The Weekly Dispatch

HCLTech's arm to acquire French software firm Zeenea for €24 million

HCLSoftware plans to acquire a 100% stake in France-based software firm Zeenea SAS at a valuation of €24 million, in an effort to diversify its data and analytics business offerings. The all-cash deal is expected to be completed in September 2024, according to a regulatory filing by the company.??Luc Legardeur, CEO & Co-founder of Zeenea said that incorporating Zeenea’s capabilities with HCLSoftware will deliver a differentiated solution for customers and offer customers a tailored approach to data management.

Wipro Enterprises’ hydraulics business acquires US rival Columbus

In its second acquisition in 4 months, Wipro Hydraulics, the hydraulic cylinder manufacturing business of Wipro Infrastructure Engineering (WIN), has announced the purchase of US rival?Columbus Hydraulics. The deal is aimed at strengthening manufacturing capabilities in North America, the company said in a statement. The cost of the acquisition was not disclosed. Post-acquisition, Columbus Hydraulics will become a wholly-owned subsidiary of WIN.

Novo Nordisk To Hire 1,300 Employees

Novo Nordisk plans to hire 1,300 employees in India, according to John Dawber, Corporate Vice President of Novo Nordisk Global Business Services. It will be adding employees to its global business services in the region. Novo Nordisk will be hiring across the roles of medical doctors, pharmacists, PhDs, statisticians, commercial experts, marketers, analysts, finance and accountants, IT engineers, and architects. The company currently has 4,200 employees, based in India.

NatWest Group plans to triple Bengaluru headcount to 6,000 employees

NatWest Group has announced the lease of a new office in Bengaluru located at Bagmane Constellation Business Park. It plans to hire around 4,000 employees in Bengaluru over the next 2 years following its latest expansion. The seating capacity in the new office will be three times that of the current office, with the opportunity to increase this further. Bengaluru is a key strategic location for NatWest Group in India, alongside Gurugram and Chennai.

PwC India Unveils GenAI Experience Lab in Gurgaon

PwC India has announced the inauguration of the GenAI Experience Lab at their Novus Tower office in Gurgaon, marking a significant step in exploring Gen AI’s transformative capabilities. The new facility aims to provide an immersive experience across various domains, showcasing the potential of Gen AI to revolutionize processes, enhance decision-making, and boost efficiency. Visitors can engage with award-winning prototypes and interact with PwC’s innovators, gaining insights into the practical applications of Gen AI.

EvenFlow promotes sourcing head Shashank Ranjan as its Co-founder

Evenflow, an e-commerce roll-up firm, has elevated Shashank Ranjan as its co-founder. Shashank, who joined EvenFlow in 2022, was the head of sourcing at the company and had earlier worked with brands like Udaan, Decathlon, and Tata Steel. He has been a driving force in improving the efficiency of warehousing and logistics by 50% by drastically improving per-unit storage units, quicker inventory rotation, direct shipments from manufacturing partners to customers, and building flexible processes to scale up operations.

Dell cuts 10% workers in sales team reorganization with new AI-focused unit

Dell Technologies Inc. is cutting jobs as part of a reorganization of its sales teams that includes a new group focused on artificial intelligence products and services. A company spokesperson declined to comment on how many jobs would be affected. “Through a reorganization of our go-to-market teams and an ongoing series of actions, we are becoming a leaner company,” the spokesperson said. Dell previously announced a major workforce reduction in early 2023, shedding 13,000 jobs in that fiscal year.

Ola Electric Mobility shares make flat market debut; later jump nearly 11%???

Shares of EV company Ola Electric Mobility Ltd listed on a flat note against the issue price of ?76 but later bounced back and jumped nearly 11%. At the NSE, shares of the firm are listed at par with the issue price of ?76. Later in the trade, the stock soared 10.80% to ?84.21. The Bhavish Aggarwal-led company's market valuation stood at ?36,742.21 crore during the early trade. The ?6,145-crore IPO of Ola Electric Mobility received 4.27 times subscription on the final day of bidding.

Charles Schwab plans a Technology Development Centre in Hyderabad??

Charles Schwab, a US-based financial services company, will set up its first Technology Development Centre in Hyderabad. The company has taken this decision following talks between the company’s senior leadership and the visiting Telangana delegation, led by Chief Minister A Revanth Reddy. Senior Schwab executives Dennis Howard and Rama Bokka took part in the discussions held at the company’s headquarters in Dallas.

?AtkinsRéalis opens new office in Noida????

AtkinsRéalis Group, a fully integrated professional services and project management company with offices around the world, opened a new office in Noida as part of its Global Technology Center (GTC) in India. The GTC plays an important role in supporting the Company’s global growth strategy by providing capabilities to work alongside the regions to deliver excellence for its clients, driving standardization, resilience, quality, and technical excellence.

IPG Mediabrands opens the global centre of excellence office in Pune??

IPG Mediabrands, the media holding company of US-based ad giant Interpublic Group, opened its largest GCC in Pune, which will house 3,000 employees within 2 years. The Pune facility, which currently has 1,000 employees, will serve as a key hub for media activation, product development, and engineering to over 500 global clients across various industries. IPG plans to hire people from diverse backgrounds, including data scientists and analysts, for the Pune hub.

Comcast plans to set up GCC in Hyderabad

Comcast has announced plans to establish a Global Capability Centre (GCC) in Hyderabad. The center will focus on developing the latest products and solutions in the unified communications domain, enhancing Comcast’s Managed Solutions and Connectivity portfolio. Comcast is now part of Universal Studios. A press release informed that Comcast's decision is a strategic move that could attract further investments from Universal Studios.

RBI Policy: RBI keeps the repo rate unchanged at 6.5% for the ninth time in a row

The RBI-led Monetary Policy Committee (MPC) decided to keep the repurchase rate (repo rate) unchanged at 6.5% for the 9th time in a row. RBI governor Shaktikanta Das, while announcing the decisions of the bi-monthly meet, said that the decision was taken with a majority of 4:2 by the MPC. The MPC continues to expect the Indian economy to grow at 7.2% in FY25, even as it moderated the outlook for the 1st quarter, Governor Das announced. The Indian economy grew at 8.2% in FY24.

Women consider generative AI crucial for career growth: report

As many as 90% of women view generative AI as crucial for career growth, even as only one-third feel prepared to use it, according to a report by Nasscom and BCG. The report found that women are willing to put in extra effort for success with AI and GenAI technology. In particular, 95% of junior, 96% of mid-management, and 100% of the senior management women are ready to invest more time to achieve professional success in GenAI.

Aspire Systems acquires Method4, Strengthening European Presence in Agile Development & Digital Transformation

Aspire Systems has acquired the UK-based Method4, a specialist in agile software development and content management systems, for an undisclosed sum. Method4’s team of 50 professionals will join Aspire’s UK workforce, enhancing its service delivery and client engagement. This marks its 3rd acquisition in Europe, reflecting the company’s focus on growing its European footprint. The acquisition also strengthens Aspire’s footprint in the UK, especially within the public sector, according to a company release.

Altair and L&T Technology Services Launch Digital Twin Center of Excellence to Drive Global Innovation

Altair and L&T Technology Services have announced the creation of a digital twin center of excellence (CoE) in Bengaluru to accelerate digital transformation. This CoE will provide digital twin capabilities to customers worldwide in the mobility, hi-tech, and sustainability sectors.??The CoE will provide advanced digital twin capabilities, enabling organizations to enhance innovation, improve efficiency, and reduce product development cycles.

Amazon India head Manish Tiwary tenders his resignation, ends 8-year association with the company

Manish Tiwary has resigned as the country head of Amazon India after spending 8.5 years at the e-commerce firm. Tiwary plans to take up a new role at another firm and he would remain in Amazon until October, overseeing the company’s festival season, according to sources. The company said Amit Agarwal, SVP of India and Emerging Markets, will remain closely involved with the Amazon India team, guiding its strong bench of leaders to deliver on this opportunity.

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