BENGALURU: India's second largest software exporter Infosys has laid out an ambitious charter for next year under the leadership of Vishal Sikka and internally communicated to executives and employees that the company must grow revenues by 16% in the financial year ending March 2017, according to two people present at Infosys's annual strategy meeting last week.

The top brass at Infosys led by Sikka, who has laid out a broader vision of making Infosys a $20-billion company by 2020, wants Infosys to outpace all its top-tier rivals such as TCS and US-based Cognizant Technology Solutions, which has forecast revenue growth in the range of 10-14% for 2016.

Infosys on Friday said that it has appointed Michael Pesch as Chief Executive Officer of Infosys Consulting Holding (formerly Infosys Lodestone), with an aim of strengthening its consulting practice.

In this role, which would be effective April this year, Pesch, who has previously served as CEO of Germany-based arvato Systems Group would be responsible for Infosys'

IT major Wipro is setting up new software development centres in Bengaluru that would potentially employ 25,000 people, while its cross town rival Infosys is setting up a centre in Hubbali in North Karnataka.

“We are in the midst of expansion, which will add 25,000 people to Karnataka and to Bengaluru. Our experience is that Bengaluru is a source of technical talent. Inspite of Bengaluru's infrastructure, it has very nice weather, people with very strong science background and it is a cosmopolitan city,” Wipro Chairman Azim Premji told the Invest Karnataka summit here on Wednesday.

Washington: Three major Indian information technology firms—Infosys Ltd, Tata Consultancy Services Ltd (TCS), and Wipro Ltd—have joined US President Barack Obama’s “computer science for all” initiative as part of a public-private collaboration, pledging thousands of dollars in grants.

Obama announced the plan in his weekly address on Saturday as he emphasized on the need for teaching computer science as a “basic skill” to all children across schools in the country in a changing economy.

Bengaluru: Infosys Ltd has bought a minority stake in Waterline Data Science Inc., a start-up based in Delaware, US, which helps companies make sense of large data sets, for $4 million.

Infosys investment allows it to have “a minority holding, not exceeding 20% of the outstanding share capital of the company” and it expects to close its investment by 4 February, the company said on Thursday.

Bengaluru: Cognizant Technology Solutions Corp. has done more business or added more incremental revenue in calendar year 2015 than India’s three largest software firms, including Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd, put together—a fact which underlines why last year was bad for the poster boys of India’s $146 billion outsourcing sector.

IT major Infosys today said the recent H1B visa fee hike by the US is likely to have less than 0.3% impact on its margins.

The company is also working on utilising other levers like increasing onsite recruitment to mitigate the situation in the longer term.

Shares of Infosys have moved higher by 2.6% to Rs 1,077 on the BSE ahead of the third quarter results tomorrow on January 14, 2016.

A global leader in consulting, technology, outsourcing and next-generation services, will announce the results for its third quarter ended December 31, 2015 (Q3) on Thursday, January 14, 2016 around 8:45 a.m., Infosys said in a regulatory filing.

Infosys on Tuesday said that the company will soon inaugurate its largest campus in the country, with the capacity of seating 25,000 people, in Pocharam, Hyderabad.

Soon after, the company, in a post on the official website, has said that this campus will be India's first fully solar-powered corporate unit thanks to "the launch of its solar PV power plant of 6.6 MW capacity at Pocharam in the state of Telangana."

Bengaluru: Nike Inc.’s October announcement of a partnership with DreamWorks Animation-backed Nova to tap 3D technology to change the way it designs its athletic gear, was cheered in the Bengaluru office of Infosys Ltd.

The Indian software services firm invested $15 million in Nova earlier this year, its first investment from a $500 million innovation fund created to back start-ups focused on disruptive technologies.

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