Page 10 - Tech Companies

Indian IT crosses $200-bn revenue mark, hits $227 bn in FY22: Nasscom

The industry added 450,000 new hires in FY22, the highest ever taking the total direct employee base of the industry to 5 million.

Cleantech start-up Sistema.bio raises $15 million in Series B round

Financing will strengthen partnerships and distribution, carbon reduction activities, R&D efforts and overall operations in LATAM, Africa, and Asia-Pacific

Birlasoft's net profit jumps 18.2% to Rs 114 crore in December quarter

The IT services company had posted a profit of Rs 96.4 crore in the October-December 2020 period

Coforge Q3 consolidated net profit jumps over 50% to Rs 184 crore

The company had posted a net profit of Rs 122 crore in the year-ago period

o9 Solutions' valuation crosses $2.7 billion after $295 million funding

o9 Solutions raises $295 mn funding from General Atlantic, others

Google overhauling its plans for targeted online advertising: Report

The proposal is an outgrowth of Google's plan to phase out a user-tracking technology called third-party cookies in 2023

European Union warns tech companies of incoming child sex abuse rules

The legislation would require tech companies to report child sexual abuse material to authorities

Smartron Group secures up to $200mn capital commitment from GEM Group

Smartron has signed an agreement with Global Emerging Markets Group (GEM), wherein the alternative investment organisation will provide a share subscription facility of up to USD 200 million

Apple to extend in-app purchase deadline for online group, event apps

Apple has again extended its deadline requiring online group and event apps to comply with the company's in-app purchase policy.As per The Verge, apps in this category can now use alternate payment options until June 30, allowing them to skirt Apple's 15 to 30 per cent cut which the company takes out of in-app purchases."In 2020, we chose to support apps and developers that needed to adapt services from in-person to digital as a result of the COVID-19 pandemic. Given the recent resurgence of COVID and its continued impact on in-person services, we've extended the most recent deadline," Apple wrote in its developer's blog post.Apple introduced changes to its in-app purchase policy in September 2020, clarifying apps that provide "one-to-few and one-to-many real-time experiences," such as online classes and virtual group events, must process payments through in-app purchases.However, the company changed its rules to permit "person-to-person experiences" consisting of just two people, ...

Q3 report card: Mid-cap IT services companies outdo large peers

These players also have managed the supply-side constraints

Facebook, Google face tighter ad-tracking restrictions in Europe

However, lawmakers voted against completely banning targeted ads

Activision sexual misconduct fallout prompted Microsoft to pursue deal

The goal, according to a person familiar with the matter, was to offer support to a key partner and make it clear that Microsoft had concerns about the treatment of women at Activision

Newgen Software Q3 consolidated net profit up 35% to Rs 48 crore

Newgen Software Technologies on Tuesday said its consolidated net profit increased about 35 per cent to Rs 47.8 crore in December quarter 2021-22. The company also announced the acquisition of Number Theory Software. Newgen registered a net profit of Rs 35.41 crore in December quarter 2020-21. Revenue from operations grew 9.1 per cent to Rs 202.5 crore in the third quarter of 2021-22 from Rs 185.51 crore in the year-ago period, Newgen said in a regulatory filing. In a separate filing, Newgen said its Board has approved the purchase of 100 per cent of the paid-up equity shares of Number Theory Software from its existing shareholders, Tarun Gulyani and Rajan Nagina. Post completion of the acquisition - which is subject to customary conditions precedent - the target company will become a wholly-owned subsidiary of Newgen, it added. "Newgen will be making a closing payment aggregating to approximately Rs 7,02,73,340 to the promoters of target company towards 100 per cent of the equity

TSMC raises revenue growth projections due to global chip shortage

It intends to spend $40 billion to $44 billion expanding and upgrading capacity in 2022

2021 record year for Indian tech investments, Bengaluru in world's top 5

The year 2021 was a record one for venture capitalist (VC) technology sector investments in India, which jumped from ranking fourth globally in 2020 to third, according to new research released in London on Thursday. The analysis conducted jointly by London & Partners and Dealroom.Co found that Bengaluru continued to lead India's tech charge, attracting USD 18.6 billion to rank fifth in the world's top global cities for tech VC investment. Overall, Indian tech VC investment grew nearly three times from USD 14.9 billion in 2020 to USD 44.6 billion in 2021 a year of a worldwide record high for such investments at USD 675 billion. The UK ranked fourth with USD 39.8 billion, with capital London also in fourth place just ahead of Bengaluru as the world's top tech hubs with USD 25.5 billion. The record venture capital investment figures for the UK and India in 2021 demonstrate that tech and innovation are thriving across both regions. With an increasing number of unicorns and exciting .

Firms can improve product affordability through tech intensity: Nadella

Nadella noted that organisations globally are undergoing digital transformation amid the Covid pandemic

Apple to allow third-party app payment option in South Korea

The Korea Communications Commission (KCC) had requested Apple and Alphabet's Google to submit compliance plans

Former US head of Sony PlayStation launches $225 million gaming SPAC

Jack Tretton, who started his career at Sony in 1995, is now the CEO of PowerUp Acquisition Corp.

Green energy goals achievable with right steps taken now: Sunil Mittal

Mittal said the telecom sector as a whole was working to become carbon neutral by 2030, and at India's scale, even reaching 80% of that would be a huge achievement

Revenues of Indian public tech firms grew 4.5% QoQ, 17.8% annually: Nasscom

Digital and cloud the key drivers, with the share