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News on Medial
India's Infosys signs $1.64B deal with UK-based Liberty Global to scale digital platforms
IndianStartupNews
·
1y ago
Medial
Infosys recently announced it has signed a significant 5-year agreement valued at $1.64 billion and has extended its strategic partnership with the UK-based Liberty Global to scale Liberty Global's digital entertainment and connectivity platforms.
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Infosys extends Spark New Zealand collaboration to digital transformation
Economic Times
·
3m ago
Medial
Infosys has partnered with Spark New Zealand to drive digital transformation and reduce operating costs for the telecommunications company. Leveraging Infosys' AI-first services like Infosys Topaz and Infosys Cobalt, the collaboration aims to enhance Spark's technology delivery and reduce IT costs. Infosys will provide advanced DevOps and software engineering support while Spark retains control over its IT architecture and innovation roadmap. The partnership emphasizes leveraging Infosys' global scale and AI innovations to deliver superior customer experiences.
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Infosys-Pacific International deal valued at $300 million
Livemint
·
1y ago
Medial
Infosys has secured a $300 million contract with Pacific International Lines, a Singapore-based shipping company. The deal, which runs until 2027, includes Infosys managing the company's IT infrastructure and supporting its digital transformation. This comes after Infosys terminated a $1.5 billion AI contract in December. The recent contract marks Infosys's second major deal announcement in a month, following an agreement with Irish food retailer Musgrave. The company aims to enhance Pacific International's customer portals through its AI-powered Infosys Topaz suite.
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KKR signs deal to acquire Healthium from Apax Partners
VCCircle
·
1y ago
Medial
US private equity firm KKR & Co. has announced its acquisition of Indian medical device manufacturer, Healthium Medtech Ltd., from UK-based Apax Partners. The deal, facilitated by a special purpose vehicle owned by KKR-managed funds, is expected to close in Q3. Financial details were not disclosed, but KKR's Asian Fund IV will lead the investment. Healthium previously attempted an unsuccessful public offering and divested its UK-based business in the urology segment to KKR. The company reported strong financial performance, with consolidated net profit for FY23 reaching INR 603.25 crore.
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Govt to come out with a legal framework to ensure data privacy: Piyush Goyal
YourStory
·
8m ago
Medial
India's Commerce and Industry Minister Piyush Goyal spoke at the UK-India Technology Futures Conference, emphasizing the need for a legal framework to ensure data privacy and promote free data flow. Goyal highlighted the potential for collaboration between India and the UK in various technology sectors, including AI, telemedicine, climate modeling, precision agriculture, and more. He also discussed the intersection of the digital world and sustainability issues, pointing out India's significant efforts to develop a large-scale interconnected grid with a mix of traditional and renewable energy sources. Goyal invited global investors to take advantage of India's unmatched opportunities in technology and innovation.
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Infosys launches GIFT City Development Centre to serve global BFSI clients
YourStory
·
2m ago
Medial
Infosys has opened a new development centre at Gujarat International Finance Tec-City (GIFT City) to serve global banking, financial services, and insurance clients. The centre will employ around 1,000 people in a hybrid work model, focusing on advanced digital solutions in areas like digital banking, regulatory affairs, trade finance, and more. Leveraging technologies such as AI, cloud, and blockchain, this initiative aligns with Infosys' ESG commitments, enhancing India's position in global financial technology.
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IT stares at slowest quarterly revenue growth in a decade
Startup News FYI
·
1y ago
Medial
India's top technology companies are expected to report their slowest quarterly revenue growth in a decade. While some companies like HCLTech and LTIMindtree are expected to see growth, others like Wipro, TechMahindra, and Infosys are expected to experience revenue declines. The focus will be on the demand environment and 2024 budgets, as well as contingency plans to deal with leadership changes. Margins for Infosys and Wipro are expected to contract due to wage increases and revenue decline. The quarter is also expected to see cross-currency headwinds for companies with exposure to the UK, Europe, Australia, and Japan.
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Infosys to acquire semiconductor design provider InSemi
VCCircle
·
1y ago
Medial
Infosys, one of India's leading IT services exporters, has announced its acquisition of semiconductor design firm InSemi in a cash deal worth $33.7 million. The acquisition will strengthen Infosys' engineering capabilities in areas such as AI, 5G, and IoT, where semiconductors are driving growth. InSemi offers comprehensive semiconductor design services and is expected to support Infosys' chip-to-cloud strategy. The deal is set to be completed within the current quarter.
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AI to amplify India's Digital Public Infrastructure and boost inclusion, says Nandan Nilekani
YourStory
·
9m ago
Medial
Artificial intelligence (AI) has the potential to enhance India's Digital Public Infrastructure (DPI) and promote inclusivity in the country, according to Nandan Nilekani, non-executive chairman of Infosys. Speaking at the Build with AI Summit, Nilekani emphasized that AI will strengthen and accelerate the existing infrastructure, enabling greater inclusion. He highlighted the impact of AI on agriculture and education, illustrating how it can revolutionize access to information and learning. Nilekani also discussed the importance of leveraging India's digital infrastructure to advance AI technologies and promote inclusion at scale.
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UK's online safety law is putting free speech at risk, X says - The Economic Times
Economic Times
·
6d ago
Medial
Social media platform X criticized the UK's Online Safety Act, claiming it threatens free speech through excessive regulation. Intended to protect children and remove illegal content, the Act faces backlash for encouraging over-censorship. X demands significant changes to balance safety and liberty. Despite compliance, platforms face tight deadlines and enforcement threats. Critics argue the law's broad implementation risks legal content censorship, while the UK government insists it protects free expression along with child safety.
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TPG signs control deal for digital business services firm Altimetrik
VCCircle
·
1y ago
Medial
Private equity firm TPG has announced its acquisition of a majority stake in Altimetrik, a digital business services company based in India and the US. TPG's investment will help strengthen Altimetrik's brand and support its goal of achieving $1bn in annual revenue within the next three years. The partnership will enable Altimetrik to expand its reach and develop further innovations for digital business. The financial terms of the deal have not been disclosed. Altimetrik will continue to be led by CEO Raj Sundaresan, with support from founder and executive chairman Raj Vattikuti and president of digital business and artificial intelligence, Adam Caplan.
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