Software | Pixr8 News

21Oct By AdityaNo Comments

Market

Datto Raises $594 Million in its IPO

NORWALK, Conn., 21st Oct 2020-- Datto Holding Corp (NYSE: MSP) the leading global provider of cloud-based software and technology solutions purpose-built for delivery by managed service providers announced the pricing of its initial public offering of 22 million shares of its common stock at a price to the public of $27 per share. The underwriters have the option to purchase up to an additional 33 million shares of common stock from Datto at the initial public offering price, less underwriting discounts and commissions. The shares start trading today on NYSE under the ticker symbol “MSP” raised $594 million in an initial public offering. The offering is expected to close on October 23, 2020, subject to customary closing conditions. Datto will receive net proceeds of approximately...

Microsoft makes Work from Home permanent for some Staff

13Oct By AdityaNo Comments

News

Microsoft makes Work from Home permanent for some Staff

Houston, Oct 13th, 2020: Tech company Microsoft has decided to expand its work-from-home policy and make it permanent for some workers. The company has released the new "hybrid workplace" guidance that lays out how employees can have a more flexible remote work schedule and even relocate elsewhere in the country, while it continues to adjust to changing needs during the ongoing pandemic. Microsoft will allow employees to work from home freely for less than 50 per cent of their working week, and managers will be able to approve permanent remote work. "We will offer as much flexibility as possible to support individual work styles, while balancing business needs, and ensuring we live our culture," Kathleen Hogan, Microsoft''s chief people officer, said in a post on the official Micr...

26Aug By AdityaNo Comments

News

Accenture Plan to Reduce 5% Workforce

New York, 26th Aug 2020: Thousands of roles at Accenture could be impacted as the global IT services company is looking to reduce at least 5 percent of its global workforce. Accenture has a global workforce of around 5.13 lakh people, in which about 2 lakh are from India. The workforce reduction might have an impact on its Indian operations. In a statement, Accenture said, "it was not planning extraordinary global workforce actions at this time but every year, as part of our performance process, we have conversations with our people about how they are performing, areas for improvement, their potential to progress, and whether they are a long term fit for Accenture." "This year, across all parts of our business and all career levels, we will identify approximately five percent of o...

Thierry Delaporte becomes new Wipro CEO and MD

29May By PriyankaNo Comments

News

Thierry Delaporte becomes new Wipro CEO and MD

IT services major Wipro has appointed Capgemini Group veteran Thierry Delaporte as its Chief Executive Officer and Managing Director, effective July 6, 2020. In January this year, the company had said its CEO and Managing Director Abidali Z Neemuchwala had decided to step down from the company. Abidali Neemuchwala will relinquish his position as CEO and MD on June 1. Rishad Premji will oversee the day-to-day operations of the company until July 5, Wipro said in a statement. "Until recently, Thierry Delaporte was the Chief Operating Officer of Capgemini Group and a member of its group executive board. During his 25 year career with Capgemini, he held several leadership roles," it said. He also oversaw Capgemini's India operations, and led the group's transformation agenda, c...

Trump admin working to temporarily ban work-based Visas

9May By AdityaNo Comments

USA

Trump admin working to temporarily ban work-based Visas

The US is working to temporarily ban the issuance of some work-based visas like H-1B, popular among highly-skilled IT professionals, as well as students visas and work authorization that accompanies them, amidst the high level of unemployment due to the coronavirus, according to a media report on Friday. The H-1B is a non-immigrant visa that allows US companies to employ foreign workers from countries like India and China in specialty occupations that require theoretical or technical expertise. Nearly 500,000 migrant workers are employed in the US in the H-1B status. "The president's immigration advisers are drawing up plans for a coming executive order, expected this month, that would ban the issuance of some new temporary, work-based visas," The Wall Street Journal reported Frid...

15Apr By AnkitaNo Comments

FUNDING

FarEye raises USD 25 mn funding, to accelerate growth in US, Europe

Logistics software company FarEye raises USD 25 million (around Rs 190 crore) in funding led by Microsoft's venture fund M12, with participation from Eight Roads Ventures and Honeywell Ventures. Existing investor SAIF Partners also participated in the series D round. The company, which has raised USD 40 million till date, did not disclose the valuation at which the latest funds were raised. "We will use the funds to further invest in enhancing predictive capabilities of our platform as well as accelerating growth in Europe, the US and the Asia Pacific," FarEye co-founder and CEO Kushal Nahata told Pixr8 News. Founded in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye's logistics platform enables enterprises to operate, track, and optimize their logistics operatio...

14Mar By AnkitaNo Comments

News

Bill Gates Leaves Microsoft Board

Microsoft announced that co-founder Bill Gates has left its board of directors to devote more time to philanthropy. The 64-year-old stopped being involved in day-to-day operations at the firm more than a decade ago, turning his attention to the foundation he launched with his wife, Melinda. Gates served as chairman of Microsoft's board of directors until early in 2014 and has now stepped away entirely, according to the Redmond-based technology giant. "It's been a tremendous honor and privilege to have worked with and learned from Bill over the years," Microsoft chief executive and company veteran Satya Nadella said in a release. "Bill founded our company with a belief in the democratizing force of software and a passion to solve society's most pressing challenges, and Microsoft...

27Feb By PriyankaNo Comments

FUNDING

Hasura raises USD 9.9 mn funding from Vertex Ventures US & Others

Tech firm Hasura has raised USD 9.9 million (about Rs 70 crore) in funding, led by Vertex Ventures US. The series A round also saw participation from SAP.iO Fund, the early-stage venture arm of SAP, existing investors Nexus Venture Partners and Strive VC, a statement said. Several angels like James Tamplin (founder of Firebase), Sam Lambert (VP of Infrastructure Engineering at GitHub), Amod Malvia (co-founder of Udaan, ex CTO Flipkart), and Michael Stoppelman (ex-SVP of Engineering at Yelp) also participated, it added. Hasura is a San Francisco based privately held software technology company that builds developer tooling products, including open source tools, backend as a service (BaaS) and platform as a service (PaaS) products. The company provides data access and data flow ...

Tech Mahindra to Acquire Zen3 Infosolutions for $64 Million

24Feb By AdityaNo Comments

ACQUISITION

Tech Mahindra to Acquire Zen3 Infosolutions for $64 Million

Indian IT company Tech Mahindra has signed an agreement to acquire 100 percent stake in US-based Zen3 Infosolutions for USD 64 million in an all-cash deal. Headquartered in Seattle, Zen 3 has over 1,300 employees spread across offices in Seattle, Dublin, Hyderabad, Vishakhapatnam, and Bengaluru. "The acquisition of Zen3 Infosolutions is in line with our strategy to build new capabilities. It has expertise in artificial intelligence, machine learning, annotations, cloud engineering etc which are high growth area," Vivek Agrawal- Global Head, Enterprise Business and Portfolio Companies, Tech Mahindra said. Tech Mahindra will acquire 100 per cent stake in the company for USD 64 million or about Rs 460 crore out of which USD 42 million or about Rs 300 crore will be paid at closing and...

Wipro Acquires Washington based Rational Interaction

21Feb By AdityaNo Comments

ACQUISITION

Wipro Acquires Washington based Rational Interaction

Wipro Digital, the digital business unit of IT major Wipro has acquired digital customer experience (CX) firm Rational Interaction. Wipro Digital didn't disclose the acquisition amount. Founded in 2009, Rational Interaction is headquartered in Washington and has over 300 employees. It has offices in Seattle, Bellevue, Dublin, and Sydney. "The acquisition will scale Wipro Digital's offering for Chief Marketing Officers (CMO), connecting Rational Interaction's ability to map and orchestrate the customer journey with Wipro Digital's ability to design and build experiences at global scale," a statement said. Together, the companies will provide bespoke and effective solutions for the marketing suite, it added. Rational Interaction helps brands create sustained CX program success...

Platinum Equity Acquires Cision Ltd for $2.7 Billion

1Feb By AnkitaNo Comments

ACQUISITION

Platinum Equity Acquires Cision Ltd for $2.7 Billion

CHICAGO, Jan. 31, 2020 -- Cision Ltd., a leading global provider of software and services to public relations and marketing communications professionals acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.7 billion. "Cision is well established as the industry standard platform for communications professionals navigating an increasingly complex environment," said Platinum Equity Chairman and CEO Tom Gores. "This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources and M&A support to help the company maximize its potential." As of January 31, 2020, Cision is a privately held company. Cision shares ceased trading on the New York Stock...

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...