According to a press statement, IT services firm Mindtree Ltd., based in Bangalore, India, will acquire Minneapolis-based Magnet 360, a Salesforce.com platinum consulting partner, for $50 million in cash, in a move to address the cloud-based services market. The deal features an upfront payment of $37 million and an additional...
Food Delivery Startup Raises from New York's Harmony
Swiggy, a food ordering and delivery startup based out of Bangalore, India, raised $35 million in a Series C round of funding. The company attracted two new investors, New York-based venture capital firm Harmony Partners Ltd., and Singapore-headquartered venture capital firm RB Investments Pte. Ltd. Existing investors Norwest, SAIF and...
Visteon to Acquire India-based AllGo Systems
Headquartered in Van Buren Township, Michigan, global automotive cockpit electronics supplier Visteon Corporation will acquire Bangalore-based AllGo Systems, a developer of embedded multimedia system solutions for global vehicle manufacturers. The deal is expected to close during the first quarter of 2016. Terms were not disclosed, reports WTOC. “AllGo's strong position...
Rockwell Collins Expands Presence in India
Iowa-based Rockwell Collins inaugurated a new, expanded facility in Bangalore, India. The opening is the result of the growing economy and aerospace industry which continues to present new opportunities for the company. “The opening is a reflection of our commitment to India, as well as the increasing demand for services...
Philips Introduces Juvenile Breathing Rate Monitor
On World Pneumonia Day, Royal Philips of Netherlands announced the release of a Children's Automated Respiration Monitor, aimed to help improve the diagnosis and treatment of pneumonia in low-resource countries, potentially preventing many of the 935,000 childhood deaths caused by pneumonia each year reports FierceMedicalDevices. This chest strap monitor converts...
Intel To Open Product Innovation Lab in India
Livemint reports that Intel India will open the Maker Lab, a product innovation center, at its Bangalore campus. This center will provide local start-ups and entrepreneurs a place to develop their ideas and test the products they make. “With the Intel India Maker Lab, we are offering a strong platform...