Latest news with #ITservices
Reuters
3 days ago
- Business
- Reuters
Infosys CEO among highest paid in Indian IT as compensation rose 22% to $9.4 mln last fiscal
BENGALURU, June 2 (Reuters) - Infosys ( opens new tab CEO Salil Parekh's compensation rose 21.7% to 806.2 million rupees ($9.44 million), the company said in its annual report on Monday, making him one of the highest-paid Indian IT chiefs currently in office. Parekh, the longest-serving non-founder CEO at the IT company, earned a fixed salary of 79.4 million rupees and bonuses of 231.8 million rupees. The largest portion, 495 million rupees, resulted from the chief executive of India's No. 2 IT services firm exercising his stock options. In comparison, Parekh earned $7.9 million in 2024 and $6.76 million in 2023, with the rise in pay, mainly due to a greater number of stock options exercised during the year. For the financial year 2025, Infosys reported a revenue growth of 4.2% in constant currency terms, falling short of its forecast of 4.5%-5%. For the current fiscal year, it forecast a flat to 3% growth in revenue, signalling a weaker business environment. India's $283-billion IT sector is facing another year of slowing growth, partly due to the U.S. tariff policies, which complicate forecasting market conditions in key markets and client segments. "Majority of Infosys revenue is from the U.S. and other global markets. The compensation is in line and consistent with what companies of this scale and size pay globally. Boards of Indian tech companies are indeed aware and need their leaders to be retained and paid appropriately in this challenging environment," said K Sudarshan, managing director at executive search firm EMA Partners. K Krithivasan, CEO of Infosys' larger rival Tata Consultancy Services ( opens new tab earned $3.11 million, and smaller rival Wipro's ( opens new tab CEO Srinivas Pallia earned $6.28 million, according to their latest annual report. Infosys is one of the two among India's top five IT companies that have retained their CEO at the helm over the last 18–24 months, with HCLTech being the other. ($1 = 85.3600 Indian rupees)
Arab News
6 days ago
- Business
- Arab News
Aramco Digital, LTIMindtree launch NextEra — a next-generation IT services company in KSA
Aramco Digital, the digital and technology subsidiary of Aramco, and LTIMindtree, a global technology consulting and digital solutions company, have launched NextEra, a next-generation IT services company headquartered in Saudi Arabia. A strategic joint venture between LTIMindtree and Aramco Digital, LTIM Aramco Digital Solutions for Information Technology Company-NextEra is designed to accelerate Saudi Arabia's digital transformation in alignment with the Kingdom's ambitious Vision 2030. The initiative reflects a shared commitment to building a robust, homegrown digital ecosystem that fuels innovation, economic diversification, and sustainable growth. Powered by advanced and emerging technologies, NextEra aims to offer organizations future-ready solutions that enhance operational efficiency, enable intelligent decision-making, and deliver seamless customer experiences. NextEra's foundation is built upon six core pillars — emerging technologies and automation, scalable cloud services, deep industry expertise, digital engineering, sustainability, and customer centricity. Nabil Al-Nuaim, chairman of NextEra and CEO of Aramco Digital, said: 'The launch of NextEra marks a pivotal milestone in our efforts to localize IT services and contribute to advancing the Kingdom's digital landscape. 'We are glad to partner with LTIMindtree in establishing this joint venture, which brings together world-class technology expertise and deep local insight. 'Through NextEra, we aim to build a future-ready digital ecosystem that drives innovation, enhances national competitiveness, and contributes to the Kingdom's digital transformation journey under Vision 2030. 'This collaboration also reinforces Aramco Digital's commitment to accelerating digital progress across industrial and other strategic sectors, delivering sustainable impact, long-term value, and alignment with national priorities. "Partnering with Aramco Digital to establish NextEra is a significant milestone in LTIMindtree's global expansion strategy. We are excited to bring our deep technical capabilities and cross-industry experience to support Saudi businesses in their digital journeys,' said Venu Lambu, vice chairman, NextEra; chief executive officer (designate) and whole-time director, LTIMindtree. 'This joint venture is a key step toward Saudi Arabia's Vision 2030, as we build a national platform for innovation and sustainable digital growth,' said Dina Aboonoq, CEO and board member, NextEra; executive VP, LTIMindtree. 'Through advanced delivery centers and partnerships with local universities, we're accelerating digital transformation, empowering local talent, and supporting SMEs and major industries with tailored managed services that ensure excellence and compliance.' NextEra is uniquely positioned to blend local insight with global expertise, delivering tailored solutions that cater to the dynamic needs of regional and international markets. From optimizing operations to fostering innovation across critical sectors, the company aims to be a cornerstone of Saudi Arabia's digitally driven future. Aramco Digital is the digital and technology subsidiary of Aramco, established to contribute to the Kingdom's digital transformation under Vision 2030. It aims to advance industrial digital solutions in partnership with local and global partners, enabling sustainable growth across industrial and other strategic sectors. LTIMindtree is a global technology consulting and digital solutions company that helps enterprises reimagine business models and accelerate innovation. With a client base of over 700 companies and a team of 84,000+ professionals across 30+ countries, LTIMindtree delivers transformative outcomes across industries. A part of the Larsen & Toubro Group, LTIMindtree is at the forefront of delivering large-scale digital transformation programs worldwide.
Entrepreneur
7 days ago
- Automotive
- Entrepreneur
IT Services Companies Set up Dedicated Tech Hubs for Clients
Analysts are of the view that top IT services companies are establishing these tech centres in a bid to compete with the GCCs that are being set up by MNCs You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Indian IT services companies are increasingly setting up dedicated technology hubs for their clients, in a bid to fend off competition from MNCs establishing global capability centers (GCCs) instead of outsourcing. Recently, Infosys said it will establish a global technology hub for Swedish electric performance car brand Polestar at its development center in Bengaluru. This hub aims to deliver electric vehicle (EV) software development and validation across many domains including infotainment, Advanced Driver Assistance Systems (ADAS), and telematics. It also supports Polestar's product management, customer engagement, corporate solutions, and accelerates direct-to-consumer digital services through cloud-native development, testing, and data engineering. Polestar will benefit from leveraging Infosys' strategic assets like engineering labs, design studio, and Infosys Living Labs to enhance innovation. "We believe that this collaboration will enhance Polestar's digital roadmap by leveraging India's well-regarded software and automotive engineering talent pool. Building on Infosys' extensive experience in automotive engineering, digital transformation, and global delivery leadership, we aim to bring the infrastructure and innovation to co-create next generation EV capabilities. We will work closely with Polestar's global design and development hubs to set new standards in next-gen mobility," said Jasmeet Singh, Executive Vice President and Global Head of Manufacturing, Infosys. Earlier this year, Greece-based banking group Eurobank signed a multi-year agreement with LTIMindtree to establish a dedicated global delivery center in India aimed at enhancing customer experience by improving banking operations and building innovative IT services for Eurobank and its subsidiaries. Alongside the recently-established LTIMindtree Greece office, this center will drive technology modernisation, digital innovation as well as enhance and maintain critical banking applications. This initiative will empower Eurobank Group to effectively meet growing customers' demands as it expands its services. In February this year, Infosys signed a strategic, long-term collaboration with Lufthansa Group (LHG), a global aviation group, and Lufthansa Systems GmbH (LSY), leading airline IT provider, to accelerate digital transformation and drive innovation in the aviation industry. As part of the engagement, LSY and Infosys will establish a dedicated GCC in Bengaluru aimed at enhancing Lufthansa Group's software and product development as well as increase support for LSY's products for the external airline market customers. The center will develop future-ready and sustainable aviation IT products and data-driven solutions leveraging the capabilities of Infosys Topaz, an AI-first offering using generative AI technologies. "The GCC will accelerate Lufthansa Group's digital transformation by adopting modern technologies and AI. Working closely with LSY, the GCC will enhance existing solutions across critical functions including finance, flight navigation, network & schedule design, and aircraft & crew operations," Infosys said in a statement. Thomas Wittmann – CEO, Lufthansa Systems, said, "At Lufthansa Systems, we champion a modular approach to solutions and collaborations, ensuring adaptability and tailoring to the unique needs of each airline. This principle extends perfectly to our collaboration with Infosys. By combining our deep aviation expertise with Infosys's global technology prowess and establishing a dedicated Global Capability Center (GCC), we are not only enhancing our one-stop-shop offerings but also accelerating the pace of digital innovation across the aviation industry. This collaboration empowers us to deliver cutting-edge solutions with greater agility and scale, ultimately benefiting our airline customers with more efficient, innovative, and cost-effective technologies." Analysts are of the view that top IT services companies are establishing these tech centres in a bid to compete with the GCCs that are being set up by MNCs. "GCCs are taking away a portion of the business from traditional IT services, so building such centers for their clients gives an edge to IT services players. Some of these could be in a BOT or Build Operate Transfer Model," a Bengaluru-based IT analyst said.
Associated Press
28-05-2025
- Business
- Associated Press
CBTS Ranks in Top 50 on CRN's Solution Provider 500 List for 2025
Cincinnati, Ohio--(Newsfile Corp. - May 28, 2025) - CBTS is proud to announce that CRN®, a brand of The Channel Company, has anchored CBTS in the top 50 on its exclusive Solution Provider 500 list. CRN's annual Solution Provider 500 list recognizes North America's largest solution providers by revenue and serves as a prominent benchmark of leading IT services companies. With a combined revenue of $548.9 billion, the companies on the list are key influencers propelling growth in the IT industry and the global technology channel. This year, CBTS ranked #44 on the CRN Solution Provider 500 list for its performance in IT services and innovations in cloud, analytics, AI, and cybersecurity. This follows recognition by CRN for the Women of the Channel Awards and the MSP 500 Elite 150. The company's ability to drive transformation, solving complex IT challenges, has distinguished it among its peers. CBTS' dedication to business agility and sustained growth—even amid rapidly changing industry needs and technological advancements, including the evolution of AI—has demonstrated its strong leadership and focus on driving measurable outcomes and value for its clients. As a key influencer in propelling growth in the IT industry, CBTS continues to shape the global technology channel with its pioneering solutions. 'We are so proud to once again be included on the CRN Solution Provider 500 list for 2025. This prestigious recognition is a reflection of our commitment to delivering exceptional results by listening to our clients' unique needs and helping them attain their strategic business objectives,' said Kristin Russell, Chief Executive Officer, CBTS. 'This recognition is a testament to how our team embodies our company's core values of relentless excellence and innovation and always putting our customers first. We are honored to be recognized among North America's largest and most successful IT services companies.' 'The Solution Provider 500 list spotlights the technology integrators, managed service providers, value-added resellers, and IT consulting firms who bring in the most revenue by leading the way in business and service innovation,' said Jennifer Follett, VP, U.S. Content, and Executive Editor, CRN, The Channel Company. 'Recognition is reserved for companies demonstrating an unwavering commitment to business agility and sustained growth through rapidly changing industry needs and technology advancements. Congratulations go to each company for earning a well-deserved spot on the Solution Provider 500.' The full Solution Provider 500 list is available online at with a sampling of the list featured in the June issue of CRN Magazine. About CBTS CBTS (#44 CRN Solution Provider 500) serves enterprise and midmarket clients in all industries across the United States and Canada. CBTS combines deep technical expertise with a full suite of flexible technology solutions—including Generative AI, Application Modernization, Managed Hybrid Cloud, Cybersecurity, Digital Workplace, and Infrastructure solutions. From developing and deploying modern applications and the secure, scalable platforms on which they run, to managing, monitoring, and optimizing their operations, CBTS delivers comprehensive technology solutions for its clients' transformative business initiatives. For more information, please visit Media Contact Roger Hamshaw Director, Marketing 416.312.6244 [email protected] About The Channel Company: The Channel Company (TCC) is the global leader in channel growth for the world's top technology brands. We accelerate success across strategic channels for tech vendors, solution providers, and end users with premier media brands, integrated marketing and event services, strategic consulting, and exclusive market and audience insights. TCC is a portfolio company of investment funds managed by EagleTree Capital, a New York City-based private equity firm. For more information, visit Follow The Channel Company: X and LinkedIn © 2025. CRN is a registered trademark of The Channel Company, Inc. All rights reserved. The Channel Company Contact: Kristin DaSilva The Channel Company [email protected] To view the source version of this press release, please visit
Yahoo
26-05-2025
- Business
- Yahoo
Vibracoustic Selects DXC to Lead Global Business Transformation with SAP
ASHBURN, Va., May 26, 2025 /CNW/ - DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, today announced a multi-year IT services agreement with Vibracoustic, a leading expert in automotive Noise, Vibration, and Harshness (NVH) solutions to transform its SAP environment and modernize global IT operations. Under the five-year agreement, DXC will become Vibracoustic's strategic partner for SAP services, taking responsibility for the company's global SAP Application Development and Management Services (ADMS) across 17 countries and over 30 manufacturing facilities. The transformation will streamline operations, standardize processes, and improve service delivery for more than 5,000 users. "DXC's unparalleled expertise in SAP solutions, its ability to manage complex global IT systems, and client-centric approach make it the ideal partner," said Nico Klohr, Commodity IT Manager at Vibracoustic. "With DXC's support, we are confident in achieving a unified and efficient SAP service landscape that will further enhance productivity and drive growth." By consolidating multiple existing vendors into a single, integrated global service led by DXC, Vibracoustic aims to reduce complexity, enhance consistency, and accelerate innovation. "With over 15,000 SAP professionals worldwide and over 5 million SAP users supported globally, DXC is a leading provider of SAP solutions, helping businesses to quickly respond to market dynamics, simplify operations, and minimize the disruption, risks and costs of enterprise transformation," said Juan Parra, President, DXC Europe. "As Vibracoustic's global strategic supplier, we will manage its mission-critical SAP systems and help to drive greater efficiency across the organization." This agreement underscores DXC's position as a leader in major IT transformations, reaffirmed by its recent recognition in PAC's SAP Services Europe report as well as Whitelane Research's 2024/2025 European IT Sourcing Study. DXC has over 35 years of experience delivering SAP solutions, with a global team of 15,000+ SAP professionals and 2,500+ SAP certifications. DXC supports nearly 850 SAP customers across 60 countries, helping customers simplify operations, scale efficiently, and drive innovation through end-to-end SAP transformation strategies. To learn more, visit About DXC Technology DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at About Vibracoustic Vibracoustic is a leading global automotive NVH expert, providing customized solutions adding comfort and supporting efficiency, safety and durability. Its expertise along the entire product life cycle and all vehicle systems as well as its broad product range enable Vibracoustic to solve current and future NVH challenges across all automotive segments. With approximately 12,000 employees at around 40 production and engineering locations across 17 countries, Vibracoustic serves all major automotive manufacturers. In 2024 Vibracoustic recorded total sales of 2.6 billion €. For more information, see Forward Looking Statements All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." These statements represent current expectations and beliefs, and no assurance can be given that any result, goal or plan set forth in any forward-looking statement can or will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. For a written description of these factors, see the section titled "Risk Factors" in DXC's Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and any updating information in subsequent SEC filings. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except as required by law. View original content to download multimedia: SOURCE DXC Technology Company View original content to download multimedia: Sign in to access your portfolio
