Bharti Airtel to buy Tikona's 4G business for $244 million
Telecommunications company Bharti Airtel said it would buy internet services provider Tikona Digital Networks' 4G business in a deal worth 16 billion rupees ($244.20 million).
Reuters Market Eye - Shares in MphasiS Ltd (MBFL.NS) rose as much as 6.1 percent after the company, a unit of Hewlett-Packard Co (HPQ.N), agreed to buy U.S.-based Digital Risk LLC, a mortgage management specialist, for $175 million.
MphasiS said in a statement that Digital Risk is expected to register revenues of $127 million in CY2012.
The company has maintained that it would be looking at acquisitions to utilize the huge cash and cash equivalents of 23 billion rupees on the books.
Shares up 4.24 percent at 404.60 rupees.
WASHINGTON Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the U.S. Securities and Exchange Commission, on Thursday defended himself against Democrats' charges that multiple conflicts of interest would force him to miss too many SEC votes.
BOAO, China India's top software services exporter Tata Consultancy Services will step up local hiring in the United States and has no plans to cut investments there as it continues to expect robust growth from its biggest overseas market.