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IT, ITeS & Communications

The country’s telecom subscriber base for the third time crossed 120-crore mark with Reliance Jio, BSNL and Airtel adding new customers in January. The number of telephone subscribers in India increased from 1,197.87 million at the end of December 2018 to 1,203.77 million at the end of January 2019, thereby showing a monthly growth rate of […]

Indian IT company HCL Technologies announced that it has signed a managed services agreement with Xerox worth $1.3 billion over multiple years. This seven-year agreement for an incremental $1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services. https://www.business-standard.com/article/pti-stories/hcl-tech-inks-managed-services-agreement-with-xerox-119031901227_1.html

The information technology services sector is estimated to clock a flat growth of upto 9 percent in the fiscal year 2019-20. ThThe grouping has discontinued a 25-year-old practice of coming out with growth estimates citing the changes in the landscape which makes the job harder.  https://economictimes.indiatimes.com/tech/ites/it-services-sector-may-register-growth-upto-9-in-fy20/articleshow/68464601.cms

Singapore-based Intain Fintech, an Artificial Intelligence and blockchain-based software products firm, is in talks to raise another $2-million funding, in exchange for a nominal stake. The firm is in talks with existing investors, Blockseed Ventures and Hamon Private Equity, part of Hamon Investment Group, for the funding. https://www.thehindubusinessline.com/todays-paper/tp-money-banking/article26549825.ece

L&T Infotech (LTI) is likely to sign a deal with Café Coffee Day founder VG Siddhartha and his associates in the next four days to buy their 21% stake in Mindtree. https://economictimes.indiatimes.com/tech/ites/lti-siddhartha-may-seal-mindtree-deal-in-4-days/articleshow/68403865.cms

Tata Consultancy Services announced that it is developing solutions to drive Blockchain adoption across industries, using technologies from Microsoft and enterprise blockchain software firm R3. https://economictimes.indiatimes.com/tech/ites/tcs-to-drive-blockchain-adoption/articleshow/68407061.cms

Wipro Limited has launched its industrial internet of things (IIoT) centre of excellence (CoE) in Kochi. This is the third such centre of the company after California and Bengaluru. https://economictimes.indiatimes.com/tech/ites/wipro-launches-third-industrial-internet-of-things-centre-of-excellence-in-kochi/articleshow/68411685.cms

Array Networks invested Rs 140 crore ($20 million) in India to set up a product innovation and design centre, and aims to increase the workforce to five-fold by the end of this year. India is one of the fastest growing markets for our company and will add technically-skilled manpower. https://telecom.economictimes.indiatimes.com/news/array-networks-invests-rs-150-crore-to-set-up-innovation-centre/68370463

Buyout investor Baring Private Equity Asia is nearing a deal to acquire NIIT Technologies at a slight premium to the prevailing market value. Baring has lined up financing support from four global banks as it looks to clinch the deal, valuing NIIT Technologies at over Rs 8,500 crore (or $1.2 billion). https://economictimes.indiatimes.com/tech/ites/pe-baring-nears-deal-to-buy-niit-tech-values-co-at-1-2-billion/articleshow/68369271.cms

Birlasoft, a part of the diversified CK Birla Group, has completed the planned merger with the IT services division of KPIT.  The combined entity Birlasoft Limited is a mid-tier USD 500 million (approximately Rs 3,478.88 crore) company listed on the Indian bourses. https://economictimes.indiatimes.com/tech/software/birlasoft-completes-merger-with-kpits-it-services-division/articleshow/68372932.cms