Intel puts $ 700m Wafer Testing Unit on Hold as Indian Government declines Tax Concessions for 15 yearsSeptember 13th, 2005 “The company conveyed to the government last week that it would not be able to make the investment as the project would not be viable without the tax concessions. The company, however, said it would explore opportunities in the future,” an unnamed Intel official told Business Standard.
Twitter raises another large investment; published reports say deal values company at $1BSeptember 25th, 2009 Something to tweet about: Twitter gets more doughSAN FRANCISCO — Twitter Inc. has raised $100 million in a deal that values the startup at $1 billion — even though the 3-year-old company still hasn't generated any meaningful revenue.
Intel To Lay Off 1000 Manager'sJuly 14th, 2006 Intel said that it would lay off 1,000 managers which is about 1 percent of its work force. Last month, Intel said it would sell its money-losing communications chip business to Marvell Technology Group for $600 million.
NRIs urged to participate in 3G BroadbandJanuary 8th, 2009 CHENNAI - The Satyam Computers Services fraud that has shaken the Indian software services sector will not have any cascading impact on the other players, Communications and IT Minister A. Raja said Friday.
Tamil Nadu doesn't need IT investment, says ministerJanuary 8th, 2009 CHENNAI - In an announcement that took everybody by surprise, Tamil Nadu Electricity Minister Arcot N. Veeraswamy said here Friday that the state does not need any more investment from the IT sector.
Wipro to acquire Citigroup's Indian IT subsidiaryDecember 22nd, 2008 BANGALORE - India's second largest IT bellwether Wipro Technologies Tuesday announced acquisition of Citi Technology Services, the India-based captive provider of IT services and solutions to Citigroup entities worldwide, for $127 million in an all-cash deal. As part of the deal, Wipro and Citi will sign a Master Services Agreement for delivery of technology infrastructure services and application development and maintenance services for six years, which is projected to accrue $500 million during the contract.
Intel to buy development and testing software maker Wind River Systems for $884 millionJune 4th, 2009 Intel to buy Wind River Systems for $884MSANTA CLARA, Calif. — Chip maker Intel plans to buy testing and development software maker Wind River Systems for $884 million.
Global recession to hit investment in IT training marketJuly 27th, 2009 BANGALORE - Investment in IT training and software certification is set to decline by 25 percent in the Asia-Pacific region this fiscal as budgets on tech spending fall due to recession, a study by IT research and advisory firm Gartner said. "Training budgets are among the first to be cut as part of cost containment efforts in the downturn.
Indian Prime Minister's House Sold on Ebay for 35 million rupeesApril 24th, 2005 Reuters reports that some joker sold Indian Prime Minister's house on Ebay to an American business man!
And I thought selling the Brooklyn bridge was a myth!
The businessman forked out 35 million rupees ($802,600) for the house that was up for sale on a Web site as a "huge sprawling mansion in the heart of Lutyen's Delhi with 24x7
running water and electricity", the ‘Hindustan Times’ said. He soon received the title deed for the house and arrived in the Indian capital late in March to take possession of the house for an office he planned to set up only to discover he had been cheated.
Polaris to set up centre for insurance solutionsApril 14th, 2009 CHENNAI - City-based banking, financial services and insurance software company Polaris Software Lab Ltd will invest $20 million to set up a centre for excellence for insurance near Chennai, a top official said Tuesday. 'The eight-storey centre will house 2,500 employees and will be completed in 18 months,' Arun Jain, chairman and chief executive of Polaris, told reporters at the foundation stone laying ceremony.
Infosys to award five top Indian scientists Rs.5 mn eachFebruary 16th, 2009 BANGALORE - Infosys Technologies Tuesday said it has instituted a Rs.5-million (Rs.50 lakh) award each for five top Indian scientists in recognition of their outstanding research contributions and achievements. The five awards will be given annually under the aegis of Infosys Science Foundation, a non-profit trust set up with a corpus of Rs.210.5 million (Rs.21.5 crore), the software major said in a statement here.
Intel to buy software maker Wind River Systems for $884 million, helping expansion beyond PCsJune 4th, 2009 Intel to buy software maker Wind River for $884MSANTA CLARA, Calif. — Intel Corp.
Andreessen Horowitz fund makes first investment in startup already tied to partnersAugust 18th, 2009 Andreessen fund's 1st investment has familiar ringBELLEVUE, Wash. — A new fund managed by Web browser pioneer Marc Andreessen and his longtime confidant Ben Horowitz is treading familiar ground with its first investment — a high-tech startup already tied to the two partners.
How tweet it is! Twitter gets $100 million more as founders try to build independent companySeptember 25th, 2009 Something to tweet about: Twitter valued at $1BSAN FRANCISCO — Twitter Inc.'s founders now have a billion-dollar baby, and they seem determined to raise it without a corporate parent. That was the message underlying Friday's news that Twitter has lined up $100 million to finance its operations while founders Evan Williams and Biz Stone plot ways to make money off one of the Internet's most popular communications tools.
Intel explores better tie with software, showing off a way to speed the creation of app storesSeptember 22nd, 2009 Intel shows how it's branching out with softwareSAN FRANCISCO — As Intel Corp. branches beyond its core business of microprocessors for laptop and desktop computers, the chip maker is doubling as a software company.
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