• Global giants unite
  
  IBM has acquired PricewaterhouseCoopers' global business consulting and technology services unit, PwC Consulting for $3.5 billion in cash and stock. IBM plans to combine PwC Consulting with the business innovation services unit of IBM Global Services, creating a new Global Business Unit. According to both the companies, the acquisition is looked at creating a powerful, unmatched capability to help clients solve their business issues, exploiting world-class technology for improved business performance. - July 2002
  

• Keane looks eastwards
  
  Keane, a US-based external service provider (ESP), recently took over Signal Tree India (presently operating as an IT solutions and services company), to enhance its offshore delivery capability. Keane India will serve as the offshore company of the parent, which until now had its delivery options as onsite, offsite and near-shore capability (in Canada). After this merger, Keane India will be integrated with Keane USA and all its 40 offices across the US, UK and Canada.
  
  Explaining the takeover, Parmindar S Miglani, managing director, Keane India said, "With this tie-up, Keane will be able to offer flexible delivery options of onsite, offsite, near-shore and offshore and also give advantages of cost reduction to our customers. Whereas, for Keane India it will help in acquiring more projects and increasing our competence in verticals like manufacturing, government, high technology and energy sectors, in the next couple of years." The company has been providing its value-added services to a wide spectrum of industries that include transportation, financial services, healthcare, hospitality and the consumer products sector.- Sept 2002
  

• Large meets small
  
  HCL Technologies, India's fourth largest software services company has acquired 100 percent stake in the US-based Gulf Computers Inc., a US based IT Services Company this June. This acquisition is a step forward in HCL's non-linear growth strategy. The acquisition has commenced with the payment of the first tranche of $8 million, a second tranche of $1.75 million after six months and a series of tranches concluding three years from now. - June 2002
  
  HCL Tech has acquired through one of its subsidiaries a 35.5 per cent stake in Aquila Technologies Pvt Ltd for Rs 5.55 crore. Aquila is a Bangalore-based software solutions provider in the areas of engineering software and services like CAD/CAE, PDM/CPC, Virutal engineering frameworks, visualisation etc, - July 2002
  
  Wipro Technologies has acquired 100% stake in GE Medical Systems Information Technologies Private Limited. The consideration for the transaction is US$5.73 million. As an integral part of the transaction, Wipro also acquired Healthcare Information Systems Intellectual Properties owned by GE Medical Systems, USA. Upon completion of the transaction, the company will be renamed as Wipro Healthcare IT Limited. - July 2002
  

• Consolidation in the SME segment
  
  Chennai-based Sak Infotech, a banking and financial services software solutions company, has acquired Neemtree Technologies in an all-cash deal. Neemtree owns a product called "Enterprise Banking Technology (EBT) which has a suite of wholesale banking products had a turnover of Rs. 2 crores last year. Its clients include State Bank of India and Union Bank of India. Sak Infotech had a revenue of Rs. 13 crores last year. - Sept 2002
  
  Cat Information & Communication Private Limited, a small IT company engaged in data entry, GIS solutions and corporate training, has acquired 50 per cent stake in the $1 million US-based IT consulting company called - HDB Inc.- Sept 2002
  

• Increasing interest in BPO segment
  
  Wipro Ltd has completed the acquisition deal of 66% in Spectramind e-services. With this strategic acquisition, Wipro Technologies, the global IT services division of Wipro Limited, along with Spectramind plans to offer integrated solutions for all BPO needs of clients worldwide. - Aug 2002
  
  Wipro Limited has entered into a definitive agreement to acquire the entire equity holding owned by American Express Travel Related Services Company, Inc. in Spectramind eServices Private Limited, comprising equity shares and warrants, for an aggregate consideration of Rs 17 crore ($3.5 million). - Sep 2002
  
  Softpro Systems, a software services company, has acquired a 26% equity stake in Call World Technologies, an IT Enabled services firm, for a consideration of Rs. 1.8 crores. The acquisition is a part of Softpro's diversification plan into the ITES and BPO industries as a long-term strategy. Call World is a subsidiary of Hyderabad based Frontlinesoft, which runs a 50 seat call center servicing companies such as AT&T and Mastercard. - Sept 2002
  

• Big Deals
  
  Chennai-based Hexaware Technologies has signed a long-term agreement with Germany-based Deutsche Leasing, to assist in the restructuring and modernisation of its European IT operations. Hexaware will be the partner responsible for the core architecture and the development of a major part of the IT applications portfolio. The scope of the relationship includes the development of a new unified contract system and related leasing. The initial value of the contract is estimated at $21.5 million, to be completed by December 2004. - Sept 2002
  
  Covansys Corporation have been awarded an $83 million outsourcing project by Sirva, a global business services leader. Headquartered in Naperville, IL, Sirva is the world's most comprehensive provider of relocation services and logistics solutions for high value products. Under the terms of the contract, Sirva will outsource selected applications development and maintenance, as well as project management, to Covansys. Covansys expects to receive $83 million in revenues over a 10-year contract term. Sirva expects to reap immediate first year cost savings, in addition to long-term savings of over 20%. - Sept 2002

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