California-based pure-play product engineering and software firm Aricent acquired SmartPlay Technologies of Bangalore for $180 million. 1,100 developers at Aricent and the staff of 1,200 at SmartPlay will be combined to create a new group that will focus on custom versions of chip sets for servers, game consoles and other systems adding security, graphics and other accelerators. The co-founder and CEO of SmartPlay Pradeep Vajram will be the president of the new group.
“A lot of companies are looking at vertical integration and want devices that are specific to their needs that they can build value on,” Vajram told EE Times. “There are big OEMs convinced semiconductors will add value for them — this trend is just beginning and will continue. India is very mature right now when it comes to implementation skills — I don’t think there is any difference between its capabilities and those in North America and Europe,” Vajram said.
August 20, 2015 No Comments
Philadelphia-based CDI Corporation announced a definitive agreement to acquire ScaleneWorks People Solutions LLP, a privately held company headquartered in Bangalore, India that provides talent acquisition solutions. The financial terms of the transaction were not disclosed. The closing of the deal is subject to certain conditions, including regulatory approval by Indian authorities, and the acquisition is expected to be immediately accretive to adjusted earnings when completed, but not material to current year financial performance, reports CNN Money.
“The acquisition of ScaleneWorks represents an important step in our plan to expand selectively our footprint to high growth markets and offer new and existing clients additional value-added services,” said David Arkless, executive vice president and president of CDI International.
August 15, 2015 No Comments
Los Angeles-based property consultant CBRE expects the supply of retail space for luxury brands in India to double in the next three to four years. Vivek Kaul, head of retail services India, CBRE South Asia said, “The existing stock of luxury retail space in the country is approximately a million square feet; while around two million square feet is expected to be built up in the next three-four years.”
The Economic Times notes that companies such as DLF, Reliance Industries, Phoenix Mills, the Mumbai-based Maker Group, and Shobha Developers have plans to create additional commercial buildings for retailers in Delhi, Mumbai, Chennai and Bangalore.
August 8, 2015 No Comments
Feeling positive about the government’s Make in India initiative, French engineering and transport company Alstom of France will double its business in the country to almost $1billion in the next three years.
“We love doing business in India. We are finding good business environment in India. We are looking at doubling the order book in the next three to four years,” Alstom (Transport) President Henri Poupart-Lafarge told The Economic Times. Alstom will bid for projects in the urban transport sector which is expected to witness rapid growth and it will hire about 250 engineers every year for the next four years depending on the growth in business, he added.
The company is expanding its manufacturing facility in Chennai and opening a new factory for building traction systems in Coimbatore this year – both these cities are located in the south eastern state of Tamil Nadu. It says it will also supply the German market from India.
Alstom notes that India is the only country where it has a complete supply chain from design to manufacturing sourced locally, and that it expects growth from the dedicated freight corridor, the largest railway infrastructure project currently in the country creating a freight quadrilateral across India.
In India, the company runs the Train Information Systems for the Delhi, Bangalore, Jaipur and Kochi local train systems, and it has provided the initial coaches and the technology for the LHB (lightweight all-metal) coaches used on the country’s high speed Rajdhani and Shatabdi trains.
June 18, 2015 No Comments
In the latest example of a commitment to the ‘Make in India’ initiative, Aequs Automotive, headquartered in Bangalore, announced the inauguration of its new 100% export-oriented automotive manufacturing facility in Belagavi. Located in the state of Karnataka, Belagavi is India’s first precision engineering special economic zone.
The 27,000 square feet facility will manufacture engine, transmission and hydraulic components for passenger and commercial vehicles for export to Aequs customers such as Jacobs Vehicle Systems, Bosch Group, Danaher Group, and Eaton Corporation.
Rajeev Kaul, Group CFO and Managing Director, India of Aequs said, “The launch of this new manufacturing facility and our planned investment of an additional $5 million to upgrade the facility over the next two to three years reflect our confidence in India’s ascension as a major automotive manufacturing hub and in our ability to serve the needs of our global customers.”
June 10, 2015 No Comments