Digi Times — Foxconn Electronics (Hon Hai Precision Industry) on May 26 announced that its Singapore-based subsidiary Foxconn Singapore Pte. and strategic investors will jointly acquire a 100% stake in Smart Technologies, a Canada-based developer of smart interactive display solutions for educational and business use, at US$4.50 per share. Foxconn Singapore will hold a 66.67% stake.
Market Wired — The Prime Minister, Justin Trudeau, today announced $14.25 million in funding to strengthen infrastructure development in Indonesia, in order to promote sustainable economic growth and reduce poverty in the country. Canada is partnering with the World Bank, through the Accelerating Sustainable Public-Private Investments for Infrastructure Renewal (ASPIRE) project, to assist Indonesia in preparing the legal and regulatory groundwork required for critical public-private partnership (P3) infrastructure projects.
India Times — NEW DELHI: Canada-based cloud computing startup PerfectCloud is planning to set up support office in India within three months to cater clients in Asia Pacific, Middle East and Africa market region. “PerfectCloud already has development office in Noida. We are in process of setting up support office here within three months. It will cater to our clients in Asia Pacific, Middle East and Africa market,” PerfectCloud CEO and founder Mayukh Gon told PTI.
Canada is the latest country to seek lucrative contracts advising Indian states on how to build new smart cities. This week, Canadian diplomats have been courting the states of Telangana and Andhra Pradesh, hoping to win deals similar to those given to Singapore, the USA and Germany. Indian Prime Minister Modi announced last year that his country would build 100 new smart cities, reliant on cutting-edge connectivity, to transform municipal government across the nation.