Page 2 - Software Services

Salesforce keen on expanding in India, to invest more in Hyderabad, B'luru

Customer relationship management-focused entity Salesforce is keen on expanding in India and looking for more space in the country, a top official said on Wednesday. The company, which has centres in Bengaluru and Hyderabad to support global operations, is looking for space to expand in India currently, its chief operating officer Brian Millham told PTI here. Apart from this, Salesforce also serves the domestic market and this business has been the fastest-growing one in any country for two consecutive years. "India has been incredible for us from a growth perspective. But maybe that even pales in comparison to what we see in India from an employee perspective," he said, making it clear that the support rendered to the global operations is important. The company will continue to invest in India going forward as well, Milham said, adding, "In fact, (we are) looking for new space and expansion in that market." When asked about the same, its chief of engineering Srini Tallapragada ..

Nazara to invest Rs 982 cr in PokerBaazi parent firm, buy 47.7% stake

Esports company Nazara Technologies on Friday said it will invest Rs 982 crore in Moonshine Technology, which owns real money gaming platform PokerBaazi. As part of the deal, Nazara will buy a 47.7 per cent stake in Moonshine Technology for Rs 831.51 crore comprising Rs 592.26 crore cash transaction and a share swap worth Rs 239.25 crore. With the share swap arrangement, select investors and management personnel including Baazi Games, CEO and Founder, Navkiran Singh, will hold 3.17 per cent stake in Nazara Technologies. Besides this, Nazara will invest Rs 150 crore to subscribe to a 100 per cent compulsory convertible which can be converted into equity at a future date as per the agreement clause. "Nazara to invest Rs 982 crore in Moonshine Technology which owns India's leading online poker gaming platform PokerBaazi," Nazara said in a statement. "...PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user ..

Enforce traceability, privacy norms on internet call, messaging apps: COAI

The government should enforce traceability and user privacy rules on WhatsApp, Telegram, Google Meet as well as other calling and messaging apps along with telecom operators as such platforms provide similar services using internet network, industry body COAI said. Telecom operators want the government and regulator to enforce message traceability and user privacy rule on these apps to curb spam and illegal activities as majority of messaging traffic has moved to data networks from SMS, COAI said. In a recent direction, the Telecom Regulatory Authority of India (Trai) has mandated telecom operators to enhance message traceability. The regulator has mandated that the trail of all messages from senders to recipients must be traceable from November 1, 2024. Cellular Operators Association of India (COAI), which represents Reliance Jio, Bharti Airtel, Vodafone Idea and others, said that while the telecom service providers are working jointly with the Trai and the other stakeholders on th

Newgen Recognized in an Analyst Report on Task-Centric Automation Software Landscape

The report informs about the industry focus and deployment options of automation vendors

Indian SaaS sector likely to reach a market size of $50 billion by 2030

Amongst the surveyed organisations, 99 per cent of firms in India said that they plan to increase their cyber budgets, with half of them anticipating a 6-15 per cent rise

Nasscom urges govt to have simple and single interpretation on compliance

Nasscom was reacting to the Rs 32,400 crore goods and services tax (GST) demand from India's second-largest IT services firm, Infosys

Nvidia releases software, services to boost rapid adoption of GenAI

Nvidia's chips have become central to the surge in building new systems being deployed to support artificial intelligence computing

Tesla veteran Jay Vijayan's startup Tekion secures $200 million funding

Automotive software platform gets backing of Dragoneer Investment Group at a valuation of $4 billion

Sonata Software to get 20% of revenue from AI-led services in 2-3 yrs: CFO

To fuel its growth plans, Sonata will also be looking at acquisitions provided it fits the company's strategy

Tally expects 30-40% revenue growth in FY25; to expand overseas footprint

Homegrown accounting software firm Tally Solutions looks to expand its footprint in the Middle East, Southeast Asia and Africa and expects revenue growth of 30-40 per cent this financial year, a senior company executive has said. "Currently, we provide accounting software solutions mostly to the Micro, Small and Medium Enterprises (MSMEs) and are growing at 20-30 per cent annually. We expect revenue growth of 30-40 per cent in 2024-25," Tally Solutions Managing Director Tejas Goenka told PTI. Further, Goenka said that the company currently has a limited presence in Africa, the Middle East and Southeast Asia and is planning to expand going forward. "We are present in Kenya, Indonesia, the UAE and Saudi Arabia. We think there is a huge potential to expand in these three geographies. We are working on a long-term goal on the expansion and we try to be very aggressive. We aim to win the market with businesses thinking of us as the go-to brand," he said. The company, which enjoys a 70-8

Newgen Software Q4 result: Net profit up 32% at Rs 105 cr, revenue up 23%

Tech firm Newgen Software Technologies on Tuesday posted a 31.67 per cent increase in consolidated net profit (attributable to shareholders of the company) to Rs 105.26 crore for the fourth quarter ended March 2024. The company had reported a net profit of Rs 79.94 crore in the year-ago period. Revenue from operations, driven by strong growth in Europe, Middle East, and Africa (EMEA) and India region, rose 23.01 per cent year-on year to Rs 375.26 crore, as against Rs 305.05 crore in Q4FY23, according to a BSE filing. The largest share of revenue was brought in by the banking vertical (73 per cent), followed by insurance (8 per cent), and Govt/PSUs (5 per cent). For the full FY24, the company's profit stood at Rs 251.60 crore, a 42.13 per cent ascent from the previous fiscal's Rs 177.01 crore. Revenue for the year was 27.70 per cent higher at Rs 1,243.82 crore. "We are delighted to close another good growth year in terms of revenue and profit with strong growth in India and EMEA .

Zoho announces manufacturing power tools under its new venture 'Karuvi'

Zoho is the parent company of well-known technology brands, including ManageEngine, Zoho.com, TrainerCentral, and Qntrl

Data centre operator Yotta plans capacity booster for AI efforts

Apart from serving India, the company also aims to cater to the global demand

BMW, Tata Technologies to form JV for developing automotive software

The two firms have signed an agreement to form a joint venture (JV) with the aim to establish an automotive software and IT development hub in Pune, Bengaluru, and Chennai

Software firm Trust Fintech raises Rs 5.42 cr in pre-IPO funding round

Software solutions provider firm Trust Fintech Ltd on Friday said it has raised Rs 5.42 crore in a pre-IPO funding round. Earlier this month, the company filed preliminary papers for the Initial Public Offering (IPO) and the shares are expected to be listed on NSE Emerge in March. The IPO will be a fresh issue of 62,82,000 equity shares. Tejas Goenka, MD of Tally Solutions; Nitin Sathawane, Head of Business at Mphasis Canada; Ramnath Raikar, former Treasury Head at HDFC Bank and Sameer Gupte, MD at NSDL Data Management Ltd were among the investors who participated in the funding round, according to a release. The Nagpur-headquartered company provides core banking SaaS products and fintech software solutions around ERP implementation and customised software solution development, SAP B1 and Offshore IT services for the BFSI sector. The company intends to utilise IPO proceeds for various purposes, including for establishing a new development facility at Mihan SEZ in Nagpur, and fundi

Zoho FY23 results: Net profit crosses Rs 2,800 crore, revenue up 30%

Revenue growth in the US was 24.7%, followed by 29.7% in Europe

B2Core CRM Updates: Enhanced Interface and New Functionalities

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U-WIN in pilot phase, no plan to share data with pvt cos through API: Govt

The U-WIN portal is presently under the pilot phase of implementation and there are no plans to share data with private companies through API (Application Programming Interface), Parliament was informed on Friday. The U-WIN portal is linked with the Co-WIN portal and the beneficiary records from Co-WIN can be accessed through U-WIN using the registered mobile number for facilitation of registration of children, Minister of State for Health S P Singh Baghel said in a written reply to a question in the Lok Sabha. The U-WIN portal only captures the vaccination status and does not create an electronic health record of the patients. "A security audit of the U-WIN portal has been completed by the CERT-In empanelled agency as per the mandate of the government of India to ensure data protection. The U-WIN portal is presently under the pilot phase of implementation and there are no plans to share data with private companies through API," Baghel said.

ChrysCapital buys stake in ProHance for first investment in Indian SaaS

ProHance says ChrysCapital's 75% stake will help it in expanding in Philippines, Australia, South America

NYSE-listed Waters Corp invests $16 million in new GCC in Bengaluru

Waters Corporation has about 450 employees in India and plans to hire another 300 for its new GCC in Bengaluru