Weekly RoundUp: Get updated on the latest IT news that you might have missed this week
Here are the things that have been turning tables in the IT industry in the past week. Keep reading this blog post as it gives you the weekly round off with the latest news. Be it Tripledot Studios securing $78 million or Australian fintech gearing up for listing its IPO listing appointing 2 new directors or how Australia’s Fintech Zip Co is thinking of offering cryptocurrency for treading and the fact that Microsoft is said to be in advanced talks to buy Nuance for $16 billion. Keep reading to know more. Looking at the big news first!
Tripledot Studios secures $78 million and raises it valuation close to $500 million:
This UK based gaming industry founded by renowned industry veterans like Akin Babayigit, Lior Shiff and Eyal Chameides in 2017 is rapidly raising name in gaming industry. Recently it has secured $ 78 million as funding from 3 leading global investment firms viz Lightspeed Venture Partner, Eldridge and Access Industries. Tripledot studios are famous for bringing us games like Woodoku, Solitaire and Blackjack. They have seen a drastic increase in their active users from 6 million to 11 million in a short span of 6 months. The Tripledot CEO Lior Shiff appreciated the funding as a key milestone in their start up. He expressed his privilege to partner with these well known investors that help accomplish long term goals for Tripledot while fulfilling its vision. 2021 waits the rolling out of some brilliant new original games as well as acquiring some more studios for tripledot that can benefit from its expertise and add to the growth of company. Chairman and CEO of Eldridge, Todd Boehly stated this excitement to work with Tripledot in enhancing the mobile games and esports networks for growth and development of new games with different and multiple player compatible.
Australian Fintech looking forward for its IPO listing:
SocietyOne made an announcement about hiring two new independent Non-Executive Directors. This news comes in the wake of another big news that the company preparations for ASX listing in 2021. Society One is an Australian peer-to-peer money lending company founded in 2011. Being a value addition for the leading fintech the two newly appointed directors Melanie Cochrane and Jamie McPhee will bring an array of experience especially at the time when the company is gearing up for their launch in the share market.
Melanie Cochrane comes with a strong experience of 25 years working with American Express while Jamie McPhee was previously associated as the Chief Executive Officer of ME Bank. Both the candidates have a sound background in their field and will be a major score for Society One. While commenting on the new hiring the CEO of SocietyOne Mark Jones confirmed that both Melanie Cochrane and Jamie McPhee will be strength fintech’s strategic, governance as well as risk capabilities.
Malanie Cochrane seemed excited as she expressed it to be great time to join SocietyOne as she brings the right mixture of experience of digital exposure as well as leading customer experience.
Jamie McPhee on the other hand look s ahead for bring his expertise to the table and contributing in taking the company to the next round of growth and development.
Australia’s fintech Zip Co thinking of offering cryptocurrency for trading:
Zip Co, one of Australia’s leasing Fintech, is planning on offering stocks and crypto trading service. Co-founder of Zip Co, Peter Gray while talking to Wall Street Journal’s said that they are looking to attract young customers by launching trading services through native app. Although there was no clarity as to which of their services either trading or cryto currency will roll out first.
Although Gray did mention that the first roll out for their trading services would be made to its 3.8 million customers especially for to its US-based QuadPay unit. He also expressed Zip Co’s inclinations towards the use of crypto currency and the use of native app for buying and selling shares. Looking forward for these new features the company expects more advances in United States as compared to Australia. As on 14th April Fin Co’s treading went on a halt as it had pending release of the capital raising announcement.
Beginning of 2021 has seen Zip Co’s share rise by 72% making it as a good time for the company to raise money. With Zip Co’s US Quadpay business growing rapidly, there seems good opportunity to attract potential investors.
Peter Gray also mentioned options for the new cryptocurrency and stock offerings were planned while using existing infrastructure, partner with existing platforms and acquire specialist businesses or step up and build anew, as reported.
Microsoft in talks to buy Nuance for $16 billion:
The multinational Microsoft Corp. is said to be in advanced discussions to buy Nuance Communications Inc. an artificial intelligence and speech technology company for $16 billion, as reported by Bloomberg News. If successful this deal can value the AI company at $56 per share, however, this can still change as there is no official disclosure yet on this matter from Seattle-based Microsoft and Burlington-based Nuance.
LinkedIn acquisition in 2016 was thus far the largest for Microsoft at $24 billion, if gone right this could be the second largest acquisition. Nuance- Microsoft collaborations go back to 2019 when they started working on technologies that could help the doctors capture voice conversations from patient visits and update the entry in electronic medical records. Microsoft stepped in artificial intelligence long ago with an attempt to find ways to make it easier for people to speak to computers. They have also made several advancements with AI like recognize and translate speech, recognize image and even detect anamolies. All of which have greatly added to the growth of healthcare sector.
Nuance Communications is a US-based multinational technology corporation with 6500 employees led by Chief Executive Officer is Mark D. Benjamin. The two companies have worked on several projects in delivering better in healthcare IT. A few projects that can be named are combining the Dragon Medical platform with Azure AI services, Azure and ProjectEmpowerMD intelligent-scribe service along with some more AI tech developed by them together. In recent years Microsoft has dedicated a lot of man hours in artificial intelligence technologies and the company recognizes that AI can be a great sales drives in coming future. Also Microsoft faces tough competition on the AI front from companies like Alphabet Inc’s Google and Amazon.com Inc. who are all actively investing in AI.
Use of collaborative tools for faster deployment- CIOs plan for refining telehealth:
The pandemic has created a situation in Healthcare that the industry has not faced before. It is the need of time that the top CIO’s bring in action collaborative tools that can help improve the telehealth sector.
Some prime topics of discussion among the five leaders in the sectors David Chou, senior vice president and CIO at Harris Health System, Joe Fisne, vice president and associate CIO at Geisinger, W. Glenn Hilburn, RN, vice president for information technology at Grady Health System, Zachary Hughes, vice president of innovation and technology at Aspire Health Partners, Steve Phillips, director of information technology at Greene County General Hospital were the need to secure a place for telemedicine and expand its capabilities, deploy and scale new technologies faster, and embrace Agile processes and collaborative IT.
They all agreed that given the global crisis, the patients have become more accepting of telemedicine. This has also allowed the specialist to broaden their reach and reach maximum people outside the immediate community. Telehealth tools have supported the refinement in efficiency and effectiveness in providing patient care.
Collaborative IT has been of great help to bring together various teams to exchange their experiences and save the time in travelling just for meetings. Microsoft Teams and teleconferencing as a collaborative approach has helps care providers communicate faster and better. Talking about Agile Hilburn said, “While Grady IT has utilized an Agile methodology in some capacity for a number of years, this past year allowed us to truly understand just how impactful an iterative approach can be in delivering real value to our organization,” Chou has developed a virtual water cooler chat by keeping online virtual open office which helps focus on communication with the various departments. Phillips concluded saying that IT is every evolving field that we need to be open minded and flexible to accept it in telemedical field.
Silicon Valley’s Techie Narayan Gangadhar appointed as the New CEO for Angel Broking:
Fintech brokerage firm, Angel Broking is taking a huge step up by appointing a techie Narayan Gangadhara the new CEO. Narayan comes with more than two decades of global experience in leading technology businesses with top Silicon Valley companies, such as Google, Microsoft, Amazon and Uber.
He has a lot of operating experience leading highly disruptive businesses by driving innovation in product, technology, capability building and processes automation.
Talking about the new recruit Dinesh Thakkar, CMD, Angel Broking acknowledged that Narayan is the right person to lead Angel Broking along its journey as a leader in this industry. He is a well rounded engineer along with has great leadership qualities which will be an asset to the company. He can lead the company to becoming India’s preferred Fintech company. He expressed his vision that Narayan can lead the team to international standard apps, offering world-class customer experience, and taking best-in-class AI/ML journeys for new and existing customers to understand investing and trading well.”
Narayan expressed that this is an apt time to step on this journey and taking this new role. He mentioned his entire focus will be unlocking superior efficiency for all stakeholders. He aims to make the product more accessible in mass market.
Cisco AppDynamics Expands Global Software-as-a-Service Offering With Five New Locations:
CiscoApp Dynamics, announced the expansion of its Software-as-a-Service (SaaS) offering five strategic new locations, which will enable fast, secure and reliable access to the AppDynamics Business Observability platform.
These five locations based across Africa, Asia, Europe and South America will bring up the total number of SaaS locations to nine.
Gartner’s latest research shows that almost 70 percent of organizations that are using cloud services to plan spend in the wake of COVID 19 pandemic.
These five new locations follow soon after the AppDynamic’s SaaS offering in India as announced in October 2020.
All of these locations are strategically selected based on regional user demand, AppDynamics is getting a good response as this strategy is quickly meeting the needs of enterprises around the world.
For example, its Frankfurt SaaS location doubled the amount of users in only 18 months.
Built on Amazon Web Services (AWS), new locations in Cape Town, Hong Kong, London, São Paulo and Singapore will provide regional customers and partners with access to full-stack observability solutions that can secure, scalable and adhere to their local data residency regulations, enabling companies to deliver a superior digital experience.
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Zip Logo credit: Zip Co