Technology centers of foreign multi-national corporations, or global capability centers (GCC) as they are commonly called, used to be focused on IT and BPO services in the late 1990s. But today, many such centers have evolved to become crucial to the core operations of their parent companies and are drivers...
Global India Tech Centers Record Business of $28 billion in 2018
The market size for global capability centers (GCC), also known as multinational tech centers, amounted to $28.3 billion in 2018, compared to $19.5 billion in 2014 according to a study by industry body Nasscom. With over 1,250 and counting, India has the biggest presence of GCCs in the world, (the...
Canada's Brookfield to Acquire Two Wind Farms in India
Canada's Brookfield Asset Management will acquire two wind farms from Hyderabad, India-based Axis Energy Ventures for $75 million The deal will be Brookfield’s first direct acquisition in the renewable energy space in India. In 2017, Brookfield acquired Missouri- and California-based SunEdison’s TerraForm Global Inc, a 300-megawatt portfolio in India as...
Intel Acquires India's Startup Ineda Systems
Santa Clara, CA-based Intel Corporation acquired Hyderabad, India-headquartered startup Ineda Systems, a fabless semiconductor product company, in an all-cash deal. "Intel acquired engineering resources from Ineda Systems, a silicon and platform services provider based in Hyderabad. This transaction provides Intel with an experienced system on chip team to help build...
Safran Builds Airplane Engine Factory in India
Safran S.A., French multinational aerospace-component and defense company's subsidiary Safran Aircraft Engines will build a new plant in Hyderabad, India, to make parts for the LEAP turbofan engine from CFM International, a 50/50 joint company between Safran Aircraft Engines and GE. "We're delighted to open a new chapter in our...
India's Aurobindo Pharma Buys Injectables Assets from Spectrum Pharmaceuticals.
Hyderabad, India-based Aurobindo Pharma will acquire seven branded oncology injectables from Henderson, Nevada-based Spectrum Pharmaceuticals Inc., for about $300 million. Acrotech Biopharma LLC, a wholly-owned subsidiary of Aurobindo Pharma USA Inc., will acquire the assets. The transaction is expected to close within 90 days. The acquisition involves an upfront payment of...