IT firm Cognizant on Thursday said it has acquired privately-held Hedera Consulting, a move that will strengthen the former’s consulting and digital transformation capabilities for clients in Belgium and the Netherlands...
L&T buys V G Siddhartha, Coffee Day stake in Mindtree for Rs 3,210 cr
Infrastructure major Larsen & Toubro has purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through block deal for about Rs 3,210 crore. According to data available at the...
L&T may raise Mindtree stake to 26%, get a hefty dividend
Larsen and Toubro Ltd on Tuesday formalized its stake purchase in Mindtree Ltd from Café Coffee Day (CCD) founder V.G. Siddhartha and two CCD affiliate firms for ₹3,218.32 crore and is now looking to buy at least 6%...
Wipro’s ₹10,500 crore share buyback explained in 5 points
The board of IT major Wipro on Tuesday approved a ₹10,500 crore share buyback programme, its third in four years. In 2017, Wipro had undertaken a ₹11,000 crore buyback and in 2016, a₹2,500 crore programme. A share...
Mindtree’s dividends to make takeover costlier, may cost firm Rs 530 cr
Amid L&T takeover bid, Mindtree on Wednesday announced interim, final and special dividends for its shareholders, totalling Rs 27 per share. This move may push up the acquisition cost for the engineering major. This...
TCS hungry for acquisitions, scouting for assets to boost growth, says COO
India’s largest IT services firm Tata Consultancy Services (TCS) is “hungry” for acquisitions and is scouting for assets that can bring in intellectual property and widen market reach to further...
Wipro board to consider equity share buyback proposal on April 16
Information technology (IT) major Wipro on Wednesday said it would consider a buyback proposal in its next board meet scheduled on April 16. If the proposal is approved, this will be the third such buyback by the...
Baring Private Equity Asia to acquire 30% in NIIT Tech for Rs 2,627 cr
Funds affiliated with Baring Private Equity Asia (BPEA) will buy about 30 per cent stake in mid-sized IT services firm NIIT Technologies from NIIT Ltd and other promoter entities for about Rs 2,627 crore, as per a...
NIIT Technologies to acquire WHISHWORKS; sell 89% stake in Esri India
NIIT Technologies has said it will sell its entire 88.99 per cent in ESRI India Technologies and buy Hyderabad-based WHISHWORKS IT Consulting, an IT services and consulting company specialising in MuleSoft and Big Data...
The inside story of the Mindtree shakedown
Late one Sunday evening in March this year, V.G. Siddhartha, who was in Mumbai, texted Mindtree Ltd’s executive chairman Krishnakumar Natarajan in Bengaluru about his decision to sell 20.3% shares the founder of the...
Intel consolidates IT operations with Infosys, lays off US employees
Intel laid off hundreds of IT workers in US and Costa Rica last week as the company consolidated its IT operations under single vendor, Infosys, reports said. While the number of affected employees from this process of...
Mindtree evaluating ‘several options’ to stave off L&T hostile takeover bid
Mindtree board is evaluating “several options” to find way out of the L&T’s hostile takeover bid, the IT firm’s executive chairman Krishnakumar Natarajan said on Thursday as he made it clear...
