Reliance Jio Infocomm Limited (“RJIL”) has signed a definitive agreement for the acquisition of specified assets of Reliance Communications Limited (“RCOM”) and its affiliates.
The acquisition is subject to receipt of requisite approvals from the Governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions precedent. The consideration is payable on completion and is subject to adjustments as specified in the agreement.
An asset monetization process for RCOM assets was mandated by the lenders of RCOM, who appointed SBI Capital Markets Limited to run the process. The process is supervised by an independent group of distinguished industry experts. RJIL emerged as the successful bidder in the two-stage bidding process…..Read More
Bitcoin or virtual currencies (VC) has grown to 20-fold rise to reach new high to 3000% this year. It is like the elephant in the room, a lot of people don’t want to talk about it because they have invested in it. Bitcoin does not have a legal status as a currency in most of the world, and authorities usually do not know how best to approach thefts. Some larger exchanges have replaced customer funds after a theft from the exchange itself, but at this stage they are not legally obliged to do so.
The entire process works with blockchain, which is a record of all transactions on a decentralised network of computers across the world.
Bitcoin going Mainstream…
Bitcoin has provoked gambling. Bitcoin is a decentralized global digital currency that runs on a peer-to-peer network called the blockchain. It was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. The currency obeys its own internal logic. Bitcoin has hit a tipping point of mainstream popularity. One of the biggest U.S. Bitcoin exchanges, Coinbase, had signed up some 12 million customers and is the world’s largest bitcoin broker and is available in the United States, UK, Canada, Singapore, and most of Europe. Bitfinex has dominated the world’s Bitcoin trade on exchanges, with a 41.72% market share over the last few days, with the next biggest player is the US-based exchange being Coinbase with 25.78% market share….Read More
In the wake of the current consolidation in the telecom industry, while also the Vodafone-Idea merger and sector-wide financial stress, Huawei Technologies has brought down its direct workforce in India by almost a third.
The economic stress caused in the sector after the disruption caused by billionaire Mukesh Ambani-owned Reliance Jio’s entry, and the amalgamation between Vodafone and Idea have proved to be a double setback for the network vendor’s workforce.
A company source said, on the condition of anonymity said, that there has been a job cut since early this year with nearly 30% of the employees having now gone out of the company, while some of them who were in the field teams have been rehired on a contractual basis. The employees were asked to leave on the basis of performance, network shutdowns and declining telco business, the source added….Read More
Morpho (Safran) and Telit have announced that the specialized embedded SIM developed by Morpho has been successfully tested with Telit’s high-performance 2G, 3G and 4G cellular IoT modules for deployment in an Emergency Road Assistance project in Russia.
The ERA GLONASS (Emergency Road Assistance based on Global Navigation Satellite) project has been launched to introduce a sensor-based in-vehicle emergency call system that in case of an accident automatically dials an emergency number linked to the nearest emergency center. Basic data – including the location – is sent to the local emergency services, meaning that the response can be faster, the size and scope of an incident can be assessed early and time can be saved in critical life-and-death situations…Read more
Schneider Electric (SE) is seeking to leverage its Internet of Things (IoT)-driven competencies to bring about process efficiency across businesses in India. IoT is an emerging industry in India and is expected to cross $15 billion by 2020. To support this industry, the Department of Electronics and Information Technology (DeitY) has come out with a draft IoT policy that aims at building an entire ecosystem around IoT and to incentivize the players in the ecosystem. Home and building, manufacturing, consumer electronics, retail, power, transportation and healthcare are some of the key sectors which are likely to see major spendings on IoT…Read more
The Ministry of Skill Development and Entrepreneurship (MSDE), in line with Prime Minister Narendra Modi’s vision to make India the skill capital of the world, has signed a Memorandum of Understanding (MoU) with the Department of Telecommunication (DoT) to develop and implement National Action Plan for Skill Development in the telecom sector, utilizing PSUs under DoT with a common objective of fulfilling skilled manpower requirement of the telecom sector and at the same time providing quality opportunities for employment / entrepreneurship…Show full article
Trend Micro has appointed Pune-based NNR IT Solutions L.L.P. as the exclusive national distributor for its consumer products line. NNR IT will distribute TrendMicro’s PC Antivirus, Internet Security, Maximum Security and Mobile security products and services to channel partners and customers across the subcontinent.
In this agreement, the later will assist the former in bolster its business growth and consolidate its leadership position in the Indian IT consumer security market. NNR IT Solutions is present in 15 states with 50+ locations and a reach of over 3,000+ channel partners…Read more