Mid-tier India-centric (though US-headquartered) IT services firm iGate ended the year at a reasonable pace, with 2013 revenues 7% higher at $1,15bn. Operating margins were slightly better yoy, at 19.7%.
Now starts the first full year with new CEO Ashok Vemuri at the helm (see iGate snaps up ex-Infosys exec for CEO job). As much as there is a huge bunfight among the India-based ‘majors’ for the bigger deals (and some smaller ones too!), so there is likewise among iGate’s legion mid-tier peers such as Mastek, Hexaware, Mindtree, NIITTechnologies and, who knows, perhaps a soon-to-be resurgent Larson & Toubro Infotech. All of these – and others besides – compete for business in the UK.
We’ll have more, as ever, in the next edition of OffshoreViews.