Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised more than $14 billion in capital and provides equity and credit for growth, recapitalizations and management buyouts. Summit Partners has offices in Boston, Palo Alto, London. The company has today (15 Feb 2012) announced that it…
HCL BPO, employs about 800 people in operations in Belfast and Armagh in Ireland. It is reported that of these 425 staff have been put on 90-day notice. This comes from a decision to close an office in Northern Ireland’s Armagh and cut staff in Belfast. The company expects to save about 170 of those…
Future Group Selects Cognizant for End-to-End IT Infrastructure Services Support to Sustain High Velocity Growth and Drive Business Transformation Cognizant, one of the leading provider of IT, consulting, and business process outsourcing services, announced that it has entered into a five-year, multimillion dollar engagement with Future Group, India’s largest multi-format retail group. As a part…
Firstcry.com (Brainbees Solutions Pvt Ltd), an online retailer selling babycare and maternity product has received a series B investment of $ 14 Million by IDG Ventures & Saif Partners. The company had received $ 4 Million by SAIF partners in its initial round of funding in May 2012. Brainbees, also sells cosmetics and personal hygiene…
Telecom major Vodafone has appointed Max India founder, Mr Analjit Singh, as the non-executive Chairman of its India operations. The appointment is effective February 16, 2012, following formal approval from the board of Vodafone India. Mr Singh, a leading industry figure, is the founder and Chairman of Max India as well as its subsidiaries like…
It has been confirmed that Flipkart is buying out Letsbuy.com. Flipkart is the largest online retailer in India, and letsbuy.com has been a strong player in vertical – consumer electronics, gadgets retail, since its starting up in 2009. It is reported that – “The acquisition is a combination of cash and equity and the…
It seems that Flipkart is on way to acquire LetsBuy*. Flipkart had started as an online retailer of books, and has diversified into almost all key segments including consumer electronics, appliances, gadgets etc. Flipkart, has been rising steadily and growing fast, its initial growth was built on its reputation around efficient service and its cash…
Jubilant Foodworks would be setting up its first Dunkin Donuts store in Delhi early this year. The company had got into a master franchisee agreement with Dunkin Donuts last year. The master franchise agreement calls for Jubilant Food Works to develop, sub-franchise, and operate more than 500 Dunkin’ Donuts restaurants throughout India over the next…
Batelco Group Announces the Sale of its stake in STel India 8 February 2012: Batelco Group (Bahrain Telecommunications Co), the Middle Eastern regional telecommunications operator, today announced its agreement for the sale of its 42.7 % shareholding in STel Private Limited (STel), a mobile operator in India. This is a part of an earlier understanding…
Nokia plans changes to its manufacturing operations to increase efficiency in smartphone production. The changes are anticipated to impact approximately 4,000 employees in total. February 8, 2012, Espoo, Finland – Nokia has today announced planned changes at its factories in Komarom, Hungary, Reynosa, Mexico and Salo, Finland. The measures follow a review of smartphone manufacturing…
This news seems to be a part of an on going shake up of Yahoo Inc. that started with the resignation of the Yahoo co-founder Jerry Yang last month, and the appointment of the former eBay executive Scott Thompson as the CEO. Yahoo Inc., Chairman Roy Bostock and three other directors are expected step down…
Pfizer Ltd. (Indian operations of Pfizer Inc.) board has approved the sale of its animal health division to a wholly owned unit for about Rs. 440 Cr. ($90 million). The move is seen to be a part of the U.S. parent’s aim of reorganizing its operations in a manner that will give it the most…
VE Commercial Vehicles Limited (Volvo Group and Eicher Motors JV) did the ground breaking ceremony of the upcoming Eicher bus manufacturing plant near Indore at Dhar, Madhya Pradesh on 6th Feb 2012. The plant is being set up with an investment of INR 125 Crores in the first phase and would commence production by 2nd…
Cognizant to augment its campus in Kochi: Cognizant, is expanding its operations in Kerala by leasing 15 acres of land at the Kochi Infopark campus. When fully completed, Cognizant’s new campus in Infopark Phase II will have the capacity to accommodate around 12,000 professionals. The first phase is being built at a cost of approximately…