DXC
Dodging SaaSocalypse: AI’s enterprise moment could belong to IT services
ITC Infotech's merger with Happiest Minds highlights the trend of mid-market consolidation in response to AI advancements. The global IT market faces challenges, requiring companies to adopt AI-centric capabilities for survival. Enterprises are burdened with legacy systems, which present both challenges and opportunities for funding technological transformations. Companies will need to adapt to the evolving landscape by integrating AI into existing frameworks effectively.
TCS to take $70 million hit after US Supreme Court rejects appeal in trade secrets case
Tata Consultancy Services will book a $70 million charge in the first quarter of FY27. This follows the US Supreme Court's decision not to hear its appeal in a trade secrets case. The Indian IT giant's total financial exposure in this dispute now stands at $220 million. The company had previously set aside $150 million for the case.
US Supreme Court rejects TCS appeal in $168 million trade secrets case
The U.S. Supreme Court has refused to hear Tata Consultancy Services' appeal. This upholds a $168 million award against Tata. DXC Technology had sued Tata for allegedly stealing trade secrets related to life-insurance software. A jury initially proposed $210 million. A judge reduced this to $168 million. The appeals court also supported this decision. Tata argued the damages were unjustified.
US court of appeals upholds $194 million damages against TCS in CSC/DXC trade secrets dispute
A US Court of Appeals has issued an adverse ruling against Tata Consultancy Services (TCS) in a trade secrets dispute with DXC Technology, upholding a $194 million damages award. While the court vacated the previous injunction, it directed the District Court to reassess the order. TCS is evaluating its options and intends to vigorously defend its position.
IT union seeks probe on DXC Technology's 4,800 campus onboarding delays
Data from the IT employee union NITES showed that India’s leading IT firms including Tata Consultancy Services (TCS), Infosys, Wipro and LTIMindtree have delayed joining dates of than 10,000 freshers. Harpreet Singh Saluja, president at NITES said these young professionals well-being and careers are at risk, we have asked the ministry to act as soon as possible.
TCS fined Rs 1,600 crore by US court for misappropriation of trade secrets
Tata Consultancy Services (TCS) was ordered by a U.S. court to pay a total of $194.2 million (around Rs 1,600 crore) in a lawsuit filed by Computer Sciences Corporation (CSC), now DXC Technology Company (DXC). The lawsuit, filed five years ago, alleged that TCS stole CSC's trade secrets.
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DXC Technology tumbles 18% as investors fret over latest restructuring plan
Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates.
TCS faces $210 million penalty in DXC lawsuit
“TCS respectfully disagrees with the jury’s advisory verdict. The matter will now be decided by the Court, which has ordered further briefing from the parties,” a company spokesperson said.
Fortune 500 company DXC Tech partners with Muskaan Dreams for education in rural India
The impact of this partnership will be felt across 10,000+ students in 50 government schools located in Mumbai and Noida. The initiative will empower teachers through cutting-edge technology solutions including the integration of interactive smart TVs, real-time monitoring dashboards, and comprehensive training workshops, the companies said.
NASSCOM Foundation, DXC partner to touch 1 million people on digital literacy, reskilling
In its fourth consecutive year of collaboration, NASSCOM Foundation and DXC Technology will be working towards the common goal of bridging the skills gap that the youth in India faces today, and address the digital divide, especially in Tier-II and Tier-III cities wherein there are accessibility constraints.
DXC Technology to continue operating virtually, not to call employees back soon: India chief
This comes at a time when the Indian IT sector is gradually asking employees to return to offices amid challenges of high attrition, moonlighting and to inculcate social capital.
India is driving global transformation for DXC Technology
A lot of DXC Technology’s innovation around modernisation, migration to cloud and connected cars is being done out of India, India MD Nachiket Sukhtankar says.
Xchanging Technology Services India settles case with Sebi
The settlement order came after the company filed an application with the regulator proposing to settle the matter without admitting and denying the alleged violations.
Atos ends talks with DXC for a potential acquisition
Atos and DXC have “agreed to discontinue further discussions” on the acquisition proposal. The combined entity would have created a total workforce of 75,000 people in India.
DXC revenue expected to stabilise at 10-12% for Mphasis
When private equity firm Blackstone acquired Mphasis from HPE in 2016, there was an agreement that it would provide Mphasis a minimum revenue commitment of $990 million over the next five years.
Atos-DXC merger, if successful, won't pose a threat to Indian IT firms
If not a threat, the Atos-DXC merger will at least allow the combined entity to compete with the likes of TCS, Infosys, Accenture and IBM, especially in the cloud-services space, Greyhound Research CEO Sanchit Vir Gogia says.
French IT firm Atos makes $10 billion DXC takeover approach: Sources
Atos, which is working with advisers on a bid for the former Hewlett Packard Enterprise business, made a formal approach to New York-listed DXC this week, the sources told Reuters on condition of anonymity.
DXC Technology hires 5000 campus graduates in India this year
The technology services company said it has plans to increase the number of graduate hires next year with the aim to ensure the right representation and talent pool required to serve customers.
DXC Technology appoints new HR leader for India
DXC Technology has brought on board Lokendra Sethi as its vice-president of HR, said a company statement issued today.
Analysts cautious on growth from DXC for Mphasis
DXC has been streamlining its business by expanding its offshore presence, making analysts cautious about its dependency on Mphasis, with some pulling back expectations from the channel and others revising their estimates. Business from DXC accounts for up to 28% of revenue. Mphasis has been able to grow revenues from its ‘direct core’ segment.
IT services companies hit as clients delay big deals
Slower global economic growth caused by the US-China trade war and a delayed Brexit have taken a toll on IT companies, as clients have cut or delayed spending. Earlier this month, DXC Technology, with about $20.75 billion in revenue, slashed its revenue target by $275 million to $19.5-$19.8 billion, as clients postponed signing new deals.
Mphasis eyes more business from new clients
DXC Technology, a company spun off from Mphasis' erstwhile parent HP, contributed 24.1% of the mid-tier IT services provider’s revenue in the September quarter.
Buy Mphasis, target price Rs 1,040: Centrum Broking
Mphasis’ top accounts have been growing at a solid pace over past few quarters.
DXC tech may hire 10,000 hands with digital tech skills in India
DXC Tech joins other global firms to increase its offshore base in India. Meanwhile, a host of US and European product firms are moving their tech development work to India.
DXC to bridge digital talent gap internally, reduce external hiring
With growing use of digital technology, cos are seeing outcome-based deals, requiring more talent versed in emerging technologies.
Luxoft Buy: DXC may cut work to Mphasis
On Monday, the company said it would buy Luxoft Holding for about $2 billion to strengthen its digital capabilities.
DXC Technology to acquire Luxoft for $2 billion
DXC is expected to benefit from Luxoft’s engineering services strength across major European and other markets, said analysts.
Buy Mphasis, target Rs 1,300: HDFC Securities
Buy MphasiS Ltd. at a price target of Rs 1300.
HCL Tech discontinues JV arrangement with DXC, inks IP deal
The deal further stated that under the new partnership, HCL will be responsible for product development and modernisation, maintenance and professional services of core banking products.
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