Current Affairs Business

  Microsoft has acquired data privacy, governance service firm BlueTalon. BlueTalon helps enterprises set policies for how their employees can access their data. BlueTalon works with leading Fortune 100 companies to eliminate data security blind spots and gain visibility and control of data.
Source: The Times Now

  Apple has announced the acquisition of chip-maker Intel”s smartphone modem business for $1 billion. This agreement enables to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology. Intel had been working on a chipset for the iPhone maker, with the chip expected to be part of iPhones by 2020.
Source: The DD News

 The Digital Communications Commission (DCC) approved the cumulative penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea. The penalty was imposed byTelecom Regulatory Authority of India (TRAI) for not providing points of interconnection to Reliance Jio when it entered the market.
Source: The Hindu

  International Business Machines Corp acquired a software company Red Hat Inc in $34 billion for ramp up its cloud computing business. This is company’s biggest acquisition in its more than 100-year.
Source: The Times of India

 The Institute of Company Secretaries of India has rolled out an initiative a Unique Document Identification Number to pursue heightened sense of self-governance and strengthen the practising side of company secretaries. UDIN will provide ease of maintaining register of attestation and certification services. The ICSI functions under the Ministry of Corporate Affairs.
Source: The Economics Times

  Walmart Labs has acqui-hired health tech startup FloCare and B2B wholesale trading platform BigTrade. The aim of acqui-hiring is to strengthen its customer service. As per the process, some founders and team members of the two companies will join Walmart Labs in the customer and supply chain technology teams. Acqui-hires are typically made for the skills of the team, rather than for the product.
Source: The Live Mint

 Online grocery delivery platform Milkbasket has acquired Bengaluru-based e-grocery distributor PSR Supply Chain. Founded in early 2015, Milkbasket has built a new-age technology platform to enable a smooth grocery buying experience online.
Source: The Live Mint

  India’s biggest ride-hailing platform Ola Cabs, has received approval from London’stransport regulator to start private hire vehicles (PHV) in the capital city of the UK. Ola will be the first ever platform to offer both PHVs and black cabs in the UK.
Source: The Live Mint

 Japanese company SoftBank has invested around $250 million in Ola Electric Mobility. With this investment, Ola Electric has become the newest unicorn of India, joining the list of companies like Flipkart, Zomato and Paytm.
Source: The Business Today

  According to Department for Promotion of Industry and Internal Trade, Fund of Funds for Startups have provided financial support to 249 startups in last 3 years. The DPIIT is the monitoring agency and Small Industries Development Bank of India is the operating agency for FFS. FFS contributes to the corpus of SEBI registered Alternative Investment Funds (AIFs).These AIFs in turn have to invest at least twice the contribution under FFS in startups.
Source: The Business Standard

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