The Weekly Dispatch

Infosys overhauls Proximus' CSM operations

Infosys has announced a collaboration with Proximus, Belgium's digital services and communications solutions provider, on the ServiceNow platform. The IT major has supported Proximus in standardizing its existing processes on the ServiceNow platform and transforming its customer service management (CSM) operations. As part of the engagement, Infosys has overhauled Proximus' CSM operations with Infosys Cobalt.

Tech firms TCS, Accenture, and Cognizant lead LinkedIn's top large companies list

TCS has topped LinkedIn's latest list of top companies to work for in India, followed by Accenture and CTS in the 2nd and 3rd place, respectively. LinkedIn released the 2024 Top Companies list for India, wherein IT companies bagged the top 3 ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector. The 8th edition has derived insights from LinkedIn data, lists the top 25 large companies, and lists 15 best mid-size companies. It also provides insights into in-demand skills, top locations, and the largest job functions within these companies.

SA Technologies' New Bengaluru Center to power Global IT Solutions through its Global Capability Center

SA Technologies, at the forefront of AI-powered IT consulting and headquartered in San Jose, California, announces the launch of its cutting-edge Global Capability Center (GCC) in Bengaluru, India, as of April 4th, 2024. This pivotal expansion enhances the product engineering capabilities of Inspera, an ed-tech innovator focused on making educational assessments fair and universally accessible. The Bengaluru GCC represents SAT's commitment to innovation and excellence.

Commvault acquires Cloud cyber resilience company Appranix

Commvault, a provider of cyber resilience and data protection solutions for hybrid cloud, has announced the acquisition of Appranix, a cloud cyber resilience company. The company did not disclose at what price the acquisition was made. Commvault seeks to help customers reduce downtime by recovering data rapidly via automation and next-generation cleanroom offerings. The Appranix team will join Commvault imminently, and the integration of Appranix's technology into Commvault's portfolio is expected to be completed by this summer.

Internet browser Veera says it has crossed 1 million users

Veera, India's homegrown mobile-only internet browser, said it crossed 1 million users in less than a year since its inception. The app, entirely developed in India with tailored content and ad-blocking services, competes largely with global internet browsers, including Microsoft, Google Chrome and Apple Safari. It launched in beta in September last year and, over the next few months, released multiple new features, including its cricket widget, the cricket adda, Veera games, privacy features, and ad block.

AMD introduces AI chips for business laptops and desktops

Advanced Micro Devices unveiled a new series of semiconductors for AI-enabled business laptops and desktops as the chip designer looks to expand its share of the lucrative "AI PC" market. These chips are expected to be available in platforms from HP and Lenovo starting in the second quarter of 2024, AMD said in a press release. AMD said its latest Ryzen PRO 8040 Series was built for "business laptops and mobile workstations", while its AMD Ryzen PRO 8000 Series was a desktop processor for business users.

Wavetronix LLC acquires 42Square, a software consulting firm in Kochi

42Square, a software consulting firm in Kochi Infopark, has officially announced its acquisition by Wavetronix LLC, a global leader in intelligent traffic solutions based in Utah, US. As part of the acquisition, 42Square will help Wavetronix set up an Innovation & Research lab to conduct research on creating new devices in the traffic solutions sector and diversifying the embedded solutions service to other sectors. The venture is called FortyTwo Square Solutions Pvt Ltd, a new subsidiary of Wavetronix in India that has been operational since April 1st.

Google lays off employees, shifts roles to hubs in India, Chicago, Atlanta, and Dublin amid cost cuts

Google is laying off an unspecified number of employees, a company spokesperson said, marking the latest cuts at the technology giant as it cracks down on costs. The layoffs are not company-wide, and the impacted staff will have the chance to seek internal roles, the spokeswoman added. Google's finance chief, Ruth Porat, sent an email to staff saying the restructuring includes expanding growth to Bangalore, Mexico City, and Dublin, according to media reports.

Nagarro hits $1 billion revenue mark in FY23

Munich-based digital products engineering company Nagarro crossed the $1 billion revenue mark in the financial year 2023 based on year-end currency rates, growing 9.4% Y-on-Y on a constant currency basis. Revenue increased from about $908 million in 2022. The company follows a January to December FY. CEO Manas Human said that the company's larger aim now is to reach $10 billion in 10 years.

Infosys Q4 Results: Profit jumps 30% YoY to ?7,969 crore; co sees FY25 revenue growth at 1-3%

Infosys posted a 30% YoY growth in its consolidated net profit at ?7,969 crore for the quarter that ended March 2024 as against ?6,128 crore in the same quarter of last year. Revenue from operations in the 4th quarter stood at ?37,923 crore, up 1% from ?37,441 crore clocked in the previous year's quarter. The company forecast that its constant currency revenue growth for FY25 will be around 1-3%. The company's board has recommended a final dividend of ?20 per share for FY24 and an additional special dividend of ?8 per share.

Microsoft to invest $1.5 billion in Emirati AI firm G42

Microsoft plans to invest $1.5 billion in G42, an AI firm in the UAE, the New York Times reported. G42 had divested its investments in China and began the lengthy task of pulling out Chinese hardware amid U.S. concerns over its relationship with Chinese businesses. Under the partnership, G42 will use Microsoft's cloud services and accede to a security arrangement negotiated in detailed conversations with the U.S. government, the newspaper said.

Adobe explores OpenAI partnership as it adds AI video tools

Adobe is in the early stages of allowing third-party generative AI tools such as OpenAI's Sora and others inside its widely used video editing software, the company said. Adobe's Premiere Pro app is widely used in the television and film industries. Adobe is planning this year to add AI-based features to the software, such as the ability to fill in parts of a scene with AI-generated objects or remove distractions from a scene without any tedious manual work from a video editor.

Vodafone Idea raised ?5,400 crore from nearly 60 anchor investors

Vodafone Idea (Vi) raised ?5,400 crore from nearly 60 anchor investors, making it the 3rd-largest anchor book after One 97 Communications and LIC. According to sources, institutions such as GQG Partners, UBS, Morgan Stanley Investment Management, AustralianSuper, Fidelity, and domestic mutual funds like Quant and Motilal Oswal were among those that subscribed to Telco's anchor book. Sources indicate that over 70% of the anchor investors are foreign institutions.

Elon Musk confirms plans to Charge New Users on X a 'Small Fee' before they can write posts

Elon Musk-owned X could soon start charging new users an annual fee to give them access to write, like, reply to, or bookmark posts on the platform. He confirmed the plans to charge new users on the microblogging platform, stating that the move was aimed at reducing spam on X. A recurring fee on an annual basis could be charged, according to a report, but there is no clarity on the duration for which users will be charged for these basic privileges on the platform.

Apple plans to invest more than $250 million in expanding it's Singapore campus

Apple Inc. plans to invest more than $250 million in expanding its regional campus or operations in Ang Mo Kio, Singapore, according to a company statement. "Singapore is truly a one-of-a-kind place, and we are proud of the connection we've built with this dynamic community of creators, learners, and dreamers," Tim Cook, Apple's CEO, said in a statement. Apple opened its first facility in Singapore in 1981 with 72 employees focused on Apple II, its early PC.

Infosys to acquire engineering R&D services provider in-tech for $480 million

Infosys is acquiring in-tech, an engineering R&D services provider focused on the German automotive industry. The cost of the acquisition is pegged at $480 million (€450 million), the firm said in an exchange filing. This strategic investment further strengthens Infosys's engineering R&D capabilities and will aid global clients to navigate their digital engineering journey, the company said. The acquisition is expected to be closed during the 1st half of fiscal 2025, subject to regulatory approvals.

Meta releases early versions of its Llama 3 AI model

Meta Platforms released early versions of its latest LLM, Llama 3, and an image generator that updates pictures in real-time while users type prompts as it races to catch up to generative AI market leader OpenAI. The models will be integrated into the virtual assistant Meta AI, which the company is pitching as the most sophisticated of its free-to-use peers. The assistant will be given more prominent billing within Meta's Facebook, Instagram, WhatsApp and Messenger apps, as well as a new standalone website that positions it to compete more directly with ChatGPT.

?Intel announces Santosh Viswanathan as India region head

Intel announced that Santosh Viswanathan will head the India region business as its MD. He has been with Intel for about 21 years. "In March this year, Intel announced India as a separate region within its SMG (Sales, Marketing and Communications Group) organization to capitalize on the country's rapid?growth and business opportunities. Santhosh Viswanathan, VP and MD-India region, will lead?the newly formed region, leveraging his expertise to drive value and?customer-centricity," Intel said.