MindTree Ltd said on Tuesday it agreed to buy Bangalore-based Kyocera Wireless India Pvt Ltd and make an upfront payment of $6 million, while further payments will be linked to revenue in FY11 and FY12. The IT firm expects the acquisition to contribute about $9 million in revenues for the period Oct 2009 to March [...]
Posts Tagged ‘Mindtree’
10 Sep
Signs of IT business revival. Wipro, TCS, CTS started promotions and salary increment.
In the first visible signs of a turnaround in the Indian IT sector, Wipro, has lifted the freeze on promotions and hikes. TCS and CTS also announces promotions. Apart from this, Cognizant sent a mail to all its employees a couple of months back, stating that it has kicked off an appraisal process to promote [...]
6 Aug
Mindtree cutting salaries for its R&D staff.
Bangalore-based IT firm MindTree said it will cut salary by 15 per cent of about 200 staff in the research and development (R&D) division to reduce costs amid the global economic slowdown. “The utilisation levels had fallen below 60 per cent and hence the decision to cut salary by 15 per cent was taken. This [...]
16 Jul
Coming from Onsite? Good, please take two days of paid haliday – Wipro
Wipro office in Hyderabad has directed its employees returning from overseas assignments to report to work 48 hours after their arrival. These two days will be paid leaves for them. Given that of the 34 confirmed cases of swine flu so far, most have been techies, the city’s IT firms have stepped up their swine [...]
20 Jun
Good news pouring in from Indian IT Services Providers. Infosys, TCS, Satyam, Tech Mahindra disclosing few nice surprises.
Last week Satyam (Part of Tech Mahindra now), Infosys and TCS disclosed few nice surprises. It seems that Indian IT Service sectors has left the past and looking ahead for future. In relief to the Satyam employees, about 400 people who were asked to sit on the virtual bench have been called back into the [...]
5 Jan
Satyam looks out for merger with IT peers HCL tech and Mindtree. Mindtree closed the door on Satyam's face saying not interested.
Satyam Computer Services’ management and some funds have approached two smaller rivals about a merger to fend off any possible hostile bid for India’s fourth-biggest software services exporter, the Business Standard said on Monday, but one of the firms said it was not interested.Citing investment banking sources, the newspaper said Satyam held talks with HCL [...]
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