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BENGALURU: Indian IT corporations are stated to have round $600 million in contracts with Credit Suisse, and the latter’s acquisition by UBS is more likely to result in some consolidation in these IT offers.
Sources instructed TOI that Cognizant, TCS and Wipro have offers with Credit Suisse amounting collectively to as a lot as a lot $350-400 million yearly. The remaining slice of the outsourcing pie is shared between Infosys, Tech Mahindra and HCL Tech.
Phil Fersht, CEO of US-primarily based IT consultancy HfS Research, stated it is too early to see how a lot Indian IT will get hit. “The outcome could well be good news for the main two incumbents, Cognizant and TCS,” he stated. Pranati Dave and Kriti Gupta, follow administrators in outsourcing analysis agency Everest Group, blogged that IT consolidation is on the playing cards.
Credit Suisse declined to remark. Cognizant stated service relationships with its purchasers represent confidential data and the corporate doesn’t disclose particulars. Wipro did not touch upon the TOI question.
Sources instructed TOI that Cognizant, TCS and Wipro have offers with Credit Suisse amounting collectively to as a lot as a lot $350-400 million yearly. The remaining slice of the outsourcing pie is shared between Infosys, Tech Mahindra and HCL Tech.
Phil Fersht, CEO of US-primarily based IT consultancy HfS Research, stated it is too early to see how a lot Indian IT will get hit. “The outcome could well be good news for the main two incumbents, Cognizant and TCS,” he stated. Pranati Dave and Kriti Gupta, follow administrators in outsourcing analysis agency Everest Group, blogged that IT consolidation is on the playing cards.
Credit Suisse declined to remark. Cognizant stated service relationships with its purchasers represent confidential data and the corporate doesn’t disclose particulars. Wipro did not touch upon the TOI question.
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