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Wipro & Verveba join hands to improve mobile radio network
NEW DELHI: Global IT service provider Wipro has entered into a partnership with telecom network engineering company Verveba Telecom to improve mobile radio network among other fields.
The partnership brings together Wipro’s expertise in telecom sector and Verveba’s Mobile Radio Network Optimisation technology with services, intellectual property and solutions of both organisations.
The companies will offer solutions to address industry challenges in generating measurable economic value from fast growing, mobile network technology deployments and optimisation especially in 4G and single RAN technologies.
It will also provide the opportunity to combine the skills and talents of two great network services organisations. Verveba and Wipro will work together on business development activities and expanding solutions to the Telecom Service Providers globally.
“Verveba’s solution augments our Telecom Network Services portfolio for the communications industry by delivering better business outcomes through cost reduction, improvement in turnaround time & process simplification, across the multi technology Radio Network Optimisation field. This aligns well with Wipro’s goal of offering comprehensive, cutting-edge customer experience solutions to our clients,” said Wipro senior vice president & global business head – communications business unit Anil Kumar.
“We are pleased and excited about this partnership with Wipro. This partnership increases the reach of Verveba’s services and solutions. Wipro’s reach in global markets complements Verveba’s capabilities to deliver incremental business value to the Communication Service Providers,” added Verveba CEO Manik Arora.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
