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Category: Business (page 1 of 115)

96,000 jobs to be added by top 5 Indian IT firms

Nasscom in a statement has said that the top 5 IT firms of India will be adding 96,000 new jobs. In FY21, the IT industry hired almost 138,000 people and has a strong plan for FY22. At present,  250,000 people are getting upskilled in digital skills and 40,000 have been hired. Nasscom pointed out that the BPM industry of India hires 1.4 mn people and not 9 mn as reported by a BoA study. As of March 2021, the IT-BPM sector has employed 4.5 mn people.

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L&T Infotech acquires Cuelogic for $8.4mn

Pune-based startup Cuelogic technologies have been acquired by L&T Infotech for $8.4mn. This is L&T’s seventh acquisition since 2016. The acquisition will provide L&T with 300+ employees and 100+ products. Cuelogic focuses on cloud-native web and mobile apps. They reported revenue of $5.5 mn in FY21 and work in areas like UX Consulting, DevOps, AI Consulting, IoT, Applications Modernisation, and Cloud Architecture & Integration.

India to have 330 mn 5G subscriptions by 2026: Ericsson

Swedish telecom gear maker Ericsson predicts 26% of Indians (330 mn) to have 5G subscriptions by 2026. 4G is estimated to grow from 680 mn in this year to 830 mn in 2026, growing at a CAGR of 3%. The study also suggested that India could see 40 mn users in the first year of the launch of 5G. It also predicts smartphone subscriptions to reach 1.2 bn by 2026 as compared to 810 mn in 2020, growing at a CAGR of 7%.

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Nazara Technologies to buy gaming firm PublishMe

India’s first gaming firm, Nazara Technologies backed by Rakesh Jhunjhunwala, is looking to buy a majority stake in PublishMe. The investment will be around Rs 20 cr for 69.82 % stake in Publishme’s parent Arrakis Tanitim Organizasyon Pazarlama. Post deal PublishMe will become a full-fledged publisher in the MENA region. PublishMe CEO Özgür Özalp will be joining the ‘Friends of Nazara’ network to work alongside other companies acquired by Nazara.

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TataSky signs on-demand enterprise deal with WeWork

TataSky has signed a long-term on-demand enterprise deal with WeWork. As per the deal, TataSky’s 250 employees can work at any of WeWorks locations, starting May 2021. The on-demand enterprise service has provisions of a microsite that allows them to seamlessly book workspace, conference rooms, parking, and other amenities. Since lockdown, WeWork has seen 10% growth with a sale of 10,000 desks in just the Jan-March period.

BrowerStack raises at $ 200 mn to become most-valued SaaS firm from India

Web and mobile testing platform BrowserStack has raised $200mn at a valuation of $4bn. BrowserStack has now overtaken FreshWorks as the most valued SaaS company from India. It will also become the 7th unicorn SaaS firm in the country. Fresh funds will be used for cloud testing, increasing the product suite, and doubling the present team size of 800 in the next 18 months. It will also add more data centers to its network, which is at present 15.

Microsoft elevates Satya Nadella as Chairman

Microsoft made Chief executive Satya Nadella the chairman of its board, strengthening his grip on the tech giant. Nadella after taking over as a CEO in the year 2014 has been credited for bringing new energy to the company. In his early days, Nadella laid off 14% of the workforce for restructuring and directed Microsoft’s focus towards cloud computing. Ever since Microsoft thrived on software – Windows and Office.

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Proposed tech rules of EU threaten the security of iPhones, says Tim cook

Tim Cook said that the proposed EU tech rules threaten the security and privacy of iPhones. He partially agrees with the rules, but expressed concern as legislation may allow apps to be downloaded by users from outside of the Apple store. This could ruin the security parameters that have been set by Apple, thereby putting users’ security at risk. Lawmaker Andreas Schwab said he wanted to strengthen the legislation and narrow the scope to just big companies.

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Vodafone partners with Amazon to provide Edge computing in UK

Vodafone partnered with AWS for providing Edge computing services to customers in the UK. The telco offers a unique service with the combination 5G and edge computing, having latency as low as 10 milliseconds. Low-latency Edge computing service will be initially provided to customers of London and surrounding cities of Oxford, Cambridge, Bristol, and Cardiff. Scotland and the northern regions of the UK will get this service by 2022.

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