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Corporate News | Ericsson buys minority stake in Indian cloud computing firm

Corporate News | Ericsson buys minority stake in Indian cloud computing firm
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First Published: Mon, Aug 30 2010. 10 11 PM IST
Updated: Mon, Aug 30 2010. 10 11 PM IST
Bangalore: Swedish telecom equipment maker Ericsson has picked up a minority stake in Novatium Solutions Pvt. Ltd, a Chennai-based cloud computing firm founded by entrepreneur Rajesh Jain, for an undisclosed sum.
Novatium, which has around 40,000 subscribers, said in a statement on Monday the deal will help it gain access to a global market as well as expertise in telecom infrastructure.
Jain, counted among India’s first-generation Internet entrepreneurs, previously sold Indiaworld.com, a network of portals, to Satyam Infoway during the dotcom boom in 2000.
Staff Writer
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RCom plans 3G innovation lab; appoints Gokarn as Head-3G Biz
New Delhi: Private telecom services provider Reliance Communications (RCom) on Monday said it has appointed Prashant Gokarn to head its business operations for its 3G, or third generation, wireless data services. As part of its 3G readiness plan, RCom has established a fully-integrated 3G Innovation Lab with end-to-end wireless network infrastructure.
Prashant will report to Syed Safawi, president and chief executive officer (wireless business). Gokarn will also be a member of RCom’s wireless management board, the company said in a statement.
RCom has also hired Google’s former head of wireless business Suresh Jayaraju as head of its New Age value added services.
The Innovation Lab will provide world class infrastructure capabilities and the 3G Innovation Lab platform to various partners to jointly develop applications for consumers.
Lison Joseph
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First Published: Mon, Aug 30 2010. 10 11 PM IST