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Infosys names a new CEO: welcome to the hot-seat Salil S. Parekh

Infosys has named its next leader: Salil S. Parekh will become as CEO an managing director as of January 2nd, 2018, and has been appointed for five years. Parekh has spent the last 25 years of his working life at Capemini, where he reached the rank of deputy CEO and sat on the Group Executive Board. Infosys needed a new CEO …
Stab in the back

Infosys CEO quits, citing 'untenable atmosphere' created by critics

Infosys CEO Vishal Sikka has resigned, effective immediately, but neither he nor the company's board are happy he's going. The former SAP executive's woes stem from anonymous sources accusing him of making lavish payouts to Infosys executives in order to secure their silence about improprieties on his watch. Some of Infosys' …
Simon Sharwood, 18 Aug 2017
Bait

Infosys says it'll hand shareholders $2bn

Infosys, Asia's second biggest software exporter, has promised shareholders it will increase its dividends and stock buybacks to $2bn this year. Bloomberg reports that the company will start distributing as much as 70 per cent of its annual free cash flow. Infosys predicts revenue growth of between 6.5 and 8.5 per cent for the …
Gareth Corfield, 14 Apr 2017
Tube sign and Big Ben. Pic: Sgt Tom Robinson RLC/Crown copyright

Big Ben belittled by Infosys' plans for enormous erection

Infosys, which reckons its Mysuru education centre is the world's largest corporate university, says it's going to build a 135-metre clock tower there. The massive erection would shade London's 96 metre Big Ben, California's 87m Hoover Tower and Cornell's 53m McGraw Tower, says India's Economic Times. Why does Infosys need …

Infosys tires of boring ERP maintenance business

Infosys appears to have tired of maintaining ERP systems by hand and would prefer to offer more interesting consulting services instead. The shift is evident in the decision to slap down 200 million crisp greenbacks to acquire Panaya. The newly-acquired outfit's main offering is the CloudQuality suite, a toolset that offers …
Simon Sharwood, 18 Feb 2015
HP and Shrek 2

Shrek-as-a-service: DreamWorks and Infosys team up

Here's an odd one: Indian outsourcer Infosys and Hollywood animation studio DreamWorks Animation have created a “strategic engineering partnership”. The deal looks to involve Infosys running its eye over the technology DreamWorks uses to make movies and figuring out how to commercialise it. The Indian company will “... deploy …
Simon Sharwood, 17 Nov 2014
india

Finacle manacled as Infosys spins out products and platforms

The evolution of India's IT services companies continues apace, with news that Infosys has decided to step away from its products, platforms and services (PPS) business. The star of Infosys' PPS business is Finacle, a core banking product that has obvious synergies with the company's services business and is responsible for …
Simon Sharwood, 13 May 2014
Suitcase bulging with cash

India says HP and Infosys used window dressing to shrink tax bills

India's tax authorities believe Infosys and HP owe it lots and lots of unpaid taxes. Despite a New Delhi statement last year which was thought to have reprieved several IT companies from additional tax demands, the Income Tax department has now begun to reassess what’s owed by Infosys and HP. The taxman’s beef is that the …
Phil Muncaster, 23 Jan 2014

Infosys set for $35m fine over US visa naughtiness

Indian IT services giant Infosys is bracing itself for a $35 million (£22m) fine from the US government for visa irregularities, in what will be the largest financial penalty ever handed out for an immigration infraction. The fine, expected to be announced later today, comes after a Department of Homeland Security and State …
Phil Muncaster, 30 Oct 2013
grab_that_cash

Lawsuit: Infosys abuses visas to discriminate against US staff

A class-action lawsuit filed against IT outsourcing firm Infosys claims that the company is systematically abusing the visa system and actively discriminates against hiring US workers for staff position. The lawsuit, filed in US District Court in Eastern Wisconsin by VMware specialist Brenda Koehler, claims that up to 90 per …
Iain Thomson, 6 Aug 2013
grab_that_cash

Infosys vows to fight Indian tax claim

It’s not just Western technology giants that are being targeted by the Indian government, now local IT services behemoth Infosys has been forced to challenge a Rs.5.77 billion (£68.7m) tax demand by the authorities. India’s second biggest outsourcer was hit with the tax bill for the 2009-10 year last month. The demand relates …
Phil Muncaster, 21 May 2013
channel_teaser_money_top

Infosys gobbles Lodestone for £218m

Indian outsourcer Infosys has coughed CHF330 (£218m) in cash for SAP consultancy Lodestone. The management consultancy is headquartered in Switzerland, but it has global operations including a burgeoning footprint in the UK. "A key plank of our Infosys 3.0 strategy is to expand our Consulting & Systems Integration (C&SI) …
Paul Kunert, 10 Sep 2012
The Register breaking news

Indian outsourcers Infosys outsource to WISCONSIN

Indian outsourcing company Infosys has set up a new software centre in Wisconsin, and a much bigger one in Bangalore. The new American office will service a Harley Davidson contract and will house 125 staffers in the MidWest. The new Bangalore office will be the base of 1,400 software engineers and developers purported to be …
Anna Leach, 25 Jul 2012
The Register breaking news

Westpac drops tech roles

Westpac continues to slash jobs as part of its offshoring initiatives, revealing that it will cull a further 119 technology roles, most of which will be awarded to India’s Infosys. The job cuts follow on from the recent dismantling of 188 positions in November and 560 in February. The bank is in hot water with unions and …
The Register breaking news

Apple's secret outsource: 'Even more software to be made in India'

A visit by Apple's CIO to India in January has resulted in some hefty software deals for two Bangalore-based firms, according to The Times of India. Apple's top internal software guy, Niall O'Connor, met with executives from India-based Infosys and Wipro on a visit to Bangalore from 29 to 31 January – and apparently some juicy …
Anna Leach, 13 Feb 2012
cloud

Infosys says outlook bad despite profit boost

Indian outsourcer Infosys managed a small increase in profits for the first quarter but warned that the outlook for the full year is still bad. For the first quarter ended 30 June 2009 India's second largest outsourcer made revenues of $1.122bn compared to $1.155bn in the same quarter last year. But net profit was up slightly …
John Oates, 10 Jul 2009
cloud

Axon tells Infosys to put up or shut up

Axon has told Infosys it needs to increase the £400m offer it made for the firm or risk losing out to a rival bidder. At the end of August Indian giant Infosys offered £407.1m to buy UK-based services outfit Axon Group, and Axon's directors recommended that shareholders accept the offer. But yesterday they changed their minds …
John Oates, 3 Oct 2008
Pacman

Infosys swoops on Axon

Shares in computer software firm Axon Group jumped more than 20 per cent this morning after it agreed a £407.1m takeover from Infosys Technologies. Infosys announced yesterday (pdf) that it planned to buy the UK-based SAP consultant for a recommended cash offer. Axon consults with multinationals that use SAP as their …
Kelly Fiveash, 26 Aug 2008

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