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Cognizant Technology Solutions has completed the acquisition of New Jersey based MarketRx, provider of analytics and related software services to global life sciences companies.
The company had said last month that it had signed a definitive agreement with MarketRx to acquire it for $ 135 million in cash, to be funded through its cash reserves.
The acquisition provides Cognizant access to MarketRx’s 75 customers, a company press release said. Source: Hindu
Digital technology leader, Samsung India Electronics Pvt Ltd, dedicated its state-of-the-art manufacturing facility at Sriperumbudur, near Chennai, on November 13, 2007. The unit, Samsung’s second manufacturing facility in India, was inaugurated on site by Tamil Nadu Chief Minister M Karunanidhi in the presence of Union Minister for Communications & IT, A Raja, vice-chairman and CEO, Samsung Electronics, Jong Yong Yun, G S Choi, CEO and president, Telecommunication Network Business, Samsung Electronics, Dr J W Park, president, Samsung DigitalĂ‚Â Media Business, H B Lee, president & CEO, Samsung South West Asia Regional Head Quarters, and S H Oh, managing director, Samsung India Electronics Pvt Ltd.
Samsung India, which signed the MoU with the Tamil Nadu government for the Sriperumbudur Complex in November 2006, has set up its first manufacturing facility for colour televisions within a year of signing of the MoU. The ground-breaking ceremony for the Chennai facility was held in February this Year. The manufacturing facility has a production capacity of 1.5 million units per annum for flat TVs and 0.3 million units per annum for LCD TVs. The Company is manufacturing 21″ and 29″ flat and ultra slim models as well as LCD models in the screen sizes between 19″ to 32″ at this facility.
States H B Lee, president & CEO, Samsung South West Asia Regional Head Quarters, “The Chennai facility will help us respond better and faster to the growing demand for our products in the southern part of the country.” The company also plans to export CTVs from the Chennai facility to Sri Lanka and Bangladesh starting next year.
“We are leveraging the best of Indian talent available here in Tamil Nadu as well as our global manufacturing expertise to produce world-class products from this facility,” said Lee.
Samsung India has invested $ 30 Million towards the setting up of this facility, which employs around 350 people at present. “We plan to work with and develop our vendor base in Chennai so that we can continuously enhance our competitiveness. In future, I am looking at the Chennai facility becoming a global manufacturing hub for Samsung operations,” added Lee.
Samsung’s existing manufacturing facilities in India include production facilities for flat colour televisions, including LCD TVs, colour monitors, refrigerators, washing machines and GSM handsets. The company’s R&D operations in India include hardware R&D at Noida as well as software R&D development centres – Samsung India Software Center (SISC) at Noida, for consumer electronics products and Samsung India Software Operations Unit (SISO) at Bangalore, for telecom software development. Source: chennaionline
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– Bangalore 365 Team