Page 6 - Technology Industry

Leo Capital to launch third fund to provide financing to Indian start-ups

The proposed fund comes on the back of deploying two funds totalling $106 million

AGS Transact Tech to use Rs 600 cr of IPO proceed to retire debt

AGS Transact Technologies, which leads the online payments space at fuel stations and is among the largest players in ATM and cash management services, will use Rs 600 crore of the Rs 800-crore-fully offer-for-sale issue to retire debt. Ravi Goyal, chairman & managing director of AGS, told PTI that the company has Rs 1,100 crore mostly long term debt, and post-IPO, it will come down to around Rs 500 crore as they will pay back Rs 600 crore and the remaining Rs 200 crore will come to the company. Currently, Goyal and his family own 95 per cent of the city-based firm, and the rest is with employees through Esops. The merchant bankers are yet to arrive at a valuation, which will decide how much the promoters will dilute their stake, he said. Goyal said debt rose after he bought out private equity firms Actis and TPG in 2018, which had invested Rs 410 crore in 2012 for 42 per cent equity. In 2018, they were bought out for Rs 450 crore. The Rs 800-crore IPO consists of Goyal selling 8

Google to launch Android 12L soon, OS suitable for bigger screens

As per GSM Arena, Android 12L will become available early next year, in time for the next wave of Android 12 tablets and foldables.

Trifecta Capital invests Rs 400 cr in 4 Indian technology companies

Trifecta Capital on Wednesday said it has invested Rs 400 crore (about USD 53 million) across four companies

Our order book has been impressive at $360 million: Mindtree MD & CEO

Debashis Chatterjee discusses the strategies that have worked and the road ahead

India second-largest technology hub for Amazon globally: India Head

India is the second-largest technology hub for Amazon globally and its teams are powering innovations not only for customers in the country but globally as well, a top company executive said.

Qentelli to hire over 500 tech professionals in India by 2021-end

Global technology company Qentelli on Thursday said it is planning to hire over 500 professionals in India by the end of this year to meet the demands of its new business wins.

Global wearable band market grew 5.6% in second quarter: Report

Apple now accounts for 31.1 per cent of the smartwatch market

IIT Guwahati researchers make breakthrough in computer memory architecture

The researchers have made fundamental contributions to memory architectures

Cloning overcomes prejudices

The development and popularisation of this technology can be a boon for the Indian livestock sector, which relies heavily on buffalo milk

Skills are the new currency across businesses: IBM India's Sandip Patel

New skill requirements continue to emerge, while other skills are becoming obsolete, says Patel

Integrating technology with inclusive delivery holds key to recovery: FM

Sitharaman said that India has made this platform freely available to all countries given the country's firm belief that humanitarian needs outweigh commercial benefits.

Technology companies help pull stocks broadly lower on Wall Street

Stocks fell broadly in early trading on Wall Street Thursday as traders turned cautious following a series of record highs for major U.S. indexes. The S&P 500 pulled back 1.3per cent, and about 95per cent of the stocks in the index were lower. Technology companies were having some of the biggest losses, which helped pull the Nasdaq composite down 1.5per cent. Bond yields continued to fall as traders worried that the Federal Reserve will start withdrawing some of its measures supporting the economy. The yield on the 10-year Treasury note fell to 1.30per cent. It traded as high as 1.74per cent at the end of March.

200,000 tech support scams detected in India in Q1 2021: Report

Tech support fraud remains a massive issue in India.

1 bn smartphones to have wireless charging globally by 2021-end

Nearly one billion smartphones worldwide will have the wireless charging by the end of this year, according to new research.

Jim Whitehurst steps down as IBM president in just 14 months

In a surprise development, IBM has announced that Jim Whitehurst has decided to step down as President of the company just 14 months after joining in that role.

Indians need to improve both soft and technical skills, shows data

India's overall rank in the report was 67 globally, with 38% proficiency

During Covid, digital tech helped us cope, connect, and console: PM Modi

VivaTech is one of the largest digital and startup events in Europe, held in Paris every year since 2016.

How technology helped remote audiences to soak in Roland-Garros culture

Artificial intelligence, video analytics and virtual reality brought alive matches at the French Open tennis to remote audiences

'Mumbai model' demonstrates how tech can facilitate battle against Covid-19

The adoption of technology enabled India's financial capital to fight the pandemic's second wave efficiently