Amber Group to Acquire Majority Stake in Power-One Micro Systems
Amber Group
, a homegrown contract manufacturer for HVAC and consumer electronics, has entered into definitive agreements for acquiring majority stake in Bengaluru-based
Power-One Micro Systems
-based Power-One Micro Systems.
Power-One is a manufacturer of
solar inverters
,
uninterruptible power supplies
(UPS),
Battery Energy Storage Systems
(BESS),
EV chargers
and other power and energy solutions.
"The transaction will enable the Amber group to foray into a rapidly growing segment of energy solutions including Solar inverter (on grid, off grid and hybrid), BESS, UPS, solar power plants and EV chargers and augment the Industrial segment of the Electronics Division of the Company," the company said.
ILJIN Electronics India, a subsidiary of Amber Group, has entered into definitive agreements for taking a majority stake in PowerOne Micro Systems, which had a turnover of Rs 184.87 crore in FY'24. This deal will be on a "cash consideration." On valuation, Amber group said: "The acquisition of majority stake in the equity share capital of Power-One will be done at a mutually agreed value and will be disclosed separately post-closing."
"This transaction will provide a strong foothold for Amber's Electronic Division into the rapidly growing sector for Battery Energy Storage Systems (BESS), EV chargers, UPS and Solar inverter (on grid, off grid and hybrid) market," said Jasbir Singh, executive chairman and CEO of Amber Group.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
18 minutes ago
- New Indian Express
Travel to cost more from July as list of fares on AC, non-AC coaches out
NEW DELHI: The Ministry of Railways has rationalised the basic fares for passenger train services, effective from July 1 this year. The changes apply to AC and non-AC reserved classes of mail and express trains. In an official circular issued on Monday, the Railways detailed the fare revisions, stating that non-AC class fares in mail and express trains have been increased by 1 paisa per kilometre, while all AC classes have seen a hike of 2 paisa per kilometre. Suburban trains and monthly season tickets (MST) have been exempted from the fare increase, citing the broader interest of daily commuters. There has been no change in the fare for ordinary second class travel up to 500 km. However, beyond this distance, a modest increase of half a paisa per kilometre has been implemented. Ordinary sleeper class and first-class passengers will also incur an extra charge of half a paisa per kilometre from July 1. 'No increase up to 500km but an increase by Rs 5 for distance 5,012 to 1,500 kms and an increase in fare by Rs 10 for distance 1,501 to 2,500 km have been made', remarked the government circular. The circular also stated that for journeys exceeding 2,501 to 3,000 km, there is an increase of Rs 15 in fare, in addition to a 0.5 paisa per kilometre rise in sleeper class charges. For AC chair car, AC-3 tier or 3-Economy, AC 2-tier, and AC First/Executive Class (Anubhuti), the fare has been increased by 2 paisa per kilometre. 'The fair revision also applies to premier and special trains services like Rajdhani, Shatabadi, Duranto, Vande Bharat, Tejas- Rajdhani, Humsafar, Amrit Bharat, Mahamana, Gatimaan, Antyodaya, Jan -Shatabadi, Yuva Express, AC Vistadome coaches, Anubhuti coaches, and ordinary non-suburban services in accordance with revised class-wise fare structure,' a senior railway official said. The ministry has clarified that there will be no increase in reservation charges, super fast surcharges, or other additional charges. 'The GST will continue to be levied as per applicable', the circular read. The Ministry of Railway said that tickets issued prior to July 1 will remain valid at the existing fare, with no fare adjustment.'
&w=3840&q=100)
Business Standard
25 minutes ago
- Business Standard
Apple considers using Anthropic or OpenAI to power Siri in major shift
Apple Inc. is considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort. The iPhone maker has talked with both companies about using their large language models for Siri, according to people familiar with the discussions. It has asked them to train versions of their models that could run on Apple's cloud infrastructure for testing, said the people, who asked not to be identified discussing private deliberations. If Apple ultimately moves forward, it would represent a monumental reversal. The company currently powers most of its AI features with homegrown technology that it calls Apple Foundation Models and had been planning a new version of its voice assistant that runs on that technology for 2026. Apple's investigation into third-party models is at an early stage, and the company hasn't made a final decision on using them, the people said. A competing project internally dubbed LLM Siri that uses in-house models remains in active development. Making a change — which is under discussion for next year — could allow Cupertino, California-based Apple to offer Siri features on par with AI assistants on Android phones, helping the company shed its reputation as an AI laggard. Representatives for Apple, Anthropic and OpenAI declined to comment. Shares of Apple closed up over 2 per cent after Bloomberg reported on the deliberations. Siri Struggles The project to evaluate external models was started by Siri chief Mike Rockwell and software engineering head Craig Federighi. They were given oversight of Siri after the duties were removed from the command of John Giannandrea, the company's AI chief. He was sidelined in the wake of a tepid response to Apple Intelligence and Siri feature delays. Rockwell, who previously launched the Vision Pro headset, assumed the Siri engineering role in March. After taking over, he instructed his new group to assess whether Siri would do a better job handling queries using Apple's AI models or third-party technology, including Claude, ChatGPT and Alphabet Inc.'s Google Gemini. After multiple rounds of testing, Rockwell and other executives concluded that Anthropic's technology is most promising for Siri's needs, the people said. That led Adrian Perica, the company's vice president of corporate development, to start discussions with Anthropic about using Claude, the people said. The Siri assistant — originally released in 2011 — has fallen behind popular AI chatbots, and Apple's attempts to upgrade the software have been stymied by engineering snags and delays. A year ago, Apple unveiled new Siri capabilities, including ones that would let it tap into users' personal data and analyze on-screen content to better fulfill queries. The company also demonstrated technology that would let Siri more precisely control apps and features across Apple devices. The enhancements were far from ready. Apple initially announced plans for an early 2025 release but ultimately delayed the launch indefinitely. They are now planned for next spring, Bloomberg News has reported. AI Uncertainty People with knowledge of Apple's AI team say it is operating with a high degree of uncertainty and a lack of clarity, with executives still poring over a number of possible directions. Apple has already approved a multibillion dollar budget for 2026 for running its own models via the cloud but its plans for beyond that remain murky. Still, Federighi, Rockwell and other executives have grown increasingly open to the idea that embracing outside technology is the key to a near-term turnaround. They don't see the need for Apple to rely on its own models — which they currently consider inferior — when it can partner with third parties instead, according to the people. Licensing third-party AI would mirror an approach taken by Samsung Electronics Co. While the company brands its features under the Galaxy AI umbrella, many of its features are actually based on Gemini. Anthropic, for its part, is already used by Inc. to help power the new Alexa+. In the future, if its own technology improves, the executives believe Apple should have ownership of AI models given their increasing importance to how products operate. The company is working on a series of projects, including a tabletop robot and glasses that will make heavy use of AI. Apple has also recently considered acquiring Perplexity in order to help bolster its AI work, Bloomberg has reported. It also briefly held discussions with Thinking Machines Lab, the AI startup founded by former OpenAI Chief Technology Officer Mira Murati. Souring Morale Apple's models are developed by a roughly 100-person team run by Ruoming Pang, an Apple distinguished engineer who joined from Google in 2021 to lead this work. He reports to Daphne Luong, a senior director in charge of AI research. Luong is one of Giannandrea's top lieutenants, and the foundation models team is one of the few significant AI groups still reporting to Giannandrea. Even in that area, Federighi and Rockwell have taken a larger role. Regardless of the path it takes, the proposed shift has weighed on the team, which has some of the AI industry's most in-demand talent. Some members have signaled internally that they are unhappy that the company is considering technology from a third-party, creating the perception that they are to blame, at least partially, for the company's AI shortcomings. They've said that they could leave for multimillion-dollar packages being floated by Meta Platforms Inc. and OpenAI. Meta, the owner of Facebook and Instagram, has been offering some engineers annual pay packages between $10 million and $40 million — or even more — to join its new Superintelligence Labs group, according to people with knowledge of the matter. Apple is known, in many cases, to pay its AI engineers half — or even less — than what they can get on the open market. One of Apple's most senior large language model researchers, Tom Gunter, left last week. He had worked at Apple for about eight years, and some colleagues see him as difficult to replace given his unique skillset and the willingness of Apple's competitors to pay exponentially more for talent. Apple this month also nearly lost the team behind MLX, its key open-source system for developing machine learning models on the latest Apple chips. After the engineers threatened to leave, Apple made counteroffers to retain them — and they're staying for now. Anthropic and OpenAI Discussions In its discussions with both Anthropic and OpenAI, the iPhone maker requested a custom version of Claude and ChatGPT that could run on Apple's Private Cloud Compute servers — infrastructure based on high-end Mac chips that the company currently uses to operate its more sophisticated in-house models. Apple believes that running the models on its own chips housed in Apple-controlled cloud servers — rather than relying on third-party infrastructure — will better safeguard user privacy. The company has already internally tested the feasibility of the idea. Other Apple Intelligence features are powered by AI models that reside on consumers' devices. These models — slower and less powerful than cloud-based versions — are used for tasks like summarizing short emails and creating Genmojis. Apple is opening up the on-device models to third-party developers later this year, letting app makers create AI features based on its technology. The company hasn't announced plans to give apps access to the cloud models. One reason for that is the cloud servers don't yet have the capacity to handle a flood of new third-party features. The company isn't currently working on moving away from its in-house models for on-device or developer use cases. Still, there are fears among engineers on the foundation models team that moving to a third-party for Siri could portend a move for other features as well in the future. Last year, OpenAI offered to train on-device models for Apple, but the iPhone maker was not interested. Since December 2024, Apple has been using OpenAI to handle some features. In addition to responding to world knowledge queries in Siri, ChatGPT can write blocks of text in the Writing Tools feature. Later this year, in iOS 26, there will be a ChatGPT option for image generation and on-screen image analysis. While discussing a potential arrangement, Apple and Anthropic have disagreed over preliminary financial terms, according to the people. The AI startup is seeking a multibillion-dollar annual fee that increases sharply each year. The struggle to reach a deal has left Apple contemplating working with OpenAI or others if it moves forward with the third-party plan, they said. Management Shifts If Apple does strike an agreement, the influence of Giannandrea, who joined Apple from Google in 2018 and is a proponent of in-house large language model development, would continue to shrink. In addition to losing Siri, Giannandrea was stripped of responsibility over Apple's robotics unit. And, in previously unreported moves, the company's Core ML and App Intents teams — groups responsible for frameworks that let developers integrate AI into their apps — were shifted to Federighi's software engineering organization. Apple's foundation models team had also been building large language models to help employees and external developers write code in Xcode, its programming software. The company killed the project — announced last year as Swift Assist — about a month ago. Instead, Apple later this year is rolling out a new Xcode that can tap into third-party programming models. App developers can choose from ChatGPT or Claude.
India Today
26 minutes ago
- India Today
Defence Ministry to clear Rs 1 lakh crore worth of military deals post Op Sindoor
The Ministry of Defence is set to approve military proposals worth over Rs 1 lakh crore in a key meeting scheduled this week. This will be the first acquisition meeting since Operation Sindoor, aiming to enhance the capabilities of India's armed to defence officials who spoke to India Today, the proposals include a range of critical defence systems such as spy planes, sea mines, air defence missiles, and underwater autonomous major highlight of the meeting will be the likely clearance of three new regiments of the indigenous Quick Reaction Surface to Air Missile (QRSAM) systems for the Indian Army. This project is expected to strengthen India's air defence along the Pakistan border. The QRSAM systems, developed by the DRDO, will be manufactured by Bharat Dynamics Limited and Bharat Electronics Limited. The Indian Air Force is also expected to push forward a proposal to procure three spy planes under the Intelligence, Surveillance, Targeting and Reconnaissance (I-STAR) programme. 'The Intelligence, Surveillance, Targeting and Reconnaissance aircraft would be critical for Air Force's plans to take out ground targets in future,' sources aircraft will be sourced from an original equipment manufacturer and then modified by the DRDO's Centre for Airborne Systems in collaboration with private addition, the Indian Navy is set to propose the induction of DRDO-developed Pressure-Based Moored Mines, designed to target enemy submarines and surface meeting is also expected to review the upgrade programme for 84 Su-30MKI fighter jets, which has already received initial approval from the Defence Acquisition Council (DAC). The DAC will also examine the proposal for acquiring underwater autonomous vessels, marking its first major acquisition decision after Operation Sindoor.- EndsMust Watch
