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“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

27 Sep 2016


1)   Movidius has been acquired by which tech major in September 2016?
a. Microsoft
b. Intel
c. IBM
d. HCL

To play a leading role in providing human like sight to 50 billion connected devices projected by 2020, Intel has acquired San Mateo based Movidius.
·         With this acquisition, Intel gains low power, high performance System on a Chip platform for acceleration of computer vision applications
·         It is working with customers like Google and Lenovo to provide sight to smart devices including AR or VR headsets.
·         Their Vision Processing Unit platform for on device vision processing combined with Intel Industry's Intel Real Sense Technology is a winning combination for autonomous machines seen in 3D
·         Computer vision enables the machine to visually process and understand surroundings
·         Using integration computer vision enables navigation, mapping, collision avoidance, tracking, object recognition inspection analytics and more
·         Ability to track, navigate, map and recognise both scenes and objects using Movidius low power and top performance SOCs opens chances in areas where heat, form factors and battery life are the key

2)   Apollo Global Management LLC has agreed to acquire which cloud services provider?
a. Rackspace
b. DigiSpace
c. TechnoSpace
d. None of the above
ANSWER: Rackspace
Cloud services provider Rackspace Hosting Inc said it would be acquired by Apollo Global Management LLC in a deal valued at USD 4.3 billion. The PE firm will boost investments in the technology sector.
·         Rackspace’s shares went up 4.3 percent at USD 31.50 in early trading on 25th August.
·         Offer represents a premium of 38.2 percent to Backspace’s closing price on August 3, the day prior to reports that the company was in advanced talks with PE firms for a go private deal.
·         Rackspace had been reported to earlier be in talks with Apollo
·         As part of the deal closing in the 4th quarter, PE firm Searchlight Capital Partners will also make an investment in Backspace
·         Apollo with USD 186 billion in assets have been stepping up investments in technology
·         Affiliates of the firm in July agreed to acquire Outerwall Inc, the owner of Redox video rental kiosks private in a deal valued at USD 1.6 billion
·         Rackspace leases server space and helps corporations store and access data in cloud.
·         It has focused on growing its cloud business in the face of rising competition from established players such as IBM Corp, Microsoft and startups in the field
·         Citigroup, Deutsche Bank, RBC Capital Markets LLC and Barclays were financial advisors while Goldman Sachs and Co advised Backspace.
·         Financing for the deal is being provided by CItigroup, Deutsch Bank, Barclays, Royal Bank of Canada are providing financing for the deal
·         Paul, Weiss Rifkind and Wharton & Garrison LLP are legal advisers to Apollo while Wilson Sonsini Goodrich & Rosati is Rackspace’s Legal Adviser.

3)   Which cellular services telecom company announced the Mobile for Good Awards 2016 in partnership with NASSCOM foundation?
a. Vodafone Foundation
b. Airtel Foundation
c. Idea Foundation
d. None of the above
ANSWER: Vodafone Foundation
Vodafone Foundation announced the launch of the sixth edition of the Mobile for Good Awards 2016 in partnership with NASSCOM Foundation.
·         Award will recognise and support emerging and innovative mobile solutions from NGOs and for profit enterprises.
·         Government departments that facilitate community empowerment and transform the economy to bring about inclusive growth will also be included.
·         Mobile for Good Awards has evolved as a platform to acknowledge social innovations through mobile and wireless technologies that have created an impact on critical areas of health, governance, agriculture and education.
·         There will be a total grant of INR 90 lakhs for winning non profits in addition to structured mentoring, monitoring and impact assessment from partner institutions.
·         All winning projects will be featured in the Social App Hub a unique platform for social apps.

4)   For how many central government services, the government has launched a single window e-Biz portal to bring transparency and ease of doing business in the country on 19th Feb’15?
a. 3
b. 7
c. 11
d. 18
The portal will provide four services from Ministry of Corporate Affairs, two services of Central Board of Direct Taxes, two services of Reserve Bank of India and one service each from Directorate General of Foreign Trade, Employees Provident Fund Organization and Petroleum and explosives Safety Organization. A business user can avail the service any time from now onwards.

5)   Tax department has notified rules for the FMV of listed companies on basis of a formula. What does the formula include for listed companies?
a. Market cap
b. Book value of liabilities
c. Total number of shares
d. All of the above
ANSWER: All of the above
Tax department has notified rules for calculating fair market value or FMV of assets of listed companies to be computed on the basis of formula that takes market cap, book value of liabilities and total number of shares into account in case of listed companies.
·         In the case of unlisted companies, FMV is determined by a merchant banker or accountant as per internationally accepted valuation methodology.
·         As shares are listed on more than one recognised stock exchange, the price would be computed with reference to the recognised stock exchange which records highest volume of trading in shares during the period considered for determining the price.
·         As per the IT act, if any share or interest in a foreign company or entity gets its value from assets mostly located in India, the such share or interest is said to be situated in India.
·         Any income arising from transfer of share or interest is deemed to accrue or arise in India.
·         Share or interest is said to derive its value considerably from assets located in India, if FMV of assets in India is comprising 50 percent of the FMV of total assets of the company or entity
·         Any share or interest is to derived from India if FMV of asset is more than INR 10 crore

6)   Chinese e-commerce giant Alibaba Group has agreed to buy which Honk Kong based newspaper?
a. South China Post
b. North China Post
c. South China Morning Post
d. None of the above
ANSWER: South China Morning Post
Chinese e-commerce major Alibaba Group has agreed to purchase Hong Kong English language newspaper group, South China Morning Post. Agreement includes SCMP Group’s other media assets such as licenses to Hong Kong edition of Harper’s Bazaar and Elle. Deal is sure to raise concerns in Hong Kong where the SCMP occupies an important position in the media.

7)   Which company is merging its wireless business with Aircel to form the fourth largest telecom operator in the country?
a. Reliance Communications
b. Tata Communications
d. Vodafone
ANSWER: Reliance Communications
Anil Ambani’s Reliance Communication and Maxis Communications Berhad/MCB promoters of Aircel on 14th September 2016 agreed to merge their wireless business.
·         They will form the fourth largest telecom operator in the country
·         Merger is termed the biggest consolidation deal in Indian telecom sector
·         R-Com will demerge its wireless business and transfer it to the new entity
·         Standlone business will focus on enterprise segment and data centre businesses
·         Sistema will hold 10 percent in standalone R-Com
·         Both R-Com and Maxis will hold 50 percent each in the new entity
·         Merged company will be one of India’s largest private sector companies with an asset base of INR 65,000 crore rupees and net worth of INR 35000 crore rupees
·         Entity will enjoy benefits of scale driving revenue growth and capex as well as open synergies with net present value of INR 20,000 crore rupees
·         Company will be managed by an independent professional team under the board’s supervision
·         Following completion of the merger in 2017, R-Com’s overall debt will reduce by INR 20000 or over 40 percent of its debt
·         Aircel’s debt will reduce by INR 4000 crore
·         Entity will have the second largest spectrum holding among all operators, aggregating 448 Mhz across 850, 900, 1800 and 2100 MHz bands
·         It will benefit from enhanced business continuity through an extended validity of spectrum holdings till 2033-2035

8)   HP Inc agreed to buy the printer business of which well known company?
a. Xerox
b. Samsung
c. Canon
d. None of the above
ANSWER: Samsung
American tech company HP Inc has agreed to purchase Samsung’s Printer Business for USD 1.05 billion to disrupt the USD 55 billion photocopying industry.
·         HP will acquire 6500 patents pertaining to printing and Samsung’s team of 1500 researchers and engineers
·         Deal is the first major move since it split into Hewlett Packard and HP Inc
·         The printer business will permit the company to take control of lucrative professional and office printing market
·         HP is the market leader in desktop printing
·         It also announced 16 new multifunction printers for the A3 printer-copier market.
·         HP’s move to buy Samsung’s printer business also sees it pick up the firm’s printing engines, something it previously relied on external suppliers for.
·         The A3 market is currently dominated by Xerox and Canon.

9)   Which exchange has decided to sell its shares along with top shareholders such as Atticus Mauritius?
a. LSE
b. Singapore Stock Exchange
c. Nikkei
ANSWER: Singapore Stock Exchange
Singapore Exchange along with top BSE shareholders Caldwell India Holdings Inc, Acacia Banyan Partners and GKFF Ventures will sell BSE shares in forthcoming IPO of the exchange.
·         While Singapore Exchange, Quantum M Limited and Atticus Mauritius Ltd will sell their entire stake in the bourse, other entities would partly dilute their holdings
·         Singapore Exchange holds a 4.7 percent stake in BSE while Quantum M Ltd and Atticus Mauritius have 3.7 percent stake each
·         Domestic institutional investors like LIC and SBI have chosen not to sell shares as part of the public issue
·         Both entities hold 4.7 percent in BSE
·         BSE is the oldest stock exchange in Asia
·         It was established in 1875
·         Public issue comprises INR 2.99 crores shares on offer.
·         Exchange becomes the second in India to be listed after Multi Commodity Exchange of India
·         For the financial year closing 31st March 2016, BSE reported a net profit of INR 159.15 crore
·         Its biggest rival is the National Stock Exchange which has also initiated the process to get listed

10)   Google is acquiring which software developer in a deal valued at USD 625 million?
a. Apigee
b. Apogee
c. Apolgee
d. None of the above
ANSWER: Apigee
Alphabet’s Google is purchasing software developer Apigee in a deal valued at USD 625 million as it strengthens the cloud business.
·         San Jose’s Apigee software helps a company’s backend services interact with mobile and web based apps used by customers and partners
·         Companies are moving beyond traditional ways of communicating like phone calls and visits and instead are communicating programmatically through API or Application Programming Interface according to Dianne Greene who runs Google’s cloud computing division
·         Google will pay Apigee shareholders USD 17.40 for each share held, a 6.5 percent premium to latest closing values of the stock
·         Company’s customers include AT&T, Burberry Group Pic, Vodafone Group Pic and World Bank went public in April 2015
·         Apigee deal comes after Google and online storage company Box Inc said they would partner to enable corporate customers to integrate Google’s suite of word processing, spreadsheets and other productivity tools known as Google Docs.
·         Companies including Google, Amazon com, Microsoft Corp and IBM Corp are competing for a share in the rapidly growing cloud computing business

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