L&T Infotech to Acquire Digital Engineering Firm Cuelogic
In a $8.4 million-deal, L&T Infotech has signed a definitive agreement to acquire Cuelogic Technologies, a digital engineering and outsourced product development company headquartered in Pune.
Founded in 2010, Cuelogic has built capabilities in digital engineering, and primarily focuses on developing cloud native web and mobile applications, modernization, and runs innovation lab as a service for its clients in the USA and India.
Cuelogic works with enterprise clients on multiple facets of digitalization such as UX Consulting, DevOps, AI Consulting, IoT, Applications Modernization, and Cloud Architecture & Integration.
This is the seventh acquisition by LTI since the company got listed in 2016.
RBI Likely to Focus on Growth even as Inflation Breaches Estimates
The Reserve Bank of India is unlikely to react yet to multiple-month high retail prices as the economic recovery remains its prime focus amid the deadly second wave of the pandemic, according to two senior sources aware of the central bank’s thinking.
The annual retail inflation rate rose 6.30 percent year-on-year in May, up from 4.29 percent in April and sharply above analysts’ estimate of 5.30 percent. The wholesale price inflation rate rose 12.94 percent, its highest in at least two decades.
The central bank earlier this month reiterated its commitment to keeping monetary policy accommodative as long as necessary to revive and sustain growth on a durable basis.
At its last policy review, the RBI warned that high energy prices could stoke inflation. It also cut its GDP growth forecast to 9.5 percent from 10.5 percent for the current fiscal year.
Microsoft Launches First Asia Pacific Public Sector Cyber Security Executive Council
Microsoft has launched the first Asia Pacific Public Sector Cyber Security Executive Council across seven markets in the region. It brings together a coalition of policy makers from government and state agencies, as well as technology and industry leaders, with the aim of building a strong communications channel for addressing cyber threats and sharing best practices across the participating countries.
Joining the council are 15 policy makers from Brunei, Indonesia, Korea, Malaysia, Philippines, Singapore, and Thailand, supported by cybersecurity professionals from Microsoft. The initiative marks a significant commitment towards accelerating public-private partnerships in cybersecurity, while promoting a broader sharing of threat intelligence to be better positioned to respond in the event of attacks. At the forefront of the council’s vision is the drive to build a community where threat intelligence, technology, and resources can be shared in a timely and open manner. The council is set to meet virtually on a quarterly basis to maintain a continuous exchange of information on cyber threats and cybersecurity solutions.
