Page 48 - IACC Newsletter August-September 2013 Issue 13

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"With education being high on the public agenda, and with students, professors and the society calling out for new ideas
and solutions for better and new skills, the agreement between IBM and these leading universities in India, recognises
the increasing relevance of smarter computing as an approach to IT," Tobby Kakkamthottil, midmarket and inside sales
leader, IBM India/South Asia said in a statement. "IBM's smarter computing approach enables organisations of any size -
from mid-market clients to large enterprises, leading universities or the state administration - to optimize their business
processes and gain competitive advantage, spurring growth," he added.
Commenting on the collaboration, Professor Sunil Kumar from IIT Madras stated: "If universities are to produce highly
qualified students in the various branches of science, they need to focus on integrating science education and research
with advanced information technologies. They need to consider adding supercomputing capacity."
Copyright © 2013, Bennett, Coleman & Co. Ltd. All Rights Reserved.
New York based Thomson Reuters to buy majority stake in Omnesys
International news agency Thomson Reuters is buying a majority stake in Bangalore-based software service provider for
securities and currency trades, Omnesys Technologies, for an undisclosed amount.
"Thomson Reuters can confirm that it has signed a definitive agreement to acquire Omnesys Technologies," a
spokesperson said in an email. "A full announcement will be made once the transaction is complete."
Shrikant Pandit, founder and managing director of Omnesys, refused to accept or deny the development, saying, "I will
not comment on market rumours." he holds over 60% stake in the company.
Dotex, a wholly-owned subsidiary of the National Stock Exchange, holds 26% stake in Omnesys, while Intel Capital, the
investment arm of Intel Corporation, holds 12%. Omnesys, which supplies software for securities and currency trading
on NSE and other exchanges, also provides order management systems for trading platforms and services to more than
200 financial institutions.
The present management of Omnesys will continue to run the company with non-promoter shareholders maintaining
their stake, said a person with knowledge of the deal. Omnesys could be valued at 15-20 times its annual profit. Data
from the Registrar of Companies shows that Omnesys is a debt-free company but it does not mention the company's
financial figures.
Dotex had bought Omnesys shares in June 2008, two months before NSE launched currency trading. NSE's then deputy
managing director Chitra Ramakrishna was nominated on the Omnesys board.
Omnesys competes with Jignesh Shah-promoted Financial Technologies in certain segments of exchange solutions
business and is an empanelled vendor with NSE, the BSE and the MCX-Stock Exchange.
Thomson Reuters provides a basket of products under the head of Financial Trading Platform, which offers clients and
brokers both front and back-end technology solutions.
Copyright © 2013, Bennett, Coleman & Co. Ltd. All Rights Reserved.
Bobbi Brown targeting $5 million turnover from India in 3 years
Bobbi Brown, an Estee Lauder cosmetics brand, which made a quite entry in the Indian market with launch of a store in
the city in July this year, is targeting turnover of USD 5 million in the next three years from India.