IT firm Tech Mahindra and telecom analytics solution provider Subex joined hands to drive adoption of blockchain-based solutions for telecos across the globe. These solutions will reduce fraud, drive operational efficiencies for telcos by reducing compliance issues and faster time-to-market. Tech M will use its capabilities in OSS and BSS domain, while Subex’s will exploit its blockchain network and the capabilities of an enterprise-grade DLT network.
Tech Mahindra has acquired Melbourne-based digital enterprise tech firm Momenton and New Zealand-based tech consulting firm Tenzing. The Pune based firm has paid Rs 217.3 cr for the acquisition of Tenzing and Rs 75 cr for Momenton deal. The accusation will help Tech M to strengthen its digital capabilities, modern cloud-based architecture and transformation for customers in the ANZ (Australia and New Zealand) region and in financial services etc.
Tech Mahindra reported a 5.27% YoY decline in net profit at Rs 1,064.60 cr for the quarter ended on Sep 30, as against Rs 1,123.9 cr in the same period last year. On a QoQ basis, the profit rose 9.5 % from Rs 972.3 cr in June. Tech M’s active client, during the period, stood at 988, as it added seven new ones. The number of employees went down by 5.5 % from the year-ago period. A special dividend of Rs 15 per equity share on the face value of Rs 5 % has been declared.
Tech M is in advanced stage of sharing tech with ITI Ltd. and said the state-run electronics manufacturing entity will be ready to make 4G and 5G equipment in a few months. This partnership is in line with govt’s strong desire to get back the state-run company in manufacturing high-end tech products. Tech M will help ITI with the reference design with the transfer of tech that will enable them to put together the process and the plans to start manufacturing.
Tech M partners Rakuten Mobile to support the development, deployment of Rakuten Communications Platform. RCP is a cloud-native telco platform that enables enterprises to build low-cost, high-speed secure and open mobile networks. Through this partnership, Tech M will provide managed IT, security and network services to Rakuten Mobile. Besides, Tech M will be able to drive innovation in the telecom space and lead the transformation in mobile network technology.
Tech M and Kings XI Punjab, a leading Dream11 IPL team partner will launch a dedicated fan engagement app to virtually connect fans to teams during the Dream11 IPL and beyond. The app will be available for both iOS and Android users. Tech M and Kings XI Punjab will also work of 5G related use cases for introducing holographic virtual fans to the stadium. This will be Tech M’s first step in building a digital fan engagement platform. It will largely use AR, VR.
Tech services firms including TCS, Infosys, Tech M, in past 3-4 months, have hired fewer people with legacy skills, partly due to the pandemic and partly due to the rise in demand for newer digital skills. Besides marginal demand for C, C++, VLSI design, no other legacy skills have been in demand in the past 3 months. Conversely, between June-August period 10.9K jobs were added for data science, 13.5K for data analytics and 13.2K (6% up) for AWS or cloud.
Tech M is teaming up with AWS to build blockchain based solutions using Amazon Managed Blockchain. The company, through the AWS Marketplace, will offer blockchain services in the following areas: Aviation and Aerospace Kit Management; Outbound Logistics in Telecom Supply Chain; Medical Material Track and Trace in Healthcare Supply Chain. Tech M will also offer these services in industries like Banking and Financial Services, Retail, Oil & Gas, Telecom etc.
Tech Mahindra has launched an Upskilling-as-a-Service platform for accelerating digital upskilling of over 60k employees globally. The platform aims at training employees on emerging technologies like 5G, cloud, big data, automation etc. It uses AI to provide interactive, on-demand, contextual and hyper-personalised upskilling experience to employees in a self-service model. Employees can access world-class content and assessment from 30+ partners.