Wednesday, May 25, 2022

Samsung Electronics And Red Hat Announce Collaboration In The Field Of Next-Generation Memory Software


- Far-ranging collaboration in next-generation memory software technology aimed at gaining full support throughout the Red Hat Enterprise Linux operating system

- Development and verification of software solutions at new 'Samsung Memory Research Cloud' to aid in configuring optimal hardware and software combinations in server environments

Samsung Electronics, the world leader in advanced memory technology, and Red Hat, Inc., the world’s leading provider of open source solutions, today announced a broad collaboration on software technologies for next-generation memory solutions. The partnership will focus on the development and validation of open source software for existing and emerging memory and storage products, including NVMe SSDs; CXL memory; computational memory/storage (HBM-PIM, Smart SSDs) and fabrics — in building an expansive ecosystem for closely integrated memory hardware and software.

The exponential growth of data driven by AI, AR and the fast-approaching metaverse is bringing disruptive changes to memory designs, requiring more sophisticated software technologies that better link with the latest hardware advancements.

“Samsung and Red Hat will make a concerted effort to define and standardize memory software solutions that embrace evolving server and memory hardware, while building a more robust memory ecosystem,” said Yongcheol Bae, Executive Vice President and Head of the Memory Application Engineering Team at Samsung Electronics. “We will invite partners from across the IT industry to join us in expanding the software-hardware memory ecosystem to create greater customer value.”

“In the upcoming data-centric era, the integration of memory-centric hardware and software architectures will become increasingly essential, and for this purpose, Red Hat is happy to participate in the joint undertaking with Samsung,” added Marjet Andriesse, Senior Vice President and Head of Red Hat Asia Pacific.

The new partnership marks the first time that Samsung has joined forces with an open source software company to foster engagements across the IT marketplace. As an extension to this strategic collaboration, Samsung will launch the Samsung Memory Research Cloud (SMRC), where the two companies will develop and verify software solutions on diverse server environments.

Serving as an open collaboration hub, the SMRC will enable customers and partners to evaluate new software products in configuring optimal combinations with memory hardware.

The companies will also participate in open source communities such as the Linux Foundation, to ensure that their software technology has full support in Red Hat Enterprise Linux, and with other open source software stacks.

Samsung plans to open its SMRC platform in the second half of this year and expects it to act as an ongoing catalyst for innovation in future IT systems.

Take-Two Interactive Software, Inc. Completes Combination With Zynga Inc.


Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (“Take-Two” or the “Company”) announced today the completion of its combination with Zynga Inc. (“Zynga”). Under the terms of the merger agreement, Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.

“We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities,” said Strauss Zelnick, Chairman and CEO of Take-Two. “As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value.”

“We are excited for Zynga’s next-generation mobile platform, free-to-play expertise, diverse offering of games and incredible team to join the Take-Two family,” said Frank Gibeau, CEO of Zynga. “We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history.”

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are currently designed for console gaming systems, PC, and Mobile including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO.

AWS Trains Over Two Million Individuals, Continues To Bridge The Cloud Skills Gap In India


Today, Amazon Web Services (AWS) announced AWS trains over Two Million individuals, continues to bridge the cloud skills gap in India. India is riding a wave of innovation, which relies heavily on a digital workforce equipped to meet the rising demand for cloud computing. The region’s prosperity requires a strong digital workforce and tech professionals with relevant and current digital skills to keep up with the pace of change. An Amazon Web Services, Inc. (AWS) commissioned research report from AlphaBeta titled Building Digital Skills for the Changing Workforce found that by 2025, 63% of workers in India will feel the need for training in cloud-related skills to progress in their careers; and three of the top five most demanded digital skills by 2025 will be cloud-related.

To meet the rising demand for digitally skilled workers, India’s current workforce needs to evolve. Today, AWS announced it reached a milestone in its drive to address the technology talent gap by providing cloud skills training to over two million individuals in India since 2017.

“I’m proud that AWS has provided cloud skills training to over two million people in India, and we acknowledge that much more work must be done as we continue to build a better digital future in India,” said Phil Davis, Managing Director of Asia Pacific and Japan Commercial Sales at AWS. “To build a diverse and ready workforce, governments, training providers, and employers must work together to provide more accessible and targeted skills training. Our goal is to help people—from beginners to seasoned IT professionals—gain new cloud computing skills, and we are committed to collaborating with the industry and governments to help bridge the digital skills gap.”

Addressing the Skills Gap Through Extensive Training Programs

AWS collaborates with higher education institutions, nonprofits, workforce development organizations, governments, and employers on a range of digital upskilling programs aimed at preparing the next generation of cloud professionals for early cloud careers and building a diverse pipeline of entry-level talent for the workforce.

In India, this includes programs like AWS re/Start, which is a free, 12-week, full-time, skill-development program that prepares unemployed, underemployed, and transitioning individuals for careers in cloud computing. The program is part of AWS’s global commitment to invest hundreds of millions of dollars globally to provide free cloud computing skills training to 29 million people. In April this year, AWS, IPE Global, and AISECT collaborated to launch two re/Start cohorts specifically targeted toward women in Rajasthan. The program focuses on connecting graduates with local employers, including AWS Partner Capgemini, a global leader in consulting, digital transformation, technology, and engineering services, who is actively hiring re/Start program graduates into entry-level cloud roles.

These programs are helping to shape our future workforce and build a pipeline of digital workers that would previously have not joined the industry. When the pandemic hit, Rashmi Sharma found her events industry job was uncertain. Despite having no prior IT background, she decided to explore a career in IT. “The COVID-19 pandemic pushed me to reevaluate my career,” said Sharma. “I decided to pursue an IT job. AWS re/Start was the only program I found that was designed for individuals like myself with no formal education or work experience in the IT industry, but with a high drive to pivot into the sector. With the help of my mentor, who patiently guided me and others through the 12 weeks, I delved into coding and cloud computing. I’m now a trainee engineer at Wissen Infotech, and I’m looking to continue upskilling through other AWS Cloud training programs.”

Taking an industry-wide approach to upskilling

In addition to training individual workers, AWS helps customers, partners, and organizations of all sizes in India build the cloud skills they need to accelerate innovation and achieve business goals. For example, Perfios, a leading provider of financial statement analysis software in India, has been on a rapid growth trajectory since its founding in 2008. To drive faster development, Perfios wanted to close gaps in their developers’ AWS knowledge. AWS designed a customized learning plan that led 500 Perfios employees (about 60% of their workforce) through a series of 11 technology tracks, consisting of 25 training sessions on topics including technology essentials, DevOps, containers, big data, and architecture. This upskilling initiative helped Perfios cut development time for new products by more than 50%, improve platform reliability by 40–50%, reduce maintenance time by 40–50%, and support global business growth.

“We had to train our developers on serverless technologies, DevOps, and managed services to build the expertise we needed,” said Ramgopal Cillanki, Senior Vice President and Head of Engineering at Perfios. “We would occasionally face system downtimes because we weren’t adept in scaling and managing instances. Because of our upskilling in AWS serverless and AWS Managed Services, we reduced our maintenance time by 40–50% and lessened the impact on our customers.”

Investment in training is also crucial for AWS Partners; a skilled workforce empowers teams to support customers with confidence and credibility. For example, at the beginning of 2021, TCS setup a dedicated AWS Business Unit with the objective of building capability and capacity at scale to ensure joint customer success with AWS.

Aditya Jaigopal Nagarajan, Global Head - Strategic Initiatives and Operations, AWS Business Unit, TCS, said, “At TCS, leaders embrace a dual responsibility to nurture new talent and also to transform existing talent towards achieving the above goal. In partnership with AWS, the TCS-AWSBU talent development fabric not only focusses on the Technology Quotient but also helps build well-rounded professionals by grooming them in key areas such as Industry-specific program management techniques, capability orchestration, partnership behaviors, crisis management etc. This helps our associates drive the business-transformative value to our clients, powered by cloud technologies and set the right tone of inspiration for future generations in TCS.”

Debjani Ghosh, President of NASSCOM, emphasized the need for technology skilling at scale, “Skilling at scale must be a national priority and become India’s competitive edge to enable the country grow as the global powerhouse for developing technological talent. Strong collaboration among government, corporates, and industry associations is the need of the hour to enable the talent pool in India develop competence in emerging technologies that will shape India’s ‘Techade’ (technology driven decade) across domains. NASSCOM and AWS through FutureSkills Prime are committed to further accelerating this growth and making India the global hub for high skilled digital talent.”

Building a diverse, technologically enabled workforce

According to the Building Digital Skills for the Changing Workforce report, one way to help bridge the digital skills gap is to build a more diverse technologically enabled workforce. For instance, 73% of women workers who currently do not do any training indicated an interest in training within the next year. In addition, 62% of women reported that their top motivations to undertake digital skills training are the desire to improve their work productivity and increase their salary. Among women who received training, 94% improved their productivity at work and 91% experienced a salary increase upon undertaking digital skills training, which was higher than the 92% and 86% respectively for men.

Collaboration will drive our digital economy forward

To achieve our innovation goals and upskill our workforce, we need commitments from governments, employers, and workers to develop a culture of lifelong learning. There is immense untapped potential for those in the non-tech workforce to develop their digital skills and, along with their current experience and skills, create transformative advancements in our communities and society.

To learn more about Amazon’s global commitment to provide free public cloud computing skills training to 29 million people, visit AboutAmazon.com/29million.

WSO2 Completes $93 Million Series E Growth Funding Round With The Investment From Info Edge


* Info Edge, which joins lead investor Goldman Sachs Asset Management in the Series E, provides a strategic contribution to WSO2’s accelerated business expansion across India

WSO2, the leader in digital transformation technology, today announced that the company has completed its Series E funding round with the addition of RedStart Labs (India), a subsidiary of Info Edge Limited (NSE: NAUKRI). The move brings the total growth capital raised to $93 million. Info Edge joins lead investor Goldman Sachs Asset Management Private Credit ("Goldman Sachs"), which completed the first tranche of the Series E in November 2021. Info Edge, through its RedStart subsidiary, will contribute strategically to WSO2’s accelerated business expansion across India.

WSO2, with more than 800 customers in over 90 countries, has already established a strong presence in India. Over 35 leading enterprises in India—including government agencies and global leaders in financial services, communications, healthcare and technology—rely WSO2’s products and solutions to drive their digital journeys and deliver innovative experiences to customers. Additionally, over 100 million consumers in India are interacting with these organizations using secure digital services powered by WSO2.

“Across India, we’re seeing growing demand for our uniquely integrated approach to uniting best-in-class API management and integration with identity and access management as more organizations embrace digital business models,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO. “RedStart, as part of Info Edge with its deep market understanding, extensive network, and success in investing in digital businesses like Zomato, will play a strategic role in helping us accelerate our growth and customer adoption in India.”

Since 2005, WSO2 has been delivering on its mission to democratize the development of modern applications and services with industry-leading, cloud native and open-source technologies for API management, integration, and customer identity and access management (CIAM). The company is now expanding upon these offerings with a new generation of platform-as-a-service solutions that further speed customers’ time to market and ability to innovate.

“We believe WSO2 operates at the intersection of two powerful trends of an increasingly API driven world coupled with a wider adoption of open-source software by large enterprises for the flexibility and adaptability to offer agile, personalized services and innovative use-cases for their customers,” said Amit Behl, a partner at Info Edge, who led the company’s investment in WSO2. “As digital transformation accelerates across Indian enterprises and also as open-source forms the foundation of government’s Digital India initiative, we expect India to emerge as a key market for WSO2 not only for its revenue potential but also for developer adoption.”

About RedStart Labs

RedStart Labs (India) is a subsidiary of Info Edge (India) Limited (NSE: NAUKRI) focusing on investing behind innovation and IP led business models. RedStart intends to back early-stage startups creating new ecosystems and outcomes driven by emerging science and fundamental research as well as technology platforms, IP and innovation. For more information, visit https://www.redstartlabs.in.

About WSO2

Founded in 2005, WSO2 enables thousands of enterprises, including hundreds of the world’s largest corporations, top universities, and governments, to drive their digital transformation journeys—executing more than 18 trillion transactions and managing more than 500 million identities annually. Using WSO2 for API management, integration, and customer identity and access management (CIAM), these organizations are harnessing the full power of their APIs to securely deliver their digital services and applications. Our open-source, API-first approach to software that runs on-premises and in the cloud helps developers and architects to be more productive and rapidly compose digital products to meet demand while remaining free from vendor lock-in. WSO2 has over 900 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US. Visit  https://wso2.com to learn more. Follow WSO2 on LinkedIn and Twitter.

Trademarks and registered trademarks are the properties of their respective owners.

SAP Supports VAHDAM India In Their Journey From A Digital Native To An Intelligent Enterprise


* Using SAP’s state-of-the-art cloud technology, VAHDAM’s will bring handpicked Indian teas, superfoods, and native Indian wellness wisdom accessible to customers globally 

SAP, the world leader of enterprise application software and cloud solutions, today announced that VAHDAM® India, a digitally native, leading Indian wellness brand for the world, runs better with SAP’s curated portfolio of solutions for digital natives to further its ambitious growth plans, nurture better business outcomes that deliver superior “Customer Experiences”.

All VAHDAM® India teas, herbs and spices are sourced directly from plantations, farmers and cooperatives, packaged garden fresh at their BRC Certified state-of-the-art facility and shipped directly to their global ful?llment centers in various parts of the world. Their range of Turmeric, Green and Immunity-boosting teas are among the most sought-after products.

With its primary market in the US, VAHDAM® India soon plans to expand its reach to other geographies and go deeper in the existing ones. SAP S/4 HANA Cloud Suite will provide VAHDAM® with a single integrated platform to vertically streamline all business processes, including procurement, finance, and sales. Using SAP cutting-edge cloud technology, the company will be able to define processes, communications, and transactions with its partners, thus helping scale operations globally.

Commenting on the announcement, Bala Sarda, Founder & CEO, VAHDAM® India, said, "We are excited to partner with SAP on our journey to use superior technology across critical functions like manufacturing, supply chain and finance to make available a high-quality product, increase efficiencies and build an intelligent tech-led enterprise for the long term. We strive to take India’s finest tea, spices & herbs to the world and SPA suite will help us do this in a more effective manner.”

Leveraging SAP’s Intelligent Enterprise solutions, VAHDAM® India will further accelerate its growth by managing the nuances of their production and packaging processes in a more straightforward and intuitive manner. The solutions would not only support corporate processes with real-time data, but would also help manage local statutory, financial reporting, and decision-making with embedded analytics.

"Innovation and agility have emerged as key drivers of growth and transformation across start-up communities. Due to the rapid transition from the digital age to the intelligence era, SAP India has been engaging with digital natives and other new-generation internet-led businesses that are mushrooming in the country," said Sanket Deodhar, VP, TATA Group, Unicorn & Digital Natives. "VAHDAM® India is truly putting India on the global stage, and we are honored to help VAHDAM® India solidify its foundation as an intelligent, sustainable company," he added.

Tuesday, May 24, 2022

Venus Pipes & Tubes Shares Lists On Bourses; Closes At A Premium To Its Issue Price


Gujarat-based Venus Pipes & Tubes Limited, one of the leading Stainless Steel Pipes and Tubes Manufacturer, listed on the NSE at Rs 337.50 at 3.53% premium over its issue price. The scrip got listed at BSE at Rs 335 per share, 2.76% per cent premium over its issue price of Rs 326. The company's share price closed at Rs 351.75 per share on the BSE, a 7.90% premium, and at Rs 354.35 per share on the NSE, an 8.70% premium.

As per NSE, the total quantity traded stood at 12.14 lakh shares, on BSE the total Quantity stood at 0.41 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 43.18 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 713.92 Crore as per BSE and Rs. 719.19 Crore as per NSE.

The initial share sale with a face value of Rs 10 per equity share, is entirely a fresh issue of 50,74,100 equity shares, with no offer for sale component and the issue was closed on 13th May 2022. The non-institutional investors portion was subscribed 15.66 times, while the part set aside for Qualified institutional buyers was subscribed 12.02 times. Retail investors had put in bid 19.04 times the shares reserved for them. Overall the issue was subscribed 16.31 times.

SMC Capitals Limited is the sole book running lead managers and Kfin Technologies Limited is the registrar to the offer. The equity shares of the company are proposed to be listed on BSE and NSE.  

Company Information

Venus Pipes & Tubes one of the growing stainless steel pipes and tubes manufacturer and exporter in the country having over six years of experience in manufacturing of stainless steel tubular products in two broad categories namely seamless tubes/pipes; and welded tubes/pipes. It supplies products for applications in diverse sectors including chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper, and oil and gas.

It has a manufacturing plant located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) with a total installed capacity of 10,800 MT per annum and has separate seamless and welded divisions with latest product-specific equipment and machineries including tube mills, pilger mills, draw benches, swaging machines, pipe straightening machines, TIG/MIG welding systems, plasma welding systems, exporting to 20 countries including Brazil, UK, Israel and countries in the European Union, etc.

Venus Pipes recorded profit of Rs 23.63 crore on revenue of Rs 309.33 crore for the financial year 2020-21, against profit of Rs 4.13 crore on revenue of Rs 177.81 crore in previous year. For the nine months ended December 2021, profit stood at Rs 23.60 crore on revenue of Rs 276.77 crore.

AU Bank Extends Its Top-Of-The-Line AU Royale Programme To Salaried And Business Segments


* Benefits like up to 1% cashback on Signature Debit Card spends, complimentary movie tickets, airport lounge access and attractive welcome benefits extended to family members too 

* Expands the affluent banking programme- AU Royale, currently catering to HNI & NRI customers 

AU Small Finance Bank, the largest Small Finance Bank and one of the fastest-growing retail Banks in India, has launched two new products under its affluent banking programme AU Royale – ‘AU Royale Salary’ and ‘AU Royale Business’ Current Account. 

The affluent segment in India is consistently growing. As the Hurun India Wealth Report 2021 estimates, Indian millionaire (USD) households are set to rise by 30% over the next five years. As this segment is experiencing a steady growth, its expectations from banking are ever evolving. Considering this, AU Bank had launched its Royale programme designed specifically to cater to the everyday banking requirements of this segment. While the Bank was already offering customized premium products for HNIs and NRIs, now it has launched niche products, ‘AU Royale Salary’ and ‘AU Royale Business’, specially curated for the salaried and business class respectively.  

Commenting on the launch Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank said, “Over the years, we have seen growing interest from the affluent segment towards our personalized services and higher returns. While we have been a preferred choice of Bank for the self-employed business class, the number of salaried class customers has gradually started growing as we increase our footprint in Metros & Tier-I cities. As we have strategically expanded our range of services across the banking spectrum, with ‘AU Royale Salary’ and ‘AU Royale Business’, we are expanding our class leading solutions to different segments of the affluent customers. In line with our commitment to bring Badlaav in Banking, we shall continue to enhance our proposition and deliver unparalleled value to our customers.” 

The AU Royale Business Current Account offers family banking which allows grouping of business and family accounts. While the Relationship Managers provides end-to-end personalized banking, customers can avail a host of benefits offered by a feature Rich Royale Business Signature Debit Card. Other benefits include best in class Merchant Solutions (QR, PoS, Payment gateway); preferential pricing on banking products; choice of Account Number and domestic airport lounge access. 

The AU Royale Salary Savings account offers family banking for up to five family members and exciting cashback of upto 1% on Signature Debit Card spends. While a dedicated relationship manager provides support all the banking needs, customers can avail a host of other benefits like complimentary movie tickets on BookMyShow; low currency mark-up on international transactions and 75% discount on Lockers. 

Customers wanting to enroll for AU Royale programme can visit www.aubank.in or visit the nearest branch of AU Small Finance Bank. 

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