TelecomLive January-2019

www.telecomlive.com [ News Bytes ] 58 Telecom LIVE January 2019 poor diet and substance abuse contribute to the rest. Employees in the age group of 30-40 years account for most of the productivity loss at 42 pc. However, employees in the age group of 30-40 years constitute 35 pc of the workforce in the IT sector in Bengaluru, while employees in the age group of 20-30 years constitute 50 pc of the workforce and contribute to 30 pc of total cost due to productivity loss. Also, employees in the age group of 30-40 years of age have higher share of loss due to physical health and employees in the age group of 20-30 years have a higher share of loss due to poor diet. Byju's raises $300 mn in fresh funding from Naspers, Canada Pension Fund Think & Learn, which runs India's largest online tutoring platform Byju's, has raised $300 mn in fresh funding from South African Internet giant Naspers and CPP Investment Board Private Holdings (CPPIB), a Canadianpension fund. The investment follows a $100 mn infusion by General Atlantic, a New York-based private equity fund, in Sep 2018, bringing the total funds raised in the current round to $400mn. The latest round values the seven-year-old company at $3.6 bn. Naspers, through is vehicle Naspers Ventures BV, acquired 159,352 shares in Think &Learn for $172mn, while CPPIB subscribed to 113,823 shares for $124mn. These are compulsorily convertible preference shares with preferential dividend rate 0.001 pc. HCL to acquire select IBM products for $1.8 bn HCL Technologies has announced that it is acquir- ing select IBM software products for $1.8 bn. The acquisitionwhich is the largest in the history of HCL, is expected to close bymid-2019. The products which represent a total addressable market of more than $50 bn include Appscan for secure application development, BigFix for secure device management, Unica for marketing automation, Commerce for omni-channel eCommerce, Portal for digital experience, Notes & Domino for email and low- for machine learning and engineering roles across mid and senior levels. In Jun 2018, Swiggy had raised $210 mn in funding led by Naspers and DST Global. Since then, the company has expanded to 42 addi- tional cities and doubled its gross merchandise value. It has close to 120,000 active delivery partners on its platform. IT capital of country lost $3.5 bn due to poor health of employees, says study A survey conducted among more than 500 IT employees in Bengaluru across 10 leading tech companies by research a n d a d v i s o r y f i r m Re d s e e r Co n s u l t i n g showed that productivity loss caused by health and lifestyle habits of employ- ees amounted to $3.5 bn, which is 7 pc of the total revenue of the sector ($50 bn). The cost to the IT sector due to productivity loss has been attributed to five key risk factors - p h y s i c a l i n a c t i v i t y , emo t i ona l & men t a l health, physical health, poor diet and substance abuse. Physical inactivity and emotional & mental health account for 50 pc of the productivity loss while physical health, code rapid application d e v e l o p m e n t a n d C o n n e c t i o n s f o r workstream collabora- tion. HCL and IBM have an ongoing IP Partnership for five of these products. UPI transactions cross 500 mn in Nov 2018 Monthly transactions t hr ough t he Un i f i ed Payments Interface (UPI) crossed the 500 mn mark for the first time in Nov 2018, data released by NPCI showed. Under the UPI, 524.94 mn transac- tions amounting to Rs 82,232 cr were carried out during the month, a 9 pc increase in transaction volume, compared with 482.36 mn transactions worth Rs 74,978 cr in Oct 2018. Ericsson sets up new AI lab in Bengaluru; to hire 150 engineers in 2019 Ericsson has set up a Global Artificial Intelli- gence Accelerator (GAIA) in Bengaluru to focus on R&D in Artificial Intelli- gence (AI) and Automa- tion. The new innovation hub will help create 150 new jobs for data scien- tists, engineers, ML/AI architects and software developers in 2019. Ericsson already has Global Artificial Intelli-