| Xchanging, Lehman India, TCS, CGSL, Convergys, Medicare, IBM, Accenture |
| Wednesday, 08 October 2008 | |
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Xchanging to acquire majority stake in Cambridge Solutions UK-based Xchanging Plc plans to acquire 75% stake in Cambridge Solutions for about Rs. 6,868.4 m. Xchanging will pay Rs 3,712 m in cash and issue 15.2 m shares to Cambridge. This acquisition will expand the company globally and enhance its IT and BPO services. Lehman India operations to be acquired by Nomura The Japanese financial services group, Nomura Holdings has acquired the three BPO captive units of Lehman namely Lehman Brothers Financial Services (India) Private Limited, Lehman Brothers Services India Private Limited and Lehman Brothers Structured Finance Services Private Limited based in Mumbai. The acquisition will add to the company's IT and other support services. TCS to acquire CGSL Citigroup's captive BPO unit, Citigroup Global Services (CGSL) will be reportedly acquired by TCS for an estimated $550 m. The acquisition will assure TCS a 5-year service deal with Citigroup as well as add 12,000 employees. Convergys to ramp up in India Convergys plans to hire 2,500 new contact centre agents in India in addition to the existing 13,000 employees. Currently, Convergys has centers located in New Delhi, Mumbai, Bangalore, Hyderabad and Pune. Medicare extends IT outsourcing contract to IBM Medicare has extended its technology outsourcing contract by one year valued at $56 m. The contract which was to expire in March 2009 has been extended by a year to March 2010. As per the contract, IBM will provide the company's mainframe, help desk, gateway and data storage facilities. Accenture wins a 5-year application outsourcing contract from Telstra Telstra has awarded a five-year contract to Accenture to maintain the company's customer care and billing platform. As per the contract, Accenture will ensure that the platform operates efficiently and will be in charge of the ongoing management of the platform. |
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