Software major Oracle Corp has completed the takeover of hardware company Sun Microsystems Inc for $7.4 billion. The deal, which was announced nine months ago, would transform the IT industry, Oracle said. The two companies, which have a significant presence in India, together employs more than 26,000 people in the country. Oracle has more than 25,000 employees in India while Sun Microsystem has 1,200 people. The Sun Solaris operating system is the leading platform for the Oracle database, Oracle's largest business.
Nokia profit soars 65%
Finnish handset maker Nokia Corp on Thursday reported a 65% jump in net profit at 948 million euros for the period ending December 31, 2009, despite a slump in sales figures. In the year-ago period, the company had a net profit of $576 million, Nokia said in a statement.
Aptech buys Maya
Aptech said it has acquired production and distribution advisory company Maya Entertainment for Rs 76 crore. Maya Entertainment is the parent company of Maya Academy of Advanced Cinematics (MAAC), a premium brand in the animation and multimedia education space with over 70 centres across the country.
Aqua Logistic IPO till Feb 2
The Rs 150-crore initial public offer (IPO) of Aqua Logistics Ltd has been extended till February 2, after failing to receive enough response from the market. The issue received total bids for 44.63 lakh shares against the issue size of 68.18 lakh shares in the price range of Rs 220-230 per equity share. In view of the adverse market conditions, the price band for the issue has been revised in the range of Rs 200-225.
DB Realty fixes price band
DB Realty said it plans to raise as much as Rs 1,500 crore through an initial public offer (IPO) and will sell each share at a minimum of Rs 468 and a maximum of Rs 486. The real estate player said it will invite bids between January 29 and February 2. Each equity share has a face value of Rs 10.
Wipros eco-friendly PCs
Wipro Infotech, leading provider of IT and business transformation services, unveiled its new 'eco-friendly' desktop, manufactured with materials free of harmful chemicals like polyvinyl chloride and brominated flame retardants. Based on the Intel Core 2 Duo processor, Wipro Greenware range of desktops are free from carcinogenic materials such as PVC and BFRs.
RIM launches 3G handset
Canada-based Research In Motion (RIM) launched its 3G-enabled BlackBerry smartphone in the country, priced at Rs 31,990. The smartphone is expected to be available nationally through large format retail stores as well as operators including Airtel, Aircel, BSNL, Idea Cellular, Loop Mobile, MTNL, Reliance, Tata Teleservices and Vodafone from Thursday.
Polaris insurance product
Polaris Software lab launched IT product for Indian insurance market especially the health insurance segment, says a release. Intellect claims is built using SOA components and ACORD standards that addresses the standardization of claim data exchange among the TPAs, providers and insurers.
Morgan Stanley chief quits
Morgan Stanley on Thursday said its chief executive and country head for India Narayan Ramachandran will step down next month. In a release, the company said Ramachandran has decided to resign from the full time charge to pursue personal interests in entrepreneurship and public service.
Daimlers India trucks by 2012
German auto major Daimler AG is developing a truck especially for the Indian market that will hit the roads by 2012, a top official of its group company in India said. The firm, which was involved in an aborted joint venture with the Hero Group for foraying into the Indian commercial vehicles market, is currently developing a facility at Chennai on its own to manufacture the truck.
Discovery channel launch
Discovery Networks Asia-Pacific, a division of media firm Discovery Communications, launched two new 24-hour channels in the country. The non-fiction channelsDiscovery Science and Discovery Turbowill initially air on the Tata Sky's DTH platform.