Here’s a look at this week’s top 10 tech news.
Dell acquired by Michael Dell and Silver Lake for $24.4 billion
Dell’s founder and CEO Michael Dell along with investment firm Silver Lake agreed to acquire Dell in a deal valued at $24.4 billion. Shareholders will receive $13.65 per share.
“I believe this transaction will open an exciting new chapter for Dell, our customers and team members. We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise” said Michael Dell, CEO and Founder, Dell, in a press release.
C-DAC unveils India’s fastest supercomputer Param Yuva II
Centre for Development of Advanced Computing (C-DAC) unveiled Param Yuva II, India’s fastest supercomputer which will help in weather forecasting along with aiding research in space, bioinformatics, drugs and other vital areas. Param Yuva II was reportedly developed at a cost of Rs. 16 crore and was upgraded to 524 teraflops.
Cerebra Integrated Technologies acquires Cimelia Resource Recovery for $20 million
Bangalore headquartered Cerebra Integrated Technologies reportedly signed an agreement to acquire e-waste recycling firm Cimelia Resource Recovery for $20 million. “We will be amongst the first Global Indian MNC in this sector with one of the finest E-Waste facilities in the world at Singapore.
This acquisition will also help us to build one of the largest facilities in Bangalore, India spread across 1,00,000 sq feet on 10 acres of land” said V. Ranganathan, MD, Cerebra Integrated Technologies in a filing to BSE.
Oracle buys Acme Packet for $2.1 billion
Oracle announced entering into an agreement to acquire session border control technology provider Acme Packet for $1.7 billion.
“The addition of Acme Packet to Oracle’s leading communications portfolio will enable service providers and enterprises to deliver innovative solutions that will change the way we interact, conduct commerce, deliver healthcare, secure our homes, and much more” said Mark Hur, President, Oracle.
The acquisition will allow Oracle to expand its delivery of communication services over IP networks.
Unilazer Ventures to invest Rs. 53 crore in Valyoo Technologies
Valyoo Technologies reportedly raised Rs. 53 crore in funding from Unilazer Ventures, an investment firm owned by Ronnie Screwalla. Peeyush Bansal, Founder and CEO of Valyoo Technologies sees Valyoo Technologies growing into a Rs. 500 crore company in the next two to three years. The e-commerce player owns multiple franchisees including LensKart, WatchKart and BagsKart.
Google to buys Channel Intelligence for $125 million
Google has acquired Channel Intelligence, a specialized marketing services company partly owned by the ICG Group for $125 million.
“For over ten years, we have focused on making it easy for consumers to find and buy products online and help our clients grow their business. We’ve worked with Google for years, and look forward to the great things we will be able to do together” said a post on Channel Intelligence’s website.
The company provides various services that help retailers and brands to maximize their digital marketing assets and capabilities.
Cognizant reports $278.8 million in quarterly net profit
Cognizant Technology Solutions reported a quarterly net income of $278.8 million for the period ending 31 December 2012, up 16.12% from the same quarter in 2011. The Nasdaq listed IT company had quarterly revenues of $1.95 billion as compared to $1.66 billion in 2011. “We are pleased to once again deliver industry-leading revenue growth in 2012” said Francisco D’Souza, CEO, Cognizant.
Genpact acquires Jawood
Gurgaon headquartered BPO Genpact announced the acquisition of Jawood, a Michigan based business services provider to the healthcare payer industry. Genpact expects the deal to strengthen its expertise in the healthcare payer market.
“Genpact’s scale, process excellence, analytical insights, and technology services – combined with JAWOOD’s expertise in systems and business processes unique to payers – will allow us to help many more large healthcare payer organizations make their operations more effective, and thus address the many sweeping regulatory changes that will be implemented this year and beyond” said Tiger Tyagarajan, President and CEO, Genpact.
iTunes Store sells 25 billionth song
Apple’s iTunes Store created a record of sorts by selling the 25 billionth song, Monkey Drums downloaded by a user in Germany who will receive a €10,000 iTunes Gift Card. “We are grateful to our users whose passion for music over the past 10 years has made iTunes the number one music retailer in the world” said Eddy Cue, Sr VP, Apple, in a press release. Users are downloading an average of 15,000 songs per minute from the iTunes Store.
Bharti Airtel to buy out Alcatel Lucent’s stake in India JV
Bharti Airtel will reportedly buy out the entire shareholding in its JV with Alcatel Lucent. India’s largest cellular services provider will introduce a new business model to manage fixed line and DSL broadband networks.
“The formation of this new model is a step in that direction and will leverage the core competencies that Alcatel Lucent Managed Network Service India has built over time” said Munish Seth, President & MD, Alcatel-Lucent India.