to collaborate with Indian Institute of Science Bangalore (IISc), one of India’s top higher education institutes, to design solutions using Artificial Intelligence or AI. It will do so by creating an endowment, Mindtree Associate Professor Chair on Artificial Intelligence, at the institute to encourage research into the application of […]
Wipro, one of India’s top IT services exporters, reported a fall in net profit for the second quarter, despite getting a lift from the falling rupee, due to a sharp increase in ‘other expenses. Net profit for the September quarter came in at Rs 1,886 cr, down from Rs 2,094 cr in the preceding three […]
