“I won’t be coming here again, I think,” said Infosys co-founder and chairman Nandan Nilekani at the company’s quarterly results press conference, indicating that he may step down from his role at Infosys sooner rather than later. Nilekani faced several questions from journalists about how long he planned to stay in the role of the […]
IT services provider Infosys Ltd said it has largely exhausted the possibility of improving its profit margins by increasing employee utilization levels and will focus on bringing down on-site employee numbers to boost margins. The company reported an employee utilization level of 84.9% for the three months ended December — an all-time record — compared […]
Infosys reported a quarter that was largely in line with expectations and said it retains its full-year revenue growth guidance at 5.5-6.5%, excluding the impact of currency movements. With nine months gone, the company has grown at 5.6% in constant currency terms so far. For the third quarter, revenue in constant currency was up 0.8% […]
Two crucial factors that swung the decision in favor of hiring Capgemini veteran Salil Parekh as the new CEO of Infosys were his familiarity with working in the IT sector in Bangalore and his overall ‘cultural fit’ with the Indian IT industry, said Kiran Mazumdar-Shaw, who heads the committee that spearheaded the search for a […]
Infosys said it launched Finacle Trade Connect, a network-based system of distributed record keeping for banks based on the block chain technology. A blockchain-based record is open to all participants and all participants have a copy of all the data. Moreover, all transactions are recorded on a real-time basis on every copy of data. In […]
Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]
Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of certain closing conditions, it […]
Nandan Nilekani, the stand-in chairman of Infosys Ltd today gave his stamp of approval to the investigations conducted in the context of corruption allegations around the IT company, and suggested that the company and its founder Narayana Murthy will be able to develop a ‘trusting relationship’ going forward. “I am fully persuaded, as is the […]
Infosys said its Q2 revenues grew sequentially by 2.9% in USD terms and 2.2% in constant currency terms. It said for the year, revenues are expected to grow 5.5%-6.5% in constant currency, which is lower than its previous guidance. Three months ago, it had maintained sales growth guidance at 6.5-8.5% on a constant-currency basis for […]
IT outsourcing company Infosys said it has been chosen as a partner by lift-maker KONE for developing and maintaining its enterprise resource planning or ERP system. Infosys has been able to “transition, elevate, evolve and transform” KONE’s ERP service delivery and landscape, said Nitesh Banga, Senior Vice President and Global Head of Manufacturing, for the […]
IT services provider Infosys said it now offers a private cloud solution built using SUSE Linux and Openstack. The solution will make use of Openstack cloud and datacenter solutions developed by Germany-based Micro Focus SUSE. Infosys and Micro Focus SUSE have jointly invested in a center of excellence to develop validated reference architectures, accelerators and […]
Infosys said it completed the acquisition of Brilliant Basics, a London-based product design and customer experience company. The acquisition was first announced a month ago. “Through this acquisition, Infosys further expands its worldwide connected network of Digital Studios that are focused on fulfilling the needs of global clients for end-to-end Digital Transformation solutions required to […]
Indian promoters are unwilling to give total management control to professional boards and managers, a survey by Assocham has revealed. A majority of the corporate firms have promoters’ holding well over 50 per cent and even those with much lower stake are not willing to bet fully on professionals, found the survey that was based […]
Infosys said it has been inducted into the Dow Jones Sustainability Indices (DJSI) and is now part of two of the indices — DJSI World and DJSI Emerging Markets. The indices measure the economic, environmental and social performance of companies and are based on the companies’ corporate governance, risk management, branding, climate change mitigation strategies, […]
Former Infosys CEO Nandan Nilekani, who took over as Chairman of the company to resolve the tension between key shareholders and the management, said he did not join the IT company to run it. He said he was not in the company to step into the shoes of Vishal Sikka, the CEO who resigned last […]
Infosys founder and former chairman N R Narayana Murthy is all set to lay his cards on the table on his recent allegations about possible corruption at Infosys at a conference call with investors today at 6:30 PM. UPDATE: Murthy’s call has been reportedly postponed to next week. The call comes five days after Infosys […]
Infosys Ltd director board today came out strongly in support of ex-CEO Vishal Sikka and issued a strong rebuttal to a letter released by Infosys founder Narayana Murthy. Earlier in the day, Murthy was scathing in his review of the actions taken by the company and its board in addressing concerns of poor accountability and […]
Infosys co-chairman Ravi Venkatesan today assured investors and employees of Infosys that the changes brought about by Vishal Sikka will not be rolled back or lost with the exit of the CEO. Venkatesan was speaking at the press conference organized by the company to address worries about the resignation of the CEO. He also said […]
Vishal Sikka, the SAP-veteran who took over as the CEO of Infosys four years ago, has put in his papers after continuing differences of opinion with some of the key shareholders. He will, however, continue as the vice chairman of the company. He also wrote a long letter to the employees of explaining his reasons […]
Infosys said it appointed Unilever veteran D Sundaram as an independent director. He is currently the Vice Chairman and MD of TVS Capital Funds Ltd. “He joined Unilever Group in 1975 and served in various leadership capacities in Unilever Group in a career spanning over 34 years, including Director of Finance & IT, and Vice […]
