IT consulting major Capgemini has snapped up domestic IT services firm Thesys Technologies for an undisclosed amount, an acquisition that will boost the French entity's global delivery capabilities.
Capgemini, which has a good presence in India, is a provider of consulting, technology and outsourcing services.
"The acquisition of Thesys expands Capgemini's global delivery capabilities for Temenos-enabled core banking front- to back-office solutions and product offerings...," Capgemini said in a statement.
Temenos is a widely-used banking software system developed by Geneva-based Temenos Group AG.
Without disclosing the financial details of the acquisition, Capgemini said the buyout would boost its position in the packaged core banking platform market.
Thesys Technologies offers banking implementation solutions to the global financial services industry.
According to the statement, Thesys' highly specialised service delivery infrastructure will expand the scope of Capgemini's offerings in the Middle East, Asia-Pacific and Latin America.
"Capgemini's global delivery from India is strengthened with the acquisition of Thesys, as it enables us to create value for more than 700 existing Temenos clients, as well as a large prospective client base," Capgemini India executive chairman Salil Parekh said.
State-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL) recorded its first loss since inception, totalling over Rs1,800 crore in 2009-10. It garnered Rs18,427.18 crore in revenue during the financial year from landline and mobile services.
BSNL received Rs8,885.67 crore in revenue during 2009-10, while it garnered Rs9,541.51 crore from mobile services.
BSNL had earned profits since its inception in October 2000 (2000-01) up to the financial year 2008-09. However, it has incurred a loss of Rs1,822.65 crore for the first time in its history in financial year 2009-10.
Further, the number of Internet connections provided by BSNL and MTNL (another state-run telecom firm) was 14.35 million as on September 2010. Of these, BSNL had 11.96 million Internet subscribers, while MTNL had 2.39 million subscribers in Delhi and Mumbai circles, where it operates.
Wind turbine maker Suzlon Energy Ltd said its subsidiary REpower Systems AG has signed a contract with Belgium's C-Power for delivery of 48 wind energy turbines.
The contract with the Belgian offshore project company is for a total rated power of about 295 megawatts, REpower said in a statement.
On Friday, Suzlon declined 4.16% to Rs44.90 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.94% down at 19,136. 61 points.