Tech Mahindra and Qatar's Telecom Major Ooredoo Partner for Managed Security Services for B2B Customers

Ooredoo Qatar, Qatar's leading telecommunications operator and ICT provider, has announced a strategic partnership with Tech Mahindra, a global provider of technology consulting and digital solutions. The partnership aims to enhance the Managed Security Services (MSS) Ooredoo provides to its B2B customers.

The collaboration will deliver state-of-the-art cybersecurity solutions to Ooredoo's business customers.

The announcement ceremony featured senior executives from both organizations, including Thani Ali Al Malki, Chief Business Officer at Ooredoo Qatar, Atul Soneja, Chief Operating Officer at Tech Mahindra, and Ram Ramachandran, Sr. Vice President for India, Middle East, and Africa Business at Tech Mahindra.

Tech Mahindra took over Ooredoo's Managed Security Services platform in April 2024, and the partnership has already shown significant success in scaling and managing cybersecurity needs.

Tech Mahindra has been actively collaborating with several telecommunications companies to drive digital transformation and innovation. The  company collaborates with global telecommunications leaders to co-create 5G labs, applications, devices, and ecosystems.

Last year in January, Tech Mahindra and Microsoft have joined hands to bring cloud-powered 5G core network modernization to telecom operators globally.

In March 2022, Tech Mahindra announced a strategic partnership with Bharti Airtel to build and market innovative solutions for India's digital economy.

Zoho Opens First Office in Qatar

Zoho has recently opened its first office in Qatar, located in Doha. This move comes after significant growth in the Qatari market, where Zoho saw a 29% increase in revenue and a 50% expansion in its channel partner network in 2023.

The new office will help Zoho provide customized services, expand its local team, and strengthen its network of IT service providers and resellers.

This expansion reflects the rising demand for Zoho's business applications, such as Zoho One, Zoho Books, Zoho People, Zoho Creator, and Zoho Expense.

The announcement was made during Zoholics Qatar 2024, where Zoho also shared insights from a survey on productivity and collaboration trends among businesses in Qatar.

Zoholics Qatar 2024 was a significant event for Zoho, marking the opening of their first office in Doha. The event featured powerful insights, meaningful connections, and fresh perspectives on productivity and collaboration trends among businesses in Qatar.

Zoho also shared findings from a survey involving 3,301 employees across the Middle East and Africa, including 396 respondents from Qatar. The survey highlighted the challenges and opportunities in workplace collaboration, with a focus on the local business environment.

The event underscored Zoho's commitment to supporting digital transformation in Qatar and the wider region.

Besides India (Chennai), Zoho operates in numerous countries around the world. As of 2021, Zoho has offices in nine countries which includes United States (corporate headquarters in Del Valle, Texas), China, Singapore, Japan, Egypt, Saudi Arabia (Jeddah), South Africa (Cape Town) and now latest in Qatar.

To recall, Zoho is also expanding within home country. To recall, in early of last month, Sridhar Vembu, CEO of Zoho, announced the setting up of a research and development (R&D) facility in eastern Uttar Pradesh by the end of this year.

Zoho's global presence allows it to cater to a diverse range of markets and provide localized support to its customers.

Qatar's Sovereign Fund QIA Invests $1 Bn in Reliance Retail at $100 Bn Valuation

Qatar's sovereign wealth fund, Qatar Investment Authority (QIA), announced on Wednesday that an investment of ₹ 8,278 crore (approx. $1bln) into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited . QIA is making this investment for a minority equity stake of 0.99% in RRVL on a fully-diluted basis.

With this fresh investment from QIA, RRVL values at a pre-money equity value of $100 billion or Rs 8.27 lakh Crore. QIA’s investment comes as the Qatari fund seeks to further invest in India’s fast-growing economy. 

QIA said that investment in Reliance Retail is demonstration of its diversified approach to global investment and confidence in India’s fast-growing economy. India’s growth trajectory and national focus on innovation aligns with QIA’s investment approach to support companies in India with high-growth potential.

Recent investments from QIA in India have included companies in the technology, media and telecoms sector, retail sector, and in green energy investments.

The previous fundraise round by RRVL in 2020 from various global investors of an aggregate amount of ₹ 47,265 crore was done at a pre-money equity value of ₹ 4.21 lakh crore.

In November 2020, Saudi Arabia’s Public Investment Fund (PIF) invested ₹9,555 crore for a little over 2% in RRVL.

To date, Reliance Retail has raised about $7.4 billion in total 7 rounds from Qatar and Saudi's sovereign wealth funds, Abu Dhabi Investment Authority, Singapore's GIC, TPG, General Atlantic, Mubadala and Silver Lake among others.

Ms Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, “We are delighted to welcome QIA as an investor in the Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities."

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”

RRVL, through its subsidiaries and affiliates, operates an integrated omni-channel network of over 18,500 stores and digital commerce platforms across Grocery, Consumer Electronics, Fashion & Lifestyle and Pharma consumption baskets and has partnered with over 3 million merchants through its New Commerce initiative. Reliance Retail Limited, a subsidiary of RRVL, is the only Indian retailer in the global Top 100 and amongst the fastest growing retailers globally as per Deloitte's Global Powers of Retailing 2023.