Business NEWS

Cognizant has acquired US-based TriZetto Corporation for $2.7 billion in an all-cash deal, a move which will help the IT services firm tap the lucrative healthcare IT software and solutions market.

Swedish furniture retailer IKEA has signed an agreement with States of Telangana and Karnataka to open stores and to find new suppliers. The memorandum of understanding (MoU) describes the preconditions that IKEA needs in terms of infrastructure. Ikea is one of the first retil companies to get approval for a 100 per cent foreign direct investment (FDI) in India.

Tata Power Co Ltd’s defence engineering unit, Tata Power SED, has signed an agreement with Honeywell International to produce the US company’s “TALIN” navigator in India. Honeywell will license the design and hardware to assemble, test and eventually build the production kits for the navigation system in India, in a boost for New Delhi’s efforts to encourage local manufacturing of defence equipment.

US-based real estate firm Hines, has launched ‘Hines India Residential’ to invest in residential developments in key urban centres of India. The firm, which had entered the Indian real estate market in 2006, has tied up with a global fund to invest over Rs 1,500 crore in various housing projects.

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