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Category: Uncategorized (page 1 of 12)

90% of tech companies state importance of IoT in development plans

The majority of the enterprises (90%) emphasized that IoT is necessary to support their digital transformation plans across different sectors. The growth of any project is proportional to the investment, 38% of these said their investment in IoT will exceed $1m in 2021. Josh Builta, Director of Research, Internet of Things, and Artificial Intelligence at Omdia expects to see the growth in IoT deployment being accelerated in the coming years.

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Microsoft in process of releasing the reverse image search feature

Microsoft Edge is going to receive a new update that brings the reverse image search feature, which will enable users of the browser to search with the image as the source of information. It will also read the text from low res images helping people with vision problems. Currently, it’s available to only early access builds, the Canary and Dev and with weekly updates rolling in, it needs a more stable beta to be released publicly. The feature was spotted by Reddit community members.

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Google’s new office policy let 20% of staff work from home

Google’s 20% of staff will WFH even after the opening of offices this fall. Around 60% of those working for the tech giant will work in a hybrid schedule meaning they have to come to the office three days a week, while the rest of the two days they can work from their comfort zone. Google has allowed 20% of the workforce to change their location of work to any google office.  “The future of work is flexibility,” CEO Sundar Pichai said in an email while announcing the new policy.

Wipro opens Innovation Centre in London, to invest  GBP rpt GBP 16 mn in 4 years

Wipro announced the setting up of an Innovation Centre in London and said that will invest GBP rpt GBP 16 mn in the next four years in the 20,000 sq. ft. center. Wipro’s proposed flagship center in the UK will provide advanced digital, cyber-security, and cloud expertise and offer tech expertise to companies in the UK and globally. The year 2021 marks Wipro’s 75th global anniversary, and 25 years in the UK, where it employs over 4000 people.

Ethereum breaks $3,000 barrier as value quadruple in 2021

Cryptocurrency Ether, the token transacted on the ethereum blockchain, witnessed a 3% rise on the Bitstamp exchange to touch $3,144 to set a new record. The present value of the digital currency has jumped 325% higher in the year so far, outgrowing a 95% rise of bitcoin. Both Ether and Bitcoin soared over 100% this year and hit a 2.5-year high on the last Sunday. The rise in Ether highlights the fact that investors are diversifying their exposure.

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Samsung heir, family to pay $10.8 bn in inheritance related tax

Samsung heir Lee Jae-yong and family will pay around $10.8 bn in taxes related to inheritance. The family of late Samsung chairman Lee Kun-hee plans to pay the amount in full in six installments over the period of five years, as the deadline to file the tax return will end this Friday. South Korea charges around 60% for inherited shares for large shareholders. Lee Kun-hee ‘s estate includes shareholdings in Samsung Electronics, Samsung Life, Samsung C&T, and real estate.

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Tech M acquires Eventus Solutions Group for Rs 330 cr

Tech Mahindra, through its wholly-owned subsidiary – Tech Mahindra Inc, has acquired US-based Eventus Solutions Group for Rs 330 cr. The acquisition will strengthen Tech Mahindra’s consulting capabilities in customer experience and management space and help it to build a consulting practice in the BPS business. The transaction is expected to close by June 15, 2021. Eventus has over 100 employees and clocked a revenue of $ 33.2 mn in 2020.

WeWork to accept payments in cryptocurrencies

WeWork will start accepting payments in select cryptocurrencies to become the latest entry in the elite firms jumping into the digital currency space including Tesla, Visa, Bank of NY Mellon. The Softbank backed firm has partnered with Coinbase Global and Bitpay to facilitate transactions. Visa, last month, also started accepting payment settlements using cryptocurrency, similarly, PayPal also launched a crypto checkout service.

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Druva raises $147 mn at $2 bn valuation

SaaS startup Druva has raised $147 mn at over $2 bn valuations. The round was led by Canada’s Caisse de dépôt et placement du Québec and saw participation by Neuberger Berman. Existing investors Viking Global Investors and Atreides Management also participated in the round. Druva, to date, has raised $475 mn. Fresh funds will be used for product development and investment in new geographies — Nordics and Australia, said CEO  Jaspreet Singh.

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