The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
Two-thirds of organisations in the Indian technology sector are hiring gig workers as they respond to a changing business landscape, said a report by industry organisation NASSCOM and others on Thursday. Focus on requirement for specialised skills, employee demand and cost optimization enabled organisations to use the gig model for technology roles traditionally restricted to HR and support functions. Software development, UI/UX design, and data analytics were the top three gig skills the technology sector needed.
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
'The choice is clear: We either embrace this transformation and cement our global leadership, or hesitate, lose ground, and fade into irrelevance.'
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
Wipro Ltd Chairman Azim Premji on Friday said there are "absolutely no plans" to list Wipro Enterprises, the demerged non-IT businesses firm of the group, on stock exchanges.
Activist short-seller Nathan Anderson, known for his high-profile campaigns against the likes of Adani Group, said he is closing his firm, Hindenburg Research, not because of any threat -- legal or otherwise -- and that he stands by all its reports.
For a lucrative career in the IT industry, aim for a combination of coding and communication skills.
For a lucrative career in the IT industry, aim for a combination of coding and communication skills.
PC maker Lenovo India will start manufacturing 50,000 GPU-based AI servers in India next year, the company said on Tuesday. Besides this, Lenovo announced setting up its fourth largest research and development centre in Bengaluru. Lenovo India managing director Shailendra Katyal said that the company will make servers locally and also export them from its manufacturing unit in Puducherry.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
In 2013, the market grew 0.4 per cent over 2012.
Global technology service provider EDS said on Monday it has reached an agreement to acquire Bangalore-based software testing firm RelQ Software Private Ltd.
Reliance has filed patents not only in India but also in the US, Canada, Europe, Estonia, South Korea, and South America. The patents include narrowband Internet of Things, AI large language models, AI DeepLearning, Big Data, devices, and quantum AI in 6G.
Software market in India grew 10 per cent to $4.76 billion in 2013, driven by strong adoption of cloud or subscription-based services, research firm Gartner said.
Though global IT services spending is likely to cross the $1-trillion mark to reach $1.031 trillion, growth rate will slow to 3.8% in 2019, compared to 6.7% last year according to reports
It hopes a significant part of its growth in India would come from the government sector, with the thrust on e-governance initiatives.
In its efforts to thwart Microsoft, IBM had unveiled Lotus Symphony a few months back, challenging the former's dominance in the office desktop software market. The package includes a word processor, spreadsheets and a presentation suite. Edward Orange, director, Lotus Business Unit (Software Group), IBM Asia-Pacific, said, "Since it's free, Lotus Symphony is a formidable challenge to Microsoft's new Office 2007 suite in the market for Windows-based productivity software."
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
The investments include Oracle's approximately two billion dollar acquisition of Mumbai-based banking software company i-flex Solutions two years ago. Oracle holds about 83 per cent in i-flex, which is listed on the Indian bourses. The enterprise software major has seven development and solution centres in India. On Thursay, it opened two centres -- Asia R&D unit and Partner Solutions Centre -- in Gurgaon to focus on Indian market.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
The security solutions software market in India is expected to touch $130 million by 2009 from $36.3 million in 2004 with the next wave of growth coming from small and medium enterprises, according to research firm IDC.
Quits as SAP board member; had made presentations before Infy board in January.
For the past few days, Tata had been admitted to the Breach Candy Hospital in south Mumbai.
Air India's use of artificial intelligence (AI) has had a huge impact on the airline major's call centre volumes and the technology integration has reduced costs by 100 times, a senior company executive said on Wednesday. The airline launched its own chatbot AI.g, earlier known as Maharaja, in May 2023. The chatbot has answered approximately two million queries since its launch, handling 93 per cent of customer inquiries without needing to pass them on to call centre agents, said Sathya Ramaswamy, Chief Digital and Technology Officer, Air India.
Ending all speculation, Infosys, India's second largest IT services company today announced Vishal Sikka, the former chief technology officer and member of executive board at enterprise software maker SAP, as the new CEO & MD.
'We participate in the design/development of components and systems for electric vehicles, internal combustion engines, and hybrid vehicles.'
It might take a little longer for demand to pick up in India's IT outsourcing services industry.
US-based enterprise software majors Financial Technologies International and TCG Software Services Inc would invest $20 million in India in the next four years.
Virtualisation is going to be a key opportunity for software players in the next 3 to 5 years, according to Amit Chatterjee, general manager, Windows Group of Microsoft India (R&D) Private Limited.
A Chennai-based software development company Arrowpoint Technologies Pvt Ltd has developed Enterprise Strategy Ware, a balanced scorecard product, which is a Harvard business school concept that provides complete business solutions to improve operati
The system will wed BlackBerry's security platform with the South Korean company's own security software for its Galaxy devices.
World's No. 1 venture capitalist Promod Haque of Norwest Venture Partners is in talks with five software product companies in India for funding.
Enterprise software leader Oracle, which last year acquired Indian banking software firm i-flex Solutions, has made a final offer of Rs 2,100 per share to shareholders as it seeks to increase its stake to 90 per cent.
Developers in India now have expanded access to Google's powerful AI models with the 2 million token context window in Gemini 1.5 Pro and Gemma 2, the next generation of open models.
Peter Gartenberg, SAP India Managing Director tells about the changes taking place at SAP globally
