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India’s Bharat Electronics Limited inks $630M Deal with Israel

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Bharat Electronics Limited
Bharat Electronics Limited

India’s Bharat Electronics Limited have inked a $630 million contract with Israel.

SAN FRANCISCO (Diya TV) — Indian state enterprise Bharat Electronics Limited have inked a $630 million with Israel Aerospace Industries to jointly produce four long-range surface-to-air missile systems for the Indian Navy.

“Yes, a contract was signed May 19 in Bangalore for [LRSAM] systems. However, work share and other commercial details are confidential and cannot be shared,” Bharat Electronics Limited’s marketing director, Anandi Ramalingam, said. “BEL will start delivering the [LRSAM] systems from early 2020, onwards.”

Per the terms of the agreement, Bharat Electronics Limited will produce a major portion of the multifunction active electronically scanned array naval radar system, or MF-STAR, and the rest of the weapon control systems, Ramalingam added.

The Indian company will also be responsible for carrying out system integration and commissioning activities.

In a press release issued Monday, Israel Aerospace Industries announced it was awarded “an additional, $630 million contract for supply of LRSAM air and missile defense systems for four ships of the Indian navy. The contract will be carried out, for the first time, with Indian government company Bharat Electronics Limited (BEL), which serves as the main contractor in the project as part of India’s ‘Make in India’ policy.”

Israel Aerospace Industries president and chief executive Joseph Weiss offered: “The new contract adds to other deals signed in the last decade by IAI with India’s defense forces, reinforcing IAI’s global leadership position in air and missile defense systems. The inclusion of Indian governmental company BEL for the first time, is a step up in our relationship with the Indian industry as part of the ‘Make in India’ policy.”

The LRSAM system is meant for both Indian and Israeli defense forces. Each unit comprises one command and control system, an MF-STAR radar system and two launchers that can send eight 150-kilometer-range radio frequency surface-to-air missiles simultaneously. The system also provides 360-degree coverage.

“Prior to signing the contract, the System was successfully tested last week in India as part of operational interception trial aboard India’s navy ship, demonstrating again the [LRSAM] System’s operational capabilities in a representative scenario with genuine target,” the IAI release read.

During the trial launch, the missile in midair “engaged the target, aligned its course, hit it and destroyed it,” IAI said. “All components of the weapon system have successfully met the goals set to them.”

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FCC Chairman Ajit Pai on diversifying TV station ownership

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WASHINGTON (Diya TV) —    FCC Chairman Ajit Pai says he’s aware the incentive auction nearly wiped out TV stations owned by women & minorities. How he’s addressing the issue, plus the on-going battle over net neutrality, robocalls & his evolution from staffer to Commissioner to Chair on an all-new The Public Interest with Ravi Kapur, Sunday at 9 am & 5pm exclusively on DiyaTV!

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Elon Musk says Tesla plans to be in India by 2020

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SAN FRANCISCO (Diya TV) —   India’s richest man, Mukesh Ambani, just helped his brother Anil out of a major jam, despite their past differences. Anil’s Reliance Communications owed $77 million to Ericsson and he faced jail for non-payment. But in a statement, the company announced the debt was addressed, implying older brother Mukesh had taken care of the bill.

India’s second-richest man, Azim Premji, is making news of own by giving billions to charity in what is thought to be largest donation ever seen in India.

The tech tycoon has now allocated a total of $21 billion to the Azim Premji Foundation.

Tesla CEO Elon Musk tweeted he wants to bring their electric cars to India this year or by 2020. He has blamed tough policies for delaying the carmaker’s entry into India in the past. India is the world’s fourth largest automobile market.

Adding to the pacts they’ve struck over the last three years, India and the United States are close to finalizing a new deal to deepen defense industry collaboration.

And representatives from six social media platforms met with Indian election officials, holding discussions on ways to tackle fake news and authenticate political ads in advance of elections there next month.

Ravi Kapur & Alejandro Quintana contributed to this report.

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Veteran tech executive Raghu Rau named TiVo interim CEO

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Veteran tech executive, Raghu Rau named interim CEO of TiVo

SAN JOSE, Calif. – (Diya TV) Raghu Rau, a veteran executive and board member of TiVo is named interim CEO and President of TiVo Corporation. He replaces Enrique Rodriguez, who resigned only 8 months into his stint as TiVo CEO to become Liberty Systems CTO in Europe. Rodriguez took on the helm at TiVo in November of last year, succeeding longtime President & CEO, Thomas Carson. He previously held executive positions at AT&T, Sirius XM, Microsoft’s Xbox and Cisco Systems.

Rau has served on the TiVo Board since 2015 and brings decades of leadership experience from helming video software vendor SeaChange International. Previously, Rau held multiple senior management positions at Motorola Inc. Since August 2017, he also serves as the Chairman of the Board for Quantum, a storage, archive and data protection vendor.

TiVo shares over the past year have dropped nearly 37% as the TV pioneer tries to adjust direction in the evolving video & media landscape.

Rodriguez will remain a part of TiVo’s board during the transition. In a statement Rodriguez said, “My personal decision to pursue another opportunity was not easy. I couldn’t be more excited about what lies ahead for TiVo as I expect our performance through the second quarter of 2018, including our announced profit improvement actions, to be ahead of our internal plan. I am looking forward to continue my relationship with TiVo in my new role as a customer and partner. Until then, I am committed to working with the TiVo team to ensure a seamless transition.”

Chairman of TiVo’s Board of Directors, James Meyer remarked, “On behalf of the Board, I want to thank Enrique for his leadership and we wish him the best in his next chapter. We are fortunate to have a world-class leadership team in place and are pleased to have someone of Raghu’s caliber step in to lead the Company. He has been a member of the TiVo Board of Directors since 2015 and is a proven leader with extensive experience in the video industry and in the management of intellectual property. I am confident that Raghu, alongside the rest of the leadership team, will continue to drive the value that TiVo’s innovative technology portfolio brings to the fast-growing and hyper-competitive entertainment industry.”

Rau is happy to take on the challenge, saying “this is an exciting time for TiVo and I am eager to jump in as interim President and Chief Executive Officer. I look forward to working closely with our outstanding management team as we continue to innovate, profitably grow our customer base in key market segments, and expand our international presence. I also look forward to working with the Special Committee of the Board to bring our strategic alternatives process to a successful, value creating solution for our shareholders.”

Rovi acquired TiVo for $1.1 billion in 2016 and took on the DVR company’s name.

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