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News

• UXC completes FSG unit sale

  UXC Limited (ASX:UXC) has become a pure IT business, now that the $61m sale of its Field Solutions Group unit is complete

• ICSGlobal reports maiden $204k profit

  IT consulting and e-business company ICSGlobal (ASX:ICS) said solid growth in the UK helped the company move to an FY11 profit

• Ideas 1H profit grows 23.8%

  IT research firm Ideas International (ASX:IDE) lifted its 1H profit 23.8%, and is “cautiously confident” it can maintain its momentum for the rest of the year

• SMS Management FY profit nears $30m

  SMS Management and Technology (ASX:SMX) lifted its earnings for FY11 despite underwhelming contributions from its Renewtek acquisition

• Oakton FY11 profit slumps 35%

  IT service provider Oakton (ASX:OKN) has reported profit and revenue declines for FY11, blaming the under-performance of its Victorian operations

• UXC close to selling business unit

  IT services company UXC Limited (ASX:UXC) hopes to close the sale of its Field Solutions Group this month, after the buyer won finance approval for the deal

• HCL FY11 profit climbs 35%

  Strong demand for IT services in the APAC-MEA region helped Indian outsourcer HCL increase its FY11 profit 35%

• Data#3 estimates 38% profit growth in FY11

  ICT solutions company Data#3 (ASX:DTL) said its unaudited results show a forecast-beating 38% profit growth for FY11

• UXC merges IT businesses to form UXC Connect

  IT infrastructure and services businesses UXC Connect, Integ and XSI Data Solutions have been merged by parent company UXC Limited and now fall under the UXC Connect brand from July 1.
  

• Stratatel cuts ebitda expectations for FY11

  ICT software and services provider Stratatel (ASX:STE) expects delays winning projects to impact FY11 ebitda, and plans to cool off on its aggressive acquisition strategy for now

• Hyro shareholders signal faith in chairman

  Robert Clarke has been voted back in as Hyro (ASX:HYO) chairman after putting himself up of re-election in a test of shareholders' approval of his turnaround efforts

• UXC on track for $500m IT revenue in FY11

  IT services and consulting company UXC limited (ASX:UXC) said it is on target for $500m in revenue from its IT group in FY11, after earning $237m in the first half

• Oakton forecasts $90m revenue in 2H11

  Oakton (ASX:OKN) expects revenue and adjusted ebitda for 2H11 to be in line with the first half, but said it will accrue higher than expected legal expenses during the period

• Hyro wins $4m deal with wagering firm

  Hyro (ASX:HYO) said it won a $4m contract to provide digital services to interactive wagering technology developer Agility Interactive

• ‘As-a-service’ next generation of outsourcing: Gartner

  The IT services market is being turned on its head, thanks to the rapid uptake of Cloud computing and increased offshoring activities. And CIOs must take action to manage the inherent risks and unexpected costs of moving to Cloud services, according to Gartner.