Infotech Enter-prises on Tuesday said it has acquired US-based Wellsco Inc. Wellsco is a telecom engineering services provider with annual revenues of $12 million. While Infotech did not disclose the deal size, sources said, it was worth around $15 million. “The telecommunications industry has always been an important market for us and telecom network design and engineering has emerged as an excellent growth area. With this acquisition, we gain access to the deep domain skills and experience of the local Wellsco team, which combined with long-term customer relationships and the US delivery capability, will accelerate growth,” chairman, Mr B.V.R. Mohan Reddy, said.
Docomo launches pay per site plan
Extending the pay per use paradigm for its mobile Internet users, Tata Docomo, on Tuesday launched a tariff plan, which will allow users to pay only for websites they regularly browse. The tariff plan — Pay Per Site —allows the subscribers to pay only for the websites they surf regularly instead paying hefty monthly rentals for data. The plan offers customers the power to decide on what they surf the most and purchase plans suited and tailored to specific needs. Pay Per Site offers two combination packs — those only interested in single websites need to pay Rs 10 per site, whereas those with multiple site browsing needs can opt for a combo pack at Rs 25 per month.
OMEL find may not be viable: Deora
ONGC-Mittal Energy Ltd, a co-venture of state-owned Oil and Natural Gas Corp and steel tycoon Mr Laxmi Narayan Mittal,
has made a hydrocarbon discovery in Nigeria but the find may not be commercially viable.“OMEL drilled well Kuyere-1 in block OPL-279 during January-February and discovered hydrocarbons,” the oil minister, Mr Murli Deora, said in a written reply to the Rajya Sabha. He however did not say if OMEL had found oil or gas. “As commerciality of the present discovery on standalone basis may be challenging, OMEL is studying the potential of further prospects in the block,” he said.
Carrefour seeks 100% FDI in retail
Promising to create a strong infrastructure and thousands of jobs in India, French retail major Carrefour has called for allowing 100 per cent FDI in multi-brand stores, and said that the move would ease inflationary pressures.
The government has taken a tentative step to open the politically sensitive sector, which employs 34 million people, to global players with the Department of Industrial Policy and Promotion (DIPP) releasing a discussion paper on the issue. “Any cap or restriction on FDI in this sector may result in potential loss of opportunities and avenues of inclusive growth of the retail sector,” Carrefour has said.