HCL Technologies, a leading offshore IT & software development company, on Wednesday reported a 42 per cent decline in its net profit at Rs 152.57 crore for the third quarter ended March 31, 2009

The firm had posted a net profit of Rs 263.08 crore in the same quarter last fiscal.

In addition, the total income of the company also fell to Rs 1,048.90 crore in the quarter under review, against Rs 1,275.58 crore in the same quarter previous fiscal.

For the nine-month ended March 31, the company has posted a net profit of Rs 804.37 crore from Rs 794.19 crore in the same period a year ago, up 1.28 per cent.

MindTree Limited, a Rs 800-crore software and R&D services company, has entered into a global strategic alliance with Skytap Inc, a leading provider of cloud-based virtual lab solutions.

According to company officials, the partnership enables MindTree's customers to scale test labs on-demand through Skytap's virtual lab solution, resulting in reduced IT costs, accelerated lab provisioning, and effective collaboration among global teams.

Skytap provides testing teams with a complete virtual lab solution over the Web.

OnMobile Global Ltd and Vodafone Group have entered into an agreement to deploy OnMobile's Ringback Tones, Voice Portal and Speech-enabled Value Added Services to the Vodafone Group emerging markets operating companies.

The agreement enables Vodafone operators and Partner Networks across the world to rapidly deploy OnMobile's products which have achieved remarkable success for Vodafone in the fast growing Indian VAS market

Hyderabad-based Satyam Computer Services Ltd. notified on Tuesday that it has got regulatory approval from NYSE Euronext, to delist its American depositary shares, effective May 20.

NYSE Euronext is a Euro-American corporation that operates multi-securities exchanges.

The latest development comes after Venturbay Consultants Private Ltd, a subsidiary controlled by Tech Mahindra last week emerged as the highest bidder to acquire a majority stake in the troubled software company.

US-based software major, Oracle Corporation, on Monday agreed to acquire Nasdaq-listed Sun Microsystems Inc for $7.4 billion at $9.50 per share in an all-cash transaction.

It should be noted that the deal just comes after a week, when IBM's (International Business Machines) plan to buy the maker of Java software fell apart.

Chennai-based Polaris Software has finally declared its fourth quarter results on Monday.

The firm posted a 78.5 per cent growth in its net profit at Rs 130.71 crore during the year ended March 31, 2009 against Rs 73.22 crore in the previous year.

The company's Q4 net profit stood at Rs 32.1 crore versus Rs 37.16 crore, QoQ.

Apart from this, the company's total income rose 18 per cent to Rs 337.25 crore in the fourth quarter, from Rs 286.16 crore in the same period last fiscal.