It Services

Wipro bags $1 bn Olam deal in one of its largest wins, to also buy IT arm

Eight-year deal with Singapore's Olam Group boosts revenue visibility and AI-led capabilities, alongside $375 million acquisition of IT arm Mindsprint

Wipro bags $1 bn deal from Olam Group; to acquire Mindsprint for $375 mn

IT services firm Wipro has secured an eight-year transformation deal with Singapore-based food and agri-business major Olam Group, which is expected to exceed USD 1 billion (about Rs 9,314 crore) in contract value. As part of the broader engagement, Wipro said it will acquire Olam Group's IT and digital services business, Mindsprint Pte. Ltd., for USD 375 million (about Rs 3,494 crore). "Wipro has secured a multi-year strategic transformation deal with Olam Group, a leading USD 50+ Billion Food and Agri-business headquartered in Singapore, employing nearly 40,000 people, and majority-owned by Temasek Holdings. This 8-year deal with Olam Group is expected to exceed USD 1 billion in contract value, with a committed spend of USD 800 million. "As part of this broader engagement, Wipro will acquire Mindsprint, Olam Group's IT services arm," Wipro said in a regulatory filing on Monday. Mindsprint, founded in 2007 and headquartered in Singapore, employs over 3,200 professionals across Ind

Wipro expands South Korea presence with new innovation lab in Seoul

Wipro expands its South Korea operations with a new innovation lab, larger office in Seoul, and investments in local talent to support AI-led transformation

Services sectors feel ripple effects as West Asia crisis hits operations

Aviation, hospitality, travel, e-comm, q-com, logistics prepare for dent to bottomlines; IT services insulated for now

Accenture announces new leadership for Reinvention Services division

Accenture has announced a new leadership team for its Reinvention Services division led by Manish Sharma as the company reorganises services to deliver AI-driven solutions

Tata Consultancy Services wealth erosion tops $100 billion from peak

TCS loses over $100 billion in market value from its 2022 peak as AI uncertainty and IT sector correction trigger a sharp valuation reset

Algo Rhythm: Indian technology industry's 'Yin and a Yang' moment

Country's tech industry generates $300 bn annual revenue

TCS asks staff to use AI even if it means 'cannibalising' revenue streams

TCS CEO K Krithivasan says associates should adopt AI proactively and offer AI-first solutions to clients, even if it cannibalises existing revenue streams

Coforge wins $158-mn UK contract as AI-led demand boosts deal sizes

Coforge has won a $158-million, five-year contract from a UK-based client, effective April, as AI-led conversations drive a rise in both the number and size of large technology deals in Europe

India's IT services industry set to touch $315 billion revenue in FY26

India's IT services sector is set to touch $315 bn in FY26, with AI revenues of $10-12 bn, modest headcount growth, and ER&D and GCCs driving expansion despite global headwinds

LTM bags $100 million deal from European medtech firm for 7 years

LTM has won a $100 million, seven-year deal from a European medtech firm to support and develop its flagship products, strengthening its large-deal momentum amid a tough macro environment

AI to be force multiplier for HCLTech, can boost productivity: Roshni Nadar

HCLTech chairperson Roshni Nadar Malhotra says AI will enhance per-employee productivity and transform entry-level roles, as the firm expands into new areas including semiconductor packaging

TCS CEO & MD K Krithivasan sees no major shrinkage of jobs due to AI

TCS CEO K Krithivasan said AI will not cause significant job shrinkage in software engineering, noting evolving roles and sustained need for system integration despite rising automation

Majority of VC community in India very risk averse, says Vinod Khosla

Vinod Khosla says Indian VCs are overly focused on short-term revenue and liquidity, avoiding bold bets needed for innovation, while AI is set to disrupt IT services and BPO firms

Disrupting the disruptor: How AI forces IT services to redefine their role

The pivot to AI-driven models marks a structural shift - one that is fundamentally changing the $285 bn industry

AI is new reality but may not spell doom for IT services: Experts

Automating tasks won't overhaul data estates, security frameworks: Experts

India placed third in global AI vibrancy index after US, China: Report

India placed third after the US and China in AI vibrancy index, scoring strongly on R&D and talent while advancing data governance and policy frameworks

Cognizant gives 100% bonus to employees for 2025 after strong results

Cognizant awards a 100% bonus after beating growth estimates, with CEO Ravi Kumar saying the company has reached its "winner's circle" ahead of schedule

Hexaware Q4 net profit halves to ₹100 crore on New Labour Code provisions

Hexaware's December-quarter net profit fell 49 per cent year-on-year to Rs 100 crore due to provisions for the New Labour Code, even as revenue rose over 10 per cent

Some of our gig workers make more than fresher IT engineers: Urban Company

Gig workers associated with Urban Company are earning at par and, in several cases, much higher than entry-level salaried professionals employed in the country's IT and ITeS sectors, the doorstep home and personal care services firm said on Wednesday. Urban Company claimed that the average monthly net in-hand earning of all active service professional partners on Urban Company platform has increased about 7 per cent to Rs 28,322. "Urban Company service professionals earn at par, and in several cases much higher than entry-level salaried professionals employed in India's IT and ITeS sectors. With average net monthly earnings of Rs 28,322, Urban Company service professionals' earnings are comparable to typical IT fresher salaries," the company said in a statement based on nine month data of current fiscal year. Urban Company said the findings are based on publicly available industry data, including Glassdoor estimates, assuming that entry-level IT and ITeS salary benchmarks are at Rs