UK based BPO major; Xchanging Plc would acquire about 75 percent stakes in Cambridge Solutions at 83 million pounds. Cambridge Solutions is a Bangalore-based firm which provides IT and ITES services. Xchanging would pay Rs 3.71 million in cash and issue shares for remaining amount. 

Xchanging Plc is currently acquiring the stake of the majority shareholders in Cambridge. The Economic Times had already disclosed the deal in its July 1, 2008 edition.

In what seems to be a loss for the management team of the famous social networking website ‘Facebook’, its co-founder is planning to move out of the company within a month.

Dustin Moskovitz who founded and popularized the website alongwith his partner and roommate at Harvard University, Mark Zuckerberg, is planning to leave the company. He says he has some new plans in store as have decided to start with a new software business with the company’s engineering manager Justin Rosenstein.

The union government is planning to increase Foreign Direct Investment (FDI) in the Direct to Home (DTH) service. The ministry of information and broadcasting (I&B) recommended 74 percent FDI in DTH service from the existing cap of 49 percent. 

This is informed by additional secretary, Asha Swarup at IDNS conference. The proposed move of government is aimed to bring parity between DTH and telecom services in the country.

Recently, it was announced by Netgear Inc., a networking-equipment maker, that CP Secure Inc., a provider of security solutions would be taken over by them though a deal of $17.5 million. CP Secure Inc, that provides security, basically protects against Internet-originated web and email based malware threat. 

To acquire CP Secure’s assets, Netgear, a California based company will pay $14 mn in cash and if in case CP Secure hits unspecified objectives before the closure of the acquisition, it will be paid additional $3.5 mn. 

The mobile phone unit of Samsung Electronics targets to double its share of the Indian GSM mobile phone market and raise it further to 15% by June-July next year

Yesterday, Samsung Mobile has launched an 8 mega-pixel camera phone, 'Samsung Innov8' in the multimedia phone portfolio. The latest launched gizmo also has GPS connectivity, Wi-Fi and 32 GB memory along with mobile internet and gaming capabilities. The mobile handset is available at a price of Rs 45,999.

A latest forecast put forward by a leading UN agency for information and communication technology issues claims that a relatively great potential is there for growth for telecom companies in India in view of relatively low mobile telephone diffusion rate of about 20% and market liberalization policies.