Today in Tech: Mphasis to buy Digital Risk; Dubai Internet conference and More
Today’s news from Mphasis did not come entirely out of blue. One, its cash reserves were going up.
Two, the concerns over revenues from HP channel, which accounts for more than half, were on the rise. Analysts were downgrading the stock, and investors were worried.
For a company facing these two issues, making a big acquisition would seem an obvious way forward, and that’s pretty much what Mphasis did. It agreed to buy Digital Risk, a mortgage risk and compliance management solutions provider with 1500 employees in the US, for USD$ 175 million in an all cash deal. The transaction is expected to close by January 31, 2013.
The sub-prime crisis in the US shaved several percentage points off global economic growth, but it also opened up new opportunities for enterprising businesses. Indian outsourcing firms tapped a few of them. This is yet another example of a company attempting to do that. But, the fact that Mphasis is a part of HP, which is facing one of its worst times globally, makes it more interesting to watch.
Here's a selection that gives you enough to get started.
DataWind denied there were any commitments on its part to manufacture the tablets in the country. “Although we are big proponents of manufacturing in India, and there are significant efforts to enable numerous manufacturers to be able to produce tablets in India, there was no commitment to make the product in India,” DataWind Chief Executive Officer Suneet Singh Tuli said in an e-mail reply to Business Line.
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On school-day mornings, I walk my grade-school-age son 400 meters down the hill to the bus stop. Last winter, I fantasized about sitting at my computer while a camera-equipped drone followed him overhead. So this year, I set out to build one.