Industry

IBM Under Anti-trust Probe

IBM has come under two anti-trust probes from the European Commission (EC)
for abusing its dominance in the computer mainframe market. The EC already
initiated formal anti-trust investigations against IBM in two separate cases of
alleged infringements of EU anti-trust rules related to IBMs conduct in the
market for mainframe computers.

Dell to Pay over $100 mn

Michael Dell, founder of Dell, and some former executives agreed to pay more
than $100 mn to settle a disclosure accounting fraud lawsuit filed by the
Securities and Exchange Commission (SEC). The SEC had accused Michael Dell;
Kevin Rollins, former CEO; and James Schneider, former CFO for allegedly
breaking disclosure laws.

The $35 Laptop

In a move that will bring about a sweeping change in education across the
country, the Ministry of Human Resource Development unveiled a low cost tablet
PC with a price tag of Rs 1,500 or $35 only. The Prototype with Android OS is
already ready. The device was developed by research teams at Indias premier
technological institutes and will be available by 2011.

Center Approves Rs 626 crore for State Treasuries

The Government of India has approved a Rs 625 crore project for
computerization of state treasuries across the country on a mission mode. The
scheme is to be implemented over a three year period beginning 2010-11.

Mahindra Satyam Wins in Upaid Settlement

Mahindra Satyam, who agreed to pay $70 mn as settlement payment to Britain based
Upaid Systems last December, claims to have won a New York court ruling to
withhold taxes from the settlement amount. The Supreme Court of New York denied
a motion brought by Upaid that it was entitled to receive the full amount, and
said it must co-operate with the escrow agent, IDBI Bank to allow Mahindra
Satyam to hold back any applicable taxes.

Indians Hack Pakistani Website

A Pakistani television channel claims that Indian hackers have broken into
the website of the Pakistan Press Foundation (PPF). The PPF is an independent
media research and training center designed to promote and defend the freedom of
press, and raise social and political awareness in Pakistan.

Punjabs Police Department Website Hacked

The official website of Punjab provinces police department was hacked by
Indian hackers in July, who removed the names of Punjab chief minister, Shahbaz
Sharif and the police chief; and posted some Indian slogans on it.

MakeMyTrip Jumps 90%

MakeMyTrip has made a dream debut in the US market with its shares soaring over
90% hours after its listing on the leading American stock exchange, NASDAQ. The
company has raised $70 mn at an Initial Public Offering (IPO) of 5 mn shares to
the US investors. At an offer price of $14 per share, the company was valued at
close to $480 mn, prior to the listing. But, after the surge in stock price, the
valuation has jumped to around $800 mn with shares closing at $26.45 on the
NASDAQ. The company had recently acquired Ticketvala.com.

Indian IT-BPO Industry to Cross $70 bn

Nasscom, the chamber of commerce of IT-BPO industries in India, projected that
the Indian IT-BPO exports will grow by 13-15% while the domestic IT-BPO is
expected to grow by 15-17% during FY11. Together, the Indian IT-BPO industry is
expected to exceed $70 bn in FY11.

Genpact Expands Leadership in Asia

Genpact announced that it has bolstered its leadership team in Asia to
strengthen its growth strategy in China and Japan, including a focus on the
China-to-China market. Charles Hunting has been appointed as CEO, Asia,
reporting to president and CEO, Pramod Bhasin.

First Bluetooth Test Facility in India

Wipro Technologies has been recognized as Indias first bluetooth qualification
test facility by the Bluetooth Trade Association. Bluetooth wireless technology
which helps exchange data over short distances will be used by Wipro to perform
Bluetooth qualification conformance or compliance tests. Bluetooth qualification
is the certification process required for any product using Bluetooth wireless
technology and a pre-condition of the intellectual property (IP) license for
Bluetooth technology.

Symantec Survey on Information Protection

Symantec Corporation has released the India findings of its 2010 Global SMB
Information Protection Survey. The survey reveals that SMBs (with ten to 499
employees) are aware of the need to adopt a complete information protection
strategy that goes beyond a basic anti-virus solution. 67% of the respondents
cited data loss as the key concern area and 60% consider cyber attacks as a
potential business risk.

HCL Info Launches Converged Hand-held Gaming Consoles

HCL Infosystems for the first time in India has introduced the concept of
converged hand-held gaming consoles to the Indian kid-gamers with the launch
of HCL ME X15 and Z15. With the best assorted brain training games, the new HCL
ME hand-held gaming devices are going to be available at highly affordable
prices ranging from Rs 3,799 to Rs 4,990. All HCL ME gaming consoles are built
on green technology and the products are 100% recyclable with ROHS and CE
compliance.

24/7 Customer Contact Center in Nicaragua

24/7 Customer, the global leader in predictive interaction solutions,
announced the launch of its contact center in Managua, Nicaragua. The company
set up its tenth center world-wide to deliver voice based inbound customer
support service. Located in Accedo Technology Park, it currently employs nearly
150 people with plans to ramp upto 1,000 people in the next twelve to eighteen
months.

Subex to Raise Rs 64 crore

The board of directors of Subex has approved a preferential allotment of
shares wherein a maximum of 8 mn shares will be issued at Rs 80 per share after
obtaining necessary approval from the shareholders during the AGM on September
13. The move will fetch up to Rs 64 crore as it claims.

Cleartrip CEO Arrested

Eight months after online travel company, Travelocity India filed a FIR
against Cleartrip accusing it of data theft, Stuart Crighton, CEO, Cleartrip
along with Amit Taneja, former CEO, Desiya Online Travel Distribution were
formally arrested in Gurgaon. However, they managed bail immediately.