TVS Motor Company, an Indian-multinational motorcycle company, has announced the acquisition of Britain’s iconic sporting motorcycle Norton in an all-cash deal for 16 million pounds (about Rs 153 crore). TVS Motor will acquire certain assets of Norton Motorcycles UK Ltd through one of its overseas subsidiaries. “The deal will reflect TVS Motor Company’s and India’s…
As the novel coronavirus pandemic led to the world’s largest work-from-home experiment, video conferencing apps like Zoom and Google Meet saw a sudden rise in their user database. Organizations around the world are now moving ahead with their daily tasks via video conferencing through these apps. But their usage has also drawn severe criticism from…
With the impact of COVID-19 continuing to spread, customers and partners are navigating through uncertainty and complexity. To help the channel partner community serve their customers better, Dell Technologies announced ‘Partner Relief Package’, to provide financial relief. Dell will provide immediate financial relief to metaled partners, while helping them build capabilities and pipeline for the…
In view of the challenges thrown by COVID19 outbreak and consequent lockdown, the Government of India recently took a major decision to provide relief from payment of rental to the small IT units operating out of the Software Technology Parks of India (STPI). Most of these units are either Tech MSMEs or startups. The Ministry…
Bajaj Healthcare Limited (BHL), one of the leading manufacturers of API and formulations, has announced that it has received FDA approval for manufacturing Hydroxychloroquine Sulphate Bulk Drug and formulation for its tablets. Hydroxychloroquine Sulphate has been recommended by several countries, including the US, with limited dosage for Covid-19 patients and as a- preventive for high-risk…
upGrad, an online higher education platform, has earmarked Rs 50 crore for acquiring two-three peers during the current fiscal, the company said to the PTI. However, the company did not disclose the name of the companies that it plans to acquire. “We are in active discussions. There are some interesting opportunities in these times and…
Adventure camera maker, GoPro, recently announced that it has done massive organizational changes at the company. Taking into account the impact of the coronavirus pandemic, the company is laying off 20% of its workforce to conserve cash. GoPro has announced a $100 million reduction to 2020 operating expenses including a workforce reduction of more than…
Social commerce startup Meesho has reportedly laid off more than 200 employees of its 700-strong workforce. According to a recent report by the news website Entrackr, in an attempt to conserve cash during the pandemic, the startup has laid off over 200 employees just days after entering into the grocery delivery business. According to the…
The novel coronavirus outbreak which originated in China, has now spread to almost every corner of the world and has led to the world’s largest work-from-home experiment. With employees working remotely and communication getting hampered by distances, there has been a surge on the usage of video conferencing apps like Google Meet, Microsoft Teams and…
Since the Government of India imposed a nationwide lockdown to prevent the transmission of the novel coronavirus, the movement of goods has to come to a halt. Due to the lockdown, several logistics companies have started to lay off employees in an attempt to conserve cash. In recent news, online logistics solutions provider BlackBuck is…
The airline industry has long been in a soup due to the novel coronavirus outbreak. But things got even worse for the sector post the governments imposing nationwide lockdowns and travel-bans. It is being predicted that if the lockdown gets extended any further, several budget carriers will have to file for bankruptcy. In an attempt…
Infineon Technologies AG announced the closing of the acquisition of Cypress Semiconductor Corporation. The San José-based company has become part of Infineon effective as of the closing. “The acquisition of Cypress is a landmark step in Infineon’s strategic development,” said Infineon CEO Reinhard Ploss. “Together, we offer our customers the industry’s most comprehensive portfolio for…
Bsquare Corporation, a builder of technology that is powering the next generation of intelligent devices and systems, announced the receipt of $1.6 million in funding from the Paycheck Protection Program (PPP). The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses in the US to keep their workers on…
Stripe, a U.S. fintech startup, has said it has raised $600 million as companies that are providing financial and payment services via online are witnessing a surge in these times due to the coronavirus pandemic. “The pandemic is accelerating the trend as more customers look to pay without contact and use banking services without stepping…
As the coronavirus pandemic continues to impact the lives of many people around the world in numerous ways, businesses that have seen their sales funnels and cash flows depleting are taking strong measures to ensure the survival and continuity of business. Shop101, a Mumbai-headquartered social commerce company has asked nearly 40% of its 450 employees…