BENGALURU/NEW DELHI: Wipro and HCL Technologies joined the list of Indian software companies reporting underwhelming results in a reflection of the industry’s struggles with volatile currency movements and the rapid transformation in the world of information technology. With the effects of cross-currency movements counted, Wipro said revenue in the fourth quarter shrank by 1.2%.
While the Indian IT firms are getting aggressive in buying smaller ticket size companies in the US, sources with direct knowledge share that one such candidate, Sierra-Cedar with HQ in Georgia, US is close to launching a sale process soon. Valuation expectation for a complete sale of Sierra-Cedar is pegged at around $350 million, a source said.
NEW DELHI: Nokia India, now subsidiary of Microsoft Mobile, has signed a fresh 3-year contract with IT services and product distribution company HCL Infosystems to sell its mobile devices. ” NISPL, subsidiary of Microsoft Mobile OY, and HCL Infosystems Ltd have signed a contract that will enhance the footprint of Microsoft Mobile devices across the Organized Trade and General Trade channels and rural India,” HCL Infosystems said in a statement.
NEW DELHI: India’s fourth-largest information technology outsourcing company HCL Technologies said on Tuesday that it expects a strong dollar to adversely impact its revenue in the second quarter ending December 2014. “During this quarter, US dollar continued to strengthen against almost all global currencies like the British pound, euro, Australian dollar and so on. Since the company’s revenues are derived in multiple currencies, the revenues for the quarter to be reported in the US dollar would have an adverse impact of about 210 basis points on account of strengthening of the US Dollar against various global currencies,” said HCL Technologies in a mid-quarter briefing note filed with the BSE.
MongoDB and HCL Infosystems have announced a global partnership which will allow HCL Infosystems to further broaden its solution offerings in the emerging big data segment by developing services around MongoDB. Commenting on the partnership, Kamal Brar, Vice President APAC, MongoDB, said: “Big Data is more than just addressing increasing volume; organizations need solutions that can manage increasing data variety and velocity.
NEW DELHI: India’s fourth-largest information technology company HCL Technologies said it signed a 30-month agreement with WGL Holdings’ unit Washington Gas, which distributes natural gas to about 1.1 million customers in the District of Columbia, Maryland and Virginia in the United States. As part of the deal, whose value was not diclosed, HCL will modernize the billing software for Washington Gas’ legacy mainframe customer care and billing software. Washington Gas will also replace its scheduling and dispatch mobile workforce software with a single, integrated and more efficient platform for utility billing.
NEW DELHI: Country’s fourth largest software services firm HCL Technologies has bagged a multi-million dollar IT infrastructure transformation deal from the De Beers Group of Companies, the world’s leading diamond business, the company said today. Leveraging its Enterprise of Future (EoF) offering, HCL will deliver end-to-end solutions including data centre operations, multi-lingual service desk, LAN management, security services, service management including tools, desk side support and project services to transform De Beers’ IT infrastructure across the globe, it said in a statement.
Tata Consultancy Services and HCL Technologies each declined about 9 per cent on Friday, the worst daily fall in at least five years and HCL Technologies each declined about 9 per cent on Friday, the worst daily fall in at least five years, amid investor concern over growth prospects after the financial performance of both software exporters in the September quarter missed analysts’ expectations.
India’s information technology sector, after what seems like years, is back to where it once was: optimistic about the future. The Big Four of India’s software-led services industry that includes business process outsourcing (BPO) pleasantly surprised the markets this month with solid results for the January-March quarter. All four — Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies — showed numbers that were better than analyst expectations that dispelled concerns about persisting worries in advanced economies affecting their business.