IT
AI, transformation-led deals likely to fuel IT M&As: Experts
Since the beginning of 2024, Infosys—India’s second largest IT major— has made four acquisitions in engineering R&D and semiconductor design services space, including two announced in April in cybersecurity and energy consulting areas. Its smaller rivals HCLTech and Wipro acquired two firms each while LTIMindtree purchased Voicing.AI in December. These came after a lull of almost no acquisitions in 2023.
Infosys paid CEO Salil Parekh Rs 80.62 crore as salary in FY25, up 22%
This comprised of Rs 7.45 crore as base salary, Rs 49 lakh as retiral benefits and a variable pay component of Rs 23.18 crore. Parekh earned Rs 49.5 crore by exercising his stock options.
Builder.ai faked business with Indian firm VerSe to inflate sales: Sources
Builder.ai, facing bankruptcy, allegedly inflated sales figures by engaging in "round-tripping" with VerSe Innovation, billing each other for similar amounts without actual services rendered. Documents suggest this practice occurred between 2021 and 2024 to deceive investors. VerSe co-founder Umang Bedi denies these allegations, while Builder.ai has declined to comment on the matter.
LTIMindtree CEO Debashis Chatterjee retires early; Venugopal Lambu takes charge amid leadership confusion
Chatterjee opted to retire due to personal reasons, effective May 30, six months before his term ends on November 13. LTIMindtree has seen over 10 senior executive exits in the past two years. Lambu’s comeback is seen as a strategy to stabilise the ship at LTIMindtree, which has seen a series of over 10 senior executive exits over the past two years
Transforming India
Quantum computing may soon become a scaled solution: Wipro
Wipro’s CTO Sandhya Arun expects quantum computing to scale by year-end. Agentic AI currently saves 20-35% of manual effort. Wipro’s new innovation lab focuses on quantum, AI, blockchain, and robotics, aiming to accelerate technology adoption and business impact globally.
Hinduja Global Solutions elevates Venkatesh Korla to new Global CEO
Venkatesh Korla, president and chief executive officer of HGS Americas, is the new global chief executive of Hinduja Global Solutions. His appointment comes in the backdrop of impending retirement of group CEO Partha DeSarkar. The company has also appointed deputy chief financial officer Mahesh Kumar Nutalapati as the new global CFO.
TCS paid CEO K Krithivasan Rs 26.5 crore in FY25
TCS CEO K Krithivasan’s pay rose 4.6% to Rs 26.52 crore in FY25, with average employee hikes between 4.5-7%. Despite a net headcount increase to 607,979, hiring remained slow. Infosys saw a 11.7% profit decline and lower employee bonuses, projecting modest revenue growth for FY26.
TCS to add AI agents alongside human workforce: N Chandrasekaran
Looking ahead, TCS plans four progressions - establish a large pool of AI agents working alongside our human workforce, deliver solutions through a human+AI model, invest in AI data centers and cloud infrastructure, as well as forge partnerships, Chandrasekaran said.
US court asks Infosys, Cognizant to resolve case via informal deal
A US court has directed Infosys and Cognizant to resolve their nine-month-long legal dispute informally, specifically regarding pretrial discovery matters related to Cognizant's TriZetto Software Group. The court encourages both IT giants to engage in meaningful discussions and seek resolution through oral agreements or informal telephone conferences with the court to efficiently address disagreements.
TCS splits AI business unit, hires specialist AI talent to drive growth
TCS has split its AI.Cloud business into separate AI and Cloud units to tap growing market potential. The AI unit, now led by Siva Ganesan, combines AI and data services, while Krishna Mohan heads Cloud. The move reflects TCS’s aim for rapid growth by focusing on specialised AI and Cloud expertise.
