Tech Mahindra has received approval from UK's Financial Conduct Authority for its 120 million pound acquisition of Target Group.
Target Group, which provides financial services outsourcing and software, welcomes the FCA's confirmation that it has formally approved Target's acquisition by Tech Mahindra, the Mumbai-based company said in a BSE filing.
The transaction, announced on May 27, will see the current management team remain in the business, ensuring continuity and acceleration of the group's growth strategy.
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Accenture to acquire Australian security company, Redcore * Technology consulting company Accenture today said it will acquire Redcore, a privately held Australia-based consulting company, for an undisclosed amount.
Redcore specialises in providing identity and access management services (IAM), security services for cloud, network management, public key infrastructure, cyber defense, applications and Internet of Things.
"The acquisition is subject to customary closing conditions. Financial terms are not being disclosed," Accenture said in a statement.
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Bank of Baroda organises mega loan distribution camp in Noida * Bank of Baroda organised a "mega loan distribution camp" in Noida where sanction letters amounting to Rs 51.30 crore were distributed to 112 borrowers on the spot.
The sanctions were given under various facilities including seven loans under StandUp India and 38 under Pradhan Mantri Mudra Yojna, Bank of Baroda said in a statement.
The sanction letters were distributed at the hands of R K Gupta, General Manager and Zonal Head, Northern Zone, Bank of Baroda. He also deliberated over the new technology driven initiatives of the Bank.
Indraprastha Region, the host of the event, has a business volume of over Rs 10,500 crore of deposit and Rs 3,200 crore of advances.
Tata Elxsi grows manpower by over 20% from July 2016
* Global design and technology services company Tata Elxsi today said it has hired over 800 engineering graduates and post-graduates in the last four months, an addition of over 20 per cent to its design and technology workforce.
The addition, the highest in Tata Elxsi's history, was done with the long-term goal of growing globally-integrated executives with the right skills and capabilities, it said in a statement.
"We went to over 50 of the best colleges and institutes to identify the right talent. We also assigned a vice president from the technology side to develop a specially crafted L&D programme to accelerate induction and advanced technology training and facilitate early availability and deployment into projects," Tata Elxsi VP HR Philip Mammen said.
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Simplilearn partners Microsoft for training 1 lakh on cloud * Simplilearn today said it has partnered Microsoft to train over one lakh people by 2020 on the latter's cloud platform.
"In today's digitally driven economy, there is a need for talent to own relevant and most updated skill-sets to be relevant in the work space. By partnering with Simplilearn, we are assured of talent in India that is skilled and up to date on cloud capabilities," Microsoft India Director Business Development Manohar Hotchandani said.
Through this partnership, going forward, Microsoft will also implement similar upskilling programs for other technology products in India, he added.
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BetterPlace gets funding from Venture Highway * Venture Highway today said it has invested an undisclosed amount in BetterPlace Safety Solutions, a Bangalore-based digital trust solution provider.
Venture Highway is founded by former Google executive Samir Sood and is advised by Neeraj Arora, Business Head at WhatsApp.
Founded in 2015, BetterPlace is building digital trust profile of individuals to help them access services such as credit, health and insurance.
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Bikano plans a foray into packaged food products * Leading processed food manufacturer Bikano is planning to foray into the catering of packaged food products in the domestic food market early next year with its 'ready to eat' product range.
The company is planning to come up with 'ready to eat product ranges such as Shahi Paneer, Rajma, Saag etc. It has already started exporting ready to eat products in overseas market including USA, Dubai, UK, Canada, New Zealand.
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* Tata group firm Voltas, a today announced the inauguration of the Voltas Center of Excellence at its Thane facility, in collaboration with Tata Strive a Group initiative, to organise vocational training programmes for the youth in India.
