Cognizant to Acquire Digital Experience and Marketing Expert Netcentric

Cognizant (NASDAQ: CTSH) today announced it has entered into an agreement to acquire Netcentric, a leading provider of digital experience and marketing solutions for some of the world's most recognised brands, and a leading independent Adobe partner in Europe.

Netcentric's digital marketing teams in the United Kingdom, Netherlands, Switzerland and Germany, as well as regional delivery centers in Barcelona and Bucharest, will enhance Cognizant's ability to deliver business critical digital experience solutions for clients in Europe and around the world. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of closing conditions, including German regulatory review. Financial details were not disclosed.

Headquartered in Zurich, Netcentric works with leading brands such as Allianz, Mercedes-Benz, Miles & More, Raiffeisen, Swisscom and UBS, helping them personalise and deliver engaging digital experiences to customers. At the close of the acquisition, approximately 380 digital marketing specialists from Netcentric will join the Cognizant Digital Business practice, which addresses clients' needs to redefine business models, innovate products, deepen market intelligence and enhance digital experiences to drive growth and efficiencies in their businesses.

"The rapid growth of our business is driven by clients who understand that flourishing with the new digital economy requires merging marketing and digital concepts powered by more flexible IT that is delivered globally," said Elian Kool, CEO, Netcentric. "By joining forces with Cognizant, we will be able to integrate marketing, technology, analytics and AI to help clients provide personalised experiences across multiple channels and enable their digital transformation."

"We are excited about the Netcentric acquisition as it underscores our commitment to our clients across Europe and enhances our portfolio of digital capabilities in the interactive and digital marketing space," said Gajen Kandiah, President, Cognizant Digital Business. "It also further extends our Adobe Experience Cloud presence for the global brands we serve. We continue to expand on the digital marketing and experience skills our clients demand, and round out our ability to deliver these services to the market at scale."

About Netcentric
Netcentric, a leading service provider, transforms customer experiences for the world's top brands by unleashing the full potential of the Adobe Experience Cloud. We support clients throughout the entire process chain - from consulting and development through to marketing operations - helping them execute their digital strategy. Our leadership in the industry is rooted in our expertise in integrating the Adobe Experience Cloud technology to build scalable, bespoke and future proof solutions. By bridging the gap between marketing and technology, clients are able to drive automation to maximise their digital marketing performance. www.netcentric.biz, follow us @NetcentricHQ

About Cognizant 
Cognizant (NASDAQ-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 205 on the Fortune 500 and is consistently listed among the most admired companies in the world.

Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the anticipated closing of the acquisition of Netcentric by Cognizant and expectations regarding the impact of such acquisition on the business and prospects of Cognizant and Netcentric. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

Flipkart eyes more acquisitions, in talks with Swiggy, UrbanClap, UrbanLadder

Armed with over $4 billion in cash, India’s most valuable start-up Flipkart Ltd is planning more start-up investments and acquisitions as it seeks to widen its slender lead over Amazon India and diversify its business.

Flipkart has held talks to invest in food-delivery app Swiggy, services firm UrbanClap, furniture retailer UrbanLadder and some start-ups in insurance and wealth management, said three people familiar with the matter, speaking on condition of anonymity.

Mint had reported on 15 October that Flipkart was in talks to buy a large minority stake in Bookmyshow in a deal that may value the ticketing platform at $500-700 million.

The talks with the companies mentioned above haven’t yet materialized into deals.

Flipkart’s merger and acquisition (M&A) approach marks a shift from its strategy of 2014-15, when it sought to build a venture capital-like portfolio by investing prolifically. In those two years, Flipkart invested in or bought more than a dozen companies, including fashion retailer Myntra, trucking marketplace Blackbuck and advertising tech start-up AdIquity. Many of these were financial investments rather than deals that would boost the company’s business.


Now, Flipkart is only seeking large, strategic deals that will directly help its business, the three people cited above said, requesting anonymity.

Recent regulatory filings also confirm the shift in Flipkart’s approach towards mergers and acquisitions. According to filings with the corporate affairs ministry in September, Flipkart increased its reserves for financing acquisitions and significant investments to roughly Rs8,000 crore (over $1.2 billion) from earlier levels of Rs3,000 crore.

Flipkart didn’t respond to an email seeking comment. UrbanClap and Swiggy also did not respond to requests for comment. UrbanLadder said no deal with Flipkart is in the works currently.

This year, Flipkart has raised nearly $3 billion in fresh capital from SoftBank Group Corp., Tencent Holdings, eBay Inc. and Microsoft Corp. In August, Flipkart said it has more than $4 billion in cash.


Flipkart is India’s most acquisitive internet firm. Since starting out in 2007, it has bought or invested in over 20 companies. Its largest acquisition was that of Myntra for more than $330 million in May 2014. Earlier this year, Flipkart also tried to buy struggling smaller rival Snapdeal (Jasper Infotech Pvt. Ltd) for nearly $1 billion in stock but the deal collapsed in August because of differences over valuation and deal structure, among other things.

Flipkart is battling Amazon for supremacy in India’s $15 billion e-commerce market, which has seen a sharp slowdown in growth since the start of 2016.

Given this slowdown, Flipkart should seek deals to boost sales, analysts say. The company’s payments platform PhonePe is locked in a fight with another SoftBank-backed firm, Paytm, and Amazon Pay in the fast-growing consumer payments business.

Flipkart is also expanding into newer businesses. The company is working on offering insurance and wealth management products. To launch this business, it has considered buying a stake in fintech start-ups, the people cited above said.

“Flipkart’s new M&A approach is similar to what the large Chinese internet companies and ventures have done in China over much of the past decade—buy out smaller rivals and pick up strategic stakes in other large internet start-ups. Flipkart is trying to do two things—firstly, they are ensuring that they reach a size and scale from which they can’t be toppled by even deep-pocketed rivals such as Amazon. Secondly, they are essentially not missing the bus and protecting themselves from disruption,” said one of the people cited earlier.

(Courtesy : Livemint)

Bharti Airtel Acquires Tata Group's Telecom Business for Free

Tata Teleservices Limited (TTSL) has entered a merger deal with Bharti Airtel on Thursday. The acquisition is subject to requisite regulatory approvals.

Bharti Airtel may have to pay the unpaid spectrum liability of Tata Teleservices Ltd to DoT. As part of the deal, Bharti Airtel will merge consumer mobile businesses (CMB) of Tata Teleservices Limited and Tata Teleservices Maharashtra. The acquisition is being done on a debt-free and cash-free basis.

Consumer Mobile Business (CMB) of TTSL and TTML will be acquired by Bharti Airtel in 19 circles. Bharti Airtel wants to lead the digital revolution in India by offering world-class and affordable telecom services. Sunil Bharti Mittal, Chairman of Bharti Airtel has ensured seamless integration between two telcos.

The acquisition will strengthen Airtel’s market position. Tata customers will soon be shifted to the Airtel network. In several key areas, Airtel’s will give stiff competition to other telecoms after Tata customers are switched to Airtel’s network. Tata customers will be able to enjoy India’s widest and fastest voice & data network.

According to Mittal, an acquisition of the additional spectrum makes an attractive business proposition. The telecom will create substantial long-term value for shareholders through this acquisition. On Tata’s side, this is the optimal and best-suited choice for the company. Tata Group has not only made the right choice for its shareholders but to also customers using Tata network.

Goldman Sachs India Securities is facilitating the merger transaction. Airtel will also acquire Tata’s fiber-optic network as part of this acquisition. Tata Group is likely to shift most of TTLS employees to Airtel. The company hasn’t announced any update on layoffs and exit plan which was revealed earlier this week.

Courtesy : Techgig

Facebook Launches a Blood Donation Initiative Through its Platform

The social networking giant, Facebook has unveiled a new feature to increase blood donations in India. The new feature is part of company’s new initiative towards the social cause.

Facebook has observed that Indian users are already using the platform to connect with donors. The company has partnered with non-profit organizations to ensure the widespread of the initiative. Facebook wants to increase the awareness of blood donation in India through this initiative.

The social network is citing the shortage of safe blood through this initiative. The company is addressing both donors and beneficiaries side of the market. Donors can sign up on the platform, specify their blood group while the social network will take care of connecting the donors with those in need. Facebook is trying to create the ecosystem of donors, non-profit organizations, and health industry experts.

In the official blog post, Facebook’s product manager Hema Budaraju writes, “We hope this new feature helps people come together in ways that weren't possible before. By raising awareness and growing the number of blood donors in India, we want to make it easier for people and organizations to give and receive blood.”

The company will roll out the feature for users in India on October 1st. The date is celebrated as National Blood Donor Day. Users can sign up for the feature and display this donor status on their public profile. The feature will be limited to Facebook web and Android app in the initial phase.

Courtesy : Techgig

India to send 3 lakh youth to Japan for on-job training

India will send three lakh youth to Japan for on-job training for 3-5 years as part of the government's skill development programme, Union Minister Dharmendra Pradhan said here today.

Japan will bear the financial cost of the skill training of Indian technical interns.

The Skill Development and Entrepreneurship Minister said the Union Cabinet has approved signing of Memorandum of Cooperation (MoC) between India and Japan on the 'Technical Intern Training Program (TITP)'.

The MoC, he said, is expected to be signed during his three-day visit to Tokyo starting October 16.

"TITP is an ambitious program to send Three Lakh Indian technical interns to Japan for on the job training for a period of three to five yrs," Pradhan said in a tweet.

He said the youth will sent for training in the next three years with Japanese financial assistance.

"Each skilled youth going there will have a tenure of 3-5 years. These youth will work in the Japanese ecosystem and get employment opportunities there along with accommodation facility," the minister said.

About 50,000 of them may also get jobs in Japan, he added.

The selection of the youth will be done in a transparent manner according to Japanese requirements.

"When these youth return from Japan they will contribute to our industry as well," the minister said.

An official release said the MoC is expected to pave the way for bilateral cooperation between the two countries in the area of skill development.

Courtesy : Techgig

The World's Best Employers 2017

Some companies offer employees free gourmet meals. Others boast sleep pods and paid paternity leave.

It’s perks like these that help a company top the list of Forbes’ first-ever Global 2000 list of the World’s Best Employers.

With 72,000 employees, Google parent company Alphabet GOOGL +1.84% took the top spot, as employees cited approval with the company’s image, working conditions and diversity. For the past year, Alphabet saw $98.9 billion in sales, $19.3 billion in profit, $178.6 billion in assets and a market cap of $622.9 billion.

Alphabet, as well as second place Microsoft MSFT +0.17% and third place Japan Exchange Group , was ranked high for it’s outstanding attractiveness for employees.

Employers from the United States dominate the list, with 157 of the top 500 hailing from the U.S. In the top 10 alone, six employers are U.S. based: Alphabet, Microsoft, Apple, Noble Energy, Williams and IBM.

Second-place Microsoft also came in third this year on Forbes’ list of the world’s largest tech companies.The company saw $89 billion in sales, $21.2 billion in profit, assets of $241 billion and a $573.7 billion market value this year.

Founded in 1959, Japan Exchange Group came in as the third-best employer, with $337 billion in assets and a market cap of $9.7 billion. It was one of 22 companies in the investment-services industry that made the list.

However, the regional-banks industry was the most represented as a top employer. U.S.-based Northern Trust NTRS +0.48% ranked 12th, followed by Thailand’s Kasikornbank at 16th and the Philippines’ BDO Unibank at 23rd.

More than 36,000 global recommendations were analyzed by Statista to create the World’s Best Employers list. Employees were asked to rate their own employer and the likelihood they would recommend the company to a friend or family member. They were also asked to recommend other employers they admired.

This list is based on Forbes’ 2017 Global 2000 rankings, which featured public companies from 58 countries that together accounted for $35.3 trillion in revenue.

Courtesy : Forbes

Karnataka Government To Commit $6.1 Mn For An Artificial Intelligence And Data Science Hub

The Centre Of Excellence Is Expected To Create 35,000 Jobs For AI And Data Science Professionals In The State

In a bid to accelerate the development of artificial intelligence and data science related technologies, the Karnataka government is looking to invest $6.1 Mn (INR 40 Cr) for the construction of a state-of-the-art tech hub.

In an official statement issued by the state government, industry body NASSCOM was named the centre’s programme and implementation partner.

Commenting on the development, the state’s Minister of Information Technology, Biotechnology & Tourism, Priyank Kharge, said, “Karnataka has led the IT revolution in India and has always been at the forefront in areas of science and IT. Our government has played a substantial role in developing a robust startup entrepreneurial ecosystem through its startup policies, startup warehouses executed by NASSCOM and with financial aid wherever required. This Centre of Excellence is the logical next step required to provide the right fillip to areas of data science and artificial intelligence and give a head start to not just the state, but India as a destination to develop global product solutions.”

Courtesy : INC42