Company Updates

OnMobile Global signs deal with Vodafone Group

OnMobile Global signs deal with Vodafone GroupOnMobile Global Ltd and Vodafone Group have entered into an agreement to deploy OnMobile's Ringback Tones, Voice Portal and Speech-enabled Value Added Services to the Vodafone Group emerging markets operating companies.

The agreement enables Vodafone operators and Partner Networks across the world to rapidly deploy OnMobile's products which have achieved remarkable success for Vodafone in the fast growing Indian VAS market

Oracle all set to acquire Sun Microsystems for $7.4 billion

Oracle all set to acquire Sun Microsystems for $7.4 billion US-based software major, Oracle Corporation, on Monday agreed to acquire Nasdaq-listed Sun Microsystems Inc for $7.4 billion at $9.50 per share in an all-cash transaction.

It should be noted that the deal just comes after a week, when IBM's (International Business Machines) plan to buy the maker of Java software fell apart.

Reliance Power ties up Rs 14,500 crore for Sasan Ultra Mega Power Project

Reliance Power ties up Rs 14,500 crore for Sasan Ultra Mega Power Project With the help of finances arranged from more than a dozen domestic banks and financial institutions, the Anil Ambani-led Reliance Power Tuesday announced a tie-up of Rs 14,500 crore funds for its Madhya Pradesh-based, Rs 19,400 crore, 3,960 MW Sasan Ultra Mega Power Project.

As per the company officials, the tie-up comprises the biggest-ever debt that has been raised from domestic banks and institutions, for any project among any industry in the country.

Smartdata enterprises, the offshore software outsourcing company

Smartdata enterprises, the offshore software outsourcing companyMohali, April 20: Smartdata enterprises, an offshore software outsourcing company, has expertise in web and software applications development in the ever-growing software development offshore outsourcing global market.

In 1996, SmartData Enterprises Incorporation, a consulting company was formed in Silicon Valley, California.

It was three years later in 1999, the company saw the vast potential in the IT sector in India and set up SmartData Enterprises (India) Ltd, a database company with four members.

Bajaj Finserv, Alliance Global enter into Indian asset management joint venture

Bajaj Finserv, Alliance Global With Bajaj already has life insurance and general insurance business tie-ups with Allianz since eight years, the Rahul Bajaj-owned Bajaj Finserv lately entered into a shareholders' deal with Allianz Global Investors, which is venturing into the asset management arena in India.

The Munich, Germany-based insurer will hold a majority stake of 51 percent in the asset management joint venture.

GVK Power to divest 49% stake in its Road & Power Ventures

GVK Power and Infrastructure Ltd (GVKPIL)GVK Power and Infrastructure Ltd (GVKPIL), which provides generation, operation, and maintenance services to power plants in country is presently looking to divest stake in its roads and power ventures.

Latest reports suggest that the company is presently in talks with at least five players for divesting up to 49 per cent stake in these two segments. However, the company said that it would retain a majority stake of at least 51 per cent in these segments.

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