IT sector Current Affairs - 2020

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President dedicates India’s first IT co-operative UL Cyber Park in Kozhikode

President Pranab Mukherjee dedicated India’s first co-operative society in Information Technology (IT) sector UL CyberPark in Kozhikode, Kerala.

The IT Park has been set up by a labour cooperative society, Uralungal Labour Contract Cooperative Society (ULCCS).

It is built on 25 acre land in Nellikode in Kozhikode district at the cost of Rs. 270 crore. It is expected to provide direct employment to 4,500 persons in the first phase. It will export IT solutions and products to US and Europe and is eyeing a turnover of Rs 500 crore in the next five years.

About Uralungal Labour Contract Cooperative Society (ULCCS)

  • ULCCS cooperative was launched in 1925 in Vadakara in Kozhikode district by 14 members with an initial investment of 37 paise.
  • It has set Technopark-based UL Technology Solutions (ULTS) in 2012. It provides IT solutions in the domain areas of Global Information Systems, Health Care, Enterprise Resource Planning, Business Intelligence and Analytic etc.
  • Kerala State Government has declared ULCCS as an “Accredited Agency” to undertake works directly without tender procedure.

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Wipro buys HealthPlan Services

India’s third largest IT exporter Wipro Limited has acquired US based healthcare technology firm HealthPlan Services for US 460 million dollars.

This acquisition was part of the Wipro’s traditional “string of pearls” acquisition strategy and it shall help company to strengthen its position in the US health insurance market.

It will help Wipro to participate in the shift of the US health insurance industry towards a customer-centric business model as it has currently has a US 800 million dollars healthcare and life sciences business.

This is Wipro’s overall 4th acquisition in the in calendar year 2015 after it had bought Denmark-based Designit, German IT consulting firm Cellent AG and US-based Viteos Group.

HealthPlan Services: It is a leading independent technology and Business Process as a Service (BPaaS) provider in the US health insurance market that offers solutions to health insurance firms. The company was founded in 1970 and currently generates annual revenue of 223 million dollars and employs over 2,000 associates.

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