<img class="gwt-Image" src="/photo/47080062.cms" />Has <keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword> paid a lot to secure a place in the US, the largest IT outsourcing market, by acquiring IGate? 
 Capgemini has offered to buy <keyword id="2827205" type="UNKNOWN" weightage="80" keywordseo="IGate-Corpfor">IGate Corpfor</keyword> $4 billion funded by internal cash, debt and equity. 
 
This is 3.2 times IGate's annual revenue of $1.2 billion in 2014. 
 
Some of the deals over the last four years, where small and midsized Indian IT companies were bought, the ratio was around 1.6 times. In addition, the deal value is over 15.3 times IGate's earnings before interest, tax, depreciation and amortisation (EBITDA) of $263.9 million in 2014 said The Economic Times. 
 
It is marginally higher than the Bloomberg median of 14.6 for similar deals. This may make the IGate acquisition sound expensive. 
For instance, Patni Computer Services was valued at over Rs 5,560 crore or 1.6 times its annual revenue when IGate acquired it in January 2011. In another deal, Baring Partner valued Hexaware at Rs 3,000 crore or 1.5 times sales during the August 2013 acquisition of the latter. Analysts think that the premium is justified given the IGate's strong foothold in the North American market, which has been the biggest outsourcing market for IT vendors. <keyword id="369645" type="COMPANY" weightage="80" keywordseo="Cap-Gemini">Cap Gemini</keyword> predominantly serves Europe with over 70% revenue coming from the region. After the acquisition, the Europe share will reduce to a half. 
 "Capgemini's EPS (earnings per share) is expected to improve by 12% in CY16 and by 16% in CY17 due to the acquisition. Given IGate's scale and efficiencies, the premium seems to be justified," said Reliance Securities' IT analyst <keyword id="2827206" type="UNKNOWN" weightage="80" keywordseo="Apurva-Prasad">Apurva Prasad</keyword> told ET. 
 IGate's revenue increased at a three-year compounded annual growth rate (<keyword id="107168" type="ORGANIZATION" weightage="80" keywordseo="CAGR">CAGR</keyword>) of 18% in 2014. Net profit available for common equity holders rose at a CAGR of 28.4%. 
 
A look at some of the deals struck a decade ago reveal that valuations were aggressive where the buyers identified operational synergies. 
 <keyword id="43340" type="CITY" weightage="80" keywordseo="Oracle">Oracle</keyword> valued iFlex at 3.5 times sales during the 2005 acquisition worth Rs 3,960 crore ($909 million) at the time. In another deal during 2006, EDS valued Mphasis BFL at 3.5 times sales said ET. 
 
iGate ended the day 3.29 per cent higher on Nasdaq.

Capgemini-IGate: Has Capgemini over paid for IGate?

<img class="gwt-Image" src="/photo/47028344.cms" /> The fastest way to expand the existing business is by acquiring another company. And it appears that Europe's biggest IT services company <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword> is likely to acquire NASDAQ-listed <keyword id="20356" type="CITY" weightage="20" keywordseo="igate">Igate</keyword>, which was founded by <keyword id="1042242" type="PERSON" weightage="20" keywordseo="Sunil-Wadhwani">Sunil Wadhwani</keyword> and <keyword id="1042241" type="UNKNOWN" weightage="20" keywordseo="Ashok-Trivedi">Ashok Trivedi</keyword>. This was revealed by multiple sources in a Times of India (TOI) report. 
 
According to the news daily, if the deal gets striked, it will be one of the biggest M&amp;As in the IT services arena. 
 
The TOI futher reported that in 2014, Igate had $1.27 billion as revenue. And now, its market capitalization stands at $3.6 billion. 
 The speculation about Igate being sold started soon after <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> giant Apax Partners, which financed much of Igate's $1.2-billion acquisition of <keyword id="46963" type="COMPANY" weightage="20" keywordseo="Patni-computer">Patni Computer</keyword> in 2011, converted its debt into equity four months ago to become Igate's largest shareholder in the company. 
 
Currently, Apax owns 29% stake in Igate, while Igate founders together hold 25% of the shares. According to the TOI report, Capgemini is looking at acquiring the 54% stake held by the promoters and Apax initially. However, it may later take Igate private by buying out the shares of other shareholders, sources told TOI. 
 Capgemini told TOI, "We do not comment on market rumours or speculation." Igate had not responded to queries at the time of going to print. There had been talk of French IT company <keyword id="327292" type="COMPANY" weightage="20" keywordseo="Atos">Atos</keyword> and <keyword id="6380915" type="COMPANY" weightage="20" keywordseo="BPO">BPO</keyword> <keyword id="6556311" type="POSITION" weightage="20" keywordseo="Major">major</keyword> <keyword id="25698" type="CITY" weightage="20" keywordseo="Genpact">Genpact</keyword> looking at acquiring Igate, but Capgemini is said to have nearly sealed the deal. 
 Peter Bendor Samuel, CEO of <keyword id="107837" type="CITY" weightage="20" keywordseo="Everest-Group">Everest Group</keyword>, said Igate would make an excellent acquisition for Capgemini. "Th<keyword id="267073" type="ORGANIZATION" weightage="20" keywordseo="EY">ey</keyword> are the right size to absorb, not too small so it does not move the dial, but not so big that they will struggle. Igate will be accretive to margins. Capgemini has a large net operating loss in the US from their failed acquisition of EY's consulting practice, and the large <keyword id="1472170" type="UNKNOWN" weightage="20" keywordseo="iGate-US">Igate US</keyword> presence will allow them to use it," he said. 
(Image:

Capgemini eyeing Igate?

<img class="gwt-Image" src="/photo/49255355.cms" /> Months after the <a href="http://www.businessinsider.in/searchresult.cms?query=Capgemini+">French IT giant Capgemini </a>acquired <a href="http://www.businessinsider.in/searchresult.cms?query=iGate">iGate</a>, a New Jersey-based IT firm, <keyword id="376348" type="PERSON" weightage="20" keywordseo="Ashok-Vemuri">Ashok Vemuri</keyword>, the CEO of <keyword id="20356" type="CITY" weightage="20" keywordseo="igate">iGate</keyword> announced his exit from the organisation. 
 As per an official statement by <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword>, Vemuri resigned from the company to pursue other interests. 
 
In April this year, Capgemini striked a $4 billion deal to acquire iGate. 
 
Requesting anonymity, official sources informed that iGate finance chief Sujit Sircar would now take the interim responsibility of the role. Sircar, however, declined to make any comment on the matter. 
 
If reports are to be believed, Vemuri is set to walk away with a handsome amount in his pockets. As per the regulatory filings, his share in iGate was worth $19 million following the Capgemini acquisition. The move must have affected his final package, but there are no details available so far. 
 
Vemuri was recently elevated to Capgemini’s group management board, the company’s highest executive decision-making body, reported The Economic Times. 
 
Vemuri’s plans of quitting were widely speculated at the time when Capgemini bought iGate that eventually resulted in a major organisational overhaul and exits of a number of executives. 
 
It has also been said that Vemuri ditched iGate's "iTops" strategy that had been crafted by his predecessor Phaneesh Murthy, the former Infosys global sales head. 
 
Prior to iGate, Vemuri spent 15 years at India's second largest software exporter Infosys where he was a board member and held a number of roles, including head of Americas and head of the banking and financial services business. 
Image: indiatimes

iGate CEO Ashok Vemuri quits

<img class="gwt-Image" src="/photo/27835438.cms" /> If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

Strife At The Top: These
11 C-Suite Execs From India
Were ‘Let Go’ In 2013

<img class="gwt-Image" src="/photo/46987947.cms" /> 
At a time when it’s raining acquisitions everywhere, a company names Apax Partners is planning to exit an acquisition. According to an Economic Times report, Apax Partners, which had financed IGate's $1.2-billion (Rs 7,482 crore at current exchange rate) takeover of Patni, is planning to exit the acquisition, which is on the top lists of acquisition targets in the IT industry. 
 
The financial daily reports that Capgemini, Atos and Genpact are trying to acquire a part of IGate’s Patni Computer that Apax Partners have put on sale. 
 
In November, Apax Partners, which owns about 30% of the company, converted its debt in the company into equity and then filed with the US Securities and Exchange Commission to have the option to sell its entire stake. 
 
 
The report further explains why three IT players (mentioned in the report above) are interesting in iGate. "IGate is the Goldilocks of the IT industry. They are not too big, not too small. They are just the right size and scale. And they'd be a good fit for Capgemini, Atos or even Genpact," said Peter Bendor-Samuel, CEO of IT advisory firm Everest. 
 
Of all three, Capegemini is expected to be a likely buyer of the US-headquartered company feels analysts. London-based UBS analyst Michael Briest mentioned in a note that Capgemini would receive additional tax benefits from the deal, as it is carrying a large deferred tax asset in the US.

Guess who’s racing to claim their stakes in IGate?

<img class="gwt-Image" src="/photo/47515546.cms" />Before French IT giant <keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword> could acquire <keyword id="20356" type="CITY" weightage="80" keywordseo="igate">IGATE</keyword>, the US-based company sold off its domestic infrastructure management services (IMS) operations to India’s <keyword id="2879848" type="UNKNOWN" weightage="80" keywordseo="MindSquare-Technologies">MindSquare Technologies</keyword> for about $5 million. 
 

	Under the agreement, MindSquare has acquired the entire Indian customer base of IGATE, along with its over 400 employees that provide remote and onsite IMS services to Indian customers of the US-based firm, as per a PTI report. 
	 

	MindSquare Technologies is a group company of Mumbai-based 1neoteric Technology Solutions. "Apart from the capability of offering end-to-end customer solutions, the deal has also helped us bring on board marque customers," <keyword id="2879846" type="UNKNOWN" weightage="80" keywordseo="Neoteric-Technology">Neoteric Technology</keyword> Solutions Head Anup Nair told PTI. These customers include <keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword>, Reliance Infrastructure, <keyword id="46907" type="CITY" weightage="80" keywordseo="Reliance-communications">Reliance Communications</keyword>, Castrol India, <keyword id="712657" type="PERSON" weightage="80" keywordseo="Anand-Bazar-Patrika">Anand Bazar Patrika</keyword>, BITS Pilani and <keyword id="6359595" type="ORGANIZATION" weightage="80" keywordseo="British-Council">British Council</keyword>. 
	 

	Though Nair did not tell anything about the deal size, sources said the deal is estimated to be worth about $5 million financed through internal accruals. Merisis Advisors advised <keyword id="912199" type="UNKNOWN" weightage="80" keywordseo="neoteric">Neoteric</keyword> on the acquisition. On April 27, Capgemini said it will buy Nasdaq-listed IGATE for $4.04 billion (Rs 25,000 crore) in cash. IGATE had bought India's <keyword id="110387" type="CITY" weightage="60" keywordseo="Patni-Computer-Systems">Patni Computer Systems</keyword> in 2011 in partnership with private equity giant <keyword id="218609" type="COMPANY" weightage="80" keywordseo="Apax-Partners">Apax Partners</keyword> in a $1.2 billion deal. 
	 

	Set up in 2012 by industry veterans Balakumar Vijayendran, Sanjay Nayak and Vaishali Bansal, MindSquare offers a range of managed infrastructure services. Earlier this year, it received a strategic investment from 1neoteric and became part of the 1neoteric Group. 

	 
	(Image: Indiatimes)

IGATE sells domestic IMS for $5 million to MindSquare Technologies

<img class="gwt-Image" src="/photo/48238076.cms" /> 
<a href="http://www.businessinsider.in/searchresult.cms?query=iGate">iGate</a> CEO <keyword id="376348" type="PERSON" weightage="60" keywordseo="Ashok-Vemuri">Ashok Vemuri</keyword> has been elevated to <keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword>'s highest executive decision making body. He is now part of the company’s group management board. 
 
The decision to promote Vemuri comes months after the Paris-based <a href="http://www.businessinsider.in/searchresult.cms?query=IT+services">IT services</a> giant bought the Fremont, <a href="http://www.businessinsider.in/searchresult.cms?query=California">California</a>-based outsourcing firm for $4 billion, reported the Economic Times. 
 According to two people familiar with the move, Vemuri is part of the board along with other top executives such as chairman and chief executive Paul Hermelin; deputy CEO Salil Parekh; consulting and BPO head Olivier Sevillia; infrastructure services business Patrick Nicolet; group CFO <keyword id="1484699" type="PERSON" weightage="60" keywordseo="Aiman-Ezzat">Aiman Ezzat</keyword> and people management and transformation head <keyword id="1433443" type="PERSON" weightage="100" keywordseo="Hubert-Giraud">Hubert Giraud</keyword>. 
 
A <a href="http://www.businessinsider.in/searchresult.cms?query=Capgemini+">Capgemini</a> spokeswoman confirmed the development in an email to the financial daily: "We can confirm that Ashok Vemuri has joined Capgemini’s GMB (Group Management Board)." 
 Other top <keyword id="20356" type="CITY" weightage="100" keywordseo="igate">iGate</keyword> executives have also been given new roles such as HR head <keyword id="1828560" type="PERSON" weightage="80" keywordseo="Srinivas-Kandula">Srinivas Kandula</keyword> is now leading the integration with Capgemini from iGate's side, the people mentioned above said. 
 
In April, CapGemini said it would buy iGate, which has most of its operations and employees in India, for $4 billion in cash to create an entity with a combined revenue of about $14 billion to gain access to the world's largest technology market, North America, and some of iGate's customers like <a href="http://www.businessinsider.in/searchresult.cms?query=General+Electric+">General Electric</a> and <keyword id="141194" type="CITY" weightage="80" keywordseo="Royal-Bank-of-Canada">Royal Bank of Canada</keyword>. 
 
(Image: Indiatimes)

iGate CEO Ashok Vemuri now in Capgemini’s management board

<img class="gwt-Image" src="/photo/47067432.cms" />In what will be a big deal for the global IT sector, Capgemini on Monday announced that it will acquire <keyword id="20356" type="CITY" weightage="80" keywordseo="igate">IGate</keyword> in a transaction that will amount to $4.04 billion. 
 
Capgemini and IGate entered into a definitive merger agreement under which it will acquire IGate. IGate is a US-listed technology and services company headquartered in New Jersey (US), with revenues over $1.2 billion, double-digit growth, 19% operating margin in 2014 and a global employee talent capital of 33,000. 
 
The transaction is expected to be immediately accretive to Capgemini's operating margin and Earnings Per Share. 
 
"The combined group strengthens Capgemini's position as a leading company in IT services, outsourcing and consulting, with an estimated combined revenue of $ 12.5 billion, combined operating margin above 10% and around 190,000 people serving clients worldwide," the company said in its press release. 
 Capgemini <keyword id="17958" type="POSITION" weightage="80" keywordseo="Chairman-and-CEO">Chairman and CEO</keyword>, <keyword id="270078" type="PERSON" weightage="80" keywordseo="Paul-Hermelin">Paul Hermelin</keyword> said, "I am very pleased to announce a very important transaction in Capgemini's history. IGate is a leading company that perfectly fits our strategic ambition. It will give us a new status on the American market, and take further our industrialization journey to offer ever more competitive services to our clients. This will also give to the Group's Indian operations a new scale, allowing us to compete on par with the best US-based and Indian-based companies." 
 "This important move is fully in line with the <keyword id="522928" type="ORGANIZATION" weightage="80" keywordseo="Capgemini-Group">Capgemini Group</keyword>'s strategy. With IGate, Capgemini would quicken its pace to respond to key, fast growing and innovative markets," Capegemini said. 
 
The new company also stands to offer more platform-based and intellectual property-based solutions to help clients respond to and stay at the forefront of their market.

It's official: Capgemini will acquire IGate for $4.04bn

<img class="gwt-Image" src="/photo/47097312.cms" /> As many as five US-based law firms are investigating charges of whether <keyword id="20356" type="CITY" weightage="80" keywordseo="igate">IGate</keyword> Board of Directors failed to maximise gains of <keyword id="6376563" type="UNKNOWN" weightage="80" keywordseo="Shareholders">shareholders</keyword> before inking the multi-billion dollar deal with French rival <keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword>. 
 
These law firms are reaching out to shareholders and investors of IGATE to join their investigation to ascertain if the company's Board violated their mandate, which if proved could lead to class action law suits against the firm. 
Earlier this week, Capgemini agreed to acquire the New Jersey-based company for USD 4 billion in an all cash deal. 
 
The firms -- WeissLaw, Rosen Law Firm, Ryan &amp; Maniskas, Block &amp; Leviton and Faruqi &amp; Faruqi -- are investigating for "possible breaches of fiduciary duty and other violations of law" as well as the fairness with which IGate Board considered and approved the transaction. 
When contacted, IGate declined to comment on the matter. Fiduciary duty is generally termed as a legal obligation of one party to act in best interests of another. The obligated party is typically a fiduciary, that is, someone entrusted with the care of money or property. 
 
Boston-based law firm Block &amp; Leviton said: "Under the terms of the proposal, Capgemini will acquire each IGate share for $ 48 in cash, a paltry premium of approximately 4.7 per cent. 
"Not surprisingly, because it was able to acquire IGate at such a substantial discount to its true value, shares of Capgemini soared as high as $ 85.77 upon the announcement of the proposed transaction, representing double the premium received by IGate shareholders." 
 
Market reports have stated that Capgemini has already secured voting power of 54 per cent to push the deal through, the firm added. "This support is likely underpinned by the nearly 26 per cent of the company held by <keyword id="1042241" type="UNKNOWN" weightage="80" keywordseo="Ashok-Trivedi">Ashok Trivedi</keyword> and <keyword id="1042242" type="PERSON" weightage="80" keywordseo="Sunil-Wadhwani">Sunil Wadhwani</keyword>, the co-founders and co-chairmen of IGate. 
 
"The two co-founders will collect approximately $ 1 billion of the total $ 4 billion in merger consideration expected to be paid in the proposed deal," it added. 
 The <keyword id="2829483" type="POSITION" weightage="80" keywordseo="high-analyst">high analyst</keyword> price target on the investment websiteYahoo! <keyword id="25455" type="ORGANIZATION" weightage="80" keywordseo="finance">Finance</keyword> was $ 55, about 15 per cent higher than the offer price. 
The value of the company's shares has increased around 35 per cent in just the past four months, it added. 
 <keyword id="2829405" type="UNKNOWN" weightage="80" keywordseo="WeissLaw-LLP">WeissLaw LLP</keyword>, a class action shareholder rights law firm, in a statement said it is investigating "possible breaches of fiduciary duty and other violations of law" by IGATE Board. 
Under the terms of the agreement, IGate shareholders will receive $ 48 in cash for each share they own. 
 
"WeissLaw is investigating whether IGate’s Board acted to maximise shareholder value prior to entering into agreement. Notably, the offer price represents a premium of less 5 per cent over the company stock's April 24, 2015 trading price of $ 45.93.

Did IGate's Board wrong its shareholders? Law firms are examining

<img class="gwt-Image" src="/photo/47079842.cms" /><keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword> announced yesterday that it would acquire <keyword id="20356" type="CITY" weightage="80" keywordseo="igate">IGate</keyword> for a whopping $4.04bn. A lot of you must have been wondering, where and to whom does all this money go to? In fact, some of you must have also wondered how one arrives at this mind boggling amount! Well, the company’s valuation based on its market capex aside, we at Business Insider have put together a list of names who will benefit the most from this deal. 
 
We have created a list of 9 people, entities, who will pocket several millions just by way of shareholding, which will give you a fair idea into how ne arrives at the $4 bn deal figure. 
 
<keyword id="218609" type="COMPANY" weightage="80" keywordseo="Apax-Partners">Apax Partners</keyword>, PE Firm, and largest stakeholder: $1.1 bn from 2,33,84,095 shares 
 
<keyword id="1042242" type="PERSON" weightage="80" keywordseo="Sunil-Wadhwani">Sunil Wadhwani</keyword>, Founder: $504.2mn from 1,05,06,075 shares 
 
<keyword id="1042241" type="UNKNOWN" weightage="80" keywordseo="Ashok-Trivedi">Ashok Trivedi</keyword>, Founder: $497.2mn from 1,03,59,175 shares 
 
<keyword id="376348" type="PERSON" weightage="60" keywordseo="Ashok-Vemuri">Ashok Vemuri</keyword>, CEO: $19.7mn from 4,00,000 shares 
 
Derek Kemp, EVP, Global Head Strategic Deals Team: $7.2mn from 1,50,000 shares 
 
Sanjay Tugnait, Head Americas: $7.2mn from 1,50,000 shares 
 
Sujit Sircar, CFO: $6.9 mn from 1,45,142 shares 
 
Srinivas Kandula, Global Head, HR: $6.9mn from 1,44,573 shares 
 
Satish Joshi, EVP and CTO: $6mn from 1,26,660 shares 
 
The IGate journey IGate was founded by Sunil Wadhwani and Ashok Trivedi in 1996. It went public on NASDAQ the very same year. Post a stellar few years of growth, IGate made a bid for its first major acquisition, acquiring majority stake in <keyword id="46908" type="COMPANY" weightage="80" keywordseo="patni-computers">Patni Computers</keyword> in 2011, delisting the firm a year later. Wadhwani and Trivedi roped in Apax Partners to complete the Patni acquisition, making the private equity firm a key stakeholder in the merged entity with 28.9% stake valued today at close to $1.5 bn. 
 
Given the strong growth momentum, it didn’t take long before IGate breached the $1bn revenue mark in 2012, soon after the Patni acquisition. Around May 2013, the company was riddled by an internal controversy that blew out of proportions and seriously threatened its reputation as a ‘well-governed’ company in the market. It was then that Phaneesh Murthy, its former CEO was fired over failure to disclose his personal relationship with a subordinate in the company. 
 
After several months of scouting, Wadhwani and Trivedi zeroed-in on Ashok Vemuri to takeover as IGate’s new CEO, in September 2013. Vemuri, then Infosys' board member who was also head of Americas besides chief of the manufacturing and engineering vertical, as president and chief executive officer, was known to harbour aspirations of taking over Infosys as its CEO. Once offered, Vemuri didn’t think twice before making the move. 
 
In fact, when Vemuri had quit Infosys, he was already one of the top contenders to become the firm’s first CEO, who wasn’t a co-founding member. Within the IT circuit it is said that Vemuri had had enough with the wait and watch game and decided to take on IGate’s offer almost as soon as it was made to him. 
 
In 2013, IGate also reached the $ 2bn market capex mark and completely reorganised the company in 2014 into vertical-based business units.

9 people who pocketed millions all because of the
Capgemini-IGate deal. Here’s how much each of them made

<ul class="summary-list"><li>My husband has been a teacher for almost 20 years.</li><li>We've learned a lot about how to have a successful back-to-school season.</li></ul>My husband is about to start his 19th year of teaching, our eldest is starting 7th grade, and our youngest is starting 1st grade. In our family's collective decades of experience, the one motto we try to embrace at the <a target="_blank" href="https://www.businessinsider.com/back-to-school-season-tips-teacher-parent-2024-8">beginning of each school year</a> is that everything is variable. Most of our parent friends try to control for all the variables — school, teachers, and sometimes even friends or classmates — and we've learned that it rarely works as intended.We are not completely immune to the urge to control things. We pushed for our youngest to have the <a target="_blank" href="https://www.businessinsider.com/retaining-one-child-not-other-back-to-back-grades-2024-8">same teacher as her big sister</a>, but ultimately, we try to remember that there are plenty of moving pieces, and that trying to control them all will only lead to more stress and disappointment.The so-called "<a target="_blank" href="https://www.businessinsider.com/how-nyc-parents-got-kids-into-top-preschools-2021-2">perfect school</a>" might not be a perfect fit for our child, and the person everyone considers the best teacher might not be the best teacher for our kid. Classrooms change, and with them, classroom dynamics. Everything is variable, and while it is tempting to try to control our situation, we try to be open to the possibilities and help our kids nav<a target="_blank" href="https://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9">https://</a><a target="_blank" href="http://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9igate">www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9igate</a> them.<h2 id="c1116e2e-3ba7-4f06-a318-05f00090d092">Focus on what you can actually control</h2>Parenting seems to be a neverending practice in facing our ultimate lack of control as humans. As the quote from author Elizabeth Stone goes, "Making the decision to have a child — it is momentous. It is to decide forever to have your heart go walking around outside your body." It is daunting to experience this vulnerability firsthand, and with it comes an overwhelming impulse to try and bend the world to our will, at least in terms of protecting our little ones.I try to remember this simple phrase from a friend: "Control the controllables." I can (usually) control whether my clothes are clean, what we pack for lunch, and <a target="_blank" href="https://www.businessinsider.com/prepare-kids-back-to-school-season-tips-2024-8">getting the kids to school</a> on time. I cannot control what happens on the playground, what they actually eat, or the 16-car pileup on the freeway. That is to say, I cannot control life.<h2 id="5e9713ab-4b4f-49d7-8a87-8bebccaaa74d">Just because it seems better on paper, that doesn't always mean it is</h2>Throughout his almost <a target="_blank" href="https://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9">two-decade tenure as a math teacher</a>, my husband has experienced the gamut of classroom situations, from ideal to almost unbearable. For five years, he taught at a new, early college high school. Highly academically achieving students would apply, as it seemed like the better option.However, the increased course load and accelerated schedule did not always work. Even though the school was "better" on paper, it did not mean it was the better academic situation for every student. Previously thriving students would sometimes fail, not because of ineptitude on any one side but simply because the best academic environment is not a monolith.<h2 id="53419bbd-049e-4979-a154-e1e61e0ec77e">What works for one kid might not work for the next</h2>There are things you know, and then there are times when this knowledge is put to the test. My husband and I, who are actively hands-off when requesting teachers, broke our rule regarding our youngest starting pre-K in our <a target="_blank" href="https://www.businessinsider.com/private-kindergarten-costs-84000-were-making-school-district-pay-2023-7">public independent school district</a>. We loved our eldest's teacher, and both requested that her sister have the same one.We got our wish, but everything was different for our second-born. She entered school when the pandemic was still an active factor, with peers equally disoriented from recent isolation. Despite knowing this teacher since birth, she cried every day until April of that school year. Though her teacher was amazing, still, our youngest had a completely different experience and struggled through most of her first year. We learned the hard way that, whether it's because of the teachers themselves or the circumstances, education isn't one-size-fits-all.We sought out an idyllic situation and faced an unsolicited opportunity to guide ourselves and our child through rocky terrain. After all, that is what life is made of, and we want our kids to be able to embrace and enjoy the journey with all its ups and downs.

My husband has been a teacher for 18 years. This is the beginning-of-school motto our family lives by.

<img class="gwt-Image" src="/photo/51700905.cms" style="width: 800px; height: 600px;" /> With 50 per cent of its work force already based in <keyword id="3658" type="COUNTRY" weightage="100" keywordseo="India">India</keyword>, French software major <keyword id="10863" type="COMPANY" weightage="100" keywordseo="CapGemini">Capgemini</keyword> today said it plans to make the country the epicentre of its execution and will focus on building capabilities around innovation, client experience and leadership. 
 
"For me, India is the backbone of our group, it is what holds everything together. We are very close to having 50 per cent headcount from India. We have 90,000 employees here and the group employs 1,80,000. A few more days and then we will have 1,00,000," Capgemini chairman and chief executive Paul Hermelin told reporters here. 
 
He attributed the iGate acquisition as the real reason behind the increased role India plays in the group. 
 
"The iGate acquisition forced us to think of the role of India in the group. The group had 60,000 employees in India then, with iGate it became 85,000 and now we have added 5,000 organically," he said. 
 
At a gross level, the company plans to hire around 35,000 people here this year, while the attrition rate at present is 15 per cent. 
 
Capgemini launched a new campus at Airoli, Navi Mumbai which can seat 30,000. Built at an investment cost of Rs 1,800 crore, the campus is spread across 50 acres with a built-up area of 3 million sqft. 
 
The first phase of the campus with a built-up area of 1 million sqft and a seating capacity of about 13,000 is operational, while the second phase is expected to be completed by early 2018, Hermelin said. 
 
"We will leave Vikhroli campus, and will regroup people here. We will progress rapidly and will have 26,000 people (on the Airoli campus) and we aim to have 30,000 people which will make us the biggest in single location," he said. 
 
He said Capgemini will create an innovation centre at Airoli which will form part of the network of applied innovation and exchange, launched at the end of last year. 
 
The Capgemini group has 40 innovation centres, out of which nine are group innovation centres, and one of such centres will come up in Airoli," the chairman said. 
 
image credit: Indiatimes

Capgemini to make India the epicentre of its operations, says chairman Paul Hermelin

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/553e118169bedd03246223a2-1200-924/helicopter-car-2.jpg" alt="helicopter car" border="0"><a href="http://pictures.reuters.com/Package/2C0BF1OW11KK2?PBC=2C0BF1I3K5MC:2C040822YZJVA:2C0BF1OW11KK2#/SearchResult&amp;ALID=2C0BF1OW11KK2&amp;PBC=2C0BF1I3K5MC:2C040822YZJVA:2C0BF1OW11KK2&amp;VBID=2C0BX47JDUL3&amp;POPUPPN=1&amp;POPUPIID=2C0BF1OM0L51E">Reuters/China Daily China Daily Information Corp - CDIC</a>Yuan Jingying, drives his home-made vehicle in the shape of helicopter along a road in Zhengzhou, Henan province.</img></div></div></div>Here is what you need to know. Legal costs weighed on Deutsche Bank. The bank announced as net profit of 559 million euros. <a href="http://www.businessinsider.com/r-deutsche-bank-first-quarter-profit-falls-by-half-as-legal-charges-bite-2015-4#">Legal expenses amounted to 1.5 billion euros ($2.5 billion)</a>, with Reuters reporting it "raised contingent liabilities - or legal costs that it deems possible but unlikely - by half to 3.2 billion euros."HSBC is considering spinning off its UK retail banking unit. Such a move would make for a $30.37 billion dollar deal. <a href="http://www.businessinsider.com/r-hsbc-considering-spinning-off-british-retail-bank-sunday-times-2015-4">Reuters reports</a>, "A UK law forcing banks to separate their domestic retail operations by 2019 is likely to be a key factor in any decision."Corinthian Colleges is closing all of its schools. The school is <a href="http://www.nbcnews.com/news/education/corinthian-colleges-shuts-down-ending-classes-16-000-overnight-n348741">closing its 28 for-profit schools</a>, meaning approximately 16,000 students will have to finish their degrees elsewhere. According to NBC, the Department of Education will "help the stranded students review their options, including possibly forgiving some of their loans."Cap Gemini will buy IGATE for $4 billion. Cap Gemini will pay $48 per share for IGATE, a 4.7% premium to Friday's closing price. <a href="http://www.reuters.com/article/2015/04/27/us-igate-m-a-cap-gemini-idUSKBN0NI0D720150427">According to Reuters</a>, "The acquisition will strengthen its businesses in application and infrastructure services as well as business process outsourcing and engineering services, also adding new flagship clients such as General Electric and Royal Bank of Canada."The Applied Materials and Tokyo Electron merger has been called off. The $29 billion deal announced in September of 2013 has been scrapped due to <a href="http://www.wsj.com/articles/applied-materials-tokyo-electron-scrap-merger-plan-1430117758">problems with the US Justice Department</a>. "There remains a gap between the view of Tokyo Electron and Applied Materials and the view of the United States Department of Justice, and it has become apparent that such gap will not be able to be bridged," Tokyo Electron said in a statement.Japanese debt was downgraded at Fitch. Japan's credit rating was lowered one-notch to 'A' at Fitch. The agency cited "<a href="http://www.wsj.com/articles/fitch-downgrades-japan-over-fiscal-concerns-1430128871">the high and rising level of government debt</a>" as reason for the downgrade after previously warning on the issue. Japan's yen is down 0.3% at 119.35 per dollar.A computer glitch at Starbucks has been resolved. On Friday, <a href="http://money.cnn.com/2015/04/24/news/companies/starbucks-computers-down/">cash registers were down</a> at locations in the US and Canada. The glitch caused some stores to give away drinks for free. Global stock markets trade mixed. China's Shanghai Composite (+3%) surged to a seven-year high to pace the advance in Asia. Meanwhile, in Europe, France's CAC (-0.9%) leads the decline. S&amp;P futures are higher by 4.50 basis points at 2116.25. Apple reports following today's closing bell. Wall Street is looking for <a href="http://www.businessinsider.com/apple-q2-earnings-preview-2015-4">earnings of $2.14 per share</a> on revenues of $55.96 billion. Expectations call for 58.1 million iPhones to be sold. US economic data is light. Flash Services PMI will cross the wires at 9:45 a.m. ET. The US 10-year yield is up 1 basis point at 1.92%. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-to-burpee-full-body-workout-2015-3">This simple exercise will work out every muscle in your body</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lyeGY3dDqIOrfWUeyzqcSzvAuvKi9t3n" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'lyeGY3dDqIOrfWUeyzqcSzvAuvKi9t3n',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

10 things you need to know before the opening bell

Krishnan <keyword id="6356252" type="PERSON" weightage="20" keywordseo="Ganesh">Ganesh</keyword>, has played a lot of roles in his life; from an engineer, to an entrepreneur, to now a venture builder, and his life has been nothing short of an trial. While his shoes have been too big to fill and as they keep changing, he is currently pioneering a unique model with Growth Story in India, which is probably only made popular by Rocket Internet in the country. GrowthStory is the venture-builder platform that Ganesh and his wife, Meena set up in 2011 which has promoted some of India's most disruptive start-ups including Portea Medical, Big Basket, Fresh Menu, Home Lane, AcadGild, HouseJoy, Social Frontier and many more. 

 

 

 

 

 

 

 

 

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This model is unique due to the fact that while Ganesh and Meena come up with entrepreneurial ideas, they hire executives to pull it off. It is not primarily "investment" only, but where GrowthStory is the "promoter," but where the Partners are often the originators of the idea, work to get a founding team in place, drive fund raising early in the game, work closely with founders to scale the venture, guide strategic direction et al. This ‘express’ entrepreneurship that the power couple pull through is extraordinary and the back- story to it is a roller coaster that, you can’t forget. Early life and career Ganesh’s father died in an accident when he was just nine years old and as the eldest of three siblings, he felt the need to set an example. His mother was a hard-working government servant and bought them up to the best of her capabilities.

 

 

 

 

 

 

 

 

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So Krishnan, became a mechanical engineer passed out from Delhi College of Engineering, and even got a post graduate degree from IIM before realizing that he didn’t want to be an engineer or just an MBA graduate. Ganesh credits his entrepreneurial trials to <keyword id="44903" type="PERSON" weightage="20" keywordseo="Shiv-Nadar">Shiv Nadar</keyword>, under whose guidance he experienced different business function, “I worked for five years in various functions and also as executive assistant to Shiv Nadar. My first venture started in 1990, a company called IT&amp;T where me and my friends pooled in money to get it started,” he told Business Insider. He ran the company till 1998 and remained the largest shareholder and director of the company till 2003 when it was sold to iGate. He went back to the corporate life but after two-years stint went back to entrepreneurship with his second business venture called CustomerAsset with Meena and another partner. It was later acquired by ICICI Bank in 2002 and Ganesh made $ 20 million for his stake in the company.

 

 

 

 

 

 

 

 

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In 2003 he stumbled upon an innovative new company called Marketics which was started by IIT and IIM graduates. Ganesh was approached for investment, mentoring and guidance. This company was also sold off to WNS, for $65 million where only half a million dollars were invested in this business without venture capital funding. Then Ganesh again started his own business with TutorVista in 2006 which was bought out completely by Pearson for Rs. 1000 crore. His multiple hits have led him to be where he is, but that isn’t without the missus by his side. When the the last acquisition happened, Ganesh and Meena decided to take the hard road and continue their entrepreneurship journey albeit this time, differently. "Only 5 per cent of start ups succeed and Ninety-five per cent end up failing. I see still young entrepreneurs after starting a company against all the odds. I'm addicted to fueling that until I can," says Krishnan when asked about why his family still makes risky businesses instead of just ‘settling down’. 

 

 

 

 

 

 

 

 

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The Perfect Pairing When it comes to Meena and Krishnan Ganesh, their complementary skill sets have given fuel to the train that is Growth Story. Professionally, Meena is more lauded as the CEO of <keyword id="6398216" type="COMPANY" weightage="20" keywordseo="Tesco">Tesco</keyword>,No.2 at <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and now CEO at Portea, but Ganesh is the visonary that knows they can achieve so much together. As co-founders and life partners, they know that team work is the key to making a venture start and keep it running.

Exclusive: K. Ganesh Made BigBasket and Portea Medical Blockbusters in India, and This is his Unique Life-story

<img class="gwt-Image" src="/photo/24182470.cms" /> Recently, <keyword id="23555" type="COMPANY" weightage="40" keywordseo="Globallogic">GlobalLogic</keyword>, an IT outsourcing firm that was started by 4 IIT graduates, was acquired by <keyword id="6406022" type="COMPANY" weightage="80" keywordseo="Apax">Apax</keyword> for a sum of $ 420 million. We had an exclusive chat with Tarun Updhyay, Co-Founder of Globallogic about the new deal and what is in store. Here is what he had to say: 
 
Why did you take the decision to go for a buyout deal instead of raising additional funding? 
It has been done from the perspective of long-term shareholder interest. It made more sense to go for a buyout. 
 
Is there any specific reason to bring in Apax as partners? Will GlobalLogic operate as a separate entity post acquisition or will it be a part of iGate? Along with the stellar reputation of Apax, they had two specific things going for them. One, they are not focused on a particular country but are a global fund. Two, they prefer long-term <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> with a growth focus. That made the Apax deal a great win-win for all parties involved. 
 
I expect GlobalLogic will continue to operate as a separate entity for the foreseeable future. 
 
Is it going to be one of the biggest exits for VC investors in <keyword id="3658" type="COUNTRY" weightage="40" keywordseo="India">India</keyword>? What’s you take on this? 
Indian entrepreneurs have finally started to get their share of large, successful exits. This trend is only going to grow. There are many small and large Indian-owned companies that are focused on global markets. So we should see many more large exits from India-based and Indian-owned companies. 
 
Three of GlobalLogic founders including me are now focusing on our new start-up hCentive, which is already valued upwards of $125 million. 
 
Why did you discard the IPO plan in the first place? 
The IPO market has its own complexities, especially for such a diverse and global operation as GlobalLogic. It made more sense to find one buyer at this stage, rather than go for the public markets. 
 
How will the acquisition benefit GlobalLogic? 
GlobalLogic will benefit from the global presence of Apax and their vast portfolio across various industries. We anticipate that the company will continue to grow. 
 
How do you view the global market for software development outsourcing? Does India still hold a key position in this space? 
Software development outsourcing industry in India will continue to grow, although the margins will come under more pressure. 
 
The large pool of trained and globally exposed IT professionals is finally leading to a sea of change in the industry mindset. Many more of the upcoming companies are now building interesting, innovative products that target the worldwide market. That is the real opportunity. 
 
The next worldwide software success may come from India! 
 
We are sure it is a bit early to ask, but has an Indian or global roadmap been decided? Can you shed some light on it? 
It is certainly too early for a new roadmap. It might take some time for things to evolve.

EXCLUSIVE – Tarun Upadhyay, Co-Founder Of GlobalLogic, Talks About Its Acquisition By Apax

<div class="image-container float_right" style="width:400px"><div class="image"><img src="http://static5.businessinsider.com/image/51503aadeab8eae60a000014-402-302/india-tech.jpeg?maxX=400" border="0" alt="india tech" width="400" /></div>Vivek Prakash/Reuters</div>BANGALORE/MUMBAI, March 25 (<keyword id="76338" type="CITY" weightage="60" keywordseo="Reuters">Reuters</keyword>) - <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.
The shift by Infosys Ltd and others is symptomatic of a maturing industry that wants more revenue from its own intellectual property instead of providing only labour-intensive, lower-margin <keyword id="6363148" type="TECHNOLOGY" weightage="60" keywordseo="information-Technology">information technology</keyword> and back-office services.
For young graduates who see the $108 billion IT industry as a sure pathway to modern India's growing middle class, the transformation is unsettling.
Dozens of industry aspirants who were recruited on campus by No. 4 player HCL Technologies recently protested outside its offices in several cities. They were offered jobs in 2011 before graduating last year but have not yet been given joining dates - or paychecks.
"Dear H.R. You were also a fresher... once," read a sign carried by two protesters in a photo in The Hindu newspaper.
HCL's December quarter profits and revenues rose while staff numbers shrank - a rare trick in an industry that has long aspired to break the linear relationship between headcount and revenue growth.
Just 20 percent of the 5,000-6,000 campus recruits offered HCL jobs in 2011 have been taken on board since graduation last summer, and HCL said it made no offers in 2012 to students who would graduate in June 2013.
Slower growth, fewer people leaving, greater demand by customers for experienced staff, and increased productivity through automation and software have put pressure on all recruits, according to HCL, which said it expects to accelerate bringing entry-level staff on board from August.
"It's not that the demand doesn't exist. It exists for different skills," said Ajay Davessar, HCL's head of external communications.
"Typical roles which a student thinks, 'I'll just go there and start coding, and have a good life,' are being tested to reality... Any applicant, be it fresher or senior, will have to have flexibility in applying the skills elsewhere."
FEWER 'CODING COOLIES'
<keyword id="6358815" type="COMPANY" weightage="60" keywordseo="tech">Tech</keyword> Mahindra Ltd, the No.5 player, is naming 100 of what it calls mini-CEOs who will be given broad latitude to run their parts of the business.
"We're moving towards a situation like the developed economies, where we're asking the people to be more deep," said Sujitha Karnad, who heads human resources at Tech Mahindra.
"We want more solution architects to be here. We don't want the coding coolies anymore, that's clear," Karnad said, employing a term commonly used in India in association with menial labourers.
While plenty of Indian back office work such as technical support, processing insurance claims or staffing call centres will remain labour-intensive, software services firms are looking to move up the value chain, which means relying less on the time and toil of staff.
Growth in revenue per employee across the industry could expand to 5 percent a year in the next two years from about 3 percent over the past five, said Forrester Research principal analyst Frederic Giron. The growth rate is likely to accelerate from around 2015 as intellectual property-based work accounts for a growing share of the total, he said.
India's IT services industry grew in large part because of the availability of cheap skilled labour, an advantage that is eroding as wages and other costs in India rise.
In years past, it was cost-effective for IT companies to hire new graduates by the thousands and keep a portion on the "bench" awaiting deployment on a client project.
But budget-constrained clients now demand shorter lead times. IT vendors that might have hired people six months in advance of an expected contract are now working with a one- or two-month window, said Surabhi Mathur Gandhi, senior vice president at TeamLease, a staffing consultancy.
Traditionally, about 30 percent of Indian IT services industry staff are on the bench at any given time, often in training, as they await deployment to client work.
In the December quarter, about 70 percent of Infosys staff and less than 65 percent at No. 3 provider Wipro were deployed on billable projects. At Tata Consultancy Services , the largest Indian IT services company, the figure was 72 percent, within what Ajoyendra Mukherjee, its human resources head, calls the comfort range of 70 to 74 percent utilisation.
"I think we can push it up to 75, 76," he said.
Another IT services company, iGate Corp, envisions a future where just 10 percent of staff sit on the bench, said Srinivas Kandula, its human resources head, who predicts that the size of its bench will shrink by 2 or 3 percentage points a year over the next five years.
BACK-UP PLAN
Shorter benches mean a smaller share of hiring is direct from campuses, as seasoned professionals moving from a competitor would be less willing to wait to be deployed and firms are reluctant to pay them to do so.
Companies are also binding hires, especially experienced ones, with three-month notice periods and no-buy-out clauses, compared with one-month notice periods previously.
Among top-tier companies that are most actively trying to push non-linear growth where revenues are not constrained by the size of the work force, about 70 percent of employees are experienced staff, up from 60 percent in 2008, said Rajiv Srinivas, an associate director at Tech Mahindra, who expects that to rise to about 90 percent in the next two or three years.
At Infosys, while the net quarterly addition of employees fell from 4,906 people in the March quarter last year to 977 in the December quarter (excluding an acquisition), lateral recruitment held steady at an average of about 4,300 staff per quarter through December, meaning the percentage of campus hires was much lower.
"Earlier, the focus was more on career ... You get into a job, you start learning, and slowly acquire knowledge over a period of time," said Sunil Gupta, who joined Infosys as vice president of quality about six months ago from the Indian unit of CGI Group's Logica Plc.
"Today the value of a professional is judged by how quickly you're learning, how quickly you're adapting yourself and changing along with the environment," he said.
For young Indians who saw IT as a ticket into the middle class, the change means that career path is becoming less clear. Those who do break in and build valuable skills will remain in demand, but the days of young IT staffers brandishing five or more competing offers are over.
Yet that hasn't necessarily translated into slower wage growth. Mercer LLC expects industry salaries to grow 12 percent this year, the same as in 2012. As India's economy diversifies, graduates have more attractive career options, including at multinationals with a growing India presence, such as Google Inc , which means IT vendors must fight to stay attractive.
"We see IT companies as a back-up," said S. S. Jayaram, a final-year engineering student in Bangalore who says he chose a job in India with Mu Sigma Inc, a fast-growing U.S.-based data analytics company, over offers from IBM and TCS. (Editing by Emily Kaiser)
<div class="nc_footer">
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You Searched For "igate" and got 16 results

Capgemini-IGate: Has Capgemini over paid for IGate?

BI India Bureau

Capgemini eyeing Igate?

BI India Bureau

iGate CEO Ashok Vemuri quits

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Strife At The Top: These 11 C-Suite Execs From India Were ‘Let Go’ In 2013

Sanghamitra Mandal

Guess who’s racing to claim their stakes in IGate?

BI India Bureau

IGATE sells domestic IMS for $5 million to MindSquare Technologies

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iGate CEO Ashok Vemuri now in Capgemini’s management board

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It's official: Capgemini will acquire IGate for $4.04bn

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Did IGate's Board wrong its shareholders? Law firms are examining

BI India Bureau

9 people who pocketed millions all because of the Capgemini-IGate deal. Here’s how much each of them made

Debdatta Das

My husband has been a teacher for 18 years. This is the beginning-of-school motto our family lives by.

Saba Khonsari

Capgemini to make India the epicentre of its operations, says chairman Paul Hermelin

BI India Bureau

10 things you need to know before the opening bell

Jonathan Garber

Exclusive: K. Ganesh Made BigBasket and Portea Medical Blockbusters in India, and This is his Unique Life-story

Tanya Dubey

EXCLUSIVE – Tarun Upadhyay, Co-Founder Of GlobalLogic, Talks About Its Acquisition By Apax

Sulabh Puri

The $109 Billion Indian IT Industry Is Going Through A Massive Shift

Reuters