It’s a wrap: News this week (May 25 — May 31)

There have been multiple developments this week on the tech front. From deals of the week to PwC-OpenAI partnership, this is the list of the most important developments for a quick catch-up:

OpenAI’s biggest enterprise partner

Big Four accounting firm, PwC has now become the largest enterprise customer of ChatGPT-maker OpenAI. In an announcement made on Wednesday, PwC signed a deal with the AI company to become its first resale partner. As part of the announcement, the company’s US and UK firms have signed an agreement with OpenAI. The financial details of the agreement have not been revealed. PwC said that this deal will allow its US and UK employees and clients gain access to latest tools from OpenAI, including the latest GPT-4o. 

Deals of the week

Digital transformation solutions provider Magellanic Cloud has announced the completion of the acquisition of its wholly-owned subsidiary iVIS International India. Under the deal, iVIS will be directly integrated into Magellanic Cloud’s company structure. It is expected to strengthen the latter’s growth and its position in the surveillance and ITeS sector. 

Further, ServiceNow has announced a strategic announcement in the global IT company inMorphis through its ServiceNow Ecosystem Ventures Program. It is expected to support inMorphis’ go-to-market capabilities with a deep focus on India and ASEAN markets through inorganic initiatives, strategic tuck-ins, to expand capabilities and footprint in select industries and market; it will also enhance inMorphis’ proficiency in generative AI-enabled technologies. 

Infosys partners with German lender

IT services major Infosys announced on Tuesday that it has collaborated with German-based lender, Commerzbank, and Murex, which provides trading, risk management and processing solutions for capital markets, to digitally transform the bank’s business processes and IT landscape, primarily its trading ecosystem.

The company in a statement said the joint project has enabled Commerzbank to consolidate FX, FX derivatives, equity, and commodities onto Murex’s integrated MX.3 platform. Post its implementation, operations are simplified, cutting costs, and speeding up time to market.

IIT Bombay-TCS’ quantum-based project

IT services provider Tata Consultancy Services (TCS) announced a strategic partnership with the Indian Institute of Technology, Bombay (IIT-Bombay) on Tuesday to develop India's first Quantum Diamond Microchip Imager.

A quantum diamond microchip imager can image magnetic fields, allowing for non-invasive and non-destructive mapping of semiconductor chips, similar to a magnetic resonance imaging (MRI) at a hospital. This technology is crucial due to the challenges posed by traditional sensing methods in detecting anomalies caused by the shrinking size of semiconductors.