Technology firm Current Affairs - 2019

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Nokia announces to buy Alcatel- Lucent

Finnish telecom network equipment maker Nokia on 16 April 2015 announced acquisition of French telecom network firm Alcatel- Lucent.

This merger will create the world’s largest supplier of telecom equipment’s that powers mobilephone networks by surpassing Ericsson and Huawei.

As part of the deal,

  • The merged entity will be called Nokia and current Nokia Chairman Risto Siilasmaa will chair it.
  • Nokia will buy Alcatel- Lucent in an all-stock deal valued at 15.6 billion euros ($16.6 billion).
  • Nokia is going to give Alcatel-Lucent shareholders 0.55 shares in the merged company for each of their old shares.
  • In the combined entity Nokia shareholders will own 66.5 per cent shares of the company and Alcatel- Lucent shareholders will own 33.5 per cent shares.

The deal is likely to be completed in the first half of 2016. The combined company will have a total workforce of about 1.14 lakh employees.

Month: Categories: Business, Economy & Banking

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Pankaj More appointed as Technology Head of Walmart India

Pankaj More on 15 April 2015 was appointed as Technology Head of Wal-Mart India Private Limited.

In his new role, he will play a key role in strengthening company’s technology and Information Technology (IT) infrastructure and will report directly to Walmart India President and CEO Krish Iyer.

Pankaj has over 19 years of experience and had had joined WalMart in January 2013. He was leading the ISD strategy for the Walmart Asia market including Japan, China & India.

He holds B.Tech degree in Computer Engineering from Mangalore University.

About Wal-Mart India Private Limited

  • It is a wholly owned subsidiary of Walmart Stores Inc, the world’s leading multinational retail corporation.
  • At present it owns and operates 20 Best Price Modern Wholesale stores in 9 States across India.
  • The first store was opened in Amritsar, Punjab in May 2009.
  • Incumbent CEO: Krish Iyer.

Month: Categories: Business, Economy & Banking

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