Industry

NetMagic to Expand

NetMagic has acquired Rs 80 crore in private equity funding. This funding was
led by the Indian proprietary venture and growth capital arm of Fidelity
International (FIL) and Nexus India Capital, Indias leading venture capital
firm. NetMagic will use proceeds of this financing to accelerate business growth
and expand its footprint in the domestic and international markets.

New Structure at TCS

Tata Consultancy Services has announced plans to organize its global operations
into integrated, customer-centric units to enhance customer focus, drive
operational agility and address new growth opportunities in the market. This
structure will also provide more opportunities for leadership growth at all
levels in the organization.

Citrix Kicks off Program

Citrix Systems has announced the 2008 Citrix Partner Accelerator Program,
which is being held in six major cities across the Pacific region in Sydney,
Kuala Lumpur, Tokyo, Mumbai, Seoul, and Beijing from February 18 to March 11,
2008. Aptly themed Deliver Together, the 2008 Partner Accelerator Program
underscores the commitment of Citrix to its partners and customers in the
Pacific region.

ISA Signs MoU with SEMI

The India Semiconductor Association (ISA) has signed a memorandum of
understanding (MoU) with Semiconductor Equipment and Materials International
(SEMI). The agreement lays the groundwork for exchange of market information,
and membership benefits among the respective associations.

Tata Elxsis Visual Effects for Jodha Akbar

Visual Computing Labs (VCL), a division of Tata Elxsi, has announced that it
has rendered the exclusive visual effects for Jodha Akbar. Over 200 shots were
meticulously planned during pre-production in computer-generated imagery (CGI)
for the three battle sequences in the movie.

Mistral Solutions Raises $6.5 mn

Mistral Solutions has raised $6.5 mn in a second round of venture funding
from Nexus India Ventures and JAFCO Asia. The investment will help accelerate
the companys global expansion and also facilitate its product and IP
development initiatives.

HCL Comnet Probes Sexual Harassment Case

An inquiry committee formed by HCL Comnet is investigating a sexual
harassment complaint and criminal intimidation against three of its senior
executives. The committee was formed after a woman employee of the firm, who was
served a notice of indiscipline and non-performance, accused the executives of
making obscene suggestions to her and also intimidating her mother.

MindTree Bags Nasscom Innovation Award

IT and R&D services company MindTree Consulting has been awarded the Nasscom
Innovation Award 2007. The award recognizes organizations that come up with new
ideas, products, processes, or technologies that create business impact. A panel
of senior Indian business executives found MindTree to be innovative in
knowledge management (KM).