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Volvo Group Invests in Autonomous Mobility Software Apex.AI

9Dec By PriyankaNo Comments

FUNDING

Volvo Group Invests in Autonomous Mobility Software Apex.AI

Volvo Group Venture Capital AB has invested in Apex.AI, a leading software company in autonomous mobility. The investment will fund the development of a safety-certified software framework for autonomous systems. Apex.AI, a Palo Alto, California-based company founded in 2017, is building an automotive-grade version of ROS (Robot Operating System), an established open source software framework commonly used in robotics and autonomous systems research. By providing a safer and more reliable version of ROS that will be certified according to the functional safety standard ISO 26262, Apex.AI enables companies to take their autonomous vehicle projects into production. “We are excited to invest in a company that enables easier development of safety-certified systems,” says Anna Westerber...

Microsoft Says Working 4 days in a Week Increases Productivity

5Nov By AdityaNo Comments

News

Microsoft Says Working 4 days in a Week Increases Productivity

In a country notorious for overwork, Microsoft Japan trialled a radical idea 'working less'. And it found that four-day weeks and other reforms both boosted sales and cut costs. The Japanese unit of the US IT giant closed its offices every Friday in August, giving all 2,300 full-time workers special leave. It also restricted meetings to a maximum of 30 minutes and encouraged online chats as an alternative to face-to-face communications. The number of participants at meetings was limited to five, and workers were also encouraged to use online communication instead of emails, it said. The results were positive, with sales per employee rising almost 40 per cent in August from a year earlier, electricity consumption down by a quarter and paper usage being cut in half. The firm ...

Bitcoin.com Acquires Blockchain Startup O3 Labs

23Oct By PriyankaNo Comments

ACQUISITION

Bitcoin.com Acquires Blockchain Startup O3 Labs

JAPAN, TOKYO, October 23, 2019 — Bitcoin.com has acquires blockchain startup O3 Labs. The Tokyo-based software company that specializes in developing gateways to the digital economy. O3 Labs team join Bitcoin.com, forming a single team dedicated to creating tools for realizing the full potential of the Bitcoin Cash network. The two companies intend to work together to build the next generation of mobile financial services, which will bear the Bitcoin.com name. The strategic acquisition of O3’s blockchain and app development talent will allow Bitcoin.com to create intuitive and easy-to-understand user experiences that tie together Bitcoin.com, partners, and community financial service offerings across web, mobile, smart devices, and beyond. Stefan Rust, CEO of Bitcoin.com sai...

19Oct By AdityaNo Comments

News

Oracle CEO Mark Hurd has died

California, 19th Oct 2019-- Oracle CEO and former CEO of HP Mark Hurd has died at 62. Oracle confirmed his death on Friday. Hurd was on medical leave from one month, which Oracle announced in September. During his career, Hurd ran both Oracle and computer and printer maker Hewlett-Packard. Hurd joined Oracle as a co-president in 2010 a month after leaving HP. He resigned from HP following accusations of sexual harassment by a female contract worker. In that pre-#MeToo era, Hurd's departure from HP was a significant Silicon Valley drama. An investigation found while Hurd didn't violate sexual harassment policies, he submitted inaccurate expense reports connected to outings with his accuser. Hurd said he didn't try to conceal his dinners with the contractor after events she helped ...

18Oct By AdityaNo Comments

FUNDING

Ekos Raises $8 Million Series A Funding

CHARLOTTE, N.C.-- Ekos, the leader in business management software for independent craft beverage companies has secured an $8 million Series A investment round. This Series A is the first outside investment into Ekos, which has been self-financed to date, and represents one of the Charlotte area’s largest Series A investments in recent history. This funding round is being led by Noro-Moseley Partners, an Atlanta-based venture capital firm that invests in early growth information technology and healthcare businesses with rapidly scaling revenue, a capital-efficient model and a clear pathway to profitability. Alan Taetle, General Partner, and John Ale, Principal, from Noro-Moseley Partners will join the Ekos board of directors. Ekos partners with more than 1,700 craft produce...

10Oct By NitishNo Comments

ACQUISITION

Infosys Acquihire Irish Firm Eishtec

Indian IT firm Infosys has entered into a strategic partnership with Eishtec under which 1,400 employees of the Irish firm will be transferred to Infosys BPM. "Infosys has entered into a strategic partnership with Eishtec, which includes the transfer of Eishtec's business to Infosys BPM, an Infosys company. This partnership does not entail the purchase of any equity," Infosys said in a regulatory filing. The partnership will enable Infosys to better serve its clients in the region, leveraging its deep expertise in technology, analytics, and digital, the statement added. Eishtec was established in 2011 and is one of Ireland's leading customer service providers and employs 1,400 people across Ireland. "The current management team of Eishtec will continue with the leadership of t...

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 Softwa...

Capgemini will Acquire Altran Technologies For $4.1 billion

26Jun By PriyankaNo Comments

ACQUISITION

Capgemini will Acquire Altran Technologies For $4.1 billion

Paris and Neuilly-sur-Seine, June 24, 2019 – World's leading IT consulting company Capgemini have entered into an agreement whereby Capgemini is to acquire Altran for $4.1 billion (€3.6 billion) excluding net financial debt of €1.4 billion The acquisition is approved by the Boards of Directors of Capgemini and Altran. Capgemini has also acquire 11% shares of Altran capital from a group of shareholders led by Apax Partners. Paul Hermelin, Chairman and Chief Executive Officer of the Capgemini Group, said, “This proposed combination enables Capgemini to take the lead in a very promising market segment what we call ‘Intelligent Industry’ or the digital transformation of industrial and tech companies. By joining forces, we are positioning ourselves as a clear strategic partner to assist ...

Litify Raises $50 Million From Tiger Global

8Jun By NitishNo Comments

FUNDING

Litify Raises $50 Million From Tiger Global

NEW YORK, June 8, 2019-- Litify, a software platform that empowers law firms to better service their clients and grow their business, announced today a Series A investment of $50 million by Tiger Global Management & others. The financing will be used to fund Litify's continued growth and general operations, with a focus on expanding its offerings to a broader customer base, including in-house counsel, a corporate law offering for mid-to-large size firms, and an off-the-shelf solution for smaller-sized law firms. "Tiger Global's investment will allow us to continue growing and to partner with more law firms across the globe and further enhance the customer experience. We're thrilled to have the backing and confidence of a premier tech investment firm with such a proven track rec...

Cyient invests in rail cyber security company Cylus

7Jun By PriyankaNo Comments

FUNDING

Cyient invests in rail cyber security company Cylus

IT firm Cyient has invested in Israel-based Cylus, which provides cybersecurity solutions for the rail industry. "This investment is in line with the company's focus on developing smarter and safer mobility solutions for the rail industry. It brings together Cyient's leadership position in engineering solutions for rail and focus on digitalisation, with Cylus' cybersecurity solutions developed specifically for the rail industry," Cyient said in a statement. The company, however, did not disclose the size of the investment. Cylus has developed CylusOne a cyber security software product that is designed for mainline and urban rail systems. The solution detects cyber threats in signaling and control networks, both trackside and onboard, facilitating a timely and effective response. ...

Rewind: How Satyam Scam in 2009 affects Indian Software Industry

3Jun By AnkitaNo Comments

Story

Rewind: How Satyam Scam in 2009 affects Indian Software Industry

The Satyam Computer accounting scam, slowdown and resultant hiring freeze by many made 2009 a forgettable year for the Indian Information Technology industry. There was never a dull moment for bad news during the year, given the fact that Satyam's founder B Ramalinga Raju came out of the closet with an accounting fraud on January 7. The scam tarnished the credibility of India's IT story, requiring others to do a lot of convincing to retain clients. As dramatic it was, the World Bank, within a week of the Satyam scam coming to light, announced it had banned, besides Satyam, Wipro, and Megasoft from working for it for allegedly "providing improper benefits to the Bank staff" during the course of their projects with it. While the cases ...

L&T acquire 24.9 lakh shares of Mindtree, shareholding now up to 28.45%

26May By AnkitaNo Comments

Market

L&T acquire 24.9 lakh shares of Mindtree, shareholding now up to 28.45%

NEW DELHI: Infrastructure major Larsen and Toubro (L&T) acquired over 24.9 lakh shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.45 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 24,99,619 equity shares (with a face value of ₹10 each) of Mindtree Ltd on May 24, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.45 per cent. The latest stock purchase was made at ₹980 a piece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about ₹3,210 crore, and has since topped that up with share purchases from open market. On Thursday, L&T had...