Nickelodeon Celebrates the New Normal With Kids’ Choice Awards 2020 - Virtual Edition

* KCA is back in a new format, new style and with new nomination categories~

* As a category-first, Nickelodeon to partner with Teach for India to bridge the digital education divide caused by the new normal~

It is time to forget about the challenges we have faced and rejoice the ultimate celebratory festive time. The one-of-a-kind award show that is for the kids and by the kids -Nickelodeon Kids’ Choice Awards 2020 is back! While this year has been unprecedented, Nickelodeon follows through on its promise to entertain and empower kids. This year with Nickelodeon Kids’ Choice Awards the promise is to present the show in a whole new format, focused on taking it virtual and getting kids to not only vote but also get closer to their stars in a never seen before avatar. That’s not all, KCA 2020 will witness 6 new and relevant categories for kids to vote for their favorite entertainers during the lockdown and decide who takes home the coveted Nickelodeon Blimp.

Over the years, Kids’ Choice Awards have featured a glittering host of celebrities gracing the orange carpet and with our iconic Nicktoons. With mind-blowing performances by renowned celebrities like Sara Ali Khan, Varun Dhawan, Alia Bhatt, Ranveer Singh and more, as well as raking in more than 5 lakh votes, kids had a gala time at the legendary award show. This year’s edition will witness nominees that have come through a special online research to determine who entertained children the most during the lockdown. Always turning lemons into lemonade, kids will get a chance to vote for a whole lot of nominees across several new categories such as favourite online learning apps, youtubers, Instagram personalities, sportspersons, food enjoyed during the lockdown amongst others. The voting starts on January 4, 2021 exclusively on www.voot.com and the Voot App.

Nina Elavia Jaipuria – Hindi Mass Entertainment & Kids TV Network at Viacom18, said, “In these challenging times our commitment is to ensure that our young viewers remain entertained and positive. Keeping this in mind we at Nickelodeon are going to celebrate all that is new with Kids’ Choice Awards 2020. In the virtual format, with the introduction of new categories, we aim to encourage and empower kids to cast their vote and choose their favourites who kept them going through the lockdown. Nickelodeon will also support Teach for India to help provide smart devices to children to enable online education.”

The uniquely curated awards will support a cause that has emerged during the pandemic while emphasizing the need to celebrate the new normal. Due to the ongoing social distancing, the shift to e-learning, India’s education system is going through a reform. The prolonged closure of schools to maintain social distancing has caused an educational inequality, especially due to limited access to internet and technology. To bridge the digital education divide and enable a smooth transition for all stratas of society, Nickelodeon has partnered with Teach for India, for the latter’s existing program “Sponsor A Device”. The partnership will kickstart during the voting process of the Kids Choice Awards 2020 where Nickelodeon will donate Rupee 1 for every vote garnered. Teach for India is a non-profit organization that works towards educational equity at all levels of the education system. Under the existing program, the community aims to enable the new form of learning by raising funds for putting a gadget in the hands of every student who needs one.

Commenting on the initiative, the Director of Communications and Marketing of Teach For India said, “We are delighted to partner with Nickelodeon for their most prestigious awards show. Their support to our #DontStopLearning campaign is important and we are deeply grateful to their commitment to sponsor a device to ensure our students continue learning. We are confident that this partnership will play a significant role in bridging the digital divide."

Pivoting the media mix to the new normal, the marketing campaign is being promoted through a robust digital and social media plan, interesting on-line interactivity, support across the Nickelodeon franchise and social media challenges along with a push from the entire network. There are various innovations lined up on the digital front, including tons of quirky communication on YouTube. There will be a #KCAsquad with influencers giving the audiences all the latest updates on #KCAIndia2020.Further adding to the slime-tastic experience will be slime inspired digital games, contests, AR filters, virtual face offs and series of engaging and interesting on-line interactivity that will create fun experiences for kids.

While box office collections and critic reviews foretell how successful a film or performer is, it is time to find out which of them would make it to the hearts of the young ones. Get your kids ready to cast their vote and decide who takes home the Nickelodeon blimp!

Krazybee Services Pvt Ltd Appoints G Gopalakrishna as an Independent Director

Krazybee Services Private Limited, a Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-SI), has appointed Mr. G Gopalakrishna, former Executive Director (ED) of Reserve Bank of India (RBI) as an Independent Director on its Board. 

Mr. Gopalakrishna has been a career Central Banker with RBI for over 33 years in various capacities and retired as Executive Director (ED) in 2014. During his stint as ED RBI, he was overseeing the Department of Banking Supervision, Dept. of Non-Banking Supervision and Foreign Exchange Department, among others. He was later appointed as Director, Centre for Advanced Financial Research and Learning (CAFRAL) promoted by RBI (2014-17). Presently, he is also on boards of a few other financial institutions and companies.

Talking about the development, incumbent NBFC Director Vivek Veda said, “We are delighted to have Mr. G Gopalakrishna on our Board. His strong supervisory and regulatory background and significant experience in the finance industry will help the company achieve its ambition of becoming a trusted and performance-oriented consumer lending NBFC for all associated stakeholders.”

On the appointment, Mr. G Gopalakrishna said, "Financial inclusion in a diverse demographic in India is the need of the hour. What impresses me about Krazybee Services Private Limited is not just the social sensitivity they have showcased by extending the credit line to consumers which are underserved largely by banking institutions & traditional NBFCs, but also the austerity with which they have managed their business and operations.”

The other members on NBFC Board include Mr. Adesh Kumar Gupta (Non-executive), Mr. Abhishek Singhvi (Non-executive), and Mr. Madhusudan E (Executive).

About Krazybee:

Krazybee Services Private Limited is a Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-SI) registered with the RBI in May 2017, and currently lends on its partner platform KreditBee. The loan products primarily include personal loans with the tenure ranging between 2 and 15 months, with ticket size going up to Rs. 2,00,000.

Emirates Unveils Airbus A380 Premium Economy, Enhancements Across all Cabins

Emirates is taking its signature Airbus A380 experience to the next level with the unveiling of a brand new Premium Economy cabin product, together with enhancements and a refreshed look across all cabins onboard its newest A380 aircraft.

Sir Tim Clark, President Emirates Airline said: “The Emirates A380 is already one of the most sought-after travel experiences in the skies, and now we’ve made it even better. While others cut back, Emirates is working hard to restore the products and services that we’ve had to suspend or adjust due to pandemic precautions, and introduce new offerings and enhancements. True to our fly better promise, Emirates continues to invest to offer our customers the best possible experience.”

The airline received its newest A380 aircraft from Airbus’ Hamburg facility last week, and its remaining order of 5 A380s will also be delivered with premium economy cabins over 2021 and 2022. Emirates’ premium economy seats will also be installed on some of its Boeing 777X aircraft which are only due to join the fleet in 2023. Emirates is considering plans to retrofit its existing A380 fleet.

Commenting on Emirates’ premium economy cabins, Sir Tim said: “Our Premium Economy product was carefully developed in keeping with Emirates’ brand positioning as a full-service airline of the highest quality. Our First, Business and Economy experiences reset industry standards when they were introduced, and we are confident that our Premium Economy will also make its mark as a distinct premium offering. Until we have a viable number of seats in our inventory to bring to market, we plan to offer the Emirates Premium Economy experience as a complimentary upgrade to valued customers. We’ll also deploy our newest A380 aircraft on various routes so that our customers can experience our latest offering in all classes.”

Emirates will announce details of where its A380 aircraft with Premium Economy will be deployed in the coming weeks.

Premium Economy: comfort and space

Emirates today unveiled details of its highly-anticipated premium economy cabin, which offers 56 seats in a 2-4-2 cabin layout.

With a generous pitch of up to 40-inches, Emirates’ premium economy seat is 19.5 inches wide, and reclines 8 inches into a comfortable cradle position with ample room to stretch out. Covered in cream-coloured anti-stain leather with stitching details and a wood panel finishing similar to Business Class, each seat is designed to provide optimal comfort and support with 6-way adjustable headrests, calf rests and footrests.

Each seat has a 13.3” screen, one of the largest in its class, to enjoy the unmatched array of music, movies, TV, news and other content on Emirates’ award-winning ice.

Customers will also find thoughtful touches including easily accessible in-seat charging points, a wide dining table and side cocktail table.

Emirates Premium Economy is located at the front of the main deck, with 2 lavatories dedicated to customers.

First Class: even more privacy and luxury

On this latest Emirates A380, the airline’s 14 First Class private suites have been enhanced from the original suites, being slightly wider with taller doors, for even more privacy and comfort.

Cabin detail and finishes have also been refreshed with new motifs and colours, from the sweeping stairs that lead from the main deck to the upper deck, to refreshed design trims and modern fittings in the Shower Spa.

Business Class: new luxury finishes

Emirates has retained its popular A380 Business Class seats which offer direct aisle access for every passenger, reclines to a fully-flat position, and offers personal mini bars, ample personal storage and a high degree of privacy.

All 76 seats have been refreshed to feature champagne-coloured leather covers and wood finishing, inspired by executive jets, similar to the Business Class on Emirates’ Boeing 777 Gamechanger aircraft.

The same classic colour scheme has also been applied to the Onboard Lounge at the back of the upper deck, for the exclusive use of First and Business Class passengers.

Economy: gamechanger seats

Emirates has replaced all 338 Economy seats onboard its newest A380 with ergonomically designed seats that come with full leather headrests and flexible side panels which can be adjusted vertically for optimum support.

This latest seat model is a step up from the version currently installed on Emirates’ Boeing 777 Gamechanger aircraft. It is lighter, without compromising on comfort or function. Each seat features a classy wood grain finish on tray tables, as well as a 13.3” personal screen to enjoy Emirates’ award-winning ice.

Refreshed cabin interiors

Throughout the Emirates A380 interior, customers will see new finishes and design touches featuring the Ghaf (prosopis cineraria) tree motif, as well as the clean and airy champagne colour scheme with wood panelling and bronze accents from Emirates’ latest Boeing 777 Gamechanger interiors.

An indigenous evergreen plant, the Ghaf is a considered the national tree of the United Arab Emirates, and has deep cultural and ecological significance.

All cabin classes are equipped with the latest generation of Emirates’ award-winning ice inflight entertainment system offering improved and superior image quality. Each in-seat screen will feature ultra-wide viewing angles, a capacitive touch screen, LED backlight and full HD display.

Godrej Consumer Products Launches ProClean, Forays into Home Cleaning Products Category

Godrej Consumer Products Limited (GCPL), a leading emerging markets company, forayed into the home cleaning products segment by launching Godrej ProClean, a brand that provides surface cleaning and disinfecting solutions. The brand offers three products including ProClean Toilet Cleaner, ProClean Bathroom Cleaner and ProClean Floor Cleaner. ProClean aims to cater to the rising demand for home hygiene products especially in the current context where there is emphasis on products that offer protection against germs. The brand’s USP is its ‘best quality at best price’ offering.

The market size of home cleaning products (branded floor, toilet and bathroom cleaners segment) is pegged at INR 2600 crore, as per AC Nielsen. Due to increased awareness about cleanliness and hygiene, consumers are opting for products that will enable them to keep their homes clean and germ-free. This is likely to fuel further growth of home cleaning products category in the coming days. Consumer preferences have also shaped the demand for durable, new-age products as against the traditionally used cleaners like phenyl.

Commenting on GCPL’s foray into home cleaning products category with Godrej ProClean, Sunil Kataria, Chief Executive Officer - India & SAARC, Godrej Consumer Products Limited (GCPL), said, “Indian consumers are becoming more hygiene conscious. Demand for cleaning products continues to grow due to consumer alertness concerning the importance of hygiene and the spread of infectious diseases. Our main objective to launch Godrej ProClean, is to create a home cleaning brand that evokes trust, ensuring best quality at the best price.”

He further added, “ProClean is a one-stop home cleaning, hygienic solution for everyday use. It offers 99.99% germ kill while ensuring value for money pricing in branded segments through its consumer offers. At GCPL, we are committed to creating delight for our consumers by prioritizing hygiene, safety and germ protection, and our new launch is another step towards reinforcing this commitment.”

Godrej ProClean provides consumers with one-stop home cleaning, hygienic solutions for everyday use. The three ProClean products come with the proposition to kill 99.99% germs. The toilet and bathroom cleaner come with the proposition of removal of toughest stains and floor cleaner comes with the promise of long lasting fragrance (available in 2 variants).

Godrej ProClean Floor Cleaner is available in two fragrance options of lavender and citrus. Godrej ProClean Toilet cleaner is available at INR 86/- for 500 ml and INR 168 for 1 ltr. Godrej ProClean Bathroom cleaner is available for INR 91 for 500 ml and INR 172/- for 1 ltr and Godrej Proclean Floor cleaner is priced at INR 93 for 500 ml and INR 179/- per litre.

However, the entire range is available to consumers at aggressive consumer offers of Buy 2 Get 1 free on all 500 ml packs and 500 ml free with all 1 ltr packs. Godrej ProClean is available across general and modern trade along with e-commerce platforms.

About Godrej Consumer Products Ltd:

Godrej Consumer Products is a leading emerging markets company. As part of the 123-year young Godrej Group, we are fortunate to have a proud legacy built on the strong values of trust, integrity and respect for others. At the same time, we are growing fast and have exciting, ambitious aspirations.

Today, our Group enjoys the patronage of 1.15 billion consumers globally, across different businesses. In line with our 3 by 3 approach to international expansion at Godrej Consumer Products, we are building a presence in 3 emerging markets (Asia, Africa, Latin America) across 3 categories (home care, personal wash, hair care). We rank among the largest household insecticide and hair care players in emerging markets. In household insecticides, we are the leader in India, the second largest player in Indonesia and are expanding our footprint in Africa. We are the leader in serving the hair care needs of women of African descent, the number one player in hair colour in India and Sub-Saharan Africa, and among the leading players in Latin America. We rank number two in soaps in India and are the number one player in air fresheners and wet tissues in Indonesia.

But for us, it is very important that besides our strong financial performance and innovative, much-loved products, we remain a good company. Approximately 23 per cent of the promoter holding in our Group is held in trusts that invest in the environment, health and education. We are also bringing together our passion and purpose to make a difference through our 'Good & Green' approach to create a more inclusive and greener India.

At the heart of all of this, is our talented team. We take much pride in fostering an inspiring workplace, with an agile and high performance culture. We are also deeply committed to recognising and valuing diversity across our teams.

DGT-MSDE Announces Result of 110th All India Trade Test for Apprentices

* Close to 96000 candidates appeared for 110th AITT for apprentices conducted in September 2020

* Km. Sneha, IHMCT, Panipat-Haryana tops the evaluation scoring 95.96% in the National Apprenticeship Certificate (NAC)

* Kalyan Rana, Texmaco Rail & Engineering Ltd, West Bengal and Thiruselvam M, BHEL-Pudukottai-Tamil Nadu rank 2nd and 3rd respectively

The Directorate General of Training (DGT) operating under the aegis of the Ministry of Skill Development & Entrepreneurship (MSDE) has announced the result of the 110th All India Trade Test (AITT) for apprentices. The examination was conducted in September 2020 that engaged close to 7,300 industries in over 200 trades. Nearly 96,000 candidates appeared for AITT out of which over 50,000 candidates passed the exam. The overall percentages of girls and boys who passed are 58.41% and 51.44% respectively, which stands testimony to increasing female participation in apprenticeship. Km. Sneha, IHMCT, Panipat-Haryana topped the evaluation scoring 95.96% in the National Apprenticeship Certificate (NAC). Kalyan Rana, Texmaco Rail & Engineering Ltd, West Bengal and Thiruselvam M, BHEL-Pudukottai-Tamil Nadu ranked 2nd and 3rd in the examination respectively. 

After completion of apprenticeship training, an evaluation through All India Trade Test (AITT) for National Apprenticeship Certificate (NAC) is conducted twice in a year. AITT is a skill-oriented evaluation done by DGT and the industry, and it requires continuous practice, dedication, devotion, and hardwork to succeed. DGT-MSDE certifies apprenticeship training in association with establishments and industry to make youth across the country employable by providing them relevant industry exposure. This training is under the Apprentices Act, 1961 and supported through National Apprenticeship Promotion Scheme (NAPS). The training is as per the course curriculum designed by the DGT in the designated trades, that provides an apprentice the opportunity to receive on-the-job training by key players in the industry and get stipend.

Congratulating the successful candidates, Dr. Mahendra Nath Pandey, Hon’ble Union Minister of Skill Development and Entrepreneurship, said, “Over the years, DGT-MSDE has undertaken several measures to increase the number of apprentices hired by enterprises across the country. We have brought significant reforms to the apprenticeship rules in 2019 to drive greater participation in the programme. National Apprenticeship Certificate (NAC) plays an integral role in our relentless efforts to strengthen the Indian apprenticeship ecosystem in order to rightly skill the youth and provide them opportunities for sustainable livelihood. My heartiest congratulations to all the successful candidates and I wish them the very best for their future. I am certain that these bright, dynamic and talented young professionals will make a mark in their respective industries and hugely contribute in fulfulling our Hon’ble Prime Minister’s vision of ‘Aatmanirbhar Bharat’.

Apprenticeship has been recognized as an effective way to empower young people to smoothly shift from school and college to work whilst at the same time improving links between industry and training institutions. The National Apprenticeship Programme plays a large part in the task of up-skilling India’s workforce, offering the opportunity to share costs among different parties (employers, individuals and the government) and to involve governments, employers and workers in partnership. Apprenticeship is a win-win situation both for industry and youth in coming together to help make the vision of ‘Skilled India’ a reality in future.

Sharing her thoughts in this regard, Ms. Neelam Shammi Rao, Director General (Training), DGT said, “Our mission is to fill the gap in supply and demand for skilled workforce and meet the aspirations of the Indian youth through gaining on-the-job training and securing better opportunities for employment. We realized that apprenticeship training needed to be accorded as high priority to create an industry-led, practice-oriented, effective and efficient mode of formal training. With a ‘new normal’ in place, as market dynamics are rapidly evolving, enhanced focus on apprenticeship becomes all the more important for the future of jobs. Recognized for employment both nationally and internationally, NAC helps us ensure that our initiatives align with national as well global industry standards and requirements.”

The list of the toppers and results can be seen by the candidates on the DGT website -  http://apprenticeship.gov.in

Godrej Strengthens Vaccine Cold Chain to Help India be Covid-19 Vaccine Ready

* Delivering storage units offering optimal temperature needed for the Covid 19 Vaccines being evaluated for India

* The brand ramps up medical refrigerator production capacity by 250% to meet the demand.

* Received multiple orders valued close to INR 150 Cr exclusively for Covid-19 vaccine storage purpose

The pandemic has disrupted businesses and the lives of people around the world. As the world is eagerly awaiting the vaccine to be released to the masses, India - the world's second worst-hit country with over 10 million cases -- is gearing up for a huge Covid-19 vaccination drive in the coming months. Government of India along with State governments and PSU’s, is preparing to deploy vaccines to the masses by getting the vaccines as well as the critical cold chain infrastructure to support the drive, ready.

As the country prepares for what may be one of the most significant immunization drives in history, Godrej Appliances, leading player in Indian home appliances, is getting ready for providing end-to-end solution for the Covid-19 Vaccine Cold Chain.

Like most vaccines, Covid 19 Vaccines also are extremely temperature sensitive. Undercooling and over cooling both affect vaccine potency and lead to vaccine wastage. This has a direct implication on both citizen health and the cost over runs of the vaccination program. Given the huge economic implication of the vaccination drive, any wastage or inefficiency in the vaccination process due to logistical issues related to cold chain must be avoided.

To cater to the urgent demand for Covid-19 vaccine storage in India, the brand has a range of vaccine refrigerators which operate in the precise temperature band of 2-8°C and now, also offers advanced medical freezers with cooling upto -20°C.  These temperature ranges are completely suited for the multiple Covid 19 Vaccines being evaluated by India. 4 of the 5 front runners amongst the vaccine variants being evaluated for India need to be stored at 2-8°C (as reported in public domain so far), while the diluents and freezing ice packs required for outreach programs, must be stored at -20°C.

Powered by patented Sure Chill Technology, Godrej Medical Refrigerators help maintain the optimum temperature range of 2 to 8°C - a necessity for vaccine preservation, despite intermittent power outages. In the event of power outages, this refrigerator retains its temperature for as long as 8-12 days even at ambient temperatures of 43°C. In regions without electricity supply, the equipment can be teamed with solar power to deliver the same result. On the other hand, Godrej Deep Freezers with D-cool Technology use D-shaped Copper Refrigerating Tubes to deliver quick and uniform cooling. It also has Penta Cool Technology for 5-side cooling to deliver high refrigeration efficiency. These technologies help in providing precision cooling at -20°C and a holdover time of 3 – 4 hours. Given the nature of deployment, the precision cooling and hold over time are both critical requirements. Thanks to the years of building robust appliances for tough conditions, our medical refrigerators operate at a low start up voltage of even 130 V - an added benefit making it extra suited for deployments all over the country. Godrej Medical refrigerators are made in India and use eco-friendly (CFC, HFC and HCFC free) R600A and world’s greenest R290 refrigerant which also deliver maximum energy-efficiency, in line with Godrej’s cherished value of environment.

The brand has received multiple orders valued close to INR 150 Cr from the central government, various state governments and International aid bodies as well, solely for the purpose of Covid-19 vaccine storage. It is also receiving enquiries now from PSUs who are joining the immunization effort. Godrej Appliances has already ramped up medical refrigerator production capacity from 10,000 units per annum to 35,000 units per annum, to meet the growing demand.

Godrej & Boyce has been committed to serving the country especially in the trying pandemic times, through its efforts across its offerings – be it through medical components - Hospital Bed Actuators and  Electro-magnetic valves for ventilators, or through disinfectant devices aimed at keeping the population safer at home, or setting up socially distant offices to keep people safe at work; and is proud to serve the country with Made in India medical refrigerators and freezers, at a time when they are most needed.

Commenting on these developments, Mr. Kamal Nandi, Business Head and Executive Vice President, Godrej Appliances said, “Over the years, Godrej Appliances has gained its expertise in refrigeration and has extended this further into the medical refrigeration domain. We are proud that this expertise is proving to be useful today in times when the country needs a strong vaccine cold chain and are glad to be able to contribute to the cause. Our medical refrigerators and also our medical freezers, deliver the precise cooling temperature of 2°C - 8°C and -20°C respectively, needed for the vaccines being evaluated by India at the moment. We are partnering with various stakeholders in strengthening the healthcare cold chain and aiming to solve other potential vaccine roll out challenges as well, to make India Covid-19 vaccine ready.”

Mr. Jaishankar Natarajan, Associate Vice President and Head - New Business Development, Godrej Appliances further added “The Covid-19 vaccines being rolled out in India are temperature sensitive and require storage at a specific temperature band to stay potent. Our medical refrigerators are designed to deliver such precision cooling despite power cuts, and have qualified tough international WHO PQS certification standards. Our 62 years of existence in the cooling industry coupled with extensive service network in the country positions us to deliver quick and reliable service to this critical healthcare challenge. Currently, to meet the increasing demand, we have enhanced our production capacity of these specialized products by 250 percent. Together with the government and health workers, we are committed to provide last mile immunization for Covid-19 vaccine distribution, to safeguard millions of lives.”

About Godrej Appliances

Godrej Appliances, a business unit of the highly diversified Godrej & Boyce Mfg. Co. Ltd. is one of the leading Home Appliances players in India. Godrej was the first Indian Company in 1958 to manufacture Refrigerators and has since then, expanded its portfolio across many other categories like Washing Machines, Air Conditioners, Microwave Ovens, futuristic Thermo-electric cooling solutions, Air Coolers, Deep Freezers, highly specialized Medical Refrigerators and more recently, UVC Technology-Based Disinfecting devices and Dishwashers, all powered by the driving philosophy of 'Things made thoughtfully’/ ‘Soch Ke Banaya Hai’. 

This thought extends from human-centric design to planet centric design. Environment is a core value at Godrej Appliances. Both manufacturing units of Godrej Appliances’ - in Maharashtra and Punjab, became the first in the country to win the coveted Platinum Plus Green Co certification for its pioneering green manufacturing practices. 

The brand takes pride in not just its carefully designed products and environment-friendly technologies, but also best in class after-sales service delivered through over 680 service centers and more than 4500 SmartBuddy service experts spread all over the country.

3i Infotech Announces Sale of its Software Products Business to Funds Advised by Apax Partners

3i Infotech Limited, a global information technology company, today announced that it has entered into definitive agreements to sell its Software Products business to funds advised by Apax Partners, for a total consideration of INR 10 billion. The Software Products business will be acquired by a newly formed company named Azentio Software, wholly owned by the Apax Funds. The transaction, subject to shareholder approval and relevant regulatory approvals, is expected to close in early 2021. 
Since its incorporation in 1993, 3i Infotech has been providing a range of IT services and software products to 1,200+ customers across multiple industry verticals in over 50 countries. The company operates through two business segments: 

Services and Software Products. The Services segment, under the brand Altiray®, provides consulting services, business optimization services and an extensive expertise in mobility, data analytics, big data, testing and application development. The Software Products business comprises a comprehensive set of core software products for customers in banking, financial services and insurance (“BFSI”) verticals and includes key products such as Kastle™ (universal banking platform), AMLOCK™ (financial crime detection and compliance software suite), Premia™ Astra (core insurance software), MFund™ Plus (asset management platform) and Orion™ (enterprise resource planning software). 

 Following the transaction, 3i Infotech will continue to pursue strategic growth initiatives in the             IT services business,  supported by a stronger balance sheet. The transaction will revitalise                     growth and accelerate value creation for all stakeholders of 3i Infotech, including customers,                 employees and shareholders. The newly formed Azentio Software will be supported by Apax                 Funds, with increased investments in R&D and sales and marketing. Azentio Software will focus          on investing in its current product portfolio, launching new products and providing best in class            service levels to all customers. The Apax Funds will also use Azentio as a platform to do M&A              across the BFSI software space in the region. 

Padmanabhan Iyer, Managing Director & Global CEO, 3i Infotech, said: “Today’s announcement is transformative and value accretive for all stakeholders of 3i Infotech. I foresee a very exciting future for both the IT services and the software products business. Both businesses will have the resources to capitalise on market opportunities and build long term value for employees, customers and shareholders. I want to thank the entire 3i Infotech team for their commitment and contribution towards the successful journey of the company and I am sure that the teams will be infused with renewed vigour going forward.” 

 

Shashank Singh, Partner and Head of the India office at Apax Partners, commented: “Increasing technology spend on core software systems across the BFSI industry and ERP space is driving rapid growth in the enterprise software market in the region. The newly formed company, Azentio, has a strong portfolio of feature rich products that run the core operations for customers. We are excited to unlock Azentio’s potential and help transform the business into a true regional leader in the software space.”

 

Umang Kajaria, Partner at Apax Partners, added: “ERP, core Banking and Insurance software are key areas of focus for the Apax Funds, with numerous successful investments to date. Azentio provides critical, vertical-specific software that allows its customers to stay competitive. We look forward to partnering with the Azentio management team in driving continued innovation and creating a software leader for the MEA and APAC regions.” 

 
About Apax Partners LLP  
Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. The Apax Funds have a strong track record in the software sector having previously invested in companies such as Duck Creek, MyCase, Eci and Lexitas. For more information see: 

www.apax.com.   

 
About Azentio  
Azentio Software, a newly formed company in 2020 that has been carved out of 3i Infotech, a global information technology  company in 2020. Azentio Software provides critical, vertical-specific software products for customers in banking, financial services and insurance verticals and includes key products such as Kastle™ (universal banking platform), AMLOCK (compliance software suite), Premia™ Astra (core insurance software), Orion™ (enterprise resource planning software) and MFund™ Plus (asset management platform).  

About 3i Infotech  

Headquartered in Mumbai, India, since its inception in 1993, the Company has been committed to driving business value across all industry verticals. The Company has over 5500 employees in 32 offices across 12 countries and over 1200+ customers in more than 50 countries across 4 continents. With a comprehensive set of IP based software solutions and a wide range of IT services, 3i Infotech has successfully transformed business operations of customers globally. The company has a very strong foothold and customer base in geographies like North America, India, Asia Pacific, Middle East and Africa, South Asia and Europe.