Medtronic Launches Arctic Front Advanced Cardiac Cryoablation Catheter Technology For Treatment Of Atrial Fibrillation In India

* First patient in India treated at Max Hospital, Saket

* Nearly 60 million people worldwide are affected by atrial fibrillation1

India Medtronic Private Limited, a wholly owned subsidiary of Medtronic plc (NYSE:MDT) — a global leader in healthcare technology, today announced the launch of Arctic Front™ Cardiac Cryoablation Catheter System, the first and only cryoballoon catheter approved by CDSCO for treatment of atrial fibrillation (AF) in India. Dr. Balbir Singh, chairman of Cardiology, Pan Max Hospital Saket, Delhi, successfully performed the first procedure in India using the Arctic Front Cardiac Cryoablation Catheter System. Cryoballoon catheter ablation, a minimally invasive procedure, is one of the therapeutic modalities to manage AF.

Nearly 60 million people worldwide are affected by AF.1 AF is an irregular heart rhythm that affects the upper chambers (atria) of the heart. A normal heart beats around 60-100 times per minute. However, in AF, the atria quiver instead of beating normally. AF can also lead to rapid heart rhythm, where the heart can beat as much as 300 times a minute or more in the atria and up to 150 times a minute or more in the lower chambers (ventricles). Additionally, AF is associated with serious complications including heart failure, stroke and increased risk of death.2-5 Indian patients with AF tend to be over a decade younger than AF patients in the western world, and two-thirds of them have either persistent or permanent AF.6 Indian AF patients also tend to have higher rates of death compared to other countries.6,7

“AF is a progressive disease, meaning over time patients can experience more frequent, and longer episodes. Cryoballoon ablation is a safe and effective treatment before or after medication therapy to control atrial fibrillation,” said Dr. Singh. “By treating patients with the most advanced, clinically relevant technology, we are better equipped to successfully manage their atrial fibrillation, thereby improving their overall quality-of-life.”

"Cryoballoon ablation is a minimally invasive procedure that offers a short recovery time and comparable safety and efficacy to standard radiofrequency therapy, but with the benefit of greater treatment efficiency. In collaboration with leading clinicians, researchers, and scientists worldwide, Medtronic offers the broadest range of innovative medical technology for the interventional and surgical treatment of cardiovascular disease and cardiac arrhythmias,” said Madan Krishnan, vice president and managing director, Medtronic India.

Cryoablation is designed to prevent unwanted electrical signals from traveling from the pulmonary veins (large blood vessels that carry blood from the lungs to the left atrium of the heart) and spreading to the atria (the upper chambers of the heart). This is done with a technique known as pulmonary vein isolation that targets the tissue where the veins and the atria connect and prevents the spread of unwanted electrical signals. The Medtronic cryoballoon catheter was developed specifically to achieve pulmonary vein isolation. This innovative technique has been used to treat more than 1,000,000 patients in more than 80 countries with robust safety and effectiveness evidence in more than 1200 peer-reviewed articles.8

During June of this year, Medtronic received U.S. Food and Drug Administration (FDA) expanded approval in the United States for the Arctic Front™ Family of Cardiac Cryoablation Catheters for the treatment of recurrent symptomatic paroxysmal atrial fibrillation (episodes that last less than seven continuous days) as an alternative to antiarrhythmic drug (AAD) therapy as an initial rhythm control strategy. This new indication expansion should help physicians treat AF patients earlier in the disease progression stage, which may enhance the therapeutic effectiveness.

About Medtronic

Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for all. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

Banks Could Increase Annual Revenues By Nearly 4% By Embracing Innovative Business Models Of Digital-Only Players: Accenture

* Banks have an opportunity to reap an additional US$518 billion in revenues by 2025

By rethinking their business models and embracing the innovative strategies of digital-only banking and financial services new entrants, traditional banks could boost revenues by nearly 4% annually, resulting in more than half a trillion dollars in additional revenues by 2025, according to a new report from Accenture (NYSE: ACN).

The report, “The Future of Banking: It’s time for a change of perspective,” analyzes the business models of nearly 100 leading traditional banks and over 200 digital-only players in 11 countries across North America, Europe, Asia-Pacific, and Latin America and the role they play in the banking value chain. It identified two common business models:

vertically integrated — traditional, linear business models, i.e., those that sell only their own products, those that distribute products from other providers, and those that deliver technology or business processes to others; and

non-linear — adaptive business models, i.e., “packagers” that assemble new propositions, adding value beyond just distribution; and firms that embed their propositions into third-party services, such as “buy now, pay later” services embedded into the merchant point-of-sale.

Many of the leading banks analyzed in the report have vertically integrated business models. However, the report found those that unbundle their traditional products and partner with third parties to create and distribute new personalized customer offerings can potentially achieve breakout growth and higher market valuations. Specifically, by layering non-linear business models on top of the traditional vertically integrated model, they could boost their annual growth rates by up to an additional 3.8%, which would result in US$518 billion in total additional revenues by 2025.

“On the surface, the banking industry appears healthy, with big banks posting robust revenues and profits,” said Michael Abbott, a senior managing director at Accenture who leads its Banking industry group globally. “But a closer look reveals that the combination of low interest rates, fee compression from increased competition, and undifferentiated product offerings is slowly eroding banks’ share of gross domestic product. And in many markets, banking and payments revenues are flowing from incumbents to new entrants. To re-ignite growth, traditional banks need to reimagine how they create and deliver compelling products that focus on customers’ intentions. That will require rethinking their vertically integrated business models.”

The report notes that between 2018 and 2020, digital-only players performed significantly better than traditional banks. But those that adopted non-linear business models achieved 76% compound annual growth rate (CAGR) in revenue, while those digital players simply emulating traditional, vertically integrated models achieved only 44% CAGR. Traditional banks in even the best-performing mature markets grew revenue at an average rate of less than 2% annually – albeit off a much larger base.

The report lists ways that traditional banks can leverage their strengths — their balance sheet power, risk management expertise, and regulatory savvy — to increase business model flexibility and differentiate themselves from the competition. Specifically, they should consider embracing one or a mix of the following models:

Sell only products that the bank produces and control all layers in the value chain, from manufacturing to distribution, with a key value driver being the ability to consolidate via M&A and take market share.

Build a distribution-driven ecosystem, distributing banking and financial products from other companies, and create a marketplace to distribute non-banking products.

Seek scale by delivering technology or business processes to other companies.

Create new propositions by building or bundling fragmented products and services, which can be distributed by the bank or third parties.

“Being digital is no longer a differentiator,” said Dilnisin Bayel, a managing director in Accenture’s Strategy & Consulting group in the U.K. “To capture growth, traditional banks need to go beyond becoming the best digital versions of themselves and become adept at operating multiple business models simultaneously. This will require that they shift their perspective to consider adaptive models that put product innovation, embedded distribution, purpose, and sustainability at the forefront. Banks can choose to continue to innovate at their current pace or take a fast-follower or leader approach to business model transformation – but they can’t afford to remain stagnant.”

The full report can be found here.  

Accenture’s Banking industry group helps retail and commercial banks and payments providers boost innovation; address business, technology and regulatory challenges; and improve operational performance to build trust and engagement with customers and grow more profitably and securely. To learn more, visit  https://www.accenture.com/us-en/industries/banking-index. 

Methodology

The report, “The Future of Banking: It’s time for a change of perspective,” is based on quantitative and qualitative analysis of the business models of nearly 100 leading incumbent banks (by size of total assets) and more than 210 new banking and financial services entrants (defined by valuation, funding, and revenues) in 11 countries, including Australia, Brazil, Canada, China, France, Germany, Italy, Spain, the United Arab Emirates, the U.S. and the U.K. The analysis was complemented with data from the 2020 Accenture Banking Consumer Study and interviews with banks, digital financial services providers, industry analysts and investors.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

Tata Motors Partners With Bank Of India To Offer An Attractive Financing Scheme On Passenger Vehicles

 

Key Highlights:

* Maximum finance up to 90% road funding (Ex-Showroom + Insurance + Registration)

* Rate of interest (ROI), starting from as low as 6.85%

* Minimum EMI starting from Rs.1502/- per lakh for 7 years

* Nil processing charges till 31st March 2022

In a constant endeavor to make ownership of cars an easy process for customers and adding to the celebrations of this festive season, Tata Motors, India’s leading automotive manufacturer, has signed a retail finance MoU with Bank of India (BOI), one of India’s leading nationalised banks, to offer exciting finance options to all its passenger vehicle customers.

As part of the tie-up, BOI will provide loans to Tata Motors’ customers at an interest rate starting from as low as 6.85%. This scheme will offer a maximum of 90% financing on the total cost of the vehicle (Ex-showroom pricing + Insurance + Registration). Customers can also enjoy a benefit of a special EMI option starting with Rs. 1502/- per lakh on a 7-year repayment period. The Bank has also designed certain exclusive features for Tata Motors car buyers availing BOI car finance option which includes Zero processing charges till 31st March 2022, FOIR (Fixed Obligation to Income Ratio) basis which the current liabilities of the customer applying for loan will be capped at 70% irrespective of the income slab and a Higher loan amount eligibility for purchasing Tata Cars.. These offers will be applicable on the New Forever range of ICE Cars and SUVs as well as on EVs for personal segment buyers across the country.

Commenting on the association, Mr. Rajan Amba, Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit, Tata Motors said, “We, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. We are delighted to join hands with the Bank of India and this partnership is in line with our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season. We hope that these offers will make the process of purchasing our cars much easier for customers and that this will positively impact their overall buying experience of Tata cars.”

Commenting on the assertion, Mr. Rajesh Ingle, General Manager - Retail Business said “We, at Bank of India have reoriented the banking services with retail customer as focal point by designing products that are aligned to customer needs. Our vehicle loan products with lowest rate of interest is one such product. Bank’s Tie-up with Tata Motors will be win-win for customers in the sense that they can access Best in class personal mobility solution with the Best finance option from Bank of India”.

To avail the above schemes, customers can reach out to their nearest Tata Motors dealer or through the Bank of India branch, register their interest in buying a Tata car. To know more about offers and car buying options, call your nearest dealership or visit https://cars.tatamotors.com/. Customers can also enquire, request a test drive, make bookings, and select their preferred financing option via ‘Click to Drive’, Tata Motors’ end-to-end online platform, from the comfort and safety of their homes.

DNIF And SecurityHQ Build On Unique Analytic Engines To Detect Active Threat Campaigns

* NETMONASTERY engages with best-in-class Managed Detection and Response (MDR) provider SecurityHQ to deliver superior cyber threat detection capability at enterprise scale.

NETMONASTERY NSPL, a Security Information and Event Management (SIEM) solution provider with superior analytics and extreme scaling capabilities announced its partnership with SecurityHQ, a global Managed Security Service Provider, delivering superior engineering-led solutions to clients around the world. By combining dedicated security experts, cutting-edge technology, and processes, SecurityHQ clients receive an enterprise-grade experience that ensures that all IT virtual assets, cloud, and traditional infrastructures, are protected.

Under this engagement, the two companies agree to work together to bring high-caliber threat detection, entity monitoring and automated response to its prospects. This partnership will enable customers to enjoy cutbacks in the total cost of ownership of the SIEM infrastructure and a reduction in the cost of security operations.

Today, NETMONASTERY delivers through its product DNIF HyperScale SIEM, a single-window cybersecurity solution designed for enterprise Security Operations Centers (SOC), that includes a combination of a SIEM, User and Entity Behaviour Analytics (UEBA) and Security Orchestration, Automation and Response (SOAR). The product delivers pioneering threat attribution using subjective machine intelligence and detects multi-stage threats without human arbitration.

Optimizing the MDR Service

Service providers in the existing MDR space find it difficult to onboard customers quickly with the pre-configuration required for the deployment and integration process, therefore adding a substantial delay in time to value. A reduced total cost of ownership for the MDR operation brings out great advantages that can be passed on to the customer and will result in customers onboarding high volume data sources and devices/applications that were currently out of scope. Bringing better visibility and providing better observability metrics for the threat landscape.

By joining forces with SecurityHQ, customers will benefit from a truly high-end service provider that maintains high standards in enterprise threat management and focuses on stronger integration with the customer environment. DNIF HyperScale SIEM will enhance the service quality by operationally changing the efficacy and efficiency of detecting threats with automated threat discovery using cognitive machine learning technologies. DNIF also reduces the burden on threat handlers by automating tasks like validation and response.

‘With DNIF, SecurityHQ has been able to add yet another enterprise-grade SIEM to our portfolio of handpicked technology providers. DNIF team ensured that we got the required support to integrate it seamlessly in our flagship MDR service offering, guaranteeing we can maintain the same high standards of our service. With DNIF we are able to provide a flexible and powerful SIEM option, coupled with our globally recognised MDR service to our enterprise clients in India’ - Sanket Khanolkar, COO, SecurityHQ

‘DNIF HyperScale SIEM has strong analytic capabilities that will help us set benchmarks in user and entity analytics. The all-in-one platform that includes a SIEM, UEBA and SOAR has been optimised for a good threat management workflow and is efficient for enterprise-scale deployments’, says Feras Tappuni, CEO, SecurityHQ

Impact and change in threat detection strategies

DNIF HyperScale SIEM leverages MITRE ATT&CK® as the primary framework for threat detection, it maps all detection strategies being used on to the framework, which helps to understand the threat detection coverage of the organisation. This alignment also helps customers prioritise log sources before integration is planned therefore ensuring the fastest time to value.

“SecurityHQ has a customer-first attitude that reflects in their reviews and growth that they have demonstrated in the last few years. Taking the customers' viewpoint, SecurityHQ has a strong MDR process, because they take the effort to dive deep into the customer environment to create a threat detection strategy that is contextual and relevant to the customer” said Shomiron Das Gupta, Founder and Chief Executive Officer of NETMONASTERY.

About NETMONASTERY

NETMONASTERY provides log analytics and threat detection capabilities for security operations centres. Leveraging cognitive machine learning, the DNIF HyperScale SIEM protects customers from cyber-attacks using advanced analytics with a combination of SIEM, UEBA and enhanced response using SOAR. DNIF is part of the cybersecurity nerve centre for leaders in finance, banking, government, media, manufacturing, and electronic commerce.

Website: www.dnif.it

About SecurityHQ

SecurityHQ is a Global Managed Security Service Provider (MSSP) that detects, monitors & responds to cyber threats 24/7, to ensure complete visibility and protection. The right combination of tools, skills, people, and processes is essential to manage, detect and defend your environment from all malicious activity proactively and e­ffectively. Our mission is to provide world-class security operations, to empower our clients and partners, to integrate processes seamlessly, and act as an extension of our user’s own teams to address specific risks and challenges and improve security posture.

Integrity & Transparency

Our code of ethics is fundamental, not only to our business success, but to the growth of all that we value. We place the power of our SOC team into the client’s hands, providing complete visibility of the digital footprint, systems and processes, specific threats, and security posture.

Innovation

Cyber threats are increasing, both in terms of volume and sophistication. Which means that traditional approaches need to be re-evaluated. SecurityHQ combines best-in-business technology, processes, and expert minds to provide solutions to your security needs.

Independent Consulting Study Reveals Enterprises Can Achieve 352% ROI With ManageEngine ServiceDesk Plus

* Total Economic Impact Study Uncovers Benefits of About $2.67 Million

* Estimates organizations using ServiceDesk Plus have a payback period of less than six months

* Quantifies that businesses can save over $1 million in service agent productivity

* Read the entire study at https://mnge.it/Tpq

ManageEngine, the enterprise IT management division of Zoho Corporation, today announced the findings from the Total Economic Impact™ (TEI) study it commissioned for its flagship, full-stack ITSM solution, ServiceDesk Plus.

The study revealed that ServiceDesk Plus users can see total economic benefits of a net present value up to $2.08 million over three years. The study, conducted by Forrester Consulting, demonstrated the benefits and savings businesses gain by implementing ServiceDesk Plus for their IT and enterprise service management operations.

For this global study, Forrester interviewed four decision-makers across the financial services, telecommunications and cosmetics industries who are using the Enterprise Edition of ServiceDesk Plus. Based on these interviews, Forrester composed a representative composite organization to analyze the benefits and costs of implementing ServiceDesk Plus. The study concluded that enterprises can achieve an ROI of up to 352% when they migrate to ServiceDesk Plus.

"Choosing the ITSM solution that best fits their needs and process maturity continues to be a top challenge for IT organizations," said Rajesh Ganesan, vice president at ManageEngine. "Among other factors, establishing a credible ROI is critical for technology leaders to convince those making purchasing decisions. ServiceDesk Plus is a popular choice among thousands of customers already, and this comprehensive Forrester study can help enterprises reach a decision faster when selecting an ITSM tool and build conviction about the solution’s potential ROI."

The study quantified the various benefits that organizations experience with ServiceDesk Plus. Here are some of the key findings:

Improved service agent productivity: The TEI study observed that service agents processing tickets save an average of 10 minutes per incident ticket and six minutes per service request ticket after implementing ServiceDesk Plus. The study credited the time saved in the composite enterprise to ServiceDesk Plus' process automation capabilities. One interviewee also testified that their organization processed up to 30% of the tickets the organization received without human intervention. These productivity gains accounted for over $1 million in value for the composite customer.

Improved change and asset management efficiency: The study estimated that the composite enterprise saved an average of 4,300 hours a year on IT asset audits and managing change requests, meaning IT managers spend up to 75% less time on the service desk activities mentioned above with ServiceDesk Plus. This improved efficiency resulted in gains of over $350,000 in value.

Improved end-user productivity: According to the TEI study, there was a significant increase in end-user productivity after using ServiceDesk Plus. This was a result of users spending less time raising tickets and of them having greater visibility throughout the ticket process. The study estimated that the composite workforce saved over 11,000 hours a year on ticket submissions with ServiceDesk Plus, resulting in over $680,000 worth of end-user productivity.

Reporting and analytics output gain: The study noted that ServiceDesk Plus' reporting and analytics capabilities saved the composite IT manager an average of eight hours per report. The analytics also assist organizations in identifying end-user pain points from the most common types of tickets submitted. When these benefits were projected to the composite enterprise, they contributed to over $215,000 in value added.

According to the TEI study, ServiceDesk Plus isn't an isolated solution for the IT department. It comes with rapid-start enterprise service management features that extend ITSM capabilities beyond technology services to address business-centric use cases. “IT, human resources, finance—almost everyone in the company uses ServiceDesk Plus regularly," said a director of IT service management interviewed by Forrester. 

Besides the quantified benefits, the TEI study reported on the flexibilities of ServiceDesk Plus, including its integrations with ManageEngine's expansive product ecosystem. One interviewee said, "We looked for a one-stop software solution. We're using multiple tools from ManageEngine in addition to ServiceDesk Plus. The best part is that they're all integrated with each other."

To read a copy of the entire Forrester Consulting's Total Economic ImpactTM study for ServiceDesk Plus, visit https://mnge.it/Tpq.

About ServiceDesk Plus

ServiceDesk Plus is the full-stack service management platform from ManageEngine, the enterprise IT management division of Zoho Corporation. Built on industry-recommended ITSM best practices, ServiceDesk Plus comes packed with contextual IT and business integrations that help service desk teams better align with their organization’s business objectives. With native enterprise service management capabilities and unrestricted extensibility offered through low-code scripting, ServiceDesk Plus helps organizations design, deliver and support their business and IT services. It comes in three editions and is available in 37 different languages. More than 100,000 organizations across 185 countries trust ServiceDesk Plus to optimize service management and achieve high end-user satisfaction. To learn more about ServiceDesk Plus and its features, please visit manageengine.com/service-desk.

About ManageEngine

ManageEngine is the enterprise IT management division of Zoho Corporation. Established and emerging enterprises—including 9 of every 10 Fortune 100 organizations—rely on ManageEngine's real-time IT management tools to ensure optimal performance of their IT infrastructure, including networks, servers, applications, desktops and more. ManageEngine has offices worldwide, including the United States, the Netherlands, India, UAE, Mexico, Singapore, Japan, China and Australia, as well as 200+ global partners to help organizations tightly align their business and IT. For more information, please visit manageengine.in; follow the company blog and on LinkedIn, Facebook and Twitter.

BITS Pilani Announces Admissions To Work Integrated Learning Programmes

* The programmes promise industry-relevant higher education experience to working professionals, without taking a sabbatical

* In last 40 years, BITS Pilani's WILP has enabled over 87,000 working people to pursue industry relevant higher education degree programmes

BITS Pilani, an Institution of national repute, is known for providing technical education of the highest standards, and is well recognised for its innovations in education and strong links with industry. The institute has announced its next cycle of admissions for its Work Integrated Learning Programmes (WILP) that are designed for and offered to only working professionals looking to upgrade their educational qualifications in industry-relevant technology and management domains.

BITS Pilani's WILP has enabled over 87,000 working people to get industry-relevant higher education qualifications without taking a career sabbatical for over the last 40 years. The curriculum is continuously being innovated and refreshed to reflect the latest developments in technology and trends within industry. With the aim to provide the highest quality experience and commitment to transparency WILP gives opportunities to upgrade your career and stay relevant.

Prof. G. Sundar Director Off-Campus Programmes & Industry Engagement, BITS Pilani, said “While working professionals strive to excel in highly technical and challenging careers, we aim to provide them with the highest quality education experience relevant to their specialisation along with opportunities to upgrade and stay relevant, and that too without having to take any career breaks.”

WILP includes a range of programmes from B.Tech. , M.Tech., M.Sc., MBA and Diplomas offered exclusively for working professionals in industry sectors such as IT & ITES, Automotive, Manufacturing, Chemicals, Pharmaceuticals, Healthcare, and BFSI. The programmes use a Continuous Evaluation System that assesses the learners over convenient and regular intervals. Such a system provides timely and frequent feedback and helps busy working professionals stay on course with the programme.

These Higher Education Programmes for working professionals are offered in high demand areas for many key Industry sectors. IT & ITES Sector Employees can pursue programmes with specialization in trending domains like Data Analytics, Business Analytics, Internet of Things, Embedded Systems, Security, Networks & Cloud, Fintech, Software Engineering, Infrastructure Management etc.,

The Manufacturing sector professionals can pursue programmes that enable them to specialize in domains such as Automotive Electronics, Automotive Engineering, Design Engineering, Digital Manufacturing, Process Engineering, Quality Management, and Manufacturing Management etc. WILP also offers a range of technology and management programmes for the pharmaceutical & health care sector employees as well.

Key highlights of the programme:

●        With technology enabled synchronous classes conducted mostly on weekends or after business hours. Working professionals can pursue these programmes without any career break.

●        These programmes lead to award of degrees, or diplomas in science technology/engineering, and management domains

●        The education delivery methodology is a blend of classroom and experiential learning. Experiential learning consists of lab exercises, assignments, case studies and work-integrated activities.

●        Participants who successfully complete the programme will become members of an elite & global community of BITS Pilani Alumni

**Working professionals who are keen to apply to these programmes can do so online by visiting the BITS Pilani’s work integrated learning programme web site https://bits-pilani-wilp.ac.in/

The Last date for application is 6th December, 2021**

About BITS Pilani Work Integrated Learning Programmes:

India has a large and qualified professional workforce, which must and will continue to grow in size, complexity, and quality. Given the nature of modern professions, and the acquired reputation of Indian professionals in these roles, continual learning and higher educational qualifications are necessary tools for the nation to succeed within, and compete globally. Work Integrated Learning Programmes of BITS Pilani (WILP) are degree/diploma/certificate programmes which are developed and conducted by BITS Pilani in association and jointly with organizations representing various industry sectors.

About BITS Pilani:

BITS Pilani is an Institution of national repute, known for providing technical education of the highest standards and is well recognized for its innovations, and strong links with industry. It is consistently ranked as the best private engineering & technology institution by leading ranking agencies and publications. MHRD, Govt. of India, in August 2018 announced BITS Pilani as one of the first six Institutions of Eminence in the country. It is one of the few universities that has created an institutionalized framework for achieving a vibrant environment that successfully inculcates an ambience for experiential and cooperative learning and education. BITS Pilani views education as a continual engagement and experience, and ensures that the learning experience is integrated seamlessly not only across its classrooms and laboratories, but also in the industry, as exemplified by its Practice School, and Work Integrated Learning Programmes.

Kedaara Acquires Majority Stake In GS Lab, A Player In Digital Product Engineering Services

* NASSCOM expects India’s engineering R&D sector to grow at a CAGR of 13% to US$ 65bn by 2025

Great Software Laboratory Private Limited (“GS Lab”), a leader in digital product engineering services, today announced the acquisition of a significant majority stake in the company by Kedaara, a leading private equity firm. GS Lab has grown at a stellar rate of 20%+ over the last five years.Investment from Kedaara will enable GS Lab to:

Accelerate business growth by leveraging global relationships of Kedaara and Clayton, Dubilier & Rice (“CD&R”), a global private equity firm and JV partner of Kedaara,

Deliver digital product engineering services to a wider pool of customers across Independent Software Vendors (ISVs), enterprises, and digital-native companies globally, and

Continue to focus on leading-edge technologies to meet the digital needs of customers and create an enriching work environment for all employees.

“Over the past 18 years, we have scaled GS Lab into a 1600+ person innovation-led organization,” said Shridhar Shukla and Sunil Gaitonde, the co-founders of GS Lab. “The investment by Kedaara will enable us to further build on our strengths and take advantage of the growing need for innovative software and digital solutions across industries globally and in India, by leveraging Kedaara and CD&R’s extensive network and relationships.”

Sunish Sharma, Co-CEO & Managing Partner of Kedaara, and Parin Mehta, Managing Director of Kedaara, said, “Digital transformation is one of the key investment themes for us, and we are very excited to partner with the GS Lab team to support their continued development of outstanding digital software products for their clients worldwide. Shridhar, Sunil, Atul and the senior leadership team have truly built a strong platform at GS Lab with exceptional product engineering capabilities, focus on innovation and partnerships with world-class clients.”

Digital product engineering services is a high-growth sector globally. According to NASSCOM[1], India’s engineering R&D sector is expected to grow at a CAGR of 13% to US$ 65bn by 2025, up from US$ 31bn in 2019. This growth is being fueled by rapidly accelerating digitalization across all industry verticals. India is uniquely positioned to tap into this opportunity and support global MNCs with their digital transformation efforts, given a strong focus on innovation, a large and diverse talent pool, and the ability to provide differentiated service delivery. GS Lab is at the forefront of this digital transformation, functioning as the innovation engine for ISVs, digital-native startups, and enterprises globally.

Pramod Bhasin, Operating Partner, Kedaara, and former President and CEO, Genpact, said, “It is quite clear that digital is becoming the core differentiator for businesses across the board globally. With a strong product DNA and IP-led culture, GS Lab is very well positioned to be one of the premier digital engineering service providers based out of India.”

GS Lab works through the entire software development cycle, from ideation through design, development, execution, deployment, and support. Its team of engineers and product architects offer cutting-edge capabilities in cloud, identity management, security, IoT, AI/ML and data sciences to its clients across sectors. The company differentiates itself through its strong innovation-led R&D culture with an extensive set of IP-driven in-house accelerators. 

“We are very pleased to partner with Kedaara for continuing GS Lab’s growth journey,” said Atul Narkhede, the CEO of GS Lab. “We have built a culture of technological innovation and client centricity. Kedaara has significant experience in scaling businesses while retaining the same entrepreneurial ethos and are an ideal partner for the organization’s next phase of growth.”

DC Advisory acted as the sole financial advisor to GS Lab on the transaction.

About Kedaara

Kedaara is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. It currently advises / manages over ~US$ 3.9 billion through investments in several market leading businesses across a variety of sectors including consumer, financial services, pharma/healthcare, technology / business services and industrials. Kedaara’s operating partner model comprising former CEOs with proven track records of building market leading businesses that enables businesses to realize their full potential. Since its inception, Kedaara has remained singularly dedicated to its stated strategy of focusing on investments built through trust-based relationships with best-in-class entrepreneurs and management teams across secular fast growing end markets. Kedaara was co-founded by Manish Kejriwal, Sunish Sharma and Nishant Sharma and combines the strengths of a well-networked, highly experienced local investing and operating team, with the experience of their strategic partner, Clayton, Dubilier & Rice, a global private equity firm whose investment model blends financial skills with operating expertise.

For further information about Kedaara, please visit: https://kedaara.com

About Great Software Laboratory Private Limited

GS Lab is a provider of digital product engineering services, helping ISVs and enterprises build, deploy and manage their digital products. Over 18 years, GS Lab has engineered 350+ software and digital products for its customers. Their innovation-led culture and client-centric engagement model helps GS Lab craft solutions for its clients in a nimble and agile manner. Headquartered in Pune, GS Lab has engineering centers across India, the USA and the UK, and services clients across technology, telecom, communications, networking, healthcare, financial services, real estate, and various other industries. The company works with ISVs and enterprises, both large market-leading organizations as well as emerging innovators, to enable them to develop and manage new digital products.

For further information about GS Lab, please visit: https://www.gslab.com/