Weekly Tech News Round-Up from India

04:44 | Kamla Bhatt | Nov 8th, 2006 9:02pm |

Stepped up activity is the underlying theme of this week’s tech round-up on India.

There is stepped up activity in VC funding in India. Two 10-year old companies received $10 million this past week. Sulekha, an Indian social networking site received $10 million in funding from Norwest Venture Partners. And for the first time an outdoor media company recieved funding for its operations. Laqshya Media Private Limited received $10 million in funding from UTI Ventures.

There is lot of action in the merger and acquistion space. Among the various M&A deals two stand out in particular. This is the acquistion by two IT and BPO services company: Tata Consultancy Services and Hexaware Technologies. TCS has acquired a majority stake in TKS-Technopek and Hexaware acquired FocusFrame in an all cash deal.

In the mobile and telecom space Nokia bagged a three year managed network contract deal from India’s largest mobile provider Bharti Airtel. US mobile company Motorola is expanding its footprint in India when it opened its sixth R&D facility in the southern city of Hyderabad in the state of Andhra Pradesh.

Tags: Sulekha, Norwest Venture Partners, Tata Consultancy Services, Hexaware Technologies, Bharti Airtel, Andhra Pradesh

This entry was posted on Wednesday, November 8th, 2006 at 9:02 pm and is filed under PodTech, Enterprise 2.0, India, Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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