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Sterlite Technologies to Enhance Connectivity in Higher Education
Sterlite, a leading global provider of connectivity solutions for the power and telecom industries, announced that it has been chosen by Bharat Sanchar Nigam Limited (BSNL) to enhance its network for
promotion of Higher Education in India. The scope of the project includes establishment of world-class connectivity for 120 universities across the country. This infrastructure would act as an information backbone, enabling every university in the network to function as an Euniversity. This platform would facilitate high bandwidth data transmission that is essential for e-learning and video- based learning. Sterlite would connect 30 universities to this backbone during FY12, would connect the remaining 90 univer-
NIIT Tech acquires Spanish firm Proyecta Sistemas for $7m, stock gains 3%
NIIT Technologies acquired Spainish software services firm Proyecta Sistemas de Informacion SA for for USD 7 million. “We will end up paying 70% of the revenue (for acquisition) which is USD 7 million,” Arvind Thakur, CEO, NIIT Technologies, said. He said the company
had revenue of USD 10 million in last financial year and has EBIDTA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of 10%. “From today we will start consolidating revenue of Proyecta with NIIT Technologies,” Thakur added. The acquisition
enables NIIT Technologies to enhance its European footprint with Proyecta’s experience in travel and financial services segments. NIIT Technologies’ Europe, Middle East and Africa (EMEA) operations contribute 35% to its global revenues. Headquartered in Madrid, Proyecta, with over 100 consultants that industry players in business intelligence, web and mobility applications. Shares of NIIT Technologies closed at Rs 196.25 on 16 August – the date of the acquisition, up by 2.53% from previous close on the BSE.
Educomp and Sri Kanchi Kamalkoti Peetam announce tie up Educomp Solutions through its subsidiary Educomp Infrastructure & School Management has entered into a joint venture with Sri Kanchi Kamalkoti Peetam to set up a 100 strong chain of schools across the country.
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sities by FY14 and would manage the network for five years thereafter. Sterlite has streamlined its efforts to implement the network well within the required project schedule. This project is part of the ‘National Mission on Education through Information and Communication and Technology (ICT)’ undertaken by the Ministry of Human Resource Development (MHRD), Government of India. The Mission has been envisaged to leverage the potential of ICT, in teaching and learning process for the benefit of all the learners in Higher Education Institutions in any time anywhere mode.
Everonn Plans Rs 150 cr Capex Chennaibased VSAT education network company, Everonn Education Limited, has plans of investing close to Rs 150 crore in the present fiscal. Also, the company plans to venture overseas to include countries like Africa during the current fiscal year. P Kishore, MD, Everonn Education Ltd has said that the company would invest Rs 150 crore in iSchool and Instructional and Communication Technology (ICTs). The iSchool model is an initiative of the company which combines the orthodox system of learning with digitised content and tools to make learning interactive. The suggested investment will be funded mainly through debt, said Kishore. Till now, the company has been working with close to 16 states to enable ICT based education on government run schools. Kishore highlighted that out of the Rs 301.62 crore revenue of the company during year-ended March 31, 2011, 22 per cent were contributed by government projects. The company has set a target to increase its topline by 50 per cent during the present fiscal, he added. The company has reported a 43 per cent rise in its revenues in 2010-11.