Allied Digital Services said Intel Capital to invest in the company

Allied Digital Services Ltd, an IT services and solutions company, said it has signed an agreement with Intel Capital under which Intel Capital will invest in warrants to purchase Allied Digital equity shares. No financial details were provided.

The parties expect allotment of the warrants to take place later this year following receipt of regulatory approvals and satisfaction of other customary conditions.

"Allied Digital is one of the technology leaders in this space and this investment enables Intel Capital to further enhance the technology adoption worldwide, in the enterprise space", said Sudheer Kuppam, managing director, Intel Capital Asia Pacific.

Kevin Schatzle, President of Allied Digital LLC said, "The strategic investment in Allied Digital by Intel Capital validates our approach to remote infrastructure management and cloud based delivery of IT services, leveraging Intel technologies."

Intel Capital, Intel's global investment organisation, makes equity investments in innovative technology start-ups and companies worldwide.

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COMMENTS

Krishnan

6 years ago

Announcements and recommendations galore, but absolutely no performance on the price front. better to look at other companies in this space which are outperforming by miles

Omaxe unit wins contract worth Rs70.4 crore from GMADA

Realty firm Omaxe Ltd said its subsidiary won Rs70.4 crore infrastructure project from Greater Mohali Area Development Authority (GMADA) for highway and bridge construction.

Omaxe Infrastructure & Construction Ltd (OICL), the unit of Omaxe got its first contract to construct highway and three high-level bridges in Punjab from GMADA, the company said in a statement. The project is worth Rs70.4 crore, it added.

OICL will build an 8 km road in Mohali, Punjab along with three high-level bridges and culverts on the same road. The project is expected to be completed in 16 months.

Omaxe group had recently bagged orders from Director General Married Accommodation Project, Ministry of Defence and Air Force Naval Housing Board among others.

On Monday, Omaxe shares ended 1.7% up at Rs143 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.4% up at 20,117 points.

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TCS win contract to establish data centre for Karnataka government

IT service provider Tata Consultancy Services (TCS) said it won a contract to establish and manage a state data centre (SDC) for the Karnataka government. No financial details were provided.

TCS will assist the Karnataka government in establishing an efficient SDC. The new SDC would provide better operation and management control and minimise overall cost of data management, IT resource management, deployment and other costs, TCS said in a regulatory filing.

On Monday, TCS shares ended 0.5% down at Rs927 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.4% up at 20,117 points.

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