Today in Tech: Genpact, OnMobile, Earnings Season, Google+ for iPad

Inorganic Growth at Genpact Even a couple of years back Genpact was in news primarily as an acquisition target for bigger IT companies such as Cognizant. IT Services companies were trying to strengthen their BPO business, and two big investors in Genpact - Oak Hill Capital and General Atlantic Partners – were in the market to sell their combined stake of 41%. In fact, when Genpact bought Headstrong paying $550 million, the idea that it might have made the acquisition to ward off potential strategic investors was not inconceivable. (Times of India recently reported that Apax and Bain might be interested in that stake)

Now, it’s getting more clear that Genpact wants to be in the big league in its own right. Financial Express points out that it has made seven acquisition in the last 18 months, all in a bid to strengthen its Smart Decision Services, which it hopes to build into a billion dollar business. Its most recent acquisition, announced a couple of days back was Triumph Engineering.
Pramod Bhasin, who stepped down as its CEO last year (and is now setting up a skills training business with DLF’s Pia Singh) told Forbes India earlier: "The old cliché view of the BPO industry is long obsolete." He was referring to technology heavy processes such as analytics and smart enterprise processes. Technology plays a major role, and acquisitions help.

OnMobile: value subtracting services
The government has sought a report on OnMobile following the departure of its CEO, according to Mint newspaper. The report quotes corporate affairs minister M. Veerappa Moily as saying “If, on the basis of the RoC report, we find any evidence to proceed on the case, we will take action”. Business Standard says several analysts were surprised at the lack of communication.
OnMobile has been anything but transparent – and even misleading - when it came to dealing with this case. On June 28th it sent out a press release denying ET Now report as "baseless and devoid of factual accuracy". “All appointments of external consultants by OnMobile over the past year have been pursuant to the “OnMobile 2020” strategy announced last year,” it said. When investors called the company, they were told that the reports were baseless and they were in the process of suing the channel.

Yet, after the board meeting on Monday, it revealed:“Based on a recently concluded special review completed by our legal advisors, Amarchand Mangaldas & Suresh A. Shroff, Advocates duly supported by KPMG, the Board of Directors today took on record the report submitted and noted that the review had identified weaknesses in some processes.”
As the result, the CEO resigned, an interim CEO has taken charge, and the company is in search of a new CEO. The stock price went up by 9% yesterday. It almost sounds like a good resolution to a complicated case. But, it is not.

Earnings announcements in the coming weeks:
12 July - TCS & Infosys
24 July - Wipro
2 August - Genpact
6 August – Cognizant

Google Plus for iPad
I had more or less concluded that Facebook had scored a decisive victory over Google Plus in social media space, till I saw this datapoint. Forbes India has 23,430 followers on Twitter, 26,451 likes on Facebook and 1,08,462 +1s on Google Plus. So, when GooglePlus launched an app for iPad, I had to test it out. It’s fast, well-designed and sleek. Only problem, none of my friends seem to be using it.

Also of interest

• Windows 8 release confirmed for October: Here’s how to get the best upgrade deal: ExtremeTech
• Pinterestification! Sociable Labs Signs Up Wine.com, 19 Others For Its Pinterest-Like EverShare Offering: Tech Crunch
• Is hot payment startup Stripe worth half a billion? : GigaOm
• Social discovery service bitly raises $15M round led by Khosla: GigaOm
• Tax Liability Issue may Hit Hutch’s BPO Deal: Economic Times
• Oracle continues to add social media muscle with Involver deal: Reuters
• US Bill on green cards may soon be introduced in Senate: Bill will reduce waiting period for Indian, Chinese applicants; may increase the same for other applicants: Mint

The thoughts and opinions shared here are of the author.