Sasken Communication Technologies Ltd. (Sasken), India's leading embedded communications solutions Company and IDG Ventures India, a $150 million technology venture capital fund, today announced the launch of Con-nectM Technology Solutions Pvt Ltd (ConnectM) for providing Machine 2 Machine (M2M) enabled solutions to global markets. Commenting on the Sasken – IDG Ventures Company, Mr. Rajiv Mody, Chairman and CEO, Sasken Communication Technologies Limited, said, “Sasken has been focused on embedded communication solutions with significant expertise in mobile devices/ handsets. Through ConnectM, we will leverage our expertise to address corporate customers in Transportation, Utilities, Industrial, Enterprise markets. ConnectM will provide one more axis of growth for Sasken” […]

There is a likelihood that only 10-12% stake will be made available to private equity and strategic investors eyeing for Patni Computer Systems stake as against 44% earlier, reports Economic Times. It is said that promoters Ashok and Gajendra Patni, who were reportedly looking to completely exit the company by selling the 14% stake held by each of them, are now looking to sell only 5-6% each. Moreover, private equity investor, General Atlantic Partners, which earlier wanted to sell its entire 16% stake is rethinking on the issue. […]