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#Large Deals

  • 1

    HCLTech wins $2.1-billion deal from Verizon.

    Verizon    HCL   

    EIIR POV: Two points here: As part of deal HCLTech will take over Verizon Business Global Customer Operations staff. We wrote about this earlier for buying captives, service providers should look for professional services division of enterprises and ISVs. 2. In this macro environment, mega deals are available. Service providers which can win these mega deals will outperform others.

  • 2

    Infosys wins a mega $2.5 billion contract from Liberty Global. Infosys will take responsibilty of developing and managing digital entertainment and connectivity platforms.

    Liberty    Infosys   

    EIIR POV: It's not just about the contract value; it's the groundbreaking business model to make cost variable with potential upside. It? has components of enterprise solution monetization with Horizon platform.

  • 3

    Lexmark Selects TCS to Transform its Digital Core to Deliver Faster Time to Market. It has components of enterprise solution monetization with Optra IoT platform.

    Lexmark    TCS   

    EIIR POV: Enterprise solution monetization will become part of more number of large engineering deals

#Service Provider M&A

  • 1

    ALTEN acquires Accord Global Technology Solutions, an automotive engineering services company based out of India with 500 people.


    EIIR POV: Two trends here. 1. Engineeirng M&As are on rise especially in automotive. 2. European service providers are augmenting their Asian footprints.

  • 2

    Endava is acquiring TLM which is based out of Reno, US and provides outsourced development services across design, engineering and art/animation for PC and console video games and other digital entertainment. TLM has deep relationships with a wide array of platform partners (such as Microsoft, Sony, Nintendo, Unreal, Crytek) and with clients in the US and around the world including prominent games publishers and developers.


    EIIR POV: Gaming looks to be next area of growth for software product engineering service providers.

  • 3

    Xoriant acquires Thoucentric, which has 450 people and strong domain and consulting capabilities in CPG and Supply Chain.


    EIIR POV: The next phase of digital engineering will be the combination of digital consulting and engineering for creating total solutions for clients.

#Generative AI

  • 1

    Sonata Software collaborates with Microsoft, utilizing the EPICS (Engineering Pipeline Infrastructure and Cloud Services) BOT. This BOT assists Client Dataverse Engineering teams by providing information on various technical topics, such as accessing or provisioning VMs. The BOT is integrated with Azure OpenAI. Additionally, they are developing a centralized index comprising approximately 14,000 wiki articles using Azure Cognitive Search.

    Microsoft    Sonata Software   

    EIIR POV: Interesting to see Generative AI deals in product engineering.

#Private Equity

  • 1

    Carlyle invests $500 million into Quest Global for 28% stake at a valuation of $1.8 Billion. Quest FY24 revenue is likely to be $900 Million.


    EIIR POV: Good to see the continued interest of PE firms in engineering firms. Compared with the valuation of other engineering pure-plays, it looks like Carlye got a good deal.

#Service Provider Geographic Expansion

  • 1

    Globant Announces USD 1 Billion Investment in Latin America. It has a hiring plan to add 20,000 new professionals over the next five years across 30 of Globants development centers in Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Peru, Mexico, and Uruguay.


    EIIR POV: Latin America will become an important hotspot for softwtare product engineering.


  • 1

    India's Chandrayaan-3 mission successfully soft-landed on the lunar south pole, making India the fourth country to do so. The lander, Vikram, touched down on the surface of the moon after a 40-day journey from Earth. The rover, Pragyan, was also successfully deployed from the lander.


    EIIR POV: An incredible engineering achievement by ISRO.


  • 1

    Infosys Onboards Tennis Icon Rafael Nadal as Ambassador for the Brand and Infosys Digital Innovation


    EIIR POV: A good move for the corporate brand as well as employer brand. Back in the day Accenture used to have Tiger Woods as its brand ambassador. It is the next phase of the evolution of Indian IT service providers amplifying their?brands?globally


  • 1

    Pico MES, a software company that helps small and midsized manufacturers better manage their factory floors, has raised $12.35 million in an early-stage investment round. Investtors include the venture capital arms of two large manufacturers: Bosch and Schneider Electric.

    Bosch    Schneider Electric SE    Pico MES   

    EIIR POV: SMB market has been a challenge for manufacturing ISVs. Good to see tow manufacturing giants coming together to invest in SMB focused MES ISV.



Watch Out for these Insights in Sep-23

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This data is based on secondary research and our estimates. If you find any discrepancy please write to