Four Infosys founders sell shares worth $1.1 bn
Infosys four founders is planning to raise about $1.1 bn by selling stakes in the IT outsourcing company, according to reports.
Report stated that the founders are offering 32.6 million shares in Infosys at a fixed price of Rs1,988 ($32) each.
Deutsche Bank is the sole book runner and the books were covered just after the launch, says report.
TCS plans to undergo restructuring exercise: reports
Tata Consultancy Services is reportedly planning to undergo a restructuring exercise.
The workforce optimisation programme is expected to be over in February 2015, says report.
Employees who have been put under the scanner are above the rank of consultant — senior consultant, principal consultant, vice-presidents, etc.
There are reports that employees with around 20 years of experience and some 25,000 employees could fall in this category.
Founders fully committed to management, it's all good: Infosys CEO
Infosys CEO Vishal Sikka reportedly said the founders of India's second largest IT services firm Infosys still remain committed to the firm and the sold stock will be used for philanthropic purposes.
Earlier this week, co-founders N R Narayana Murthy and Nandan Nilekani along with their family members sold Infosys shares worth Rs 6,484 crore, says report.
"I think it was part of a portfolio decision. The vast majority of their holdings are still there, and they are still among the largest shareholders of the company," Sikka reportedly said.
"They are fully committed to the management, to the company - it's all good," Sikka added
L&T Technology Services signs agreement with Gates Foundation
L&T Technology Services, a wholly owned subsidiary of Larsen and Toubro, announced today that it has signed an agreement with the Bill & Melinda Gates Foundation to work as part of their Sanitation & Hygiene program.
As per this partnership, L&T Technology Services will consult with various grantees who have been working extensively with the Foundation to assess their unique toilet design prototypes and provide solutions for sustainable designs to make them ready to market. The first of these projects will begin targeting India as a destination.
In the developing world, 2.5 billion people practice open defecation or lack adequate sanitation facilities; an additional 2.1 billion urban residents use facilities that do not safely dispose of human waste.
In such a scenario the Bill & Melinda Gates Foundation has joined hands with many research institutes worldwide including India to bring standalone sanitation facilities to developing countries and tackle this growing and alarming crisis. L&T Technology Services will work on the prototypes to make them sustainable solutions supporting the process of sanitation from waste collection and disposal to energy conversion. The approach will be to make the prototypes more affordable, robust as well as designed to be manufactured with help of local manufacturing facilities.
Tech Mahindra expands operations in Bhubaneswar
Tech Mahindra Ltd. a specialist in digital transformation, consulting and business re-engineering, today announced the inauguration of the new IT block in the city, adding to the existing block that houses 500 associates. The total capacity of the Bhubaneswar facility with the addition of new building will be 1111 seats.
The Chief Minister of Odisha Shri. Naveen Patnaik inaugurated the facility at a glittering function today in the presence of various cabinet ministers and dignitaries from the state and leadership team from Tech Mahindra. The new building is based on modern architecture completely controlled through Integrated Building Management System.
Speaking at the occasion, Chief Minister Naveen Patnaik, Chief Minister, Odisha said, “I hope Tech Mahindra will continue to expand its growth and employment contribution from Bhubaneswar in future. I congratulate the management of Tech-Mahindra and wish them all Success in this endeavour.”
“Tech Mahindra is present in Odisha since 1997 and we are over-whelmed to see the abundance of talent here. Our journey from being 25 associates in 1997 to ~ 600 strong workforce has been eventful, and I’m thankful to the government of Odisha for its continued support,” said CP Gurnani, MD & CEO, Tech Mahindra.
Happiest Minds included in Representative List of IoT Solution Providers in India
Happiest Minds Technologies, a next generation IT and product engineering services and solutions company today announced that it has been mentioned in Representative List of IoT solutions providers in India in the latest Gartner report. Happiest Minds was also recently named by Zinnov as a 'niche & emerging' vendor in the 2014 Global Engineering R&D Service Provider [GSPR] Rating and has been ranked the 2nd fastest growing company in the Deloitte Technology Fast 50 India 2014 with 2,377% growth.
The Gartner report-‘Market Trends: IoT Adoption in India Will Advance at a Slow Pace Through 2020’, was published recently on October 8, 2014. Happiest Minds has been named as one of Representative software vendors for security, middleware, applications, analytics and platforms.
Former Google India Executive Mahesh Narayanan joins Tonic Media’s Advisory Board
Digital agency Tonic Media has announced the appointment of Mahesh Narayanan to its Advisory Board. Formerly with Google India as Country Head, Mobile, Mahesh Narayanan is credited with taking mobile advertising in India to the next level and also seen as one of the pioneers in the digital media space.
Commenting on the new appointment, Chetan Asher CEO, Tonic Media, said, “Tonic has been growing at an incredible momentum and it is time we took it to the next level with a vision of dominating the digital space. We are honored to have someone of Mahesh’s stature bringing his invaluable experience. Together, we can add value to our clients’ businesses with new brand-building strategies.”
Narayanan comes with over 15 years of experience across businesses in the Mobile, Adtech and Consumer Internet spaces. Speaking on this development, he states, “Tonic Media has been successful in establishing themselves as a digital powerhouse with a great roster of clients across various industries. I look forward to sharing my technology and digital advertising experience with the Tonic team to help them become market-leaders."
Wipro named a Leader by Independent Research Firm
Wipro Ltd., a leading global information technology, consulting and business process services company announced that it has been named a "Leader" by technology global research and advisory firm Forrester Research Inc. in its report, "The Forrester Wave: Business Intelligence Service Providers,Q4 2014".
Forrester Research Inc. evaluated 12 leading Business Intelligence (BI) Services providers across 30 criteria relating to current offerings, strategy and market presence based on past research, user needs assessments, and vendor and expert interviews. The report said that Wipro was amongst vendors that present formidable management consulting capabilities, capable of tackling not just tactical, but most of the strategic and advisory initiatives.
The report cites how customer references highlighted Wipro’s “set of strengths in its flexibility, commitment, and willingness to adapt to changing demands.” Forrester also acknowledged Wipro’s “boosting its management consulting and various industry vertical capabilities.” Wipro received top scores for its experience across geographies and industries (specifically financial services, manufacturing and hi-tech, retail, consumer goods and transportation, energy and utilities, and media and telecom), and strategic investments in BI. According to Forrester, clients gave Wipro high scores for overall client satisfaction and delivery capabilities.
Wipro, Infosys outpacing each other: reports
Wipro and Infosys are stepping up their age-old rivalry, this time to out-innovate each other as the two Bengaluru-based software exporters invest in disruptive technologies pegged to artificial intelligence and design thinking to bring greater efficiencies for themselves and their customers, says a report.
At an analyst event in Pune, Infosys Chief Executive Vishal Sikka reportedly said some of his company's rivals were imitating it and went as far as labeling their moves proverbially as "imitation is the best form of flattery".
HCL Partners with Washington Gas to Modernize Customer Service
HCL Technologies announced that it has signed an agreement with Washington Gas, which distributes natural gas to about 1.1 million residential, commercial and industrial customers in the District of Columbia, Maryland and Virginia. Washington Gas is a subsidiary of WGL Holdings, Inc., a public utility holding company based in Washington, D.C.
HCL has been engaged to perform an application modernization for Washington Gas’ legacy mainframe customer care and billing software, leveraging HCL’s customer engagement expertise. HCL will provide Washington Gas with functional and technical deployment of SAP’s customer relationship and billing software, ClickSoftware Workforce Scheduling andSAP’s customer relationship and billing software, ClickSoftware Workforce Scheduling andproduction servers on the Microsoft Azure cloud platform.
Telit Wireless solutions enters into a strategic alliance with TTSPL India
Atos launches COE for Oracle Exadata Database Machine in India
HCL Infosystems MD Harshavardhan Madhav Chitale quits
BT named leader in Asia Pacific for Next-Gen Telecoms according to IDC
BT announced it has been named a “leader” for the fifth consecutive year in the IDC MarketScape: Asia Pacific Next-Generation Telcos:Telecom Services 2014-2015 Vendor Assessment*.
Noting BT Global Services’ strategy, capabilities and track record, the IDC report highlights BT’s commitment to the Asia Pacific region through continued investments in networks, services portfolio and people. The report also mentions the continued growth of BT’s customer base in the region.
Kevin Taylor, President, BT Asia, Middle East & Africa said: “We are honoured and very pleased to receive this recognition from IDC. To be named a leader for the fifth consecutive year validates our deep industry expertise in the Asia Pacific region. Our strategy of investing in technology, people and processes continues to help our customers to make the connections they need to succeed in a rapidly moving business world. We will continue to develop and refine our capabilities, collaborate closely with our partners and customers, and launch more innovative services to help our customers maintain their competitive advantages.”
YouTube launches buffer-free offline video experience for Indian users
YouTube launched an offline feature for YouTube in India as part of a larger initiative to make YouTube easier to enjoy on mobile devices, while lessening the burden of data for its growing base of mobile users. This is part of YouTube’s first release of its ad-supported offline feature on Android and iOS, which was announced earlier this year with the launch of Android One smartphones.
The new offline feature for the YouTube app lets people take videos offline, using WiFi or their data plans. Once taken offline, the videos can be viewed without an Internet connection for up to 48 hours, allowing people to enjoy YouTube videos without worrying about slow connections. For videos where this feature is available, people can choose to add the video for offline viewing by tapping on the offline icon that sits under the video frame.
Worldwide Server Shipments grew 1% in Q3FY14; Revenue increased 1.7%: Gartner
In the third quarter of 2014, worldwide server shipments grew 1% year-over-year, while revenue moved upward 1.7% from the third quarter of 2013, according to Gartner, Inc.
"The third quarter of 2014 produced modest growth on a global level, highlighting positive but constrained demand," said Errol Rasit, research director at Gartner. "Only North America and Asia Pacific exhibited shipments growth, largely driven by demand from hyperscale organizations located there. These results support the continued bifurcation of enterprise and consumer services server demand."
The platform mix by region and geographic variations in economic conditions are the main reasons for these results. Asia/Pacific posted the highest shipment growth at 8.7% and 7.5% increase in revenue, while North America posted a more modest 0.7% in shipments and 2.6% increase in revenue. Western Europe saw a 2% shipments decrease, but a growth of 3.8% in revenue. Eastern Europe fell 10.8% in shipments and 6.3% in vendor revenue, and the Middle East and Africa posted a 5.2% shipments decrease and 6.7% decrease in revenue. Japan declined 6.7% in shipments and 10.6% in vendor revenue, and Latin America dropped 6.3% in shipments and 4.1% in vendor revenue for the quarter.
Microsoft plans to offer buyback option for Lumia users
Microsoft India is planning to offer a buy-back option for Lumia smartphone buyers to upgrade to higher-end models at minimal incremental costs, according to reports.
Report stated that the buy-back assurance scheme will enable Lumia buyers to avail of a peak discount.
The move is aimed at spurring Lumia smartphone sales, especially "devices in the Rs 6K-to-15K price band.
There are reports that The buy-back offer will cover all Lumia smartphones purchased at company branded retail outlets.
Accenture and Microsoft launch new hybrid cloud platform
Accenture and Microsoft Corp. have expanded their long-standing strategic alliance with the introduction of the Accenture Hybrid Cloud Solution for Microsoft Azure, a powerful hybrid cloud platform designed to bring new capabilities, economics and innovation to the enterprise. Working with Avanade, the companies are co-funding and co-engineering this platform with new hybrid cloud technologies and services to help enterprises build and manage enterprise-wide cloud infrastructure and applications.
"Our expanded relationship with Microsoft represents a game-changing proposition that addresses the biggest concerns and complexities our clients face as they look to leverage the cloud," said Pierre Nanterme, chairman and CEO, Accenture. "With new demands being placed on IT departments every day, enterprises need to smartly connect their infrastructure, software applications, data and operations capabilities in order to become agile, intelligent, digital businesses. This unique collaboration with Microsoft and Avanade is one of Accenture’s most strategic and important initiatives for driving enterprise-wide cloud adoption.”
cloudBuy signs agreement with of Indian Industry to develop global trading platform
cloudBuy plc, the cloud eCommerce marketplace, is delighted to announce that it has signed an agreement with the Confederation of Indian Industry (CII) to develop a global trading platform
The platform will support the trading activities of the 7,000+ CII members globally and within India. The CII members are predominately large manufacturers and this new platform will allow them to utilise cloudBuy’s B2B ecommerce and provide a global platform to facilitate their trading.
The new service will be rolled out through the CII’s 60+ branches which will provide support and onboarding services to its members. The service will be chargeable to members and will include website and transactional revenues.
Zebronics Introduces Indias First UPS With MLS For Low-Power Equipment
Tekla India successfully concluded BIM Complete Constructable Solution Seminar 2014
McAfee Labs Report Previews 2015 Developments in Exploits and Evasion
Meta Byte Technologies Teams Up with MetricStream