Microsoft has won US antitrust approval to buy the Internet phone service Skype, the Federal Trade Commission said in a website posting on Friday.
Microsoft announced in May it was buying Skype for $8.5 billion, it’s biggest-ever acquisition, placing a rich bet on mobile and the Internet to try and best rivals such as Google Inc.
The approval was announced in a listing of deal approvals that comes out several times a week.
Microsoft’s interest in the money-losing, but popular service highlights a need to gain new customers for its Windows and Office software. Skype has 145 million users on average each month and has gained favor among small businesses.
When the angel investor mentoring a raw start-up is the former chief technology officer of IT bellwether Infosys Technologies , the probability of success for the fledgling company rises exponentially, as technology product start-up Customer XPs Software is discovering.
The Bangalore-based start-up, founded by a team that was earlier part of the products division at Infosys, has built a software product based on artificial intelligence. It is now live on the portals of ICICI Bank and is expected to rake in a slew of new customers across telecom, retail, insurance, healthcare and airline industries.
“The long experience with Infosys apart from general techniques, marketing and my contacts with other banks helped me to bring value to the company,” says Sharad Hegde, who led the development of Finacle, Infosys’ core banking solution, during his two decade stint with the IT service major. He was the first non-founder employee of the firm.
As entrepreneurship gains pace across the country, supported by greater risk capital and a new class of angel investors , more employees of technology majors are leaving their cushy jobs to launch their own ventures. “We are observing an increase in number of IT employees launching their own ventures,” says Nasscom vice-president Sangeeta Gupta. “There are some 1600 tech start-ups in the country and about 80% of them are being launched by experienced IT employees, working in India and overseas.” India Emerging profiles a bunch of start-ups spawned from the high-tech crucible within some of the country’s most exciting technology firms.