Computer services firm Mahindra Satyam is joining hands with Japan’s SBI Holdings Inc to launch a $50 million (Rs 250 crore) fund to invest in information, communications and technology companies globally, the company has disclosed in a statement to the Bombay Stock Exchange today. Both partners w Continue...

Cloud computing firm nivio, which allows subscribers to rent software applications from companies like Microsoft and Adobe, has secured $21 million (Rs 104 crore) from the Videocon Group and AEC Partners, a US-based private equity firm specialising in technology investments, the company has said in  Continue...

Tulip Telecom Ltd, an enterprise data services provider which is backed by Singapore’s sovereign wealth fund, has raised Rs 250 crore($51 million) through mezzanine funding from an unnamed financial institution, the company said on Wednesday. The money will part fund the Rs 900 crore investment st Continue...

Pune-based Persistent Systems Ltd has acquired the ‘Location’ business of California’s mobile Internet software solutions company Openwave Systems, Inc., for an undisclosed sum, the company has disclosed in a statement. Although details of this ‘Location’ business and the number of peo Continue...

Seedfund, an early-stage venture capital fund with operations in Mumbai, Bangalore and New Delhi, has invested an undisclosed sum to acquire a significant minority stake in HandsPick.com, a fashion apparel and accessories e-commerce brand owned by Delhi-based start-up Intuitent Online Venture Pvt Lt Continue...

Silicon Valley-based venture capital firm Canaan Partners has raised a $600 million (Rs 3,198 crore) fund Canaan IX to invest in technology and healthcare companies, the company has disclosed in a statement today. Two-third of the newly raised fund will be used to fund digital media, Internet, mobil Continue...

Content production house Balaji Telefilms Ltd has inked a deal to sell its media education and mobile content business to an undisclosed buyer for Rs 8.37 crore, the company has said in a statement to the Bombay Stock Exchange. Balaji had announced its intent to sell the New Media and training divi Continue...

It’s been one year for online grocery retailing site MyGrahak.com and the site is already aiming big numbers in revenue by 2015 and claims to have hit a decent traction despite competition from Aaramshop and new players such as Zopnow. Here’s a look at some quick stats that the company has discl Continue...

Homegrown mobile handset company Micromax Informatics Ltd has made major top management changes by appointing Deepak Mehrotra as the new chief executive officer besides hiring other senior people from Sony Ericson and HTC to lead its smartphone and feature phone business units. Till date, privately  Continue...

Mumbai and Silicon Valley-based database infrastructure software maker ScaleArc has secured $5.33 million in its second round of institutional funding, led by Trinity Ventures. Existing investor Nexus Venture Partners also took part in the round. The proceeds will be used to scale up operations in t Continue...