Displaying items by tag: investment
Accenture announced the formation of Accenture Cloud First with a $3 billion investment over three years to help clients across all industries rapidly become “cloud first” businesses and accelerate their digital transformation to realize greater value at speed and scale. Karthik Narain will lead Accenture Cloud First and join the Global Management Committee, effective October 1.
Accenture is recognized as a leading partner to the world’s major cloud providers. With approximately $11 billion in cloud revenue in its fiscal year 2019, Accenture’s leadership spans from Software as a Service—delivered through the company’s Intelligent Platform Services—to its migration, infrastructure and application cloud services. More than 100,000 Accenture cloud professionals help clients shape, move, build and operate their businesses in the cloud and realize the cloud’s business value, speed, cost, talent and innovation benefits.
“COVID-19 has created a new inflection point that requires every company to dramatically accelerate the move to the cloud as a foundation for digital transformation to build the resilience, new experiences and products, trust, speed and structural cost reduction that the ongoing health, economic and societal crisis demands—and that a better future for all requires,” said Julie Sweet, chief executive officer, Accenture. “Accenture Cloud First and our substantial investment demonstrate our commitment to delivering greater value to our clients when they need it most. Digital transformation requires cloud at scale, and post-COVID leadership requires that every business become a ‘cloud first’ business.”
Accenture Cloud First is a new multi-service group of 70,000 cloud professionals that brings together the full power and breadth of Accenture’s industry and technology capabilities, ecosystem partnerships, and deep commitment to learning and upskilling clients’ employees and to responsible business, with the singular focus of enabling organizations to move to the cloud with greater speed and achieve greater value for all their stakeholders at this critical time. Specifically, this new group integrates the company’s wide-ranging cloud expertise, including cloud migration, infrastructure, and application services and ecosystem partnerships; deep industry and cross-industry insights, data and Applied Intelligence capabilities; Accenture Interactive’s leading experience design skills; and insights from the company’s unmatched experience in modernizing and operating large IT estates and key business processes across finance, HR, marketing, supply chain and specific industries for leading global companies. This operational experience at scale is critical to ensuring companies realize value from their cloud and digital transformation. Edge computing, integrated with the cloud, also will be a key focus area.
Accenture Cloud First also combines world-class learning and talent development expertise; deep experience in cloud change management; and cloud-ready operating models with a commitment to responsible business by design—with security, data privacy, responsible use of artificial intelligence, sustainability and ethics and compliance built into the fundamental changes Accenture helps companies achieve.
Accenture’s $3 billion investment will be used to continue advancing—often together with its cloud and broader technology ecosystem partners—industry roadmaps, data models, and solutions; cloud AI data and AI architectures; integrated full-stack infrastructure and applications capabilities; cloud tools, assets, and automation to drive lower unit cost and innovation; and research and development in edge computing and related cloud technologies.
Karthik Narain will lead Accenture Cloud First. A technology industry veteran based in Silicon Valley, Narain most recently served as the lead for Accenture Technology in North America, helping guide Global 2000 brands in using the power of the cloud and other technologies to transform their businesses. Over his 20-year career, he has led many innovative technology programs for clients across a variety of industry sectors, including Software & Platforms, Financial Services and High Tech. Karthik also previously led Technology services for Accenture’s Communications, Media and High Tech industry segments.
“Cloud is the most disruptive and value-creating technology of our time—it is the foundation for the digital transformation that is driving profound changes in how businesses operate, compete and create value for all their stakeholders,” said Paul Daugherty, group chief executive, Accenture Technology. “With most businesses currently at only about 20% in the cloud, moving to 80% or more rapidly and cost effectively is a massive change that requires a bold new model. Accenture Cloud First, along with our $3 billion investment and our market-leading Software as a Service capabilities in Intelligent Platform Services, ensures that we provide our clients with value, speed and innovation in every part of their cloud journey.”
“The acceleration to new levels of digital performance by companies requires a transformation of talent across the enterprise to achieve truly new ways of competing, operating and serving customers,” said Annette Rippert, group chief executive, Accenture Strategy and Consulting. “We believe that helping our clients purposefully build the core skills they need and quickly adopt new ways of working is essential to achieve value moving to the cloud. Accenture Cloud First brings our strong capabilities in driving change and developing talent not only for our clients but also for Accenture—we are already 95% in the cloud, and in FY19, we invested $1 billion in developing our people.”
Today’s announcement comes as worldwide demand for cloud computing has skyrocketed due to the COVID-19 pandemic. According to Gartner, the worldwide public cloud services market is forecast to grow 6.3% in 2020 to total $257.9 billion, up from $242.7 billion in 2019. “When the COVID-19 pandemic hit, there were a few initial hiccups but cloud ultimately delivered exactly what it was supposed to,” said Sid Nag, research vice president at Gartner. “It responded to increased demand and catered to customers’ preference of elastic, pay-as-you-go consumption models.”
 Gartner Press Release, Gartner Forecasts Worldwide Public Cloud Revenue to Grow 6.3% in 2020, July 2020, https://www.gartner.com/en/newsroom/press-releases/2020-07-23-gartner-forecasts-worldwide-public-cloud-revenue-to-grow-6point3-percent-in-2020#:~:text=The%20worldwide%20public%20cloud%20services,increasing%2095.4%25%20to%20%241.2%20billion
HMD Global, the maker of Nokia brand phones, announced it has raised USD 280 million in new financing from investors including Google, Qualcomm and Nokia. The money will go to strengthening its product offering, including 5G devices and new services, and expanding in new markets, such as Brazil, India and Africa.
The company announced four areas where it plans to invest. First, is affordable 5G smartphones, "with an emphasis on strong partnerships with US carriers".
Second, HMD Global will further transition to digital-first offerings as part of a new post-COVID reality, as well as more consumers buying their phones from internet sellers.
Third, the company plans to expand its presence in key growth markets. This includes the recently introduced operations in Brazil, as well as Africa and India.
Fourth, the investment will help the business strengthen its position beyond hardware and into a "holistic mobile service provider".
This year alone, HMD Global launched its international data roaming service HMD Connect, enhanced its mobile cybersecurity capabilities with the acquisition of Valona Labs assets, and started developing its own software, security and services with a new research and development centre in Tampere, Finland.
It last raised external funds with a USD 100 million round in mid-2018. HMD first started selling Nokia phones in 2016 and has since expanded to 91 markets and shipped over 240 million phones.
Chinese telecommunications conglomerate Huawei has stepped up its legal battle in the United States by filing a lawsuit which is requesting that a US court overturn a federal ban that has been imposed on the company.
Huawei’s European figurehead has blasted the US over its treatment of the Chinese vendor has described their behavior as ‘bullying’.
UK telecommunication operators are pooling together in an effort to try and tackle the coverage issues afflicting rural areas.
Global ride-hailing firm Uber has projected a more measured valuation ahead of its IPO debut on the New York Stock Exchange later this week.
Swiss telecommunications operator Swisscom has launched the continent’s first large scale 5G networks in partnership with Swedish vendor Ericsson.
In a statement released by the Swedish telecommunications behemoth it confirmed that the 5G network was launched in 54 cities across Switzerland after the operator secured a license to operate a 5G network in the country.
Ericsson has seen its financial coffers significantly boosted by its success in the North American market following the publication of its Q1 results.
Ericsson CEO Borje Ekholm expressed his delight at the launch of the 5G networks in Switzerland and predicted that the company would up the ante in relation to 5G in the large parts of Asia by the end of this year.
Ekholm said, “To date we have publicly announced commercial 5G deals with 18 named operator customers, which, at the moment, is more than any other vendor. The company would continue to incur costs for field trials and we’re expecting large-scale deployments of 5G to begin in parts of Asia by the end of 2019. Combined, this will gradually impact short-term margins but strengthen our position in the long term.”
Shares of Ericsson rocketed on the Stockholm stock exchange with the company reporting an increase of 3% which represented a four-year high for the vendor.
Ericsson, one of Chinese telecom giant Huawei's main rivals in the 5G market, said earlier this year it hadn't felt any effects from US pressure on countries to ban Huawei's equipment amid fears that it could compromise the security of the mobile phone networks.
US electronics behemoth Intel has made the decision to withdraw from the 5G smartphone modem business following the unlikely resolution agreement that was brokered between Qualcomm and Apple.
Apple and Qualcomm managed to settle the dispute between both parties over royalty payments and reached a deal ahead of fresh court case that was set to get underway in San Diego next week.
The modems that connect smartphones to telecommunications networks were at the heart of the battle between Apple and Qualcomm. Following the announcement the dispute had been resolved Intel wasted no time in exiting the 5G smartphone modem business.
Intel had clearly recognized and identified that there was an opportunity for them to capitalize on the dispute between Apple and Qualcomm, and then Apple had turned to Intel before reaching the agreement with Qualcomm.
The lawsuit was expected to be a protracted legal battle, but after the unlikely resolution it’s expected that Apple and Qualcomm will now become partners again before there fall out in 2017.
Intel issued a statement in which it indicated that it would complete an assessment of the opportunities for 4G and 5G modems in PCs, Internet of Things devices and other data-centric devices while pursuing investment opportunities in its 5G network infrastructure business.
CEO Bob Swan insisted that 5G will remain a key focus for the US electronics conglomerate and said its diverse portfolio of products will help them to become a major player in the 5G space.
Swan said, “5G continues to be a strategic priority across Intel, and our team has developed a valuable portfolio of wireless products and intellectual property. We are assessing our options to realize the value we have created, including the opportunities in a wide variety of data-centric platforms and devices in a 5G world."
The company also added that it would meet commitments to customers for its existing 4G smartphone modem product line, though it has no plans to launch 5G smartphone modem products, including those previously set to premiere in 2020
Currently under deployment, ultra-fast 5G wireless networks require terminals that are equipped with 5G models and specific network infrastructure.
Apple and US chipmaker Qualcomm will resume their long-running feud as a new court case between the two titans of American enterprise begins in San Diego next week.
The two companies have been embroiled in a bitter row over patent licensing practices for the best part of two years. Last month, a Californian jury ruled in favour of Qualcomm and awarded the company $31m after it found that Apple’s iPhone 7, 7 Plus, 8 and 8 Plus and X infringed two patents.
Apple has expressed its confidence that this new lawsuit in San Diego will rule in their favour as they seek damages of up to $27bn after accusing its one-time supplier of engaging in patent license practices that amounted to double-dipping.
Qualcomm on the other hand are claiming that the US technology behemoth forced some of it business partners to stop paying the company royalties and is seeking $15bn in damages.
The initial lawsuit was filed by Apple back in 2017, which forced the US chipmaker to counter-sue the iPhone maker and winning bans on the sale of some iPhone models in some markets for patent violations.
Qualcomm charges its customers for the chips themselves and also adds on patent licensing charges. It asks customers to sign an agreement before supplying any products.
Apple has termed this "no licence, no chips" policy a way of charging twice for the same thing. Along with its business partners, Apple is seeking an end to this practice and a refund of something in the region of US$9 billion.
This amount could be tripled if the jury comes to the conclusion that Apple's anti-trust allegations against Qualcomm are correct. Apple claims Qualcomm's practices kept rivals like Intel - from whom Apple is now sourcing chips - from competing in this sector for a long time.
Companies that are on contract with Apple, such as Foxconn, have paid the royalties to Qualcomm and been reimbursed by Apple. But Apple has pushed some of these firms to violate their contracts and deprive Qualcomm of about US$7 billion in royalties, the chip producer claims.
A victory for Apple will not mean much in terms of money but it would destroy a business model that Qualcomm has used with great success for many years.
3 UK has expressed their scepticism over Ofcom’s plans to address poor rural coverage in the United Kingdom, highlighting that the costs of the proposal were too excessive and overall the initiative lacked ambition.
3 UK’s Chief Operating Officer, Graham Baxter has called for the regulator to ditch their plans and work collectively with all UK operators in an effort to find a lasting solution to the ongoing problems experienced by users in rural parts of the UK.
Baxter blasted their plans to remove partial hot-spots in the UK’s countryside, areas which are not covered by any of the country’s four major operators.
As a way to incentivise investment, Ofcom in 2018 said it planned to offer mobile operators a discount in a spectrum auction planned for 2020, if they make binding coverage commitments.
Ofcom said two operators could receive discounts of up to £400 million on the cost of spectrum licences by committing to meet three targets within four years; providing good outdoor data coverage to at least 90 per cent of the UK’s land mass; improve mobile coverage for 140,000 buildings; and install 500 new masts in rural areas.
However, Baxter has criticized the plan for lacking ambition, while also hitting out at the expense incurred by the operator to execute the program.
Instead, he said the regulator should push an initiative for a single rural network, which would see the country’s operators jointly invest in a shared infrastructure.
In addition, he urged authorities to relax planning permission rules for taller mobile masts in rural areas of the country.
In addition to this, Baxter also argued that Ofcom’s plan would only benefit two mobile operators, but conceded that a single network would be beneficial for all four of the country’s operators with regards to coverage.