SOFTWARE TECHNOLOGY PROVIDER
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Strong ER&D demand helps IT buck overall soft hiring trend
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
Meity tells EPFO to prioritise the revamp of its IT infrastructure
In a letter dated June 18, 2024, Meity urged EPFO to fast-track development of the De-Novo system saying the current technology stack and support platform is already on the verge of obsolescence. Further, it said that there is an imminent need to revamp the unified portal application of EPFO along with augmenting the supporting infrastructure setup to support the software system
Volkswagen's $5 billion investment in Rivian boosts EV maker's shares
Rivian secures vital funding through Volkswagen's investment, enabling the launch of new EV models. The partnership signifies a significant step towards technological advancement and financial sustainability in the competitive electric vehicle market.
Microsoft breached antitrust rules by bundling Teams with office software, European Union says
The European Commission stated that Microsoft may have provided Teams with a "distribution advantage" by not allowing customers the option to choose whether to include Teams when purchasing the software. Last year, Microsoft made certain adjustments in an attempt to avoid penalties, such as offering software packages without Teams specifically for European customers. However, the commission has indicated that these measures are insufficient.
India can be the great link joining the largest population of developers to AI’s immense possibilities
India is projected to surpass the US as the largest software developer community by 2027, with the digital economy contributing significantly to its overall economy. AI tools are revolutionizing software development, leading to substantial gains in productivity. The country's focus on early education in programming and the promotion of open-source collaboration are key factors driving this growth.
- Go To Page 1
Wipro launches Lab45 AI platform to compete on GenAI solutions
Wipro launched Lab45 AI platform to enhance business functions and industry-specific solutions for customers and employees. The platform has shown productivity gains of up to 30% across industries, according to Subha Tatavarti, Wipro's chief technology officer.
Apple WWDC 2024 AI live stream: Where and how to watch the event online?
Apple's WWDC 2024, starting tonight, will focus on software updates rather than new hardware. Key announcements include iOS 18 with AI features like Smart Recap and improved Siri, watchOS 11 with advanced health features, macOS 15 with AI-driven enhancements, and visionOS 2.0 for AR capabilities. The event will also introduce Apple Intelligence, a new AI system, and updates to apps like Settings, Control Centre, Messages, Photos, and Mail.
New govt to build on past success in tech; more initiatives in offing, says IT Secretary
NDA set to form government for a third term, IT Secretary S Krishnan discusses tech initiatives. Meity to continue new initiatives, build on past successes.
Bharti names Sharat Sinha CEO of Airtel Business
Bharti Airtel appoints Sharat Sinha as CEO of Airtel Business, effective June 3, 2024. Sinha, with extensive global experience from Checkpoint Software Technologies Ltd and other tech giants, aims to bolster Airtel's portfolio in connectivity and adjacent sectors. Both Sinha and Airtel's management express confidence in enhancing customer value and technological innovations.
How AI made Mark Zuckerberg popular again in Silicon Valley
Meta's CEO, Mark Zuckerberg, introduced an open-source AI system, challenging closed models like OpenAI. Jeffrey Emanuel, a hacker and AI enthusiast, initially skeptical, was impressed by Meta's move to make the code freely accessible.
Arm offers new designs, software for AI on smartphones
Arm Holdings unveiled new chip blueprints and software tools to enhance smartphones for AI tasks, aiming to accelerate adoption with changes in blueprint delivery.
SanchiConnect, YourNest Venture Capital launch accelerator for deeptech hardware and software startups with Core IP
The program is open to startups in a wide range of sectors including agritech, adtech, biotech, consumer/retail, energy, martech, manufacturing, and foodtech.
KKR invests in Healthcare Revenue Solutions provider Infinx
KKR acquires a significant minority stake in Infinx Services, a leading healthcare revenue cycle solutions provider. With Norwest Venture Partners also participating, the investment aims to accelerate Infinx's growth in the US healthcare market, leveraging KKR's expertise. Infinx's innovative platform serves over 400 healthcare providers, tapping into a $4.3 trillion market.
UPI’s rural push; India as software IPO destination
Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.
PE fund Apax to step up India play with new team
The Apax strategy is more pivoted toward control deals, given its focus on being able to have a seat on the table to drive changes. It is, however, open to partnering with quality founders and management teams in minority settings "where there's a meeting of minds," Haldea said.
Happiest Minds makes third acquisition for $8.5 million
This is the third acquisition for the Bengaluru-based IT services firm in FY25 so far with two acquisitions PureSoftware Technologies and Macmillan Learning India announced in April.
Inflation-wary Fed may put IT revival on hold
Indian outsourcing leaders face delayed business revival until FY26 due to US Federal Reserve's high interest rates. The impact on revenue growth and IT firms' strategies could persist, affecting deals and revenue projections in the sector.
TBO Tek riding high on growth in travel and tourism, but issue looks a bit pricey
It will also raise up to Rs 1,151 crore through an offer for sale by promoters and investors. The promoter group’s stake will fall to 44.4% after the IPO from 51.3%.
Happiest Minds Tech Q4 Results: Profit jumps 25%, revenues up 10%
Happiest Minds Tech Q4 Results: For full year, the Bengaluru-headquartered firm’s profit rose 7.5% to Rs 248.39 crore from Rs 230.99 crore in FY23. Revenues increased 13.7% to Rs 1624.66 crore from Rs 1,429.29 crore last year.
Happiest Minds Tech Q4 profit jumps 25%, revenues up 10%
Happiest Minds executive chairman Ashok Soota said the company is on track for its longterm vision of $1 billion revenue in FY31, thanks to its new generative AI business unit and two successful acquisitions.
How Software and IT Jobs are disappearing in favour of AI and what is going to fill that vacuum
AI and technology advancements threaten 400 million jobs globally, impacting India's IT sector. Addressing rising unemployment requires skill evolution and innovative educational approaches to prepare for the future workforce demands.
Cybersecurity firm Darktrace accepts $5 billion takeover
Cybersecurity firm Darktrace said Friday it had accepted a $5.3-billion takeover bid from US private equity firm Thoma Bravo, which highlighted the British group's "capability in artificial intelligence". "Darktrace is at the very cutting edge of cybersecurity technology, and we have long been admirers of its platform and capability in artificial intelligence," Thoma Bravo partner Andrew Almeida said in a statement.
Happiest Minds to acquire PureSoftware Technologies for Rs 779 crore
Happiest Minds Technologies Ltd to acquire PureSoftware Technologies for USD 94.5 million, focusing on enhancing domain capabilities in BFSI and healthcare verticals, and expanding global presence in the USA, UK, India, Mexico, Singapore, and Malaysia.
Stay bullish, just change the perspective to long term: 5 mid-cap stocks with upside potential of up to 31%
As the market faces headwinds, questions are bound to be raised about whether the mid-cap segment would see a sharp correction or not. As of now it appears that things are far better both in terms of market breadth and the way the stocks have been able to see a recovery in a short span of time. But the best way to navigate such market conditions would be to do two things, first stay with mid-cap stock with some track record in terms of fundamentals and give return to shareholders. Second, once you pick the stock, stay with it long term and dont sell in hurry due to any narrative which some global development might bring on the table.
Salesforce is in advanced talks to buy Informatica: report
According to the Wall Street Journal, the price of the deal being discussed is below Informatica's current stock price of $38.48, which is a potential complication factor.
EV not a fad but a structural change in auto industry: Ravi Pandit, KPIT Technologies
I believe both these present extraordinary opportunities for not only growth for auto industry and technology companies like us, but I think it promises a very-very good future for a country like India because it can bring in energy security, it can bring in better air and all that. So, we are really very-very excited about this shift.
Tata Tech, BMW form JV to develop auto software
BMW Group and Tata Technologies form a JV to create an automotive software and IT hub in Pune, Bengaluru, and Chennai. The focus will be on software-defined vehicles, automated driving, infotainment, and digital services.
Tata Technologies, BMW Group to form JV for software development
The venture will develop automotive software for automated driving and the dashboard system among other features, Tata Technologies said, but didn't disclose any financial details of the agreement.
Load More
