Business News Round-Up: OnMobile Global to acquire Appland AB; AQR Capital Management to set up engineering centre in Bengaluru; SHRM India Annual Conference highlights innovation in HR practitioners

OnMobile Global to acquire Appland AB for up to USD 15 mn

New Delhi, Oct 12 (PTI) OnMobile Global said it will acquire Appland AB, subscription-based games and kids app provider, for up to USD 15 million.

The acquisition will help OnMobile expand its business operations into mobile games subscription market, OnMobile said in a regulatory filing Thursday.

"(Cost of acquisition) not exceeding USD 15 million in two or more tranches, including an earn-out portion," it added.

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AQR Capital Management to set up an engineering centre in Bengaluru

* AQR Capital Management, LLC (AQR) will set up an engineering centre in Bengaluru as part of its efforts to significantly expand its engineering team.

The Bengaluru team will collaborate closely with AQR's US Engineering group on the development of technology central to AQR's research, portfolio management and trading systems, it said in a statement.

The company has offices in the US, the UK, Hong Kong and Australia.

The team will focus on developing and enhancing solutions primarily on a cloud-based platform, including trading systems, data and visualisation tools, portfolio analytics, and micro-services to support a variety of front office platforms, it added.

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SHRM India Annual Conference highlights innovation in HR practitioners

* HR practitioners and top thought leaders Friday emphasised on how innovation at the grassroots level can be of immense help in making workplaces more sustainable.

Educationist Sonam Wangchuk, in his address at the SHRM India Annual Conference & Exposition, highlighted the importance of innovation and how this can help in making workplaces and the community, in general, a more sustainable place.

The conference also saw the launch of Noble House, a platform that allows the open talent and corporate stakeholders to connect and create.

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Satin Creditcare disburses Rs 200 cr under BC tie-up with IndusInd Bank

* Microfinance lender Satin Creditcare Network (SCNL) Friday said it has disbursed over Rs 200 crore under its business correspondent (BC) partnership with IndusInd Bank and will scale up the opportunity in the short term.

Till date, SCNL has disbursed more than Rs 200 crore across Bihar, West Bengal, Uttar Pradesh and Rajasthan under this partnership, it said in a release.

"Our business strategy is to strike the right balance between secured and unsecured lending and enhance the quality of our portfolio. Partnership with IndusInd Bank will be a key enabler to achieve this objective," Chairman and Managing Director of Satin Creditcare Network H P Singh said.