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IBM to Acquire SAP Consulting Partner TruQua

16Nov By PriyankaNo Comments

ACQUISITION

IBM to Acquire SAP Consulting Partner TruQua

ARMONK, N.Y., Nov. 16, 2020-- Global IT firm IBM acquire TruQua Enterprises, an IT services and consulting SAP development partner. TruQua specializes in delivering finance and analytics solutions to Fortune 500 companies. This acquisition shift IBM strategy from legacy enterprise systems and siloed processes to cloud-based integrated and streamlined finance functions such as cash flow, budgeting, and consolidations is critical in today's rapidly evolving marketplace. TruQua will enable IBM to broaden its consulting expertise and capabilities to help clients implement SAP solutions that will improve and automate financial management workflows, enhance operational efficiency, and, ultimately, drive an enterprise-wide transformation through the adoption of SAP S/4HANA, the latest ge...

IBM acquires cloud cybersecurity management company Spanugo

16Jun By NitishNo Comments

ACQUISITION

IBM acquires cloud cybersecurity management company Spanugo

ARMONK, N.Y., June 15, 2020-- IT major IBM acquire Spanugo, a US-based provider of cloud cybersecurity posture management solutions. To further meet the security demands of its clients in highly regulated industries, IBM will integrate Spanugo software into its public cloud. Late last year, IBM announced it designed the world's first financial services public cloud to help address the requirements of financial services institutions for regulatory compliance, security and resiliency. Once available, it will provide preventative and compensatory controls for financial services regulatory workloads, multi-architecture support and proactive and automated security, leveraging the industry's highest levels of encryption certification. The addition of Spanugo software will help accele...

Indian Origin Arvind Krishna elected IBM CEO

31Jan By AnkitaNo Comments

News

Indian Origin Arvind Krishna elected IBM CEO

Indian-origin technology executive Arvind Krishna has been elected Chief Executive Officer (CEO) of American IT giant IBM after a “world-class succession process,” succeeding Virginia Rometty, who described him as the “right CEO for the next era at IBM and well-positioned” to lead the company into the cloud and cognitive era. The IBM Board of Directors elected Krishna as company CEO and member of the Board of Directors effective April 6. Krishna is currently IBM Senior Vice President for Cloud and Cognitive Software and will succeed Rometty, 62 who will retire after almost 40 years with the company at the end of the year. Krishna, 57, had joined IBM in 1990 and has an undergraduate degree from the Indian Institute of Technology, Kanpur, and a PhD in electrical engineering from the Un...

1Jul By PriyankaNo Comments

ACQUISITION

HCL Tech completes acquisition of IBM Products

HCL Technologies Monday said it has completed the planned acquisition of select IBM products for security, marketing, commerce, and digital solutions. Last year in December, HCL Technologies said it will acquire select IBM software products for USD 1.8 billion (over Rs 12,700 crore) in an all-cash deal. It's expected to close by mid-2019 after completion of applicable regulatory reviews. In a statement, HCL Technologies announced the close of the said acquisition. "As part of the deal's close, HCL takes full ownership of the research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica," the statement said. HCL also said it is formally introducing HCL Softwar...

3May By AdityaNo Comments

INDIA

Indian Telecom company Vodafone-Idea signs multi-million dollar deal with IBM

NEW DELHI: India's largest telecom operator Vodafone Idea Ltd on Friday announced a five-year multi-million-dollar IT outsourcing deal with tech giant IBM. "This engagement will also contribute to Vodafone Idea's merger synergy objectives by reducing its IT related costs," the telecom firm said in a statement. The company did not divulge the size of the deal but some reports pegged it at about $700 million. "The collaboration will provide Vodafone Idea with a hybrid cloud based digital platform to enable more intimate engagement with its over 387 million subscribers (as of 31 December, 2018), enhancing business efficiency, agility and scale plus simplification of its business processes," it said. The new infrastructure platform will remove constraints to the exponential growth ...

IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

30Oct By Gauri SinghNo Comments

News

IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

After the $33 billion acquisition of Red Hat, IBM will take over 1,000 people on board of the acquired company in the world’s second-largest technology deal so far. Along with this, IBM will get clients with high volume transactions that will include Bombay Stock Exchange and National Stock Exchange once the cash deal to acquire Red Hat Inc is completed. “The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” IBM chairman Ginni Rometty said. “IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses,” she said. Red Hat is known for its open culture that has been built by its CEO Jim Whitehurst and imbibed at its offices in India. BSE and N...

29Oct By Gauri SinghNo Comments

ACQUISITION

IBM Made the Largest Software Acquisition for $34 Billion

The multinational IT company IBM has reportedly made the largest software acquisition. The company has acquired US-based software company Red Hat for $34 billion, including debt. The company is expecting to diversify its technology hardware and consulting business into higher-margin products and services. This particular acquisition is by far IBM's biggest acquisition. "The acquisition of Red Hat is a game-changer ... IBM will become the world's No. 1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses," IBM chief executive Ginni Rometty stated. IBM, which has a market capitalization of $114 billion, will pay $190 per share in cash for Red Hat, a 62% premium to Friday's closing share price. IBM, which...

19Jul By Gauri SinghNo Comments

BUSINESS

IBM’s New Businesses Boosted Up the Q2 Revenue & Profit of The Company

IBM (International Business Machines Corp.) recorded a considerable uplift in the revenue and profit for the second quarter marked by a valuable benefit resulting from the growth in higher-margin businesses including cybersecurity and cloud computing. Revenue from these businesses increased by 15% to $10.1 billion in the second quarter, including more than half of the company's total revenue. The overall revenue rose 3.7% from the previous year to $20 billion, beating analysts' average estimate of $19.85 billion. "We've done the work to reposition our company," James Kavanaugh, finance chief said about the focus on the strategic imperatives markets. "We are seeing our investments in these high-value segments of the IT industry now paying off." IBM has been focusing on a range of new t...

Meet The World’s Fastest Supercomputer Launched By IBM

9Jun By Gauri SinghNo Comments

Tech

Meet The World’s Fastest Supercomputer Launched By IBM

The International Business Machines Corporation (IBM) along with the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL) announced the launch of its latest and world’s fastest supercomputer named ‘Summit’. Summit was revealed at Friday at Oak Ridge National Laboratory in Tennessee. The supercomputer highlights a peak performance of tremendous 200,000 trillion calculations per second. That as fast as each of the planet's 7.6 billion people doing 26 million calculations per second on a hand calculator. IBM has declared that ‘Summit’, at present, is the most powerful and intelligent scientific computer in the world. The production and working on the supercomputer has been carried for decades and it seems their efforts have well succeeded. The features of the computer are th...

Apple Shares Reach Record High after Warren Buffet Buys 75Mn Shares

5May By Lavina TolaniNo Comments

Market

Apple Shares Reach Record High after Warren Buffet Buys 75Mn Shares

American multinational conglomerate, Berkshire Hathaway Inc has bought an additional 75 million shares of Apple Inc. in the first quarter while dumping its remaining stake in International Business Machines Corp., Chairman Warren Buffett informed in an interview. Buffet's announcement has come just after Apple had reported its quarterly sales and profit rose higher superseding all analysts estimations in more than two years. The news also did away with fears in Apple shares amidst the concerns that its iPhone flagship was struggling to woe customers in the market. Apple purchase which would otherwise cost between $11 billion and $14 billion, now adds to the almost 170 million shares that Berkshire Hathaway owned at the end of 2017 which was then Buffet's biggest shareholding. The add...

19Mar By AnkitaNo Comments

News

MIT Pune, IBM Unveil Robot Chintu

The students of Maharashtra Institute of Technology (MIT) Pune and technology giant IBM have developed a robot, Chintu, which would assist senior citizens in their everyday tasks. Chintu, under 2ft tall robot, was developed after MIT Pune received a grant of Rs 10 lakh last year from IBM. It is powered by the US-based companys cognitive assistant, IBM Watson. Chintu can move his hands and read books to an audience. "Drawing from Watsons domain knowledge, Chintu will assist senior citizens in conducting everyday tasks such as reading the newspaper/book and generate reminders on their daily medication," Professor and Head of Computer Engineering Department at MIT Pune, Vrushali Kulkarni, told Pixr8. She added that the students have been working on the project for the past few months. Wh...

IBM Names Karan Bajwa as Managing Director of India Operations

4Jan By NitishNo Comments

News

IBM Names Karan Bajwa as Managing Director of India Operations

IBM today announced the appointment of Karan Bajwa as Managing Director of IBM India Pvt. Ltd, succeeding Vanitha Narayana who is appointed as Chairman of IBM India Pvt. Ltd. These leadership announcements further demonstrate IBM’s commitment in the region. Karan joined IBM in 2016 as Executive for Strategy and Transformation in the Asia Pacific region. Prior to this he was the Managing Director, Microsoft India where, besides leading the India business for the company, he also the led the Cloud Transition and the Ecosystem engagement. Prior to that he has served in various roles in Microsoft and Cisco. Karan is not new to IBM, having worked for five years leading IBM’s networking business and based in Singapore from 2001 - 2005. “I am humbled and excited as I take on this role of...