Despite competition IT companies add customers in 2004
By agencies   |   Monday, 07 February 2005, 20:30 IST   |    4 Comments
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NEW DELHI:Despite competition and appreciating rupee, the IT industry added more customers in 2004. The hike in customers was caused by both organic and inorganic methods, i.e. through hard selling and acquisition. Though IT companies were overall major gainers, Infosys was an exception as it added 38 new customers and lost 35 clients. Other IT companies like Wipro and Satyam lost less than half of their clients. HCL Tech saw 16 clients and lost none. Like year was a year of mergers and acquisitions and companies like MphasiS lost just one client after its acquisition of Kshema Technologies. Infosys' dependence on its top client reduced from 5.5 percent to 4.9 percent while Wipro did reduced it to 4.2 per cent from 5 percent.

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