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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...

Cisco to Acquire Software Firm Founded By Former IIT Delhi Student For 25000 Crore

26Jan By AdityaNo Comments

ACQUISITION

Cisco to Acquire Software Firm Founded By Former IIT Delhi Student For 25000 Crore

San Francisco-based software company founded by an IIT alumnus will be acquired by American technology giant Cisco for USD 3.7 billion. Jyoti Bansal founded application intelligence software company AppDynamics in 2008 with a vision to "help modern enterprises embark on their journey of digital transformation with a disruptive approach to managing their software applications." Cisco said it will acquire AppDynamics for approximately USD 3.7 billion in cash and assumed equity awards. It said AppDynamics's cloud application and business monitoring platform enabled the world's largest companies to improve application and business performance. "Applications have become the lifeblood of a company's success. Keeping those apps running and performing well has never been more important," sai...

Wipro Acquired Brazil Based IT Services Provider

26Jan By NitishNo Comments

ACQUISITION

Wipro Acquired Brazil Based IT Services Provider

Wipro Ltd. a leading global information technology, consulting and business process services company today signed an agreement to acquire InfoSERVER S.A. for BRL 27.6 Million (USD 8.7Mn). InfoSERVER, an IT services provider, which is focussed on the Brazilian market, provides custom application development and software deployment services. Two-decade old InfoSERVER, which counts some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country’s highly traditional and competitive Banking, Financial Services & Insurance market besides adding invaluable domain and process knowledge on the sector. This acquisition closely aligns with Wipro’s vision to localise, expand its presence and become a significant partner of choice in the LATAM ma...

Wipro Limited Announce Retirement of Executive Vice Chairman TK Kurien

25Jan By NitishNo Comments

News

Wipro Limited Announce Retirement of Executive Vice Chairman TK Kurien

Wipro Limited, a leading global information technology, consulting, and business process services company, today announced that TK Kurien, Executive Vice Chairman & Member of the Board will retire on January 31, 2017 after completing a distinguished career with the company. Azim Premji, Chairman, Wipro Limited said, “TK has been an integral part of the organization’s leadership for years. He has played a vital role in building and scaling many of Wipro’s successful businesses besides spearheading our transformation into a future ready organization. TK has long been a powerful voice in championing and espousing the cause of the industry in various fora around the world. I thank him and his family for his immense contribution to Wipro and wish him the very best for the next phase of h...

HP Acquired US Software Startup SimpliVity for $650 Million

19Jan By NitishNo Comments

ACQUISITION

HP Acquired US Software Startup SimpliVity for $650 Million

Hewlett Packard Enterprise today announced a deal to buy business data management firm for USD 650 million in cash. Founded in 2009, the Massachusetts-based Simplivity sells "hyperconverged" systems that combine computing, storage and networking. HPE said the market for such systems was estimated at USD 2.4 billion last year and was expected to grow to nearly USD 6 billion by the year 2020. "This transaction expands HPE's software-defined capability and fits squarely within our strategy to make Hybrid IT simple for customers," HPE chief executive Meg Whitman said in a statement. HPE, based in Palo Alto, California, was the result of the November 2015 breakup of computing giant Hewlett-Packard. The group was split between its enterprise unit, HPE, and the personal computer and prin...

As its Boss Moves to Tata HQ, Investors Fret Over TCS Future

16Jan By reutersNo Comments

News

As its Boss Moves to Tata HQ, Investors Fret Over TCS Future

Moving the head of Tata Consultancy Services to the top job at Tata Sons' holding company fills a critical hole for the salt-to-software conglomerate, but it leaves another at its most valuable company ahead of a complex and unpredictable 2017. The promotion of Tata veteran Natarajan Chandrasekaran - the well-regarded, high-performing boss of TCS under whom shares have quadrupled - should be no surprise. But the departure of Chandrasekaran, known as Chandra, from the Tata group's most profitable arm still rattled investors. They sent TCS shares down more than 4 percent on Friday, a day after it also posted better-than-expected quarterly results. "The IT industry is facing headwinds, and shareholders would have preferred Chandra to stay as CEO for some more time," said Souvik Guha, an...

Apple’s Entry into Car Industry Will Help iPhone

14Jan By AdityaNo Comments

News

Apple’s Entry into Car Industry Will Help iPhone

Apple is secretive about Project Titan, its alleged future mobility program. However, considering the recent hiring spree of automotive experts, patent publications related to connected car technology, and the $10 billion spent on research and development, Apple is expected to offer connected, autonomous and shared mobility solution. Frost & Sullivan's Scenario Analysis of Apple's Strategy to Enter the Car Industry discusses the possible products and/or services that Apple could offer through "Project Titan." The analysis also explores the rationale behind Apple's interest in the automotive industry and details the most probable service and/or product that is Apple is expected to release by 2021. "Apple has a long way ahead before its autonomous vehicle becomes a reality. With au...

5Jan By PriyankaNo Comments

INDIA

Indian Software Company Launched Toll Free Helpline For GST Related Queries

Software development company KDK Softwares has launched a national toll-free helpline service for resolving GST-related queries. The toll-free helpline number (1800 103 9271) will be available in six languages like English, Hindi, Gujarati, Marathi, Kannada and Malayalam. The helpline service was inaugurated by Rajeev Swarup, Principal Secretary, Small Industries, government of Rajasthan. "As the GST will be rolled out soon, small industries will be looking for helping hands on transition from multiple taxes and filing of returns with separate departments (VAT) to one tax (GST). Unlike the existing return processes, GST requires to be filed every month by businessmen which will make it easier once the 'hands on' processes are set," Swarup said at the launch. "The helpline is a ...

4Jan By NitishNo Comments

ACQUISITION

HCL Completes Acquisition of Butler America Aerospace

IT services major HCL Technologies today said it has completed its USD 85 million acquisition of Butler America Aerospace. The all-cash deal, announced in October last year, will strengthen HCL Technologies' position in the aerospace and defence engineering services space. "The acquisition has been completed with effect from January 3, 2017," HCL said in a filing to the BSE. Butler Aerospace provides engineering, design services and aftermarket engineering services to US aerospace and defence customers, serving them in areas of mechanical and structural design, electrical design, tool design and aftermarket engineering services. The acquisition excludes staffing business of Butler America Inc. Butler America Aerospace had revenues of USD 85.4 million for the year ended December 31...

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...

Microsoft Launches Dynamics 365 and AppSource in India

19Dec By PriyankaNo Comments

Tech

Microsoft Launches Dynamics 365 and AppSource in India

Microsoft Launches Dynamics 365 and AppSource in India and will be Available From Local Data center on App-based Subscription Model. Retail, BFSI & Manufacturing Enterprises are Using Microsoft Dynamics 365 to Power Their Digital Transformation. These services will be delivered to customers as Software-as-a-Service (Saas) from its datacenters in India. Dynamics 365 is a cloud-based suite of applications that integrates CRM and ERP capabilities to provide the full power of advanced data analytics, machine learning and intelligence to high growth, new age companies in India. Microsoft AppSource is the new destination for business users to find and try out line-of-business SaaS apps from Microsoft and its partners. Presently, AppSource contains more than 200 business SaaS apps, a...