This is the first anniversary issue of Confluence, and we are delighted with the response that this newsletter has generated. The positive feedback and interest in our newsletter inspires us to do better with every issue. Prayag also entered into its third year of operations on September 1 2003,  and we take this opportunity to thank all our clients and well wishers without whose support we could not have come this far.

Infosys Technologies bagged a five-year, $50 million software development and maintenance contract from leading Australian telecom vendor Telstra.

In October 2003, Merrill Lynch plans to roll out a new $1 billion platform built by an all-star team of vendors and one general contractor with an unusual role. If successful, how Merrill managed it all may point the way to the future of IT outsourcing.