Tata Elxsi to add new centers
 
Tata Elxsi, a product design services provider, is looking to expand its operations in India. Currently, the company employs 2,500 people at its facilities in Bangalore, Thiruvanthapuram, Chennai and Pune and plans to add two more locations that will be operational by the current fiscal.
    
Fiserv India to increase its India headcount
 
Fiserv India plans to increase its headcount from the existing 1,000 to 5,000 people by 2009. Fiserv India currently serves its parent company, Fiserv Inc (NasdaqGS:FISV), however it will soon offer services to its parents' 18,000 customers.  
    
Cognizant reports net profit of $75.4 million
 
Cognizant Technology Solutions (NasdaqGS:CTSH), an IT and BPO services company, has posted a net profit of $75.4 million for the quarter ended March 31, 2007, up by 59.7%. The company's Q1 revenues increased to $460.3 million, up by 61%. The rise is primarily due to the increase in demand and growth in the European market.
    
MphasiS registered a 55% increase in its Q4 revenues 

MphasiS reported INR 290.3 million ($6.73 million) net profit for Q4 2007, a 59% increase as against INR 182.6 million ($4.10 million) for Q4 2006. The company's total income increased by 55% to INR 1,610 million ($37.35 million) for Q4 2007 from INR 1,039.3 million ($23.36 million).
    
ETelecare Global Solutions to raise an IPO

ETelecare Global Solutions became the first Arizonian company to raise $75 million in an IPO. The Philippine-based outsourcing service provider will use $34 million worth capital to repay its debt and the remainder for its expansion plans.
    
IWPI plans to go public

Intelligent Wave Philippines Inc. (IWPI), a Philippine-based BPO firm engaged in providing IT business solutions plans to go public. The company has appointed BDO Capital & Investment Corp. as an issue manager and lead underwriter. IWPI stated that proceeds from the issue will be utilized towards expansion of services and explore the Japanese market.
    
IBM's expansion plans 

IBM (NYSE:IBM) plans to create 1,000 new jobs in Indiana in lieu of a contract to modernize the computers powering the state's welfare eligibility system and upgrading the supercomputer located at Indiana University. IBM presently employs about 1,000 people in Daleville and plans to add up to 500 people.