Business mergers and Acquisition, Wipro - Current Affairs Questions and Answers

ANSWER: Wipro

Explanation:
Software major Wipro on Tuesday offered a new IoT-based solution for wind parks and wind turbine manufacturers.

This leverages the Hewlett Packard Enterprise (HPE) Windpark Manager 4.0.

The solution manages wind turbines and associated IT infrastructure, including IT applications and security aspects to optimise operational expenditure.

It will also generate new revenue streams and future-proof a customer's business.

This solution will deliver higher outputs of usable energy while making a positive environmental and societal impact.

Solution's robust scalable architecture reduces the operating cost of wind parks and boosts the efficiency of wind turbine operations.

It also provides a real-time, executive dashboard that displays key business and IT-related information on wind park operations.

The Windpark Manager 4.0 provides a unique application of HPE Operations Bridge software capabilities through the simplification and automation of IT operations.

It also offers real-time visibility to help executives make decisions faster.

Wipro: Know More

• CEO: Abidali Neemuchwala (since 1 Feb 2016)
• Founder: M.H. Hasham Premji
• Headquarters: Bengaluru
• Revenue: 7.735 billion USD (2016)

ANSWER: Chief Learning Officer

Explanation:
As per sources, Bhaduri will start his own executive coaching company.

• Bhaduri is the man behind Wipro initiatives like the global 100 program
• He created the pipeline using unconventional training methods like taking the IT major’s employees have been in Wipro for 7 years
• Bhaduri has worked with Wipro since 2009 and prior to that worked with Microsoft as their HR director
• Bhaduri has also worked with Pepsico, Colgate and Mudra communication. He brought to Wipro global coaches such as Ram Charan and innovation heads like Bill Fisher
• He also tied up with Wharton to groom future leaders for Wipro

ANSWER: None of the above

Explanation:
NYSE listed technology firm Synnex Corporation has acquired Bengaluru based BPO firm Minacs for USD 420 million in a deal underlining consolidation in the business process management space.

• Buyout also showcases the efforts in the BPM sector to gravitate towards higher end services and capabilities like analytics
• PE firms CX Partners and Capital Square Partners which purchased Minaca from the Aditya Birla Group are exiting the firm.
• This acquisition is Synnex’s second biggest in India.
• In 2013, it had acquired BPO firm IBM Daksh for USD 505 million.

ANSWER: Forever 21

Explanation:
Kumar Mangalam Birla led Aditya Birla Fashion and Retail has acquired Indian business of international clothing brand “Forever 21” from Diana Retail Pvt Ltd, the US based company’s local franchise partner for over INR 175 crore or USD 26 million.

• Transaction involved acquisition of the Forever 21 Undertaking of Diana Retail from July 1 through business transfer agreement and not share transfer.
• Consideration for acquisition is USD 26 million
• Forever 21 will form part of the Madura Fashion & Lifestyle division
• Forever 21 is among the fastest growing fashion retailers in the world with a network of more than 700 stores worldwide.

ANSWER: Wipro

Explanation:
India’s third largest software services firm Wipro has invested a non disclosed amount in Israel based VC firm TLV Partners marking the first investment in the venture capital firm. This gives the outsourcing firm access to portfolio of early stage enterprises and security ventures in one of the most active startup ecosystems in the world.

• As per Wipro’s latest annual report, company invested in Tel Aviv based VC firm during 2015-2016
• According to the latest annual report, company has invested in the Tel Aviv based venture capital firm during 2015-2016
• TLV partners has a corpus of US $115 million and focuses on ventures in the cyber security, enterprise software and IoT according to CrunchBase.
• Wipro’s latest move underscores the enhanced importance of Israel enterprise software industry to India’s US $160 billion IT industry.
• In 2015, Israel automation tech firm Panaya was sold to Infosys for US $200 million
• StartUp Genome which ranks ecosystems across the world rated the city of Tel Aviv as the fifth best startup ecosystem in the world in 2015 coming after Silicon Valley, NYC, LA and Boston.

ANSWER: HelloTech

Explanation:
Los Angeles-based startup HelloTech and rival in-home tech support company Geekatoo said that they had merged, in a sign of consolidation in the hotly competitive on-demand sector.

• HelloTech will combine its network of about 150 college students who provide on-demand tech repair to Southern California consumers with Geekatoo's US network of about 5,000 technicians, the companies said in a joint statement.
• The merger connects HelloTech with Geekatoo's national market and provides Geekatoo with more access to venture capital funding, HelloTech co-founder Richard Wolpert said in an interview.
• HelloTech, which launched about a year ago, has raised $17 million from investors, while 5-year-old Geekatoo has raised close to $3 million.

ANSWER: Knowlarity Communications

Explanation:
Cloud telephony company Knowlarity Communications on May 9th 2016 acquired Delhi based Smartwards, a customer engagement platform that simplifies loyalty for local businesses and their consumers

• As per the statement, Shantanu Mathur and Dhanraj Singh Bisht- co founders of Smartwards will lead the Indian operations for Knowlarity
• Smartwards started operation in 2013

ANSWER: Volob Technologies

Explanation:
GirnarSoft, the parent company of auto classifieds portal CarDekho.com, has acquired virtual reality startup Volob Technologies in an all-cash deal, the company announced on May 3rd.

• This is the eight such transaction entered into by GirnarSoft, which has emerged as one of the most active players in the Indian startup M&A leaderboard over the past 18 months, and comes less than a week after it announced its acquisition of SaaS startup Connecto.
• Founded in 2010 by Tarun Kumar and Shweta Jain, Volob Technologies provides 3D visualisation solutions to various industries, primarily automotive, according to a company-issued statement.

ANSWER: Hitachi

Explanation:
The partnership is to provide joint services to global clients and the market. Part of the collaboration involves joint provision of value to clients by Hitachi and Virtusa through increase in operational and technology efficiency and enhancing functionality

• Hitachi provides IT solutions through combination of various products and services internationally.
• Both firms have been working together since 2015.

ANSWER: Magicbricks

Explanation:
Realty portal Magicbricks has acquired property analysis platform Properji for a non disclosed amount and plants to come up with reports for more than 10,000 projects in 6 metros which will help buyers in making the right decision. Magicbricks dot com has acquired Invact Technologies which runs the realty portal. This marks the first acquisition by Magicbricks dot com.