Latest News | Business Briefs Tech Mahindra Receives HRH The Prince of Wales' Terra Carta Seal *
Get latest articles and stories on Latest News at LatestLY. IT services firm Tech Mahindra on Wednesday said it has been awarded the Terra Carta Seal in recognition of the company's commitment to creating a sustainable future.
New Delhi, Nov 3 (PTI) IT services firm Tech Mahindra on Wednesday said it has been awarded the Terra Carta Seal in recognition of the company's commitment to creating a sustainable future.
His Royal Highness The Prince of Wales has -- through the Sustainable Markets Initiative (SMI) -- launched the Terra Carta Seal, which recognises private sector companies that are leading their peers in creating genuinely sustainable markets.
Tech Mahindra is the only Indian company out of the 44 firms that have been awarded the Terra Carta Seal, it said in a statement.
The inaugural 2021 Terra Carta Seal recognises global companies which are driving innovation and demonstrating their commitment to, and momentum towards, the creation of genuinely sustainable markets.
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It is being awarded to companies whose ambitions are aligned with those of the Terra Carta, a recovery plan for nature, people and planet, launched in January 2021.
"The pandemic allowed us to step back, introspect and reassess priorities to build a sustainable and futuristic world with equitable opportunities. Tech Mahindra has been a forerunner towards delivering innovative solutions to effectively respond to climate change and drive towards a greener digital economy," Tech Mahindra Chief Sustainability Officer Sandeep Chandna said.
He added that the company's emphasis on clean energy and optimum use of resources helps it in accelerating its transition towards a low carbon economy, while also creating sustainable value for its stakeholders.
****** Infobip to acquire Peerless Network *
Infobip Group, a global cloud communications solutions firm, on Wednesday said it has entered into a definitive agreement to acquire global VoIP provider Peerless Network for an undisclosed amount.
The transaction is expected to complete upon receipt of regulatory approvals in 2022 and will be financed with a combination of Infobip shares and cash, a statement said.
Peerless Network management will roll parts of its holdings into Infobip, it added.
"The deal extends Infobip's voice presence in the US and makes its world class suite of CPaaS products available to Peerless customers, driving high quality conversation across the entire customer journey," it added.
The acquisition builds on Infobip's ongoing investments and earlier acquisition of US messaging firm OpenMarket, which closed in December 2020.
Other acquisitions include the developer Shift Conference franchise (purchased in April) and SMS firewall provider Anam in May this year.
"In September 2021, Infobip also secured, through direct loan placement, additional funding in the amount of USD 500 million, advised by Morgan Stanley, and led by funds managed by the Credit Group of Ares Management Corporation, and funds and accounts managed by BlackRock," the statement said.
The direct loan placement puts Infobip alongside an exclusive group of high growth, high value technology companies, which utilised the same structure, it added.
This is Infobip's second funding round, following One Equity Partner's 300 million euros investment in the second half of 2020.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)