| IBM Daksh, HCL Technologies, Polaris Sofware, TCS, Zensar |
| Wednesday, 23 July 2008 | |
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IBM Daksh BPO to acquire 1.19% stake in KLG Power IBM Daksh Business Process Services will invest Rs 120 m in KLG Power, a subsidiary of KLG Systel. IBM will acquire 1.19% stake in KLG Power by purchasing 1.97 lakh equity shares at Rs 10 each. KLG Systel reported a net profit of Rs 770 m for the year ending March 2008 and expects to increase this figure to Rs 990 m in the current fiscal. HCL Technologies signs deal to acquire financial services unit of Liberata HCL Technologies has signed a contract to acquire the financial services unit of BPO Liberata (LFS) for $2 m. As per the deal, HCL Technologies will recruit around 8,000 employees of LFS and will also acquire four LFS units located in Romford, Preston, Croydon and Welwyn Garden City. Polaris Sofware: profit for the quarter ending June 2008 increases by 87% Polaris Sofware Lab reported 87% profit growth for the quarter ending 30 June 2008. Revenues went up by 11% qoq to Rs 3.17 b while profit increased by 26% to Rs 270 m. Revenues from Opt imus, a BPO unit of Polaris increased by 80% yoy. TCS revenues in Q1 ending June 2008 increased by 21% yoy TCS reported an EPS of $0.3 while revenues went up by 21% yoy to $1.5 b in the quarter ending 30 June 2008. The company added 8,982 employees in the quarter. The attrition rate (including the BPO division) was at 12.8%. The company also announced a dividend of Rs 3 per share. Zensar Technologies sets up CRM unit for Kotak Mahindra Bank's credit card business Zensar Technologies has set-up a centralized CRM unit for Kotak Mahindra Bank's credit card business. The unit located at Zensar's Pune campus began operations in April 2008 and has more than 250 employees. It offers services like customer acquisition, customer service, collections and retention for Kotak's credit card product range to customers in 10 cities. |
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