VARINDIA IT MAGAZINE

To expand its Internet of Things (IoT) portfolio and IoT analytics capabilities, and accelerate the development of new IoT applications for key vertical markets, Nokia has acquired SpaceTime Insight. SpaceTime Insight provides machine learning-powered analytics and IoT applications for some of the world's largest transportation, energy and utilities organizations, including Entergy, FedEx, NextEra Energy, Singapore Power and Union Pacific Railroad. Its machine learning models and other advanced analytics, designed specifically for asset-intensive industries, predict asset health with a high degree of accuracy and optimize related operations. As a result, SpaceTime Insight's applications help customers reduce cost and risk, increase operational efficiencies, reduce service outages and more. Bhaskar Gorti, President of Nokia Software, said, "Adding SpaceTime to Nokia Software is a strong step forward in our strategy, and will help us deliver a new class of in...

Virtusa Corporation has announced the appointment of Madhavan Satagopan as Executive Vice-President for Non-Linear Business Strategies. Kris Canekeratne, Chief Executive Officer, Virtusa Corporation, said, "We are delighted to welcome Madhavan to the team, where he will work with the best people in the industry and drive excellence with his leadership ability, passion, and focus. I am confident that Madhavan’s experience and capabilities will add strength to our business leadership as we look to continue our strong growth and cement our role as the go-to partner for digital engineering services.” In this role, Madhavan will be responsible for driving changes in the company’s go-to-market approach towards non-linear business models, enhancing engagement in the partner and startup ecosystem, and improving the quantum and velocity of innovation for Virtusa and its clients. With over 24 years of experience in techno-domain specialization, Madhavan Satagopan brings a rem...

Amit Bhardwaj has been arrested for allegedly scamming investors out of Rs 2,000 crore in Maharashtra alone. One of the biggest Indian names in the digital-currency market, Bhardwaj, ran a slew of ventures, including GainBitcoin, GBMiners, MCAP and GB21.Cyber cell of Delhi Police has arrested founders of bits2btc Kamal Singh and Vijay Kumar for duping 2,500 people for over Rs 100 crore. Bhardwaj, who is often referred to as a Bitcoin evangelist and Bitcoin visionary, is an alumnus of MGM's College of Engineering in Maharashtra and has worked with software major Infosys.Bhardwaj founded GainBitcoin in 2013 as a cloud-based platform for trading and mining of bitcoins.It is my vision to get even the smallest investor to ride the Bitcoin wave. I can say with confidence that our early stage hitches have been ironed out and GainBitcoin is firm on its feet to offer a robust, trustworthy trading environment to our 1,00,000+ customers. We have also witnessed a record 47 percent hi...

There is a literally financial turf war among two world's biggest retail giant of America Walmart's and Amazon in India. Walmart is closed the deal with 75% stake in Flipkart, amidst the speculations of exits of co-founders of the SoftBank-backed e-commerce marketplace.The biggest e-commerce business in India has closed for $15 billion.The sale values Indian e-commerce market leader at around $20 billion. With this India has become the main battleground for Walmart and Amazon, each of which lost out on the world’s largest e-commerce market - China. A question comes why these two global giants are targeting India as a opportunity geography, reason could be of population of 1.3 billion that is expected to surpass China’s in the coming years. Amazon reportedly offered to buy a 60% stake in Flipkart on Monday, a deal that would have included $2 billion to cover the “breakup fee” Flipkart would have had to pay Walmart for pulling out of the deal. Amazon declined to issue a...

Cambridge Analytica and the SCL Group UK based data consulting firm having offices in London, New York City, Arlington, Virginia, and Washington, D.C. Cambridge Analytica, the Political consulting firm has been implicated in major political developments in both the UK and America as well as in India and beyond. Documents made public by whistleblower Christopher Wylie highlighted the “extensive” work conducted by SCL Elections in India, helping parties target audiences based on factors such as caste. It is at the centre of a storm around misuse of Facebook user data, is shutting down and has filed for bankruptcy. It is true that after the Cambridge Analytica scandal, there are many opted out for signing up for a Facebook account and it is true. The Facebook scandal is creating a new wave of people are deleting their Facebook accounts, and that’s fine. But fundamentally, thanks to network effects, it is hard to quit Facebook. There are some observations also true that many have...

Chinese smartphone and connected device maker Xiaomi is bringing its blockbuster initial public offering to Hong Kong, where it could raise about $10 billion in the largest listing globally in almost four years, what is expected to be the world’s largest listing since 2014. The IPO plans, filed on Thursday, will be one of the first in Hong Kong under new rules designed to attract tech listings, a major win for the bourse as competition heats up between Hong Kong, New York and the Chinese mainland. The listing could value the company around $100 billion and would be the world’s biggest IPO since Alibaba’s $25 billion debut in 2014. The IPO could be launched as early as the end of June, according to the people close to the process who requested anonymity as the details were not yet public. The prospectus gave investors the first detailed look at Xiaomi’s financial health ahead of the IPO, showing resilience in a slowing global smartphone market thanks partly to a push int...