KPIT said it is working on four areas to improve performance – profitability improvement, people development, predictability and growth.
The deal is structured as an asset purchase and is expected close at the end of August.
PayPal, the company that pioneered online payments, is evaluating options to bring its full suite of payment offerings to India.
India was the sole emerging market bright-spot in IBM's second-quarter earnings, as the other BRIC countries weighed down the technology giant's results.
For the quarter ended June 30, Infosys reported revenue growth of 4.5 per cent sequentially, the highest in 15 quarters, excluding acquisitions.
Cyient, an IT and engineering services company, is scouting for acquisitions and could close as many as two this year, as it looks to boost its offerings.
Zensar expects its digital business to contribute about a fifth of its revenue in the next two-three years, as it continues to invest in the fast-growing sector.
L&T Technology Services is focusing on improving its margin and monetising its platforms as it prepares for an initial public offering next year.
The company also said its India headcount rose to 21,353 at the end of June this year, from 18,495 in the same period last year.
WNS also raised its full-year revenue expectation to between $523 million and $549 million, up from $503.0 million in FY15.
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