Tech Story

Daewoo Electronics – The Third Biggest Electronics Company In South Korea.

Daewoo Electronics, now known as Winia Electronics, is a leading South Korean consumer electronics company. Since its founding in 1971, the company has expanded into a global enterprise with more than 64 manufacturing facilities, R&D centres, and sales offices across more than 40 nations.

About The Company

The UK arm of the company, known as Daewoo Electronics Sales UK, was founded in 1993. It is now the third biggest electronics company in South Korea. The UK operation manufactures a variety of consumer home appliances like freezers, refrigerators, washing machines, vacuum cleaners, ovens, etc. The company also acts as an OEM(original equipment manufacturer) to former Daewoo Motors subsidiaries like GM Korea and Tata Daewoo by supplying them with various automotive accessories and equipment. The company also ventured into the computer space by manufacturing Daewoo CPC-300, which was based on the MSX standard. The CPC-300 and CPC-300E are the two different models of this computer.

History

Daewoo Electronics was part of the Daewoo Group founded by Kim Woo Choong. The parent company was declared bankrupt in 1999 because of the Asian financial crisis. Before this economic crisis, the Daewoo Group had a considerable presence in South Korea, where it was the second-biggest conglomerate after Hyundai Group. After the bankruptcy, the company was owned by a group of creditors.

Acquisition

In 2010 Entekhab Industrial Group of Iran offered the creditors to buy Daewoo Electronics for $529 million. The Iranian company had to compete with a Sweden company named Electrolux for this acquisition. The creditors accepted Entekhab’s offer and signed a deal. Entekhab made a security deposit worth 49$ million to the creditors. However, in June 2011, Daewoo’s creditors, led by the government-run Korea Asset Management Corp (KAMCO), terminated the agreement and kept the deposit after Entekhab missed a payment deadline and requested a discount. The creditors and KAMCO also began talks with Electrolux to sell the company. Entekhab stated that they believed the termination of the agreement to be unlawful and threatened to take legal steps to prevent the company’s sale to Electrolux. Later, Entekhab requested the deposit’s recovery, but the creditors rejected it, blaming Entekhab for the cancellation. The matter eventually went to the International Center for Settlement of Investment Disputes (ICSID), which ruled in favor of the Iranian company and ordered 62.9$ million in compensation to them.

In 2013 Daewoo Electronics was bought by the Dongbu Group( DB Group) in a deal worth 270$ million. In 2018, Daewoo Electronics was sold by the DB Group to Winia Group.

Jinkyun Choi – CEO

In 2014, Choi Jin-Kyun took over as the CEO and vice-chairman of Daewoo Electronics replacing Lee Jae-Hyung. Lee, who had served the company as CEO for 15 months, had to resign from his position owing to his health concerns. Choi spent three years as the vice president of Samsung Electronics’ consumer electronics division before joining Daewoo Electronics. At Samsung, Mr. Choi created high-end consumer electronics. He took part in aggressive marketing campaigns, turning around the Samsung consumer electronics business’s position that had been losing money for a while. He helped Samsung Electronics reach a 10 percent or more significant global market share for home appliances like washing machines, refrigerators, and air conditioners.

High-quality products that consumers can trust have helped Daewoo Electronics establish itself as a trusted household name. The company focuses on its customer support services while emphasizing quality, creativity, and performance. Through this use of cutting-edge technology and a dedication to creativity, durability, value, and perfection in design, Daewoo Electronics still maintains a good position in the consumer electronics market.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Alienware, Founded By Two Childhood Friends Inspired From Hit Television Series.

Gaming has become pretty popular among youngsters nowadays. It is one of the leading sectors of the tech industry. So, It is improving and developing day by day. Many brands in the market manufacture their products solely for gaming. One of the famous brands is Alienware, an American computer hardware subsidiary of Dell. Its Headquarters is located in Miami, Florida. It assembles PC gaming consoles, desktop computers, workstations, and notebooks.

History

Alienware was established on October 24, 1996, by two childhood friends, Nelson Gonzalez and Alex Aguila, in Miami. It was named “Saikai” of Miami, inspired by a hit television series, The X-Files, which also encouraged its product lines, such as Area-51, hangar 18, and Aurora. It changed its name to Alienware in 1997.

Important Figures

Michael Dell is the chief executive officer of Alienware and Vivan Lien is the Vice president. Some key people who played a significant role in its establishment are Joe Balerdi, Arthur Lewis, and Frank Azor.

Acquisition by Dell

Dell acquired it in March 2006, an American company that develops, repairs, and sells computer-related products and services. The talk of it being bought by dell was in the air before it. Dell had considered buying it in 2002 but finally decided after four years. It allowed Alienware to retain its design and marketing while benefiting from Dell’s purchase, lowering its operational cost. After the acquisition, there were two gaming pc lines; one was by Alienware, and the other was XPS within Dell. Alienware’s market share decreased. In 2008, It died down because of some restructural changes in the corporate market, making Alienware Dell’s premier brand. It introduced its first branded system, M17x, in March 2009.

Its Computer Models

Window OS-Based Consoles

In 2014, Alienware released a series of video gaming consoles aiming to compete with Sony PlayStation, Microsoft Xbox, and Nintendo Wii U.

Graphics Amplifier

Alienware laptops can run full-length desktop GPUs with the help of a graphic Amplifier.

Laptops

It developed a wide range of laptops, starting from a 17-inch display built in 2009, following 11.6, 13, 14, 15, and 18 inches, Its famous Area-51 series in 2019, and Aurora Desktops.

Video game console hybrids

Introduced a PC control hybrid in 2014, advancing it in 2016.

Manufacturing

Alienware has become dominant in the gaming industry. Its products are manufactured in China or Malaysia.

Michael Dell – Chief Executive Officer

Michael Saul Dell Is an American Businessman and The CEO of Dell Technologies and Alienware. He is also a humanitarian. He is listed as the 20th richest person in the world by the Bloomberg Billionaires Index, with a net worth of 60 billion US dollars (February 2022). He was born and brought up in Houston, Texas. His father was a stockbroker, so he knew about stocks at a young age. He even started to invest in stocks in his early teens. He was tech-savvy since childhood. He was given his first computer, an Apple II, at age 15. He dissembled it to see how it worked. His parents wanted him to be a doctor. So, he took pre-med at the University of Texas and simultaneously started an informal business. He began assembling and selling upgrade kits for personal computers. He registered his company under the name “PC’s Limited” in 1984, which became “Dell Computer Corporation” the same year. He became the youngest CEO at the age of 27 in 1992. In 1998, He founded MSD capital to manage investments. He led Dell Technologies through a crucial stage to the success we see today.

Nelson Gonzalez and Alex Aguila – Founders

Nelson Gonzalez and Alex Aguila were two childhood friends who grew up in Miami, Florida, playing video games together. Gonzalez was two years older than Aguila. They shared a great interest in video games which became the foundation of their Gaming career. They are also greatly interested in the Sci-fi series, which their Alien-themed product series name can see. They spent hours with computers to test them against different games in their high school years. Gonzalez was fond of flight simulation games. His favorite game was “falcon 3.0”. Their thirst for gaming-friendly computers pushed them to start Alienware.

Alienware is like a gamer’s treasure providing the latest technologies and covering all their needs. They have great reviews despite their cost.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

Pramod Bhasin Founded Genpact For Generating Business Impact.

Leave a Comment / Story, Tech Story / By Suhani Jain

Genpact is an American Multinational Business service provider firm. It provides solutions in digital transformation services like digital core, digital analytics, and Artificial Intelligence. It was legally domiciled in Bermuda, having its headquarters in New York City, New York. Its founder and former CEO is Pramod Bhasin, and NV Tyagarajan is the current CEO of Genpact. It has expanded its business in more than 30 countries, reaching a revenue of $4.14B (March 2022).

Foundation and History

Genpact was founded in 1997 by Pramod Bhasin as GE capital international services (GECIS), a Business Unit within Generic Electric with only 20 employees under the leadership of Pramod Bhasin. GECIS played a significant role in the growth of GE between 1998-2001. In 2003, GE reduced its stakes in GECIS by 40%.

Independence

At the beginning of 2005, Genpact became an independent firm starting to provide its services outside of Generic Electrics. It changed its name to “Genpact” with the idea of “Generating global impact”. Also, In 2005, It was listed under the symbol “G” on NYSE (New York Stock Exchange) and has been trading publically since then. It launched a joint venture that same year with NDTV, an Indian company, to offer its outsourcing services to the media industry. In 2011, the company shifted its headquarters to New York, expanding its services in Europe, and Pramod Bhasin resigned his position as the CEO and became Vice-Chairman of the company. NV Tyagarajan became the New CEO of Genpact. Bain Capital was the largest shareholder of the firm in 2012.

Growth and Revenue

At the beginning of 1998, the company hired 800 clients and made a revenue of four million US dollars by 2001, became a company with 12,000 employees, and played a tremendous role in GE’s growth. In 2003, it hired about 17 000 people from India, the US, China, Hungary, and Mexico. In 2005, after its separation from GE, it recorded 493 million US dollars. In 2008, It achieved a revenue of $1 billion, of which half of its clients was other than GE. By this time, it has reached more than 100k employees with 800 clients worldwide with a revenue of $4.14B.

Acquisitions

It also acquired many Renowned companies, such as Endeavour Software Technologies, an enterprise mobility software company, and TandemSeven, an experience design company, OnSource, An IaaS Provider, Commonwealth Informatics, Barkawi Management Consultants, a supply chain management firm etc. It has its main offices in London, Hyderabad, and Delhi.

Pramod Bhasin – Founder of Genpact

Pramod Bhasin is a Wonderful Entrepreneur and former CEO of Genpact. he started Genpact and led it to the firm it has now become. He has a bachelor’s in commerce from Shri Ram College of Commerce and is a CA from Mclinktock & Co, London. He was head of GE capital In Asia and gave 25 years of his life to the growth of GE and Genpact. Genpact was awarded the Global Shared Service Leader of the Year under his leadership. He was also cited and awarded for his contribution. People also called him a finance wizard who started the BPO industry. He was a great Entrepreneur as well as a bright, down-to-earth human being.

NV Tyagarajan – CEO

He is the President and current Chief Executive Officer (CEO) of Genpact. He is known as the Tiger Tyagarajan for his tremendous work in Generic Electrics. Tiger started his career in India with the Unilever Group and then moved to Citibank’s Consumer Financial Services business. He joined GE Capital in 1994 as head of Risk in India and became CEO of GE Capital’s Global Consumer Finance and Auto Financial Services business in India. In GE capital, he served as the global operating leader in the United States. Tiger to collaborates with C-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. He majored in finance and marketing and holds a Master’s degree in Business administration from the Indian Institute of Management (Ahmedabad). Also, have a degree in Mechanical Engineering from the Indian Institute of Technology (Mumbai). He led Genpact through its crucial time. He is also a core business strategist. He also works with a non-profit organization.

These renowned figures like Pramod Bhasin and Tiger Tyagarajan and many hard-working employees working under them made Genpact the leading Service provider firm it is today.

Suhani Jain

Persistent Systems – Providing Full Product Life Cycle Services.

Leave a Comment / Story, Tech Story / By Roshni Ankola

Persistent Systems Limited is a multinational corporation that specializes in software products, services, and technological innovation. The company provides full product life cycle services. The company provides services at all stages of the product life cycle, allowing us to work with a diverse set of customers and create, upgrade, and deploy their software products. In the Deloitte Touché Tohmatsu Technology Fast 500 Asia Pacific 2009, the company was recognized as one of the leading technology companies.

About The Company

On May 30, 1990, Persistent Systems Private Limited was formed, then on September 17, 2007, the firm was transformed into a public limited company and its name was changed to Persistent Systems Limited. The organization has extensive experience in telecommunications, life sciences, and infrastructure and systems. The company invested in innovative cloud computing analytics enterprise collaboration and enterprise mobility technologies and frameworks. It is an OPD specialist firm that provides consumers with the advantages of offshore delivery. It generates new applications and increases the functionality of customers’ existing software products while designing, developing, and maintaining software systems and solutions. It provides services at all phases of the product life–cycle, allowing it to collaborate with a diverse set of customers and develop, upgrade, and deploy its software products. It was named one of the top technology businesses in the Asia Pacific Deloitte Touché Tohmatsu Technology Fast 500 in 2009.

Founding Story

Persistent Systems creates software that powers its clients’ businesses. In 1990, it was incorporated in India as Persistent Systems Private Limited. The founders of Persistent Systems, LLC pioneered the initial R&D into high throughput routing in early 2002 and have been consistently striving to ensure that data moves effectively via the wireless network. Over the next decade, it bought several software competitors and grew globally, creating operations in the United Kingdom, Japan, and the Netherlands. It also created alliances with companies such as Microsoft and M/1M.

It established Persistent Systems, Inc., a wholly-owned subsidiary situated in the United States, in 2001. Persistent Systems Limited was incorporated as a public limited company in September 2007. The firm’s shares were listed on the National Stock Exchange of India in March 2010. That same year, it bought many companies, including Infospectrum and Paxonix, a MeadWestvaco affiliate.

Fourth S – Software 4.0 – In 2014, Anand noticed that every company was becoming a product company, and there was talk about software consuming the globe.’ Anand met M R Rangaswami, co-founder of Sand Hill Group, who later assisted Persistent in developing its digital transformation narrative.

Key Partners And Resources

The suppliers who supply Persistent Systems with the equipment and services it needs to run its operations, as well as the contractors who provide temporary job services, are significant partners. IBM, Oracle, Salesforce, Appian, and Microsoft are among the company’s partners. The core resources of Persistent Systems are its human resources, which include the engineers who design and develop its software as well as the customer service employees who provide assistance. Persistent Systems’ structure is cost-driven, with the goal of minimizing expenses through extensive automation. Its most expensive variable item is the cost of acquired software licenses.

Anand Deshpande – Founder

Dr. Anand Deshpande has been the Founder, Chairman, and Managing Director of Persistent Systems since its creation, and is responsible for the Company’s overall leadership, strategy, and management. Anand’s talents as a real technology visionary lay in discovering and investing in next-generation technologies, as well as promoting internal entrepreneurship, to guarantee that Persistent Systems remain at the forefront of technological innovation.

Anand has been a driving force in the growth of Persistent Systems from its foundation in 1990 to its current status as a publicly-traded worldwide company. In 2012, he was named a Distinguished Alumnus by IIT Kharagpur, and in 2007, he received the Career Achievement Award from Indiana University’s School of Informatics. Prior to creating Persistent Systems, Anand worked as a Member of Technical Staff at Hewlett-Packard Laboratories in Palo Alto, California, from May 1989 until October 1990.

Roshni Ankola

I am a second-year student pursuing Liberal Arts from Nmims. I am a painter, I love reading and have a great interest in cooking. I am also a trained kickboxer. I’ve always had a passion for writing and hence in my free time, I work as a freelance writer.

Mphasis – Assisting Firms in Global Business Transformation From 1993.

Leave a Comment / Story, Tech Story / By Roshni Ankola

Mphasis Group, a worldwide, multicultural organization located in Bengaluru, India, specializes in offering clients worldwide a spectrum of application development and maintenance services, infrastructure outsourcing services, and business and knowledge process outsourcing solutions. MphasiS Limited (MphasiS) was established on August 10, 1992. It was created by the merging of MphasiS Corporation, a US-based IT consulting firm, and BFL Software Limited, an Indian IT services firm. Australia, Belgium, Canada, France, Germany, India, Ireland, Mauritius, the Netherlands, the People’s Republic of China, the Philippines, Poland, Singapore, the United Kingdom, and the United States of America all have subsidiaries.

History Of The Company

In 1993, the company deployed extra workstations and equipment in order to develop its operations. MphasiS was awarded the ISO 9001-1994 accreditation by BVQ U.K. in 1995. In order to provide high-quality service to its customers, the company was reorganized in 1996 into six independent Business Units (IBUS). Compaq Development Center, Tandem Solution, Applications, Systems and Networking, Products, and Y2K are among them. In 1997, the company signed a long-term software development agreement with the US-based Compaq Corporation. That same year, MphasiS established a dedicated software development center for the US-based Lanier Worldwide, specializing in medical documentation management, and it also formed a strategic alliance with two US-based companies in order to enter the international market. In 1998, the company established a subsidiary in the United States and began a consulting activity to provide higher-margin services. During the same year, the Company launched its first healthcare product in the international market and signed an agreement with Net Communications, a subsidiary of Malaysia’s Netcard Corporation Berhard, to develop and market netKIOS globally.

The Turning Point

Mphasis fortunes have been transformed by a takeover by the US-based private equity firm Blackstone and a fast reversal in the HP channel, which accounts for over 30% of its sales.

In September 2016, Blackstone purchased a majority 60.5 percent share in the Bengaluru-based IT services company from Hewlett-Packard Enterprise (HPE). Aside from that, a fast turnaround in the company’s HP business, which had been declining 15-20% each year until two years ago, proved to be a windfall. (HP/DXC is a shared entity/segment that arose after HP merged with another company, CSE, and is now known as DXC.) The turnaround is evident in the stock price of MphasiS, which has nearly doubled (up 93.5%) from Rs 500 on November 11, 2016, to Rs 968 on November 12, 2018. The stock beat most of its peers in the IT sector and the S&P BSE Sensex, rising 30% over this time period. Before this, MphasiS had declined for six years, falling 14% from Rs 581 in November 2010 to Rs 500 in November 2016. During this time, IT equities have risen by nearly 5,000%.

Mphasis At Present

Mphasis’ revenue ranks seventh among its top ten competitors. The top ten contestants have an average of 2.9B. Mphasis’ revenue has increased by 2.9 percent during the last four quarters. In the June quarter, net profit increased 3.9 percent year on year but declined 22.1 percent sequentially to 275.1 crores.
The banking and capital markets and logistics and transportation industries, which expanded 22.1 percent and 21.6 percent year on year during the June quarter, will be the primary drivers of growth.
In Q1, the company obtained new orders of $259 million in total contract value (TCV), with 79 percent of the deals pertaining to ‘new-gen’ services, which essentially allude to its digital business, which includes cloud, automation, and related technologies.

Jeroen Tas and Jerry Rao – Founders

Jeroen Tas and Jerry Rao co-founded MphasiS, an IT company, in 1998, which later merged with Indian IT services firm BFL Software in 2000.
Jeroen co-founded and served as President, COO, and Vice-Chairman of the board of MphasiS, an IT and BPO business bought by HP in 2006. Prior to joining MphasiS, he was the head of Transaction Technology, Inc., Citigroup’s tech lab, where he was in charge of the bank’s customer-facing technologies, such as Internet banking and self-service devices. Jaithirth Rao, often known as Jerry Rao, is a Mumbai-based Indian businessman and entrepreneur. He is the founder and former CEO of MphasiS software and the Executive Chairman of Value and Budget Housing Corporation. Jerry Rao has been regarded as one of India’s top banking and finances minds over the past two and a half decades. Rao was the Chairman and CEO of Transaction Technology Inc, and then the Global Electronic Card Division, before leaving Citi. He also served on Citicorp’s Internet Steering Committee.

Roshni Ankola

Worldline – Providing Payment And Transactional Services.

Leave a Comment / Story, Tech Story / By Roshni Ankola

Worldline is a corporation that offers payment and transactional services. It operates in four segments: Merchant Services, Financial Services, terminal, Solutions, and Services, and Mobility and e-Transactional Services. Terminals and point of sale, online payments, omnichannel commerce, issuing and acquiring solutions, account payments, digital banking, connected services, customer interaction, cloud services, and other services are available from the organization. Worldline serves the retail, financial, manufacturing, transportation, and public sectors, among others.

About The Company

Worldline SA, originally Atos Worldline SAS, the payment and transaction services provider is based in France. The organization has operations in Asia, Europe, and Latin America. The headquarters of Worldline is in Paris, France. The company develops and operates digital platforms that handle all transactions between businesses, their partners, and their customers. It provides a variety of financial services, including acquiring processing and value-added services, issuing processing, online banking, and software licensing. It serves the banking, transportation, retail, healthcare, financial services, insurance, media, and telecommunications industries.

Worldline’s Story

The story of Worldline begins in 1996, when Axime offered to buy Sligos, culminating in the successful merger of the two firms under the new name Atos. Atos quickly acquired more companies and rose to prominence as a leader in payment software and integration activities. The corporation established the new subsidiary Atos Worldline in 2004 to focus only on payments and transactional services.

Two years later, the business purchased Banksys, which is in charge of safeguarding and insuring electronic payments in Belgium, as well as BCC, which operates payment systems linked to the two main credit card networks, Visa and Mastercard. In 2013, the Atos Worldline segment obtained autonomy, and a year later, Atos floated Worldline as a standalone company for 26.59 percent of its interests, for 575 million euros, valuing Worldline at 2.1 billion euros. With over 11,000 workers and services in over 30 countries, Worldline rose to become the European Payment Champion. Worldline merged its electronic financial transaction processing services with the Dutch payment processing company Equens in November 2015 to form equensWorldline. The debut in 2016 established Worldline as the European payment services market leader.

When Atos shareholders approved the plan to divide 23.4 percent of Worldline shares to their owners in May 2019, Worldline became an independent business. The company expanded its international reach and inked a long-term strategic commercial acquiring agreement with Australia’s third-largest acquirer, ANZ Bank, at the end of 2020. One aspect of Worldline’s objective was to establish and enable an ecosystem with simple financial technology integration for as many businesses as feasible. As a result, Worldline fortified its position in 2017 by acquiring Digital River World Payments (DRWP) and First Data Baltics. This gave Worldline control of ANZ’s merchant acquisition business, allowing them to provide value-added products and services to its merchant customers. The Australian market is significant because it is the world’s 14th largest economy and is witnessing rapid expansion in digitalization. Worldline’s tale continues in May 2021, when we bought 92.5 percent of Cardlink’s share capital in order to build Worldline’s Merchant Services business in one of the world’s most promising markets. Cardlink is Greece’s top network services provider, with exclusive access to the country’s leading payment acceptance network. This transaction will provide with a greater presence in southern Europe a country that is rapidly adopting electronic payments.

CEO – Gilles Grapinet

Since July 2013, Gilles Grapinet has served as Worldline’s Chief Executive Officer. Soon after taking over, he led the company through a successful IPO in 2014, which resulted in Worldline’s listing as a public company on the French stock exchange. The company has more than doubled in size, geographical reach, and revenue since 2013. Mr. Grapinet, a fervent supporter of corporate social responsibility, launched the TRUST2020 program in 2016 – an ambitious roadmap that ensures trust is at the heart of all Worldline interactions.

Worldline, which became entirely independent of Atos on May 3rd, 2019, is now the n°1 electronic payment services provider in Europe and n°4 internationally and has been a member of the CAC40 leading French index since March 2020, with a market valuation of over 21 billion euros (March 2021).

Roshni Ankola

Follow Us