Larsen & Toubro Infotech Ltd, the software services arm of engineering giant Larsen & Toubro Ltd, has agreed to acquire Luxembourg-based Syncordis SA along with its subsidiaries in France, the UK and India.

The deal value is €14.65 million ($17.28 million) for Syncordis and €350,000 ($0.4 million) for its Chennai-based arm, Syncordis Software Services India Pvt Ltd, on a cash-free, debt-free basis.

L&T Infotech also said that it may pay an additional €13.50 million ($16 million) over four to five years depending on the target company’s performance. The Indian company said that the purchase of Syncordis, a banking software solutions provider, will enhance L&T Infotech’s footprint in India and Europe’s financial services market.

Sanjay Jalona, CEO and Managing Director, L&T Infotech, said that the global banking IT spend is likely to grow in the coming years and several banks are investing in core banking modernisation programmes, especially in Europe.

He said: “This is a very synergistic move for us because Syncordis is one of Europe’s leading core banking implementation service providers with blue-chip clients and exclusive expertise to help with faster implementations.”

India Investment Journal’ has in-depth coverage on related topics.

Noida-based IT services company HCL Technologies announced a five-year IT infrastructure services contract with Jardine Lloyd Thompson Group (JLT), one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services.

Under the agreement, HCL will be implementing a fully orchestrated and automated cloud management platform with advanced automation capabilities, supported through HCL’s DRYiCE platform. In addition, HCL will continue to provide IT service desk services.

HCL said its knowledge of this complex technology landscape had led to the renewed agreement to drive further modernisation across JLT’s operating environment and lay the foundation for a global hybrid cloud platform. As part of the move, the London-headquartered company plans to reduce its data centre footprint by more than 50 per cent, by implementing an all-flash storage array and cloud-based backups.

Conor Whelan, Group CIO, Jardine Lloyd Thompson Group, said: “We are now further investing in modern, agile and scalable technology to transform our infrastructure with automation capabilities.

“The roadmap that HCL has laid out will deliver a significant improvement of the current infrastructure provisioning model to achieve a faster and more cost-effective service, supporting enhanced times-to-market for business and enabling JLT to give a truly global service to our customers.”

'India Global Business’ has in-depth coverage on related topics.


Japanese semiconductor manufacturer ROHM plans to foray into the Indian market with its low power and energy efficient power supplies to meet the growing demand for electric vehicles and other hybrid-electric-vehicles (xEV).

It is a major supplier of auto-electronic components providing energy efficient power solutions for xEV. The drive towards eco-friendly mobility across the world means that electric vehicles are a key focus area for the company.

ROHM announced the availability of new power supply IC based on Nano Pulse Control Technology for the Indian market, a 2MHz switching regulator with built-in MOSFET that achieves the highest step-down ratio in the industry. This is required for 48V automotive systems such as mild hybrid vehicles.

The Japanese manufacturer is a key player in consumer electronics, with an array of power devices for set-top boxes, smartphones, and home infotainment to name a few.

Nakamura, Managing Director, ROHM Semiconductor India, said: "Combined with the years of experience from the global markets, and a strong local sales and support organisation, we are all set to play a vital role in the Indian electric vehicle revolution.”

India Investment Journal’ has in-depth coverage on related topics.

Kanpur-based dairy company Tasty Dairy Specialities Limited has collaborated with Dutch consortium PUM Netherlands to establish INDUCED (Indo-Dutch Centre of Excellence in Dairying) in Kanpur.

Atul Mehra, Chairman and Managing Director (CMD), Tasty Dairy, said: “Our previous programme was aimed at developing the knowledge and skills of street vendors of food products. This time, we are working for the growth of dairy farming in India and have roped in PUM Netherlands to work with us in building a roadmap to sustainable development of dairy farming.”

The new centre fits with the overall agenda of Uttar Pradesh chief minister Yogi Adityanath to boost the dairy sector for supplementing rural incomes and thus contributing towards the ultimate goal of Indian Prime Minister Narendra Modi to double farmers’ incomes by 2022.

The main objectives of this Indo-Dutch collaboration are to establish a centre of excellence in dairying that could be a blueprint for others, increasing skills of small scale dairy farmers, training 25 medium-sized dairy farmers per year. The move would be geared towards establishing a medium size model dairy farm, which could be used for training farmers and field workers and enhancing the performance of the dairy plant by increasing efficiency and diversifying product lines.

India Investment Journal’ has in-depth coverage on related topics.

Biocon's contract research arm, Syngene International, has expanded its ongoing drug discovery and development with US-based Bristol-Myers Squibb till 2026.

Syngene International said in a Bombay Stock Exchange (BSE) filing: "The next phase of the partnership will see the addition of a new facility to support future Bristol-Myers Squibb research and development operations, an expansion of the team and the extension of the existing agreement through 2026.”

The expansion will enable the two companies to undertake a greater range of scientific research and development for pharmaceuticals across a broader range of activities.

Syngene’s new dedicated facility will be spread across 25,000 sq ft of laboratory and office space for Bristol-Myers Squibb. It will house an additional team of 75 Syngene scientists who will work exclusively for Bristol-Myers Squibb.

Biocon BMS Research Center (BBRC), Syngene's first dedicated R&D centre, was established in 2007, which was subsequently renewed through 2020 and now has been extended till 2026.

It is the largest research and development facility for Bristol-Myers Squibb outside the United States and plays an integral part within their global research and development network.

'India Global Business’ has in-depth coverage on related topics.

Vodafone India and Idea Cellular Ltd have agreed to sell their standalone tower businesses in India to the local unit of American Tower Corp (ATC) for an aggregate enterprise value of Rs 7,850 crore ($1.2 billion).

If the sale goes through before the merger of Vodafone India and Idea, Vodafone India will receive Rs 3,850 crore ($592 million) and Idea will receive Rs 4,000 crore ($615 million).

The standalone tower businesses of Vodafone India and Idea are situated across the country and include around 20,000 towers and have a combined tenancy ratio of 1.65 times as at June 30, 2017.

Idea will sell its entire stake in ICISL and Vodafone India will sell business undertaking to ATC TIPL, a majority owned subsidiary of American Tower Corporation, to implement the deal.

After Vodafone India and idea have completed their merger, the merged company will remove about 6,300 base stations from these towers as part of the consolidation of the network. This will be done over two years without the payment of exit penalties.

The deal is expected to close during the first half of calendar year 2018.

India Investment Journal’ has in-depth coverage on related topics.

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