Iridium, has been cutting staff, reducing prices and shifting its marketing strategy to survive. The company, with stocks down from $62 a share to $6, was talking with lenders over an $800-million credit facility, and faces a June 30 deadline to restructure its debt, the Wall Street Journal said on Monday. "We still think there is a market for the service. We just didn't do it right," said Michelle Lyle of Iridium. The Washington-based company with international investors, including from India, dismissed 15 per cent of staff numbering 550 including executives involved in marketing 10 days ago.

SDRC to set up CAD/CAM training centres in India

The $403 million US enterprise product development solutions major, Structural Dynamic Research Corporation (SDRC), is planning to set up training centres in India to improve CAD/cam technology skills growth in the country. SDRC would set up eight training centres in partnership with Indian firms soon, besides helpinginstitutions to conduct courses in CAD/CAM technology, Narendar Reddy, country manager of SDRC India, told PTI in New Delhi on Tuesday. "The training centres are planned for the metros and major townships and we are hopeful of completing the talks with some of the firms by the month-end, Reddy said, adding they would provide the complete training material.

Citibank, FMO, Intel pick 80% in ESS

Citibank, Dutch development bank FMO and Intel have picked up 80 per cent equity stake in Delhi-based ERP company Eastern Software Systems. Together, the three have made a venture capital investment worth Rs 10 crore in the company. Of this, Rs 4 crore has been invested by FMO, controlled by the Dutch government, ABN Amro and ING Barings, Rs 3.5 crore by Citibank and Rs 2.5 crore by Intel. The three companies have picked up ESS shares at a premium, according to ESS CMD Anil Bakht. He, however, did not disclose the price.

Aptech ties up with Regents College

Aptech has tied up with Regents College, USto offer an international bachelor's degree in computers. This was announced by Pramod Khera, executive director, Aptech , and Jerome A Atkins, dean of technology and engineering at Regents College, in Pune on Monday. Regents College is among the leaders in distance education in the US and will be offering its assessment and evaluation expertise to the alliance.