| MNYL, IBM, HCL, Axon, Agility, NetSol, Intelenet, M7 Aerospace |
| Wednesday, 01 October 2008 | |
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MNYL signs IT outsourcing contract with IBM Max New York Life (MNYL) has signed a ten year IT outsourcing contract valued at $450 m with IBM India. As per the contract, IBM will provide complete backend IT infrastructure for the company. In addition, IBM would provide technology to offer life insurance policies with minimum documentation that would reach the semi urban and rural areas. HCL makes counter offer to buy Axon HCL has offered to buy Axon Group Plc. at 650 pence per share which is higher than Infosys' offer of 600 pence per share in cash. The Axon Board has given time to Infosys who will present its decision on the 6th October 2008. Axon has other European and Japanese buyers therefore Infosys is reportedly likely to counter bid only 15-20% higher. Kuwait National Petroleum Company extends the logistics contract to Agility KNPC has awarded a five year KD 3.2 m logistics solutions contract to Agility. As per the contract, Agility would mange the warehousing activities in Kuwait which includes material handling and spare parts. In addition it would support the inspection, site delivery, inventory management and reporting of the company. NetSol sets up a new BPO practice NetSol Technologies "NetSol" has launched a new service the financial accountancy and audit practices in the BPO segment based on the U.S and UK.'s Generally Accepted Accounting Principles and International Financial Reporting Standards (IFRS) to cater to the global customers. The company has already won a contract from an Australia-based accountancy firm and have prospects in the European market. Intelenet launches a new consulting unit Intelenet Global Services plans to open a new consulting unit headed by former banker, B Chandramouli. The consulting unit will leverage Intelenet's expertise in banking, financial and travel-related back office services. M7 Aerospace sets up BPO business M7 Aerospace LP, based in San Antonio has segregated the Supply Chain Management unit as a BPO provider. The unit will provide staffing services, contract purchasing, procurement audit services, logistics and shipping services. Related Items: |
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