The board of Satyam Computer Services would meet on December 29 to discuss the various issues including the fate of its independent director, Dr Mangalam Srinivasan and Chairman, Ramalinga Raju. Dr. Srinivasan and Mr. Raju are under pressure to quit their posts following the failed attempts to acquire Maytas firms. The Dean of Indian School of Business, Dr Mendu Rammohan Rao would also attend the proposed meet.

Indian IT services provider Wipro Technologies has decided to acquire Citigroup’s arm, Citi Technology Services, the technology and infrastructure outsourcing arm of Citibank for an all-cash offer of $127m.

Founded in 2005, India-based Citi Technology provides IT services to the Citigroup entities in more than 32 countries. The company provides critical technology infrastructure support, development and deployment of strategic software applications in the BFSI domain.

Personal computer (PC) shipments showed a marginal increase of 1.7% for the period ended September 2008. It indicates about 9 per cent drop in the PC shipments as compared to the previous data. Meanwhile, note book shipment has shown 38% increase in the third quarter according to the recently compiled data of research firm, IDC.

Indian software and outsourcing giant Wipro Technologies, is all set to buy the IT arm of Citigroup for around $127 million. Citi Technology Services deals with IT services and solutions of City group's Indian operations.

Citigroup would outsource all future infrastructure management contracts to Wipro. The Indian firm would also absorb about 2000 employees of City in its Mumbai and Chennai offices. It would provide all infrastructure and development related aids to the bank for six years, to assure revenue of at least $500 million.

The World Bank has decided to ban, India's top computer software services provider Satyam Computer, for eight years, starting from September this year. The company has been charged with the data theft and paying bribes to its staff for its vested interests. The bank has decided to snap all business ties with the computer giant, following a flood of complaints.

IT services firm Hexaware Technologies has appointed new heads for its business units and has strengthened its organisational structure and the management team.

The software exporter shall now focus on three specific business areas, banking, financial services and insurance (BFSI); travel and transportation; and Emerging verticals.

The Emerging verticals unit will concentrate the manufacturing and healthcare areas and the existing non BFSI and non travel and transportation activities at one place, for better management.