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News on Medial
Infosys and Temasek Extend Digital Services Joint Venture for Five Years
OutlookIndia
·
1y ago
Medial
Infosys has announced a five-year extension of its joint venture collaboration with Temasek, an investment firm based in Singapore. The joint venture company, Infosys Compaz ("iCompaz"), focuses on digital transformation initiatives in the Southeast Asian market, providing services such as cloud solutions, data analytics, cybersecurity, and artificial intelligence. The extension reflects iCompaz's commitment to expanding its presence in Singapore and the broader Southeast Asian market, which is experiencing rapid economic growth. The collaboration aims to help clients with their technology transformation and leverage the potential of digital innovation.
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Infosys partners with Proximus Group to drive new biz opportunities
Economic Times
·
11m ago
Medial
Infosys and Proximus Group have announced a strategic collaboration to capitalize on new business opportunities. The collaboration will focus on a joint go-to-market approach utilizing Proximus' International affiliates' products, such as Route Mobile's Communications Platform as a Service (CPaaS) and Telesign's Digital Identity (DI) solutions. By combining these with Infosys' digital services, the collaboration aims to drive innovation in customer engagement and AI-driven digital assistants, as well as enhance digital security through fraud protection solutions. This partnership will strengthen their digital offerings for business and residential customers in Belgium and beyond.
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Tata Tech, BMW form JV to develop auto software
Economic Times
·
1y ago
Medial
German car manufacturer BMW Group and Tata Technologies have agreed to form a joint venture to establish an automotive software and IT development hub in Pune, Bengaluru, and Chennai. The main focus of the joint venture will be on strategic software development for automated driving, infotainment, and digital services. BMW and Tata Technologies will each hold a 50% stake in the joint venture, which aims to leverage India's digital engineering expertise and talent pool. The agreement is subject to review and approval by relevant authorities. Financial details of the transaction have not been disclosed.
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Aramco Digital and LTIMindtree to launch KSA Digital and IT Services company
Thehindubusinessline
·
1y ago
Medial
Aramco Digital and LTIMindtree have entered into a partnership to establish an IT services company in Saudi Arabia. The joint venture aims to showcase innovative digital services and industry 4.0 systems integration capabilities, supporting Saudi Arabia's Vision 2030 initiative by generating skilled job opportunities in the technology sector. The collaboration will leverage LTIMindtree's global expertise and Aramco Digital's solutions offerings to deliver digital transformation in various sectors, such as government, energy, manufacturing, and finance. The joint venture is part of the Aramco Namaat Industrial Investments Program.
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Schneider said to be in talks to buy Temasek’s stake in Indian JV Schneider Electric
Economic Times
·
23d ago
Medial
Schneider Electric SE is in discussions to acquire Temasek Holdings' 35% stake in Schneider Electric India Pvt for approximately $1 billion, potentially valuing the venture at around $5 billion, including debt. Temasek has been considering its exit options, which could include a sale or an initial public offering. Schneider Electric, which owns 65% of the joint venture, is focused on expanding in the Indian market amidst growing merger and acquisition activity.
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Karnataka GST authorities ask Infosys to file fresh response to DGGI after recalling notice
YourStory
·
1y ago
Medial
The Karnataka authorities have withdrawn the pre-show cause notice served to Infosys and asked the IT company to submit a fresh response to the Directorate General of GST Intelligence (DGGI) regarding a GST demand of around Rs 32,400 crore. Infosys had received the notice for services availed by its overseas branches for five years since 2017 but maintained that it believes GST is not applicable to these expenses. The company has committed to responding to the notice. The massive demand is equivalent to over a year's profit for Infosys.
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Jio-BlackRock JV to enter wealth management, stock broking biz
Entrackr
·
1y ago
Medial
Jio Financial Services and US-based BlackRock have formed a joint venture to launch wealth management and broking businesses in India. In an exchange filing on Monday, Reliance’s Jio said that it has signed a 50:50 joint venture for the purpose of undertaking the two business ventures. The duo had announced an agreement in July 2023 to form a 50:50 joint venture with a $150 million investment each to enter the asset management business in India. With this, BlackRock is re-entering India’s asset management sector nearly six years after exiting the joint venture with DSP Group in 2018. Jio will compete with the likes of Zerodha, Upstox, Groww, AngelOne, and ICICI Securities, Paytm, PhonePe, ETMoney, Scripbox in the overcrowded market of stockbroking and wealth management. Tata Neu is also planning to start offering stock broking services soon. Entrackr exclusively reported the development. In February, fintech unicorn CRED made an entry into the wealth management space with the acquisition of mutual fund investing platform Kuvera.
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Infosys poised to regain its No.2 rank as quarterly revenue edges past Cognizant
Livemint
·
9m ago
Medial
Indian IT services firm Infosys has reclaimed its position as the country's second-largest IT services company, surpassing Cognizant after 14 years. Infosys reported a 3.8% increase in its quarterly revenue to $4.894bn in the September quarter. Meanwhile, Cognizant projected a revenue of $4.89-4.94bn for the same period. This shift highlights the transformation at Infosys under its chairman, Nandan Nilekani, and CEO, Salil Parekh, while signaling growth challenges for Cognizant, which has seen three CEO changes in the past seven years. Infosys' market capitalization has risen 270% since early 2018, compared to a 4% uplift for Cognizant.
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Infosys says DGGI withdraws tax demand of ₹3,898 crore for FY18 | Mint
Livemint
·
1y ago
Medial
Infosys has announced that the Directorate General of GST Intelligence (DGGI) has withdrawn a tax demand of INR 3,898 crore for the financial year ending March 2018. This decision provides partial relief to the Indian software company, as the ongoing tax battle remains unresolved. Another tax demand of INR 28,505 crore from the remaining five years is still pending. The withdrawal suggests a potential early resolution of the matter, as the government is said to be considering Infosys' plea that GST does not apply to services provided by its overseas branches.
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Why Infosys and HCLTech have the longest running CEOs
Livemint
·
11m ago
Medial
C. Vijayakumar of HCL Technologies and Salil Parekh of Infosys have become the second-longest running CEOs among the top five Indian IT services companies. TCS, Wipro, and Tech Mahindra have all seen leadership changes in the last two years, while Parekh and Vijayakumar have held their positions for over six and eight years, respectively. Both CEOs have brought stability and growth to their companies, with HCLTech experiencing higher growth rates compared to its peers. However, both face challenges in declining profitability.
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Premji, Pai family offices eye Akasa; Temasek weighs India JV exit
VCCircle
·
11m ago
Medial
Premji Invest and Claypond Capital are reportedly in advanced discussions to invest $125 million in Akasa Air, an Indian airline. The investment would value the airline at over $350 million, marking a significant increase from its previous valuation. Akasa Air is a joint venture between AirAsia and Tata Sons, and the new investment is expected to support its growth plans in the Indian market. This development comes as Temasek Holdings considers exiting its Indian joint venture with GMR Airports due to financial and operational challenges.
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