Daily Briefing: Top 5 tech news you need to know today

Good Morning! The pandemic has been hard on the economy of the country. Yet, businesses are striving to be on top of their industry. Thus, they are forming strategic alliances, finding investments, restructuring the enterprise. In this wake, here is a list of the top tech news you need to know to stay on the top of the affairs!

1. Reliance Jio and Saudi Arabia's PIF Deal

The highlight of day's news is the Reliance Jio and Saudi Arabia's PIF Deal. With this investment, Reliance has totalled an investment of ₹115,694 crores. It has diluted almost 25% of its share value. CIOL had initially reported that Reliance was looking to go debt-free by diluting 25% of its share. Thus, this investment could probably be the last one in line.

Further, we can easily say that all the companies that have invested in Jio are tech-backing firms. So, this new investment mirrors the endorsement of Jio’s tech capabilities. It has a disruptive business model and secular long-term growth potential. Jio’s continuing attraction among global investors for being the best represents India’s digital potential.

2. Bharti Airtel invests in Lattu Media

Bharti Airtel, Jio's firm competitor is not very far behind. In a recent development, the telecom giant has invested an undisclosed amount in Ed-Tech Lattu Media. One of the four start-ups, Lattu Media bagged this investment under Airtel's startup support programme.

Due to this pandemic, schools are closed and thus, people are opting for digital schooling. Also, Airtel has 160 million monthly active users across its digital platforms. So, it will add the Edtech platform to its premium digital content portfolio. This will further help people to adopt the ever-increasing mode of virtual classrooms and digital learning/homeschooling.

3. Microsoft Developer Conference empowers developers on Day 1 to help the economy grow

Day 1 of the Conference was held on June 18. This conference underlined the critical role of developers in innovations that will power the economic recovery. The key speakers of the event were Mark Russinovich, Chief Technology Officer, Azure; Brendan Burns, Corporate Vice President, Azure Control Plane, Open Source and Cloud-Native Compute, Microsoft; and prominent analyst Janakiram MSV.

Further, the event aimed to build developer-expert connections to realize how everyone can invent with purpose and build innovative solutions on Azure. Also, the main theme of the event was for developers, since they are the backbone of digital progress. They provide immediate impact and value in fast-tracking the rebounding and rebuilding of enterprises, governments, and society at large, the event concluded.

4. Mindtree Appoints Vinit Teredesai as CFO

Mindtree, the leading digital transformation and technology services company appointed Vinit Teredesai as the Chief Financial Officer (CFO) of the company. This appointment is effective Monday, June 15, 2020. Teredesai brings in 25+ years of financial experience. So, he will be responsible for providing financial leadership to Mindtree in its global growth journey from Bangalore, India.

His experience also includes finance, accounting, auditing, taxation, fund-raising and risk management. He is also an expert at mergers and acquisitions and corporate restructuring.

5. Freshworks and TCS partner to bring digital transformation

Freshworks provides quick and strong ROI for businesses of all sizes looking to engage with their customers across multiple touchpoints. So, with Freshworks, businesses can unify all customer touchpoints with out of the box, practical AI solutions. These can be game-changing for businesses keen on efficient modernization. On the other hand, TCS will provide its global experience with extensive market presence. With its deep contextual knowledge of customer engagement, it will reinforce its digital offerings. These offerings are also built on its Business 4.0™ thought leadership framework.

They will market new age marketing, sales, support, customer success, and ITSM solutions on top of Freshworks cloud software to elevate end-user and employee experiences.

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