Unisys signs outsourcing Contract with DIMA
 
Unisys has signed an outsourcing contract worth $110.5 million with DIMA, Australian Department of Immigration and Multicultural Affairs. As part of the deal, Unisys will provide outsourced desktop services, including service desk operations, applications support business-support services, and secure e-mail/ Internet services. The company will also help maintain the stability of the IT infrastructure and improve reporting processes.  
    
IBM signs contract with Yara
 
Norwegian producer of mineral fertilizers, Yara International, has entered into an IT outsourcing deal with IBM. The seven-year deal worth £100 million ($195.9 million) involves a range of IT support services including IT infrastructure and business applications to the firm's global and local offices.
    
TCS signs a deal with Bank of Pichincha
 
Tata Consultancy Services (TCS) has signed an outsourcing deal with Ecuador's largest private bank, Banco Pichincha. The five-year deal worth $140 million involves IT outsourcing and BPO services. A comprehensive solution will be developed for the bank and will involve renewal of the bank's core banking solution. To service the deal, a new 500-man center will be set up in Ecuador. The Bank's current employees will be retained.
    
Scandent to sell off its stake in Cambridge

Bangalore-based Scandent plans to sell off its majority stake in Cambridge Solutions. Lehman Brothers is looking for buyers and has already approached Apollo, Fidelity and EDS for the same. With employee strength of over 3,900 and vertical focus in banking, financial services and insurance, Cambridge is expected to be valued over $300 million.
    
Kuoni to integrate its Indian captive outfit with its global network

Kuoni Travel Group plans to integrate its Indian BPO, VFS, with its global network. VFS is Kuoni's wholly owned captive center offering visa processing services to the parent. With VFS registering revenues of Rs 1,000 million ($22.6 million), Kuoni is encouraged to extend the services to its global centers.
    
First Carlyle Ventures fails to get additional stake in Allsec Technologies

The open offer by First Carlyle Ventures to procure an additional 20% stake in Allsec Technlogies did not meet with success as Carlyle managed to mop up only 2.8% from the Indian stock market at close. The share price offered for purchase (Rs. 260 or $5.8) was much below the prevailing market price of over Rs. 300 ($6.7), which is said to have led to the failure to obtain the stake.
   
Accenture and AIG Europe in $100 million deal

AIG Europe has awarded a 10-year US$100 million (Euro77 million) business process outsourcing contract to Accenture. Accenture's Insurance Services unit will provide IT and insurance support services to AIG Entrepreneur, an AIG unit specializing in Property and Casualty insurance for small and medium enterprises.  
   
Amtex to enter India

New York based IT consulting and services company Amtex Systems is setting up a BPO unit in Chennai, India. The center will have 300 employees engaged in servicing customers in healthcare, telecom market research, and technical support. The unit will be put up at a cost of Rs. 220 million ($4.9 million), and is expected to contribute $15 million in revenues in 2007.
   
Cognizant founder raises $225-million fund

Kumar Mahadeva, the founder of Cognizant, has partnered with Ramanan Raghavendran to raise a $225 million fund under the name 'Kubera Partners' on the London Stock Exchange. The fund will invest in Indian businesses servicing clients in developed markets, and US-based companies seeking to utilise Indian outsourcing services.