Company News

TATA’S EKA: The Asia’s Fastest Supercomputer

Tata Group’s supercomputer “EKA” literally means ‘one’ in Sanskrit. Eka has been ranked, as the 4th fastest supercomputer in the world, and the fastest supercomputer in Asia, in the Top500 Supercomputer list announced at an International Conference for High Performance Computing at Reno (California), USA

IBM's BlueGene/L has grabbed the first position with 478.2 Teraflops, while second position has gone to the IBM's newer version of BlueGene/L called BlueGene/P.

JSW Steel To Invest Rs. 700 Crore In TN

JSW Steel Limited’s unit, Southern Iron and Steel Company Limited (SISCOL) will acquire mining rights for two iron ore mines in Tamil Nadu, the company official stated today.

J K Tandon, Director of JSW Steel said, “the company plans to invest Rs 700 crore and start mining operations after two years.”

"We hope to get all clearances by the end of this fiscal," he added.

Last month, JSW outlined a plan to raise $300-500 million through a sponsored equity issue after merging Southern Iron and Steel with itself.

DLF To Buy Amanresorts For $ 250 Million

According to the reports, India's top real estate company DLF is close to acquiring Singapore-based luxury resorts and spa chain Amanresorts for around USD 250 million. This will be the first overseas acquisition by the Indian Real Estate Company.

Sources close to developments reported that at $250 million, the deal is being concluded at an extremely conservative valuation.

Last month, DLF had said that it had planed to raise USD 750 million overseas for acquiring and developing properties abroad.

Calsoft To Acquire International Innovations

California Software (Calsoft) has said that the company has signed a letter of intent (LoI) to acquire 100 % stake in the US- based International Innovations Inc. Innovations’ valuation will be $1.32 million (about Rs 5.3 crore).

Cheenai- based Calsoft provides software development services whereas the US- based technology consulting firm, International Innovations provides information management solutions through business intelligence tools, analytics, business rules management and enterprise search capabilities.

Aegis Communications Buys Tele Tech Services

Aegis Communications, Essar group’s BPO arm, announced today that it has signed an agreement to acquire TeleTech Services (India) Ltd for about $13 million.

The TeleTech Services is a 50:50 joint venture of TeleTech Europe BV and Bharti Ventures Ltd.

This is the seventh acquisition by Aegis in the last two years. Last Month, Aegis had acquired Canada’s Genesis Media, French sales promotion and direct marketing agency, Implicom.