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Need to Reduce ‘Friction’ in Businesses in India: Narayana Murthy

13Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Need to Reduce ‘Friction’ in Businesses in India: Narayana Murthy

To transform India's economy, there is a need to reduce "friction" in businesses and create an "environment" wherein the government has more trust in its entrepreneurs, Infosys founder N R Narayana Murthy has said. For the transformation of the Indian economy, he said it is essential for the younger generation to be daring and that India is integrated with the global economy. "We still have a little bit of work in reducing friction to businesses. We need to create an environment where the government has more trust in its entrepreneurs than it is today," Murthy, 70, told students of the prestigious Darden School of Business at the University of Virginia here. Murthy, the recipient of the 2017 Thomas Jefferson Foundation medal in Global Innovation, was responding to Darden School of...

12Apr By PriyankaNo Comments

ACQUISITION

Wipro Completes InfoSERVER Acquisition

Tech major Wipro today said it has completed the acquisition of Brazilian IT service provider InfoSERVER. The impact of the buyout will reflect in the financials of the company for the June quarter, it added. "We would like to inform that the acquisition of InfoSERVER has been completed on April 10, 2017. The impact of InfoSERVER acquisition is expected to reflect in the financials of the company for the quarter ending June 30, 2017," Wipro said in a BSE filing. In January this year, Wipro signed an agreement to acquire InfoSERVER, an IT service provider focused on the Brazilian market for USD 8.7 million. Wipro had then stated that InfoSERVER, which counts some of the largest Brazilian banks as its clients, will help it in expanding presence in that country's highly traditional a...

Infosys Denied Any Partiality in COO Salary Increment, Released its Statement

4Apr By AdityaNo Comments

News

Infosys Denied Any Partiality in COO Salary Increment, Released its Statement

Bangalore – April 3, 2017: Infosys has the responsibility to attract and retain top quality talent to be effective in the transformation journey that the company has embarked upon. In this context, the company undertook a comprehensive survey of best practices and benchmarked senior management compensation with key Indian and global companies. The compensation structure revised thereafter reduces the proportion of cash component in the total compensation and has introduced higher stock incentives (to be vested over a 4-year period); it was rolled out for the entire senior leadership including Mr. Pravin Rao, Chief Operating Officer. The details were disclosed in the stock exchange filings on October 14, 2016. Mr. Pravin Rao's compensation revision reflects the philosophy of aligning the...

Axel & Boris from Germany – The First Yessspreneurs Ready To Conquering the Indian market

1Apr By AnkitaNo Comments

Story

Axel & Boris from Germany – The First Yessspreneurs Ready To Conquering the Indian market

Born and raised in Germany, Axel & Boris grew up together and started their first IT company together in 1997 and were since then involved in technology and energy projects. They also creators of the Yesss Spirit, a powerful way to be energetic and positive every day - doesn't matter what's going on in life. Axel & Boris consider themselves as explorers, seeking for amazing people, new innovative ideas and discoveries worldwide. They founded Yesss CAPITAL to invest in technology, energy, and entertainment startups from India & Europe. Yesss CAPITAL was born out of their passion for innovations and the recognition that synergies do exist between diverse sectors, companies, & humans, and their growth can be greatly enhanced if their efforts are synchronized. The strate...

Google India Inks MoU with Telangana Government

6Mar By Press Trust of IndiaNo Comments

News

Google India Inks MoU with Telangana Government

Google India and Telangana government have signed a Memorandum of Understanding (MoU) aimed at supporting the digitisation efforts of the state. Google India will provide Google Cloud credits and access to all cloud platform products to eligible startups engaged with Telangana government's T-Hub initiative and through its Developer Relations team provide technical mentorship and advisory support to various startups, a release issued by the government said here today. The MoU was signed yesterday in the presence of Telangana Minister for IT and Industries K T Rama Rao and Google India representatives, it said. Other initiatives as a part of the agreement include, making all government websites mobile friendly and introduce programmes to help local small and medium businesses go online a...

San Francisco University Lays Off Its IT Workers, Outsourced Their Work To India

1Mar By reutersNo Comments

News, USA

San Francisco University Lays Off Its IT Workers, Outsourced Their Work To India

San Francisco: The University of California, San Francisco on Tuesday laid off 49 information technology (IT) employees and outsourced their work to a company based in India, ending a year-long process that has brought the public university under fire. The university announced the plan last July as a way to save $30 million over five years. The University of California system, which includes health care and research-focused UCSF, has been struggling to raise revenue and cut expenses. Globalization and outsourcing have become hot-button political issues in the United States, as more employers cut costs by farming out work to low-cost workers in far-flung parts of the world. President Donald Trump campaigned on promises to restore lost U.S. jobs and to penalize companies that move fact...

Flipkart CEO Binny Bansal and Microsoft CEO Satya Nadella Announce Key Partnership to Expand E-commerce in India

22Feb By NitishNo Comments

BUSINESS

Flipkart CEO Binny Bansal and Microsoft CEO Satya Nadella Announce Key Partnership to Expand E-commerce in India

Microsoft and Flipkart, India’s leading marketplace, announced a strategic partnership to provide consumers in India with the best online shopping service. As a first step in the broad collaboration between the two companies, Flipkart will adopt Microsoft Azure as its exclusive public cloud platform. Microsoft CEO Satya Nadella and Flipkart Group CEO Binny Bansal announced the news today at an event in Bengaluru. “At Microsoft, we aim to empower every Indian and every Indian organization with technology and key to this is forging strategic partnerships with innovative companies like Flipkart,” said Satya Nadella, CEO, Microsoft. “Combining Microsoft’s cloud platform and AI capabilities with Flipkart’s existing services and data assets, will enable Flipkart to acceler...

Media Talk on Infy Corporate Governance Issues Distracting: Vishal Sikka

13Feb By reutersNo Comments

Entrepreneurs Talk

Media Talk on Infy Corporate Governance Issues Distracting: Vishal Sikka

Infosys Chief Executive Vishal Sikka said talk in media on corporate governance issues at the software services firm was "distracting" and that he had good relations with the firm's founders, including N.R. Narayana Murthy. India's second biggest IT services company, based in the tech hub of Bengaluru, has recently been in an escalating public spat with its founders and former executives, who have accused its board of lapses in corporate governance. "All this drama that has been going on in the media, it's very distracting - it takes away attention - but underneath that there is a very strong fabric that this company is based on and it is a real privilege for me to be its leader," Sikka said in response to a question at the Kotak Institutional Equities conference in Mumbai on Monday....

4Feb By PriyankaNo Comments

ACQUISITION

YASH Technologies Announces Acquisition of the Data Sciences and Analytics Arm of a Hyderabad Based IT Services Company

YASH Technologies, a leading technology services and outsourcing partner for global companies, today announced the acquisition of the Data Sciences and Analytics Arm of a Hyderabad based IT Services Company. This acquisition, while bolstering YASH’s IP footprint would add to the rich talent of Data scientists in the organization. “The acquisition strengthens YASH’s position in providing cutting edge advanced analytics, artificial intelligence, machine learning, augmented reality and Blockchain solutions and services,” said Bala Navuluri, COO, YASH Technologies. He added, “It will enable us to harness these capabilities and platforms to support our customer’s digital transformation journey.” YASH would develop and enhance the Business Process modeling framework, Transformation Platfor...

HCL Infosystems Posts Revenue of Rs. 765 Crore in Q3 FY17

1Feb By NitishNo Comments

BUSINESS

HCL Infosystems Posts Revenue of Rs. 765 Crore in Q3 FY17

New Delhi, Delhi, India- Consumer Business readies for Multi-Brand Telecom Distribution Enterprise focus continues for growth and profitability with Services geared for robust traction Quarter Highlights Overall Revenue of Rs. 765 Crore in Q3 Enterprise Business continues to grow with revenue of Rs. 490 Crore in Q3 (+5% YoY) on the back of strong order book growth Progress made towards project completion and receivables in the System Integration (SI) business with a collection of Rs. 200 Crore from a major Defence Project Consolidated Profit / (Loss) before Tax at Rs. (65.8) Cr in Q3 HCL Infosystems, one of India’s premier IT Services, Distribution and Digital Solutions Company, today announced its financial results for the third quarter ended December 31, 2016....

Microsoft’s Market Value Tops $500 Billion Again after 17 years

28Jan By NitishNo Comments

News

Microsoft’s Market Value Tops $500 Billion Again after 17 years

Microsoft Corp's market capitalization topped $500 billion for the first time since 2000 on Friday, after the technology giant's stock rose following another quarter of results that beat Wall Street's expectations. Shares of the world's biggest software company rose as much as 2.1 percent to $65.64, an all-time high, in early trading, valuing the company at $510.37 billion. The last time Microsoft was valued more was in March 2000, during the heyday of the dotcom era, when it had a market value of a little above $550 billion, according to Thomson Reuters data. Despite the gains, Microsoft still lags Apple Inc's market capitalization of about $642 billion and Google-parent Alphabet Inc's market value of a little more than $570 billion. Microsoft reported second-quarter results o...

TK Kurien named Managing Partner & CIO of Premji Invest

27Jan By AnkitaNo Comments

News

TK Kurien named Managing Partner & CIO of Premji Invest

Premji Invest, the investment arm of Wipro Chairman Azim Premji, on Thursday said it has appointed TK Kurien as its Managing Partner and Chief Investment Officer (CIO) with effect from February 1. Kurien is Wipro's Executive Vice-Chairman and is set to retire from that post at the end of this month. He succeeds Prakash Parthasarathy who has decided to pursue his entrepreneurial aspirations, a release said. "I am delighted to announce the appointment of TK Kurien as Managing Partner and CIO of Premji Invest," Premji Invest Chairman Azim Premji said. "TK, with his decades of experience in running startups and established enterprises and deep financial acumen, is best positioned to take Premji Invest to the next level." "Prakash has built an excellent organisation at Premji Invest as...