It’s a wrap: News this week (Jan 18 – Jan 24)

There have been multiple developments this week on the tech front. From footprint expansion to new deals, here is a list of the most important updates for a quick catch-up:

AWS plans $8 bn investment in Maharashtra

Amazon Web Services (AWS) has announced an $8.3 billion investment in cloud infrastructure in Maharashtra, part of its expansion into the AWS Asia Pacific (Mumbai) Region and a broader $12.7 billion commitment to India by 2030 to meet rising demand for cloud services and artificial intelligence (AI).

The Maharashtra government and AWS formalised the agreement on January 22 by signing a memorandum of understanding (MoU) at the World Economic Forum in Davos.

Additionally, Nielsen has also signed an agreement with the state government to invest ₹450 crore into the state’s IT and ITeS sector, creating 1,100 new jobs, particularly in technical roles such as AI Experts, Data Scientists, Data Analysts, and other specialised technology positions.

Noida-based Bankit gets acquired

Noida-based fintech company Bankit announced its acquisition by Australian digital payment provider Findi Ltd for AU$30 million through its majority-owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI). The transaction is expected to complete before the end of the financial year (by 31 March 2025).

Findi, listed on the Australian Stock Exchange (ASX), operates through over 50,000 merchant partners under the FindiPay brand and aims to enhance India's fintech landscape by targeting underserved regions.

IT services giants announce footprint expansion

HCLTech has strengthened its global delivery presence in Hyderabad with the inauguration of a new facility. The new center, spanning 320,000 square feet in the city’s Hi-Tech City, is set to provide advanced cloud, AI, and digital transformation solutions to clients across industries such as high-tech, life sciences, and financial services.

The second largest Indian ITeS firm Infosys plans to expand its campus in Pocharam, on the outskirts of Hyderabad. It will add 17,000 jobs at the campus. An agreement was made with the Telangana government to expand the facilities there.

This week, Tata Consultancy Services has inaugurated a new delivery center in Toulouse, France. This delivery center will facilitate AI-driven innovation to improve aircraft design, manufacturing, and maintenance processes for European clients.

The center will deliver tasks towards enhancing fuel efficiency, developing advanced materials for lighter aircraft structures, and implementing predictive maintenance to minimise downtime and improve safety and passenger experience. 

Cyient secures multi-year deal from Deutsche Aircraft

Cyient has announced the expansion of its partnership with Deutsche Aircraft, a German regional aircraft manufacturer. The collaboration has resulted in Cyient securing a multi-year contract to manage advanced technical documentation for the D328eco, a 40-seater regional turboprop aircraft.

The agreement will see Cyient leveraging its expertise to develop modular, scalable, and user-friendly solutions to support Deutsche Aircraft’s global customer base. The technical documentation will ensure faster time-to-market, a personalised user experience, and seamless device access. The initiative will also integrate Cyient’s AI-powered products, enhancing the efficiency and innovation of the solution.