Wipro expands partnership with Intel Foundry; TCS with The Co-operative Group

Wipro expands partnership with Intel Foundry

Wipro has expanded its collaboration with Intel Foundry to accelerate chip design innovation. As the key design services and alliance partner, Wipro will work with Intel Foundry to accelerate the development of Intel’s most advanced process nodes, including the Intel18A process node.

The collaboration between Wipro and Intel Foundry is designed to address the rising demand for AI chip manufacturing as companies race to roll out generative AI-enabled products.

A statement said that Wipro's design services strength paired with Intel Foundry’s manufacturing prowess will enable clients, especially across heavy industries, such as automotive, industrial, and telecommunications sectors to leverage Gen AI-driven designs and foundry services to drive ongoing innovation.

TCS expands partnership with The Co-operative Group of the UK

Tata Consultancy Services (TCS) has expanded its partnership with the UK-based The Co-operative Group Limited (Co-op) to adopt a cloud-first strategy that will support the group’s business growth.

The expanded partnership will see TCS help Co-op move from a traditional data centre model to a fully managed, scalable cloud environment powered by TCS Enterprise Cloud. This migration to a scalable cloud will help Co-op by enabling a foundation for future capabilities and growth while reducing energy usage and supporting sustainability goals. TCS will also manage the hybrid cloud and SaaS estate for enhanced resilience and agility.

TCS has been a partner of Co-op for the past 14 years, supporting several business and workplace transformations, including its retail business transformation, core system transformation, and franchise programme.

LTIMindtree signs MoU with Eurolife FFH to set up Gen AI lab in Athens

IT services company LTIMindtree signed a Memorandum of Understanding (MoU) with Eurolife FFH, an Athens, Greece, based insurance company powered by Fairfax Digital Services, to establish a Gen Al and Digital Hub in Athens.

As a part of this association, Eurolife FFH will set up Gen Al and Digital Hub in Athens to develop solutions for insurance businesses in Greece, and LTIMindtree will provide domain expertise and support from its dedicated facilities in Poland and Mumbai.

Professionals from both companies will jointly undergo specialised training in Gen Al and Digital Transformation to develop cutting-edge products and services to enhance customer experience and operational efficiency for businesses across insurance, banking, shipping, and manufacturing industries.

Orient Technologies files DRHP for IPO

Mumbai-based IT solutions provider Orient Technologies filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) to raise funds for its initial public offering (IPO).

The IPO has a face value of Rs 10 and consists of a fresh issue of Rs 120 crore and an offer for sale of up to 4.6 million equity shares by the promoter-selling shareholders.

The proceeds from the fresh issue, to the extent of Rs 79.65 crore, will be used for funding its capital expenditure requirements; Rs 10.35 crore for the acquisition of office premises in Navi Mumbai; and general corporate purposes.

For FY23, the company’s revenue from operations increased to Rs 535.10 crore from Rs 467.44 crore in FY22. The profit after tax increased 14.35% from Rs 33.49 crore in FY22 to Rs 38.30 crore in FY23.

UST acquires Australian technology company

Digital technology company UST acquired Australia-based Leonardo, a process improvement technology company, for an undisclosed value. This deal will allow UST to strengthen its position in the Australian market while Leonardo will be able to expand its offerings for its clients.

UST has been present in the Australian market for the last eight years. A statement noted that the acquisition amplifies Leonardo’s existing expertise in business process improvement, automation, and integration and bolsters UST’s strategic alliances with key regional technology partners.