Technology Newsletter - Avendus

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Amit Singh [email protected] Shobhit Jain [email protected] Darshak Savla [email protected]

Technology Newsletter

Feb ’17

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Table of Contents DEAL SUMMARY ............................................................................................................................. 3 

ACCENTURE ANNOUNCES INTENT TO ACQUIRE DIGITAL AGENCY SINNERSCHRADER AG TO DRIVE EXPANSION OF ACCENTURE INTERACTIVE IN GERMANY ....................................................................... 3 

ATOS ACQUIRES ZDATA, A PREMIER CONSULTING FIRM WITH UNPARALLELED EXPERTISE IN BIG DATA SOLUTIONS ..................................................................................................................................... 4 

CAPGEMINI ACQUIRES TCUBE SOLUTIONS IN THE US TO ADVANCE ITS PORTFOLIO OF MANAGED SERVICES FOR THE INSURANCE INDUSTRY ......................................................................................... 4 

CAPGEMINI STRENGTHENS ITS DIGITAL LEADERSHIP WITH THE ACQUISITION OF DIGITAL STRATEGY AND DESIGN CONSULTANCY IDEAN ........................................................................................................... 5 

SAPIENS TO ACQUIRE U.S.-BASED STONERIVER, INC. FOR APPROXIMATELY $102 MILLION ..................... 6 

ACCENTURE TO ACQUIRE IDEFENSE SECURITY INTELLIGENCE SERVICES, A CYBER THREAT INTELLIGENCE BUSINESS ....................................................................................................................................... 7 

GENPACT TO ACQUIRE THE ITEM PROCESSING ASSETS OF FISERV AUSTRALIA ....................................... 8  CONTRACT TRACKER ...................................................................................................................... 9 

NTT DATA AWARDED CONTRACT FOR DEPARTMENT OF HOMELAND SECURITY, OFFICE OF BIOMETRIC IDENTITY MANAGEMENT ................................................................................................................... 9 

DEFENSE LOGISTICS AGENCY AWARDS LEIDOS J6 ENTERPRISE TECHNOLOGY SERVICES PRIME CONTRACT ...................................................................................................................................... 9  MOVERS AND SHAKERS ............................................................................................................... 10 

V RAMAKRISHNAN APPOINTED CFO OF TCS ....................................................................................... 10 

HEXAWARE STRENGTHENS ITS LEADERSHIP TEAM ............................................................................. 10  EXPANSION ................................................................................................................................. 11 

COGNIZANT EXPANDS OPERATIONS IN HONG KONG .......................................................................... 11  TRENDS AND VIEWPOINTS .......................................................................................................... 12 

WORLDWIDE SPENDING ON DIGITAL TRANSFORMATION TECHNOLOGIES TO REACH $1.2 TRILLION IN 2017 ............................................................................................................................................. 12 

WORLDWIDE BUSINESS INTELLIGENCE AND ANALYTICS MARKET TO REACH $18.3 BILLION IN 2017 ...... 12  NASDAQ-100 TECHNOLOGY SECTOR INDEX AND BSE-INFOTECH INDEX ..................................... 14  ABOUT AVENDUS CAPITAL PVT. LTD. (“AVENDUS CAPITAL”) WWW.AVENDUS.COM ................... 15 

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DEAL SUMMARY

ACCENTURE ANNOUNCES INTENT TO ACQUIRE

DIGITAL AGENCY SINNERSCHRADER AG TO

DRIVE EXPANSION OF ACCENTURE INTERACTIVE

IN GERMANY

ACCENTURE PRESS RELEASE [20 FEBRUARY

2017]

Accenture has announced its intent to acquire

SinnerSchrader AG, one of the leading digital agencies

in Germany. The acquisition will strengthen and expand

the capabilities of Accenture’s digital agency, Accenture

Interactive, to provide customer experience services to

clients in Germany. The two companies welcome the

planned acquisition as a great opportunity for their

clients and employees.

Accenture has agreed to purchase a 62% majority of

SinnerSchrader shares from co-founder and CEO

Matthias Schrader, CFO Thomas Dyckhoff, and other

shareholders at EUR 9.00 per share. Accenture also

announced its intention to launch a public tender offer

to all remaining shareholders at the same price. This

represents an attractive premium of 58% over the 12-

month volume-weighted average share price and 31%

over the 3-month volume-weighted average share price

before announcement.

Additionally, Accenture and SinnerSchrader have

signed an agreement outlining the relationship between

SinnerSchrader and Accenture Interactive that aims to

jointly develop digital transformation solutions through

the combination of consulting, design and technology.

Under the terms of the agreement, Matthias Schrader

will retain his role as CEO of the company and, after a

transition period, lead the joint digital agency business

of Accenture Interactive in Germany, Austria and

Switzerland. The SinnerSchrader leadership team is

expected to expand the existing Accenture Interactive

leadership team with additional expertise. The

supervisory board of SinnerSchrader has approved this

agreement.

SinnerSchrader is a full-service digital agency that

specializes in developing and implementing digital

products, services, and marketing solutions. It has

approximately 500 employees in studios in Hamburg,

Berlin, Frankfurt, Munich, Prague and Hanover. Its

clients include Allianz, Audi, BMW, comdirect bank,

ERGO, Telefonica, TUI, Unitymedia and VW.

With this acquisition, Accenture will take another major

step in expanding its digital agency, Accenture

Interactive, in Germany. The acquisition will strengthen

Accenture Interactive’s capabilities in customer

experience design as well as development of digital

strategies and mobile offerings, and deepen its

eCommerce and content marketing offerings.

Accenture Interactive is the world’s biggest and fastest-

growing digital agency, according to the latest agency

ranking by Advertising Age. It offers digital customer

experience services ranging from creative to

technology, spanning experience design, marketing,

content and commerce.

SinnerSchrader will be Accenture Interactive’s tenth

acquisition globally since 2013. Most recently,

Accenture bought London-based creative agency

Karmarama. Other acquisitions include global design

and innovation consultancy Fjord which also has

studios in Berlin and Zurich.

“With SinnerSchrader, we continue to build out

Accenture Interactive’s position as a leading digital

customer experience agency”, said Brian Whipple,

head of Accenture Interactive. “We combine design,

innovation and the culture of an agency with the

integration, scale, and technology of Accenture – and a

laser-focus on helping clients create great customer

experiences.”

“The planned acquisition will benefit our clients and

employees as well as our shareholders,” said Matthias

Schrader, co-founder and CEO of SinnerSchrader.

“Linking our interdisciplinary culture spanning

consulting, design and technology with the global

organization, technology skills, and industry expertise of

Accenture and Accenture Interactive will enable us to

service our clients more broadly and on a global scale.

Our talents will have access to new and exciting

projects and career opportunities.”

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“Technology and consumer expectations are changing

fast, challenging companies every day to create

meaningful experiences for their customers”, said

Rainer Balensiefer, head of Accenture Interactive

Germany, Austria and Switzerland. “This is an area

where Matthias Schrader and his team have significant

expertise and experience, which we will leverage to

jointly drive our clients’ digital businesses.”

“SinnerSchrader’ highly sought-after skills will go a long

way in securing our position as one of the leading

providers for digital transformation in Germany,” said

Frank Riemensperger, country managing director of

Accenture Germany. “We are pleased to welcome the

SinnerSchrader team and its distinctive digital agency

culture.”

The transaction is subject to customary closing

conditions and is expected to close in the first half of CY

2017. ATOS ACQUIRES ZDATA, A PREMIER

CONSULTING FIRM WITH UNPARALLELED

EXPERTISE IN BIG DATA SOLUTIONS

ATOS PRESS RELEASE [17 FEBRUARY 2017]

Atos, a global leader in digital services, expands its

expertise in Big Data services with the acquisition of

zData, a leader in Big Data consulting and solutions for

both commercial and enterprise corporations. Atos has

signed a share purchase agreement with zData,

bringing a unique team of software engineers and data

scientists to support its customers’ digital

transformation journey within all sectors.

This strategic acquisition brings a new level of

scalability, reliability and performance giving

enterprises all the benefits of open-source software

framework Hadoop through the world’s most advanced

turnkey Hadoop solution for critical production

workloads. The company is working with the industries

best software providers for on-site and off-site

consulting - from Greenplum to Hadoop and PIVOTAL

HDB (HAWQ) expertise.

“We are pleased to welcome zData to the Atos team

and look forward to offering our customers the right

blueprint in their cloud application development needs

leveraging zData’s PIVOTAL Cloud Foundry

experience”, said Jerome Sandrini, Atos Vice President

and Head of Big Data, North American Operations.

“zData’s Hadoop experts and Data scientists combined

with Atos’ cognitive solutions will enable Atos to

accelerate the deployment of its Big Data and Atos

Codex solutions in North America, further strengthening

its ability to guide customers through their digital

transformation journey”.

zData’s team of experts and innovative capabilities fully

aligns to its Big Data and Atos Codex expansion

strategy notably in the U.S. Atos Codex offers

organizations fast and cost efficient means to exploit the

value of their existing data combined with external data.

In this new landscape, the ability to derive insight from

massive volumes of structured and unstructured data

will be made possible by systems which are able to

learn as they perform.

Atos Codex gives customers the techniques, tools and

processes they need to make this business-changing

step from Business Intelligence to agile analytics.

CAPGEMINI ACQUIRES TCUBE SOLUTIONS IN THE

US TO ADVANCE ITS PORTFOLIO OF MANAGED

SERVICES FOR THE INSURANCE INDUSTRY

CAPGEMINI PRESS RELEASE [16 FEBRUARY 2017]

Capgemini, a global leader in consulting, technology

and outsourcing services, announced today the

acquisition of TCube Solutions, Inc., an Insurance IT

services firm, the largest independent service provider

specializing in Duck Creek Technologies . This bolt on

acquisition fits into Capgemini’s growth strategy to

accelerate the transition of its business portfolio,

particularly in North America.

TCube Solutions specializes in Property and Casualty

(P&C) insurance software and services. Its offerings

include integrated policy management, billing, claims

operations, reinsurance management systems and data

strategy capabilities. Established in 2007, TCube

Solutions has built a 300 strong team meeting the

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systems integration and customer experience needs of

insurance clients in North America and the UK.

“TCube Solutions prides itself on its deep domain

expertise and the longevity of our customer

relationships,” comments Sam McGuckin, President

and CEO of TCube Solutions, who joins Capgemini.

“Our joining Capgemini will enable its broader customer

base to benefit from our established solutions and

services, as well as provide TCube’s current customers

the means to plan their transformational futures.”

“TCube Solutions’ growth trajectory and commitment to

delivery makes it a natural fit for Capgemini,” said

Thierry Delaporte, Group Executive Board Member,

responsible for Financial Services at Capgemini. “Their

market leading services and skill set in Duck Creek

Technologies’ based offerings opens up new

possibilities for Capgemini to address the needs of the

insurance industry and our strategic client base

worldwide. We are very pleased to welcome the TCube

team and look forward to the positive impact of their

deep industry experience and excellence in execution.”

“We have worked hard to build a strong team with key

skills and expertise that are in great demand in today’s

fast moving insurance market,” explains Sabyasachi

Patnaik, Delivery Lead, TCube Solutions, who joins

Capgemini. “As part of Capgemini we are looking

forward to helping a much wider base of clients build

more agile insurance services to enhance their

customer experiences.”

CAPGEMINI STRENGTHENS ITS DIGITAL

LEADERSHIP WITH THE ACQUISITION OF DIGITAL

STRATEGY AND DESIGN CONSULTANCY IDEAN

CAPGEMINI PRESS RELEASE [16 FEBRUARY 2017]

Capgemini, a global leader in consulting, technology

and outsourcing services, announced today the

acquisition of Idean, a fast-growing digital strategy and

experience design consultancy, headquartered in Palo

Alto, with additional studios in Austin, Los Angeles, New

York, San Francisco, Helsinki and Berlin. Idean will

reinforce the Group’s user-centered and digital-first

experience design and strategy services, particularly in

North America, and extend its network of Digital studios;

helping to meet growing customer demand for the

Group’s end to end digital services.

“Customer demand is shifting; service providers who

bring digital design, creativity, and agility to redefine the

customer experience are developing a strategic dialog

with their clients, driving uniquely differentiated

outcomes, and gaining market share as true digital

partners. The acquisition of Idean is part of the Group’s

growth strategy focused on innovation and digital

particularly in North America,” comments Paul

Hermelin, Chairman and Chief Executive Officer,

Capgemini Group. “Idean’s Scandinavian design ethos

and Silicon Valley mindset are a perfect fit to further

enhance Capgemini’s progressive digital customer

experience offerings.”

Founded in Helsinki, Finland, in 1999, Idean focuses

primarily on digital user experience (UX), customer

experience (CX), and digital strategy. Over the last

eighteen years its team of now 150+ digital strategists,

experience designers and front-end developers have

been working for a wide array of US and European

clients, including disruptive Bay Area start-ups, global

tech leaders many of whom are west coast based,

prominent brands in automotive and consumer

electronics, and companies reinventing themselves for

the digital era; clients include LG, Mercedes-Benz,

Sony, Volkswagen, 23andMe, Airbus, Cole Haan,

Ericsson, IBM, Intel, and Kesko. Starting from a deep

understanding of users, Idean engages with clients in

three main areas: envisioning strategic opportunities,

designing and building digital experiences, and

changing cultures by developing competencies in new

ways of working and design thinking.

“We formed Idean to help organizations identify new

strategic opportunities and create digital design

experiences that were based on a deep understanding

of their users,” explains Risto Lahdesmaki, CEO and

Founder of Idean, who will join Capgemini. “Joining

forces with Capgemini is extremely exciting and the

logical next step of our journey. Idean clients will

immediately benefit from an expanded and extensive

portfolio of services for digital strategy and CX

transformation, deep industry expertise in connected

vehicles and IoT, and global end-to-end delivery. For

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our people, joining Capgemini will also open up new

opportunities, from working on new clients and new

projects with Capgemini teams, to expanded career

prospects."

This transaction is expected to close by the end of

February 2017.

SAPIENS TO ACQUIRE U.S.-BASED STONERIVER,

INC. FOR APPROXIMATELY $102 MILLION

SAPIENS PRESS RELEASE [15 FEBRUARY 2017]

Sapiens International Corporation, a leading global

provider of software solutions for the insurance industry,

with a growing presence in the financial services sector,

announced today that it has entered into a definitive

agreement (subject to customary closing conditions) to

acquire privately held StoneRiver, Inc., for

approximately $102 million in cash (subject to certain

adjustments). StoneRiver delivers a wide range of

solutions and services for the insurance industry in

North America.

Headquartered in Denver, Colorado, StoneRiver’s

versatile product portfolio is comprised of a policy

administration suite, rating, underwriting, illustrations,

reinsurance, and finance & compliance solutions for all

major insurance business lines, across both property

and casualty (P&C) and life and annuities (L&A).

StoneRiver’s rich set of solutions complements

Sapiens’ existing offerings, and will allow Sapiens to

accelerate its growth in the U.S. market and globally.

StoneRiver currently services more than 200 U.S.

insurance customers, and has a team of approximately

500 insurance professionals.

“Joining forces with StoneRiver significantly expands

Sapiens’ presence and scale in the North American

insurance industry, and specifically helps us further

accelerate our growing market footprint in the U.S. P&C

space,” said Roni Al-Dor, Sapiens president and CEO.

“Moreover, the deal is closely aligned with our M&A

growth strategy that is centered on three key factors:

growing our customer base, expanding geographically

and adding complementary solutions to our portfolio –

all while we ensure our continued high quality of

services and product delivery. StoneRiver is an

acquisition that meets all of our criteria. In the past six

years Sapiens completed and integrated successfully

eight acquisitions”.

Al-Dor continued, “Sapiens is confident that with

StoneRiver, we strengthen our position as a leading

innovative global software solutions provider, offering

end-to-end solutions to the global insurance industry.

We look forward to welcoming the StoneRiver team and

combining best practices and capabilities, which will

create greater value for our mutual customers and

shareholders.”

Donald Light, Director in Celent’s North America

Property/Casualty Practice, commented, “The

continuing wave of insurance technology M&A activity

demonstrates how insurance companies value working

with providers who offer a full suite of solutions.

Sapiens’ acquisition of StoneRiver is a major step

forward in its global growth. This acquisition broadens

and deepens Sapiens’ ability to enable US insurers as

they continue their digital and modernization journeys.”

The acquisition of StoneRiver expands Sapiens’ North

American P&C portfolio with StreamSuite™, a state-of-

the-art insurance suite targeting the higher tier carriers,

complementing Sapiens’ Stingray solution that is

targeting the lower tier in the sector. The company will

also gain entry into the workers’ compensation sector,

a new area for Sapiens. Combining Sapiens’ and

StoneRiver’s reinsurance solutions is expected to

create a comprehensive market offering and will allow

Sapiens to better serve its customers.

Sapiens L&A offering will be enhanced by StoneRiver’s

stand-alone products in illustration (LifePortraits), eApp

(Life Apply) and underwriting (Life Suite). The addition

of these products to the Sapiens ALIS software suite,

together with the company’s digital suite that includes

Sapiens Intelligence and Sapiens Portal, will enable

Sapiens to offer a comprehensive and even stronger

portfolio of solutions to the life and annuities sector.

StoneRiver president and CEO Gary Anderson

commented, “We are excited to join Sapiens, a leading

software solution provider with a rich 30-plus years of

history and proven experience delivering enterprise-

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scale technology globally. Like StoneRiver, Sapiens is

focused on the insurance industry and delivering high

value end-to-end solutions of core products and

services. Sapiens’ scale, financial strength, industry

relations and innovative technologies will be a great

benefit to current StoneRiver customers and will open

up new opportunities for our employees and partners.

We look forward to working with Sapiens to achieve a

seamless transition and to significantly expand Sapiens’

North American presence.”

StoneRiver estimated Non-GAAP full year 2016

revenues are $80 million and the company is profitable.

Sapiens’ management expects this transaction to be

accretive to earnings starting with the third quarter of

2017. The transaction is expected to be completed by

the end of the first quarter of 2017. Upon completion,

StoneRiver will become wholly owned by Sapiens.

ACCENTURE TO ACQUIRE IDEFENSE SECURITY

INTELLIGENCE SERVICES, A CYBER THREAT

INTELLIGENCE BUSINESS

ACCENTURE PRESS RELEASE [09 FEBRUARY

2017]

Accenture has entered into an agreement to acquire the

iDefense Security Intelligence Services business from

VeriSign, Inc. iDefense, one of the world’s first and most

prolific cyber threat intelligence businesses, has proven

capabilities in cyber intelligence related to

vulnerabilities, malicious code and global threats to

organizations. iDefense’s next generation intelligence

platform specializes in delivering faster access to

relevant, timely and actionable security intelligence,

enabling organizations to make smarter security

decisions and defend against new and evolving threats.

Terms of the transaction were not disclosed.

Completion of the acquisition is subject to the

satisfaction of customary closing conditions.

Complementing recent security investments, the

acquisition of iDefense augments Accenture Security’s

existing Cyber Defense Services with targeted threat

intelligence that Accenture will embed into services it

manages for clients’ security operations. iDefense has

amassed vast amounts of proprietary threat intelligence

data over the past 18 years – data that powers its

application program interfaces (APIs) and its distinctive

analysis platform, IntelGraph. In addition to directly

providing threat intelligence to Fortune 500 customers,

Accenture will fuel its cybersecurity platform with these

capabilities to enhance its ability to inform clients where

threats are forming and coming from, and what actions

to take – much earlier than other providers who

leverage public data feeds.

iDefense’s capabilities will also become an integral

component of Accenture’s adversary simulation, threat

hunting and incident response services. Accenture’s

Global Delivery Network of security professionals will

further enhance iDefense’s offerings through new

telemetry sources and innovative threat intelligence

services designed to help organizations achieve

maximum value from security technologies.

“There simply isn’t enough time, budget or human

resources to defend against every imaginable attack

scenario or adversary without intelligent systems and

automation. That’s why having the best available threat

intelligence is critical to helping us protect our clients’

entire value chains, allowing them to focus on

innovation and growth,” said Kelly Bissell, managing

director of Accenture Security. “We are confident that

the collective capabilities of Accenture Security and

iDefense can help organizations better understand

where threats are coming from and adjust protections

before damage is done.”

Recent research by Accenture reveals that companies

often lack strategic threat intelligence and proper tools

to identify as well as monitor threats. Fewer than two in

five organizations report they are competent at

monitoring and evaluating business relevant threats.

“iDefense has always been recognized for our

differentiated and innovative approach to security

intelligence and vulnerability management. Our

contextual cyber intelligence is delivered to clients in a

highly consumable way, so they can confidently use it

to enhance a security control, drive a course of action

or mitigate risk effectively in their business,” said Josh

Ray, Vice President, iDefense Security Intelligence

Services. “We are very excited by this opportunity to

bring our unparalleled threat intelligence services to

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Accenture Security’s extensive portfolio of end-to-end

security and technology services.

Founded in 1998 and headquartered in Northern

Virginia, iDefense serves top-tier organizations across

a range of industries – including banking,

communications, media, technology and products.

The acquisition of iDefense builds on Accenture

Security’s commitment to investing in and innovating

advanced threat intelligence and cybersecurity

solutions. Recent acquisitions include US-based

Defense Point Security (supports the U.S. federal

government and provides advanced cyber defense and

response services), US-based FusionX, (simulates

attacks of advanced adversaries), Israeli-based Maglan

(provides vulnerability countermeasures, cyber

forensics and malware defenses, and Accenture

recently entered into an agreement to acquire US-

based Endgame Federal Services Business

(specializes in proactive cybersecurity defensive

operations).

GENPACT TO ACQUIRE THE ITEM PROCESSING

ASSETS OF FISERV AUSTRALIA

GENPACT PRESS RELEASE [06 FEBRUARY 2017]

Genpact, a global leader in digitally-powered business

process management and services, today announced

that it has signed a definitive agreement with global

financial services technology solutions provider Fiserv,

Inc. (NASDAQ: FISV), to acquire the assets of its

Australia-based Item Processing Business (IPB), which

serves three of the four major retail banks in Australia,

handling approximately 70 percent of all checks

processed in the Australian market. Financial terms will

not be disclosed.

The move strengthens and expands Genpact’s

capabilities in the Australian market as well as in the

banking and financial services industry, furthering its

ability to transform and digitize high-volume transaction

operations for banks, especially in the payments space.

The IPB provides superior client service outcomes and

operational economies of scale to a mission-critical

process that is an essential part of the Australian

financial ecosystem. The IPB’s clients benefit from the

integration of industry-leading processes, technology,

and employee expertise to significantly improve

payment processing operations that handle more than

100 million checks annually.

“The item processing assets and expertise will

strengthen Genpact’s Financial Services business with

the addition of a strategic capability, talented workforce,

and an extended client base,” said Mohit Thukral, senior

vice president and business leader, Banking, Financial

Services and Insurance, Genpact. “This addition also

provides a unique skill set for driving digital

transformation both in the financial services industry

and the Australian market, which is a key strategic focus

for us.”

“Genpact is well-positioned to carry the business

forward, given its business process expertise and our

shared commitment to innovation and service

excellence,” said Steve Tait, group president, Fiserv.

“Fiserv remains fully committed to growth in Australia

within our strategic solutions including Digital Banking,

Managed Services, Risk and Compliance, Core

Banking and Payments. We believe clients of IPB and

its associates will be very well-served by Genpact.”

Genpact’s Lean DigitalSM approach – leveraging

domain expertise, process excellence, design thinking,

analytics and digital technologies – combined with the

IPB’s payment processing expertise and experienced

talent – will help further drive effective and

transformative outcomes for Genpact and IPB clients.

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CONTRACT TRACKER

NTT DATA AWARDED CONTRACT FOR

DEPARTMENT OF HOMELAND SECURITY, OFFICE

OF BIOMETRIC IDENTITY MANAGEMENT

NTT DATA PRESS RELEASE [8 FEBRUARY 2017]

NTT DATA, Inc., a recognized leader in global IT

services, today announced the company has been

awarded a contract with the U.S. Department of

Homeland Security, Office of Biometric Identity

Management (OBIM). NTT DATA will provide OBIM

with independent system level testing support and

quality assurance services over the course of the multi-

year, $8 million contract. NTT DATA will work with OBIM

to sustain operations of its legacy system, the

Automated Biometric Identification System (IDENT),

while introducing agile methodologies designed to

assist with implementation of the Department’s new

Homeland Advanced Recognition Technology (HART).

OBIM provides advanced biometric identification,

information sharing and analysis to authorized frontline

decision makers so they are able to accurately identify

the people they encounter and assess whether they

pose a risk to the United States. NTT DATA will provide

verification and validation for information technology

products and services for OBIM.

“Modernizing legacy infrastructure and applications

systems is mission critical to public sector clients. We

appreciate OBIM’s confidence in our ability to help

manage its transition from IDENT to HART,” said Tim

Conway, president, public sector, NTT DATA. “We plan

to deliver as promised – secure, reliable data across the

OBIM enterprise.”

DEFENSE LOGISTICS AGENCY AWARDS LEIDOS

J6 ENTERPRISE TECHNOLOGY SERVICES PRIME

CONTRACT

LEIDOS DATA PRESS RELEASE [8 FEBRUARY

2017]

Leidos, a global science and technology company, was

awarded one of the indefinite-delivery/indefinite-

quantity contracts from the Defense Logistics Agency

(DLA) to support the J6 Enterprise Technology Services

(JETS) program. The multiple-award firm-fixed-price

contract has a five-year base period of performance,

one three-year option, and a total contract ceiling of $6

billion if the option is exercised. Work will be performed

primarily in the Northern Virginia / Washington, D.C.

metro area and DLA locations world-wide, including

Columbus, OH, Philadelphia and New Cumberland, PA,

Richmond, VA, Battle Creek, MI, Ogden, UT, Honolulu,

HI, and Kaiserslautern, GE.

The DLA is the Department of Defense's combat

logistics support agency, providing worldwide logistics

support in both peacetime and wartime to the military

services as well as several civilian agencies and foreign

countries. The DLA JETS program will provide DLA

Information Operations (J6) the full range of information

technology services to develop, maintain, and protect

the applications, software, hardware, and systems that

support DLA's mission as the combat logistics support

agency to the U.S. military services. Under the contract,

Leidos will compete for task orders related to 21 Task

Areas ranging from network and technology services, to

application development and sustainment, including

information assurance and cybersecurity, systems

engineering and enterprise architecture support, and

other technology and program support services.

"We look forward to applying our innovative enterprise

information technology services to the JETS program to

ensure DLA information Operations (J6) achieves its

mission to support the DOD community with the highest

quality information systems, customer support, efficient

and economical computing, and data management,"

said Leidos Defense and Intelligence President, Tim

Reardon.

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MOVERS AND SHAKERS V RAMAKRISHNAN APPOINTED CFO OF TCS

TCS PRESS RELEASE [20 FEBRUARY 2017]

Tata Consultancy Services (TCS), a leading global IT

services, consulting and business solutions

organization, today announced V Ramakrishnan has

been appointed as the Chief Financial Officer.

Ramakrishnan takes over from Rajesh Gopinathan,

who has been appointed as the Chief Executive Officer

& Managing Director of TCS.

“I am delighted to announce the appointment of V

Ramakrishnan (“Ramki”) as the CFO of TCS with effect

from February 21, 2017. Ramki has been a key member

of the TCS Finance team for more than 17 years and

has worked closely with me over the last 9 years. I am

confident that under Ramki’s leadership TCS Finance

will continue to extend its leadership position,” said

Rajesh Gopinathan, CEO –Designate, TCS.

Ramki joined TCS Finance in 1999 and served as the

Finance head of TCS North America for 7 years. Ramki

closely partnered with business in the rapid growth of

TCS’ operations in the region. Most recently he has

been responsible for the financial controllership of TCS

subsidiaries and branches globally and various merger

& acquisitions integration initiatives.

“I am grateful to the TCS Board and humbled by the

trust and confidence placed in me. As we pivot to lead

in a Digital world, the role of Finance becomes even

more strategic and I look forward to working closely with

Rajesh and the TCS team in our journey to sustain and

enhance stakeholder value," said V Ramakrishnan.

Ramki is a graduate in commerce from Loyola College

Chennai. He is a member of the Institute of Chartered

Accountants of India, the Institute of Company

Secretaries of India and the Institute of Cost

Accountants of India.

HEXAWARE STRENGTHENS ITS LEADERSHIP

TEAM

HEXAWARE PRESS RELEASE [14 FEBRUARY 2017]

Hexaware Technologies Limited, a leading global

provider of Application, Infrastructure, BPS and Digital

services announced the appointment of Krishna Kumar

as the Chief Technology Officer of the Company.

Krishna Kumar comes with over 25 years of experience,

with almost a decade in TCS and nearly another in

Yahoo. More recently, he has been working on big data

platforms and cloud infrastructures. He has an

engineering degree from IIT, Madras, India.

Welcoming Krishna Kumar to Hexaware, R Srikrishna,

CEO & Executive Director, Hexaware Technologies

Limited said, “Krishna joins us with a wealth of

experience. His appointment strengthens our team and

brings leadership skills directly relevant to the stage at

which Hexaware is today. Our industry, for too long, has

grown on the back of labor arbitrage. The future,

though, will belong to service providers that are great at

eliminating labor using automation and technology.

Krishna will lead the Digital Workforce for Hexaware.”

Commenting on his appointment, Krishna Kumar

stated, “These are definitely interesting times, for the

software industry as a whole and for the IT services

industry in particular. Automation, and related

technologies like Machine Learning, are going to be

disruptive for our industry, as for any other. But, in a

way, this can be seen as a technology which

turbocharges the productivity of our employees; not

dissimilar to the way a farmer of today feeds 20 times

more mouths compared to a farmer of 100 years ago,

through the use of agricultural technologies. I believe

Hexaware is in a sweet spot of being nimble enough to

the lead the adoption of automation technologies from

the front and tough enough to come out on the right side

of this inevitable disruption.”

11

EXPANSION COGNIZANT EXPANDS OPERATIONS IN HONG

KONG

COGNIZANT PRESS RELEASE [2 FEBRUARY 2017]

Cognizant, a leading global provider of information

technology, consulting and business process services,

today announced the expansion of its operations in

Hong Kong with the opening of a new office.

Cognizant's expanded presence in Hong Kong will

enhance its existing operations in the Greater China

region and enable Cognizant's global, regional and local

clients to leverage the technical and business

capabilities available in the region, while delivering deep

local insights and time zone advantages to the

company's growing roster of customers in Asia Pacific.

Cognizant currently employs more than 300

professionals in Hong Kong, delivering a broad range of

services—across digital business, operations, and

systems and technology—to more than 30 leading

organisations in industry sectors such as financial

services, insurance, retail, consumer goods, energy,

utilities, and travel and hospitality.

"We are pleased that Cognizant has established a new

office in Hong Kong, underscoring its long-term

commitment to the region," said Arthur Wong, Chief

Information Officer at China Construction Bank (Asia)

Corporation Limited [CCB (Asia)], a leading provider of

commercial, corporate, consumer and private banking

services. "CCB (Asia) has been using Cognizant's high-

quality financial services and technology expertise for

years to manage and operate essential business

processes more efficiently, lower operating costs

through automation, enhance risk management, and

deliver better business outcomes. Technology is key to

realizing our vision of innovative and smart banking in

today's digital era. In Cognizant, we have a partner who

can help us unlock the full power of our technology

environment and create competitive advantage through

process and technology excellence."

"We congratulate Cognizant on the inauguration of its

new office in Hong Kong," said Gary Ma, Chief

Information Officer at BOC International Holdings.

"Over the past few years, Cognizant has been providing

us with a range of technology services. We look forward

to a continuing and collaborative partnership."

"We continue to steadily grow our presence and

investment in Hong Kong," said Jayajyoti Sengupta,

Asia Pacific Head at Cognizant. "Hong Kong's booming

information and communication technology sector is

among the world's most advanced. That, combined with

Hong Kong's specialist business and technology talent,

makes the city a great location for us to deliver mission-

critical transformative services to our clients in Asia

Pacific and elsewhere, helping them navigate the shift

to the digital era and enabling them to build stronger,

more agile and innovative businesses. Our expansion

in Hong Kong underscores our confidence in the ability

of the city's talent pool to help our clients win in today's

technology- and data-intensive world."

Cognizant runs an active graduate recruitment

programme in Hong Kong to hire entry-level technical

and management talent from premier institutions and

has been hiring graduates from institutions such as

Hong Kong University, Chinese University, and City

University. As part of its commitment to building talent

for the future, Cognizant provides technical and soft

skills training to entry-level hires in line with global

benchmarks and deploys them to technology and

consulting projects upon the successful completion of

the training.

12

TRENDS AND VIEWPOINTS WORLDWIDE SPENDING ON DIGITAL

TRANSFORMATION TECHNOLOGIES TO REACH

$1.2 TRILLION IN 2017

IDC PRESS RELEASE [23 FEBRUARY 2017]

IDC forecasts worldwide spending on digital

transformation (DX) technologies to be more than $1.2

trillion in 2017, an increase of 17.8% over 2016. IDC

expects DX spending to maintain this pace with a

compound annual growth rate (CAGR) of 17.9% over

the 2015-2020 forecast period and reaching $2.0 trillion

in 2020.

"Changing competitive landscapes and consumerism

are disrupting businesses and creating an imperative to

invest in digital transformation, unleashing the power of

information across the enterprise and thereby improving

the customer experience, operational efficiencies, and

optimizing the workforce," said Eileen Smith, program

director in IDC's Customer Insights & Analysis Group.

"In 2017, global organizations will spend $1.2 trillion on

digital transformation with discrete and process

manufacturers contributing almost 30% of this

spending, while the fastest growth will come from retail,

healthcare providers, insurance, and banking."

The technology categories that will see the greatest

amount of DX spending in 2017 are connectivity

services, IT services, and application development &

deployment (AD&D). Combined, these categories will

account for nearly half of all DX spending this year.

However, investments in these categories will vary

considerably from industry to industry. The discrete and

process manufacturing industries, for example, will

invest roughly 20% of their DX budgets in AD&D and

another 12-13% in IT services while the transportation

industry will devote nearly half of its spending to

connectivity services.

The fastest growing technology categories associated

with digital transformation over the five-year forecast

are cloud infrastructure (29.4% CAGR), business

services (22.0% CAGR), and applications (21.8%

CAGR). And, despite a CAGR that is slower than the

overall market (17.3%), AD&D spending will grow fast

enough to overtake IT services as the second largest

DX technology category by 2020.

More than half of all DX investments in 2017 will go

toward technologies that support operating model

innovations. These investments will focus on making

business operations more responsive and effective by

leveraging digitally-connected products/services,

assets, people, and trading partners. Investments in

operating model DX technologies help businesses

redefine how work gets done by integrating external

market connections with internal digital processes and

projects. The second largest investment area will be

technologies supporting omni-experience innovations

that transform how customers, partners, employees,

and things communicate with each other and the

products and services created to meet unique and

individualized demand.

On a geographic basis, Asia/Pacific (excluding Japan)

will see the largest investments in DX technologies in

2017 with 37% of the worldwide total. DX spending in

this region will be led by the discrete and process

manufacturing industries as well as professional

services firms. The United States will be the second

largest region with 30% of the worldwide total, led by

professional services, discrete manufacturing, and the

transportation industries. Latin America and the Middle

East and Africa will experience the fastest growth in DX

spending with five-year CAGRs of 23.4% and 22.6%,

respectively.

WORLDWIDE BUSINESS INTELLIGENCE AND

ANALYTICS MARKET TO REACH $18.3 BILLION IN

2017

GARTNER PRESS RELEASE [17 FEBRUARY 2017]

Global revenue in the business intelligence (BI) and

analytics software market is forecast to reach $18.3

billion in 2017, an increase of 7.3 percent from 2016,

according to the latest forecast from Gartner, Inc. By the

end of 2020, the market is forecast to grow to $22.8

billion.

According to Gartner, modern BI and analytics

continues to expand more rapidly than the overall

market, which is offsetting declines in traditional BI

13

spending. The modern BI and analytics platform

emerged in the last few years to meet new

organizational requirements for accessibility, agility and

deeper analytical insight, shifting the market from IT-led,

system-of-record reporting to business-led, agile

analytics including self-service.

The modern BI and analytics market is expected to

decelerate, however, from 63.6 percent growth in 2015

to a projected 19 percent by 2020. Gartner believes this

reflects data and analytics becoming mainstream. The

market is growing in terms of seat expansion, but

revenue will be dampened by pricing pressure.

Gartner believes the rapidly evolving modern BI and

analytics market is being influenced by the following

seven dynamics:

Modern BI at scale will dominate new buying —

While business users initially flocked to new modern

tools because they could be used without IT assistance,

the increased need for governance will serve as the

catalyst for renewed IT engagement. Modern BI tools

that support greater accessibility, agility and analytical

insight at the enterprise level will dominate new

purchases.

New innovative and established vendors will drive

the next wave of market disruption — The

emergence of smart data discovery capabilities,

machine learning and automation of the entire analytics

workflow will drive a new flurry of buying because of its

potential value to reduce time to insights from advanced

analytics and deliver them to a broader set of people

across the enterprise. While this "smart" wave is being

driven by new innovative startups, traditional BI vendors

that were slow to adjust to the current "modern" wave

are driving it in some cases.

Need for complex datasets drives investments in

data preparation — Business users want to analyze a

diverse, often large and more complex combinations of

data sources and data models, faster than ever before.

The ability to rapidly prepare, clean, enrich and find

trusted datasets in a more automated way becomes an

important enabler of expanded use.

Extensibility and embeddability will be key drivers

of expanded use and value — Both internal users and

customers will either use more automated tools or will

embed analytics in the applications they use in their

context, or a combination of both. The ability to embed

and extend analytics content will be a key enabler of

more pervasive adoption and value from analytics.

Support for real-time events and streaming data will

expand use — Organizations will increasingly leverage

streaming data generated by devices, sensors and

people to make faster decisions. Vendors need to invest

in similar capabilities to offer buyers a single platform

that combines real-time events and streaming data with

other types of source data.

Interest in cloud deployments will continue to grow

— Cloud deployments of BI and analytics platforms

have the potential to reduce cost of ownership and

speed time to deployment. However, data gravity that

still tilts to the majority of enterprise data residing on-

premises continues to be a major inhibitor to adoption.

That reticence is abating and Gartner expects the

majority of new licensing buying likely to be for cloud

deployments by 2020.

Marketplaces will create new opportunities for

organizations to buy and sell analytic capabilities

and speed time to insight — The availability of an

active marketplace where buyers and sellers converge

to exchange analytic applications, aggregated data

sources, custom visualizations and algorithms is likely

to generate increased interest in the BI and analytics

space and fuel its future growth.

"Organizations will benefit from the many new and

innovative vendors continuing to emerge, as well as

significant investment in innovation from large vendors

and venture capital-funded startups," said Ms. Sallam.

"They do, however, need to be careful to limit their

technical debt that can occur when multiple stand-alone

solutions that demonstrate business value quickly, turn

into production deployments without adequate attention

being paid to design, implementation and support."

14

NASDAQ-100 TECHNOLOGY SECTOR INDEX AND BSE-INFOTECH INDEX

hvsu

Key Highlights

1 month return: 3.2%

1 quarter return: 15.1%

1 year return: 43.4%

1 month return: 8.3%

1 quarter return: 9.1%

1 year return: -4.3%

Methodology

We have used the NASDAQ-100 Technology sector and BSE-INFOTECH Indices for US and Indian technology sector

respectively. We have standardized both the indices using base value of 100 on July 7th 2010. The index is updated for

the closing price on the first Friday of every month. We have used closing price as on 3rd March 2017 for this edition of

the newsletter.

Premier India Football Academy NASDAQ-100 TECHNOLOGY SECTOR Index AND BSE-INFOTECH Index

NASDAQ-100 TECHNOLOGY SECTOR BSE-INFOTECH

9.1%

15.1%

8.3%

-4.3%

3.2%

6.2

43.4%

15

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