TelecomLive April 2024

www.telecomlive.com [ News Bytes ] 75 TelecomLIVE April 2024 Mohan had rep l aced Mrinal Mohit as India CEOof the company. In September 2023, Byju's decided to lay off around 4,000 employees as part of a restructuring exercise. Earlier 2023, the company had laid off about 1,000 employees and in 2022, some 2,500 workers. Cisco completes $28 bn acquisition of cybersecurity firm Splunk Cisco has completed the $28 bn acquisition of c y b e r s e c u r i t y f i r m Splunk to strengthen its capabilities in multiple areas, such as network- ing, AI and observability. Under the terms of the agreement, Cisco paid Splunk $157 per share in c a s h , r e p r e s e n t i n g approximately $28 bn in equity value. Cisco and Sp l unk w i l l p r o v i de customers with enhanced security, observability, n e t wo r k i n g , A I a nd economics. NIIF-backed Digital Edge to invest Rs 1,400 cr in Navi Mumbai data centre D i g i t a l E d g e D C (India) Pvt Ltd, backed by the National Investment and Infrastructure Fund (NIIF), will invest about Rs 1,400 cr in setting up a d a t a c e n t r e i n Na v i Mumbai, with a capacity of 15 MW in the first phase of the project. The company plans to add around 40 MW in the following 12 months and scale it up over 300Mw in the next seven to eight y e a r s o v e r mu l t i p l e phases. The project will have a debt-to-equity ratio of Located in the Ambattur i ndu s t r i a l a r e a , t h e campus will include two data center buildings with a combined built-up area of almost 1 mn sq ft and a 72 MW IT load capacity. The first data center building (Chennai DC 1) is fully booked and will begin operations in the second quarter of 2024. The second data center building (Chennai DC 2) is slated to be launched in the second half of 2024 and is presently accepting bookings. Chennai DC 2 is a ground plus 10-floor structure, with an IT load of 27MW. Byju's shuts all regional offices, asks 15,000 employees to work from home Cash-strapped edtech company Byju's has given up all its regional sales o f f i ces ac ros s Indi a , keeping only its head- quarters at IBC, Knowl- edge Park, Bengaluru. The offices which have been given up could be we l l over 20 cut t ing across Delhi, Gurugram, M u m b a i , P u n e , Hyderabad, Chennai and more. With that, the com- pany has told a l l i t s employees, 15,000 of them, to work from home indefinitely. The staff working at about 300 Byju's Tuition Centres across the country would, however, continue going to office. Byju's and its investors are caught in a dispute being fought at the NCLT o v e r t h e c omp a n y ' s $200-mn rights issue in a petition alleging oppres- sion and mismanage- ment. In 2023, Arjun 62:38. The term loan component will be about Rs 850 cr for the first phase and the rest will come fromequity. SBI is the lender to the project. ICRA Rating has assigned an “A-” rating to the term loan facilities. Around Rs 165 cr of equity has been infused for the first phase, which is likely to start operations in FY26. It has factored in the strong promoter profile, with a track record of developing and managing large infrastructure and data centre projects. NIIF will have a 45 pc holding in the data centre. Among other sponsors are entities supported by Stonepeak, a global alternative investment firm specialising in infrastructure and real estate assets with$61 bn of assets undermanagement (AUM). Amazon exports from India crossed $8 bn in 2023 Amazon has surpassed $8 bn in cumulative exports from India in 2023 and is set to achieve its ambitious target of $20 bn in exports by 2025. The company had achieved$5 bnworth of exports in 2022. This comes shortly after American retail major Walmart said that it surpassed $30 bn in cumulative sourcing from India in over two decades. It is now targeting $10bn in annual sourcing by 2027. Amazon's highest-growing export categories include toys, home and kitchen products and beauty products and furniture and luggage. Other products