It’s a wrap: News this week (Aug 9—15)

There have been multiple developments this week on the tech front. From Infosys’ acquisition to RBI’s AI framework, here is a list of the most important updates for a quick catch-up:

Infosys to buy 75% stake in Telstra unit for $153 million

IT services firm Infosys has acquired a 75% stake in Versent Group, a wholly owned subsidiary of Telstra Group, to form a joint venture aimed at accelerating AI-led cloud and digital transformation for Australian enterprises.

Telstra will retain the remaining 25% stake, while Infosys will have operational control of the Melbourne-headquartered firm. The deal is valued at AUD 233.25 million (over Rs 1,300 crore), including upfront and deferred consideration, excluding management incentives, and retention bonuses. The JV will combine Telstra’s connectivity, Versent’s local digital engineering expertise, and Infosys’ global scale in AI and cloud. 

Infosys on Monday also said it has helped ABN AMRO Bank, one of the largest banks in the Netherlands, migrate its lending process and related operations to the cloud. The company said it has implemented the next phase of the nCino platform – a cloud-based platform designed for banks and financial services – for the Dutch bank. 

RBI launches FREE-AI

The Reserve Bank of India (RBI) has introduced the Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI), aimed at guiding the adoption of AI in the financial sector while balancing innovation with risk mitigation. Developed by a committee chaired by Prof. Pushpak Bhattacharyya of IIT Bombay, with members from NITI Aayog, MeitY, banks, fintechs, and technology firms, the framework was unveiled in August 2025.

It rests on seven guiding steps — trust, people-first, innovation over restraint, fairness, accountability, explainability, and safety. The committee has made 26 recommendations grouped into six pillars: infrastructure, policy, and capacity (to drive innovation) and governance, protection, and assurance (to manage risks). 

Fractal Analytics files for ₹4,900-Cr IPO

Fractal Analytics, an artificial intelligence-driven analytics company, on Wednesday said it has filed preliminary papers with the markets regulator, Securities and Exchange Board of India (SEBI), seeking its approval to raise ₹4,900 crore through an initial public offering (IPO).

With a team of more than 5,000 professionals worldwide, out of which about 4,600 are based in India, the company is planning to expand its Artificial Intelligence (AI) offerings with a focus on agentic AI-led innovation.

ZS, InMobi, IBM launch new centres

Global management and consulting firm ZS has announced the launch of its new office in Hyderabad. This is part of the firm’s strategy in delivering greater capacity and end-to-end global capability center (GCC) offerings to clients. 

The facility is spread across 50,000 sq ft and will house up to 600 people. The center will continue to offer a range of flexible engagement models, including packaged offerings built for GCCs, embedded functional expertise, and fully managed GCC-as-a-service models.

Further, mobile ads platform InMobi has announced the launch of a new technology centre in Lucknow. Through this centre, the company will be able to tap into the city’s growing talent pool. InMobi also said it will help in decentralising innovation beyond metropolitan cities and strengthen global leadership in AI and deep tech.

The Lucknow tech centre will play a critical role in advancing innovations in cutting-edge technologies, including Generative AI, Machine Learning Operations (MLOps), automation, and the development of large-scale AI infrastructure. 

IBM, too, has opened its new India Client Experience Centre in Mumbai to support Indian enterprises in adopting AI, hybrid cloud, and quantum computing. As part of this initiative, IBM has signed a Letter of Intent with the Government of Maharashtra to explore opportunities for supporting the state's quantum initiatives, potentially through expertise, knowledge sharing, and skills development programs.

CtrlS opens data center in Kolkata, announces new investment

Hyderabad-headquartered data center provider CtrlS Datacenters, on Thursday, announced the launch of its first greenfield facility in Kolkata. The new centre marks a significant step in strengthening digital infrastructure in eastern India. 

Situated at Bengal Silicon Valley in New Town, the site is the region’s first Rated-4 data center and the first development under the company’s ₹2,200 crore plan to build an advanced data center ecosystem in the east.

Xpedeon to drive digital transformation at Inderjit Mehta Constructions

Xpedeon, a provider of ERP solutions for the construction and infrastructure sector, has been selected as the digital transformation partner for Inderjit Mehta Constructions Pvt. Ltd. (IJMCPL), an infrastructure construction services company. The move will see Xpedeon’s ERP platform implemented nationwide, integrating IJMCPL’s operations and enabling real-time control across public and private sector construction projects.

Headquartered in Gurugram, IJMCPL is a key Government contractor with over 40 years of experience in delivering large-scale civil infrastructure. The company has completed more than 50 major projects, including highways, residential developments, defence infrastructure, sports facilities, and oil and gas pipelines. Its portfolio also includes over 525 km of steel pipeline networks, supported by a workforce of more than 3,000 employees.

TCS, Now Corporation partner

Tata Consultancy Services (TCS) has signed a Memorandum of Understanding (MoU) with Now Corporation’s telecommunications unit, Now Telecom, to strengthen the Philippines’ digital infrastructure and promote financial inclusivity.

Under the agreement, TCS will provide technology and expertise to expand secure national networks, develop a sovereign data cloud, and deliver cybersecurity solutions. The project aims to support citizen-focused services and ensure local control over sensitive data. Both TCS and Now Telecom are part of the Trusted Network Alliance under the Trusted Network Initiative, which promotes secure telecommunications globally.