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
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Copyright ©2008 PodTech.net. All rights reserved. Modified: Sat, 11 Feb 2012 13:49:32 -0800
November 9th, 2006 at 5:28 am
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