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Infosys Invests 31.6 crores in Stellaris Venture Partners

24Nov By PriyankaNo Comments

FUNDING

Infosys Invests 31.6 crores in Stellaris Venture Partners

Infosys, a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has signed a definitive agreement to a Limited Partner investment of INR 31.6 crores from its Innovation Fund in Stellaris Venture Partners, an India-based early stage venture fund. This investment is towards the first close of Stellaris’ fund. India’s startup ecosystem is witnessing rapid growth led by areas such as cloud computing, Internet of Things (IoT), artificial intelligence and big data, as well as the widespread proliferation of smartphones. In this environment, Stellaris aims to back entrepreneurs building applications for global businesses, Indian SMBs and consumers in verticals such as financial services, retail, healthcare and education. Stellaris’ inves...

4Nov By NitishNo Comments

ACQUISITION

NTT DATA Closes Acquisition of Dell Services

NTT DATA, Inc. today announced its acquisition of Dell Services has closed, expanding the company’s brand and IT services leadership globally. The newly acquired business, which on an interim basis will be called NTT DATA Services, expands NTT DATA’s ability to deliver insights, solutions and outcomes that lead to tangible business results for clients. “Welcoming Dell Services into NTT DATA is a milestone acquisition in our effort to partner with clients as they navigate the digital disruptions in today’s markets,” said Toshio Iwamoto, president and CEO of NTT DATA Corporation. “As a top 10 global business and technology services provider, we have been aggressively expanding our international business, boldly pursuing growth as a ‘Global IT Innovator.’ The acquisition of Dell Service...

Tata Sons Remove Cyrus Mistry as Chairman, Ratan Tata Steps in

24Oct By Press Trust of IndiaNo Comments

News

Tata Sons Remove Cyrus Mistry as Chairman, Ratan Tata Steps in

In a major shakeup, Tata Sons has removed Cyrus Mistry from the post of Chairman. The decision was taken at athe board meeting held in Mumbai on Monday. Ratan Tata will be the interim Chairman, the board announced in a statement. A search committee has been set up to find a successor. 'The Committee comprises Mr. Ratan N. Tata, Mr. Venu Srinivasan, Mr. Amit Chandra, Mr. Ronen Sen and Lord Kumar Bhattacharyya, as per the criteria in the Articles of Association of Tata Sons,' the statement said, adding that the committee has been given four months to complete the process. CEOs at the operating company level have not been touched in the rejig.

23Oct By PriyankaNo Comments

FUNDING

Skills Alpha a Digital Learning Platform Raises $450K Angel Funding

Mumbai-based Skills Alpha is one of the newest start-ups in the entrepreneurial ecosystem which helps the corporate employees to learn and develop their skills has raised $450K in Angel funding round from Mr. Ganesh Natarajan. Ganesh Natarajan an IT veteran and former CEO of Zensar Technologies has a stake of 60-65% in the company. The company which was founded in 2016 and run by Jaideep Kewalramani CEO of Skills Alpha, offers a dashboard where employees can see where they stand in their career and what they need to do if they want to climb up the skills levels. Skills Alpha provides three-dimensional skills through bite-sized content and curated learning path. Jaideep Kewalramani ,CEO,Skills Alpha said, "The whole premise of Skills Alpha is how we start by infusing aspiration an...

HCL Tech CEO Anant Gupta Quits, C Vijayakumar to Succeed

21Oct By NitishNo Comments

News

HCL Tech CEO Anant Gupta Quits, C Vijayakumar to Succeed

IT services major HCL Technologies today said its Chief Executive Officer Anant Gupta has put in his papers, following which the company has elevated current Chief Operating Officer C Vijayakumar to the post. "Anant Gupta has decided to leave the company to pursue personal interests outside of HCL," it said in a statement. It added that the company was elevating C Vijayakumar as the President and CEO of the company with immediate effect. "Vijay has been a transformational leader in the company leading from the front. His vision and flawless execution trackrecord best positions him for taking our journey forward," HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said. To increase momentum of the companys next generation services, Vijayakumar will further accelerat...

Wipro Secretly Acquired a US Based Cloud Service Company Appirio

21Oct By PriyankaNo Comments

ACQUISITION

Wipro Secretly Acquired a US Based Cloud Service Company Appirio

Wipro Limited, India's leading information technology, consulting and business process services company announced that it has signed a definitive agreement to acquired Appirio, for USD 500 Million. Established in 2006, Appirio, a global cloud services company that creates next generation worker and customer experiences. Appirio is headquartered in Indianapolis with offices in San Francisco, Dublin, London, Jaipur, and Tokyo and has 1250 employees worldwide. The US based company is a trusted partner to some of the world’s leading brands, including Stryker, Robert Half, Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home Depot, and Sony PlayStation. Once completed, Wipro’s acquisition of Appirio will create one of the world’s largest cloud transformation practices, a game...

TCS is Leader in Software Testing Services: Report

9Sep By AnkitaNo Comments

ANALYSIS

TCS is Leader in Software Testing Services: Report

Indias IT major Tata Consultancy Services (TCS) has been recognised as a leader among 24 companies in all categories of software testing services, according to a research-based report. The NelsonHall Vendor Evaluation and Assessment (NEAT) report 2016, analysed and indicated the overall performance of leading global vendors offering software testing services. NelsonHall evaluated 24 companies for NEAT based on various parameters. TCS was recognised as a leader in all the categories, namely Overall, Efficiency, Consulting, Transformation and Digital Focus. In the NEAT profile, TCS was acknowledged for its strong progress in go-to-market strategy, comprehensive testing service portfolio and a solid positioning in digital and mobile testing. TCS leadership in platform-based ser...

Google to Buy Software Developer Apigee in $625 Million Deal

8Sep By reutersNo Comments

ACQUISITION

Google to Buy Software Developer Apigee in $625 Million Deal

Alphabet Inc's Google is acquiring software developer Apigee Corp in a deal valued at about $625 million, as it strengthens its cloud business. San Jose-based Apigee's software helps a company's backend services interact with mobile and web-based apps used by customers and partners. "Companies are moving beyond the traditional ways of communicating like phone calls and visits and instead are communicating programmatically through APIs (Application Programming Interface)," said Dianne Greene, who runs Google's cloud computing division. Google will pay Apigee shareholders $17.40 for each share held, a 6.5 percent premium to the stock's Wednesday close. Apigee's shares were trading above the offer price at $17.45 on Thursday morning. This is the latest from the highly regarded ente...

Just Jobs Launches a Unique Job Portal Designed for Blue Collar Sector

8Sep By AnkitaNo Comments

News

Just Jobs Launches a Unique Job Portal Designed for Blue Collar Sector

Just Jobs is on a mission to empower the unserved informal sector of India by connecting skill with opportunity. Just Jobs is excited to announce the launch of its one-of-a-kind, fully-featured job portal, Just.Jobs, exclusively designed for entry-level jobs sector. Just Jobs is an innovative staffing startup that connects blue collar job seekers with employers from both households and small-to-medium sized businesses offering job opportunities. Just Jobs, India's most economical, reliable and completely ad-free online job board for blue collar jobs, is in line with the Indian Government's vision of 'Digital India', 'Skill India' and 'Make in India' ventures. It is committed to serve as a neutral facilitator to empower employers and the job seekers connect easily to meet their respective...

Indias IT Exports Revenue Growth Will 9-10% This Fiscal: T V Mohandas Pai

6Sep By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Indias IT Exports Revenue Growth Will 9-10% This Fiscal: T V Mohandas Pai

The revenue growth of Indian IT exports this fiscal is likely to be slower than industry body Nasscoms projection of 10-12 per cent, according to industry veteran T V Mohandas Pai. "The figures could be lower than what Nasscom has said. But its still (expected to) be good figures. They forecast 10 to 12 per cent, I would say 9 to 10 per cent is something that could be more reasonable because we already have seen in the first quarter some companies not meeting numbers...second quarter, some companies going quiet. So, 9 to 10 per cent is reasonable," the former Board member at Infosys said. A clear picture would emerge after companies announce results for the September quarter, which is generally good for them. "Europe is beginning to look better. Brexit has hurt the UK. America... we h...

IT Minister Ravi Shankar Prasad Faces Flak Over Twitter To Rope in Pvt Cloud Firms

6Sep By AdityaNo Comments

INDIA

IT Minister Ravi Shankar Prasad Faces Flak Over Twitter To Rope in Pvt Cloud Firms

IT Ministry reported plan to rope in private companies like Microsoft and IBM for providing cloud computing services to government departments has come under flak from cyber security experts. "I think by using cloud services of foreign companies like Microsoft and IBM, IT Ministry has decided to throw all Data and National Security concerns into a dustbin. What has happened to the National Cloud Project of government? We appeal the Prime Minister to intervene and stop this else this will send a wrong message," Indian Infosec Consortium (IIC) CEO Jiten Jain said. IIC is Indias cyber security group which has around 4,000 members. "If the worlds software super power (India) does not have the capacity to even build its own Indigenous cloud infrastructure then where is Make in India," Jain s...

GST is Challenge For IT Industry Because of Multiple Taxes : Nasscom

4Aug By NitishNo Comments

News

GST is Challenge For IT Industry Because of Multiple Taxes : Nasscom

The GST regime would streamline the taxation system and make it much more transparent, but would also create multiple taxation points, which will be a "challenge" for the IT industry, Nasscom said today. Nasscom President R Chandrasekhar said the concerns regarding multiple taxation points have been brought to the notice of the government and it expects a positive response while framing the GST law. "IT services are intangible. The way things are looked at in the GST law, not the Constitution amendment, there we have a number of concerns which have been shared with the government. "We feel that today for IT services, it is a simple regime. One single point of taxation which is central service tax, one single point of registration, one single invoice, one single place where you hav...