LabTech to create 100 new Tampa jobs

LabTech Software is expanding in Tampa, creating up to 100 new jobs by 2016, the governors office announced Tuesday.

The Tampa-based IT services firm will receive $100,000 in combined incentives from Hillsborough County and the City of Tampa, plus $400,000 in incentives from the State of Florida over the course of six years, as the company adds jobs with an average minimum wage of $50,000, according to Jennifer Mikosky, spokeswoman for the Tampa Hillsborough Economic Development Corp.

The corporate headquarters positions LabTech will create include software development, sales, client support and marketing. LabTech’s expansion will create $643,750 in capital investment, the release from Gov. Rick Scott’s office said.

“Tampa has become our home and we’re thrilled that our commitment to the growth of the LabTech product and our commitment to the local economy can go hand-in-hand,” Matt Nachtrab, CEO, LabTech Software, said in the statement.

LabTech employs more than 350 people worldwide, most at its Tampa location on George Road.

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EBay to split off lucrative PayPal business

EBay is splitting off its fastest growing segment, mobile payment service PayPal, the e-commerce company said Tuesday. Investors applauded the news, sending eBay’s shares up nearly 7 percent in morning trading.

The move comes after months of pressure from activist investor and billionaire Carl Icahn. EBay CEO John Donahoe had been adamant that splitting off PayPal was the wrong move for the company. But Tuesday, the company said that making the mobile payment service a separate publicly traded company next year “maximizes strategic focus and flexibility for eBay.”

Although it has not become mainstream yet, the mobile payment sector is growing quickly. Citi Investment Research analyst Mark May said in a note last month that the sum total of mobile payments could grow from $1 billion in 2013 to $58.4 billion by 2017. Apple threw down a gauntlet in September with its own digital wallet Apple Pay, seen as a major competitor to PayPal.

Donahoe also said he will step down as CEO of eBay after overseeing the separation of the two companies and will not have a management role in either of the two afterward. He may have a seat on the board at one or both, along with eBay Chief Financial Officer Bob Swan.

Dan Schulman, an executive at American Express, will be the new president at PayPal, effective immediately. The 56-year-old will become PayPal’s CEO once the separation takes place.

Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new EBay Inc. He will lead the eBay Marketplaces and eBay Enterprise businesses.

Cowen and Co. analyst John Blackledge said the spinoff “makes a great deal of sense,” because there is “manageable overlap” between the two businesses and the new structure makes PayPal “more nimble” to respond to challenges like Apple Pay.

EBay, based in San Jose, California, said that the separation was the best path for growth and shareholder value creation for each business.

EBay is an e-commerce site that connects sellers to buyers. PayPal, acquired by eBay in 2002 for $1.3 billion, has been its fastest-growing segment.

In the most recent quarter, PayPal gained 4 million new, active registered accounts, up 15 percent, to 152 million. Payments revenue rose 20 percent to $1.95 billion, about 45 percent of eBay’s total revenue.

PayPal users can send and receive payments online, with all transactions backed by prepaid user accounts, bank accounts or credit cards. The service is available in 203 markets worldwide and is on track to process 1 billion mobile payments in 2014.

There is a push away from traditional credit cards, particularly after a string of high-profile data breaches that have ensnared major retailers like Target and Home Depot.

Citibank predicts that the mobile payments business will grow from $1 billion last year, to nearly $60 billion by 2017.

“A thorough strategic review with our board shows that keeping eBay and PayPal together beyond 2015 clearly becomes less advantageous to each business strategically and competitively,” Donahoe said.

PayPal has been expanding beyond mobile payments and offering other financial services. It began lending money to small business customers late last year. And eBay bought Braintree, a payment processor used by startups such as vacation rentals site Airbnb and cab-hailing app Uber, a year ago for about $800 million and will be part of the PayPal.

Shares of eBay jumped nearly 7 percent to $56.16 in morning trading.

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Chennai start-up Nysym launches OPtacus – a cloud based solution for optical showrooms

Nysym, a product startup company based out of Chennai has developed OPtacus, a cloud based product solution for optical showrooms. oPtacus provides all the integrated solution related to billing systems, inventory management systems, store management and sales.
oPtacus is a result of research done at two different levels, one at a larger market level to underscore the advantages of cloud applications, and two at a focused market level to understand what exactly the target market needs.

Speaking about the product, Mr. Lakshman, Founder, Nysym says “oPtacus was born out of a thorough understanding of the optical industry and is perfectly aligned to the workflow of the optical industry. The architecture has been carefully designed to ensure it caters to the target market, and is also scalable to a larger global market. Migration has also been meticulously planned to ensure users can manage the entire process online with little or no help.”

He further added “A cloud based solution provides some key features like a subscription model which users can unsubscribe from at any time, no infrastructure is needed except for a stable internet connection, hassle free sign up, access to all upgrades for the subscription period, etc. Since oPtacus is also compatible to tablets and mobiles, it gives users the liberty to basically manage their establishments on the run too. These, in our opinion, provide the perfect platform for retailers to migrate to more exciting technologies to make themselves more competitive.”

As a launch offer, oPtacus will be available for free subscription for a period of two weeks till mid July.

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Contact
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Mr. Lakshman | Nysym
e: support@nysym.com
http://www.nysym.com/

Global Acquisitions A Major Celebration For Tech Start-Ups

A number of young, companies still raising funds from venture capital investors are acquiring smaller firms to plug gaps in their businesses and ramp up fast, rather than build these from scratch. Among them the technology start-ups in the country rejoice at the acquisition of a young software firm report Business Standard. For instance ThinkPad, acquired by internet giant Yahoo earlier this week, two other Indian start-ups have gone ahead and made global buyouts, reflecting a maturity setting into the system.

Recently even the Delhi-based website performance testing start-up Wingify had acquired U.S.-based Concept Feedback, a community platform of user experience experts, for an undisclosed amount. The size of the two acquisitions is not known, and would perhaps be much smaller than the average in the technology segment.

“In the internet and software industry, the winner takes it all. So, it is vitally important for companies to focus on category leadership. Both these acquisitions are in some sense targeted at becoming the number one in the chosen category and that is a very good sign,” said Sharad Sharma, co-founder of software product think tank iSpirt. “I think these two acquisitions are a sign of a trend, where several players in narrow categories will look at becoming leaders in their chosen space, either through acquisitions or by building capacities organically.”

Both acquisitions are said to be aimed at strengthening the offerings of the Indian companies. Wingify’s acquisition, Concept Feedback, gives brands access to 26,000 website design experts, to receive recommendations on how to improve website elements to more efficiently achieve online business goals.

While the two acquisitions do bode well for young entrepreneurs in India, according to Yugal Joshi a practice director at Everest Group, the Indian start-up system is highly fragmented. So, acquisitions by a few entities might not necessarily reflect the maturity of an entire system.  “What this (acquisitions) certainly signifies is their (start-ups’) growing appetite and stature globally,” he said. “Also, that these start-ups have confidence in their abilities to raise the needed funds to finance this acquisition. This stems from the fact that they and their investors realize the fundamental strength in the business models of these start-ups.”

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The Latest Software Testing News department was not involved in the creation of this content.

 

Startups And Very Small Businesses -Eager For Mobile Technology, But Lack Resources To Ensure Security

Very small businesses (VSBs) with fewer than 25 employees have the same rate of mobile device adoption as large enterprises. However, most VSBs lack the security awareness, technical expertise, and budget needed to properly protect company-issued or employee-owned (BYOD) mobile devices.

Mobile Adoption Surge in Very Small Businesses

A Kaspersky Lab survey asked 3,900IT professionals worldwide about IT challenges they encountered over the previous 12 months, and 34 percent of VSBs said they had managed the integration of mobile devices into their business. What’s noteworthy is this rate is nearly identical to the rate of mobile integration reported by enterprises, which was 35 percent.

This means the smallest companies in the world are adopting mobile technology at essentially the same rate as huge companies with more than 5,000 employees. In fact, VSBs actually reported a higher rate of mobile adoption than small businesses with 26-99 employees, as well as large businesses with 1,500-5,000 employees.

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Indian startups acquire global players reflecting maturity in ecosystem

While the technology startup ecosystem in the country is rejoicing the of a young software firm by internet giant earlier this week, two Indian startups have gone ahead and made global buyouts, reflecting a sense of maturity setting into the ecosystem.

Delhi-based website performance testing startup on Wednesday said it has acquired US-based Concept Feedback, a community platform of user experience experts, for an undisclosed amount. The announcement came just a day after announced its acquisition of Poland’s Gastronauci.

Even as the size of the two acquisitions is not yet known, and would perhaps be much smaller than the average acquisition size in the technology space, experts believe that such announcements bode well for the ecosystem as they reflect an advancement in the evolution of India’s startup ecosystem.

“In the internet and software industry, the winner takes it all, and so it is vitally important for companies to focus on category leadership. Both these acquisitions are in some sense targeted at becoming the number one in the chosen category, and that is a very good sign,” said Sharad Sharma, co-founder of software product think tank iSpirt. “I think these two acquisitions are a sign of a trend going forward where several players in narrow categories will look at becoming leaders in their chosen space, either through acquisitions or by building capacities organically.”

Both the acquisitions are aimed at strengthening the offerings of the Indian companies.

Wingify’s acquisition, gives brands access to over 26,000 website design experts, and to receive recommendations on how to improve website elements to more efficiently achieve online business goals. Under the acquisition, Concept Feedback’s offering will be gradually integrated with Wingify’s Visual Website Optimizer (VWO), a testing solution used for marketers.

On the other hand, the Polish restaurant search service, Gastronauci, will help Zomato in its ambition to enter multiple geographies, as expansion in the Europe has been one of Zomato’s key focus areas. This is Zomato’s fourth acquisition in three months, as the company earlier bought New Zealand-based MenuMania, Czech-based Lunchtime and Slovakia-based Obedovat restaurant search guides.

While the two acquisitions do bode well for young entrepreneurs in India, Yugal Joshi a practice director at Everest Group said, the Indian startup ecosystem is highly fragmented, and therefore acquisitions by a few players might not necessarily reflect the maturity of an entire ecosystem.

“What this (acquisitions) certainly signifies is their (startup’s) growing appetite and stature globally,” Joshi said. “Moreover, it also indicates that these have confidence in their abilities to raise the needed funds to finance this acquisition. This confidence stems from the fact that they and their investors realise the fundamental strength in the business models of these start-ups.”

For more details, click here.

The Latest Software Testing News department was not involved in the creation of this content.

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