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TCS wins ‘Best Supplier’ award from Ericsson
MUMBAI: Tata Consultancy Services, a leading global IT services, consulting and business solutions organization, has been recognized with the prestigious “Best Supplier” award in Technical Consultancy by Ericsson, a world leader in communications technology and services.
TCS was awarded this accolade by Ericsson Group following a rigorous evaluation of its suppliers, based on a comprehensive list of criteria, including excellence in service delivery, innovation, alignment with Ericsson’s vision and spirit of partnership. In particular, this recognition comes as a reflection of TCS’ value creation, significant contributions and consistent delivery for Ericsson’s business in a way that is aligned to the customer’s strategic priorities.
TCS has been a trusted partner for Ericsson’s R&D portfolio, contributing to the development and support of a range of solutions spanning several generations of technological evolution. In addition, the company has been the lead partner for Ericsson IT, relentlessly transforming the Enterprise IT landscape leveraging digital technologies and supporting IT to become a true business enabler.
V Rajanna, Vice President and Global Head of Technology Business Unit, TCS, commented: “We continue to be absolutely committed to bringing cutting edge innovation to drive value in every engagement. This recognition is a testament to our customer centric approach and our effective partnership with Ericsson in their digital transformation journey.”
Speaking on this occasion, Eva Andrén, Vice President and Head of Sourcing at Ericsson, said, “We recognize TCS as the best partner for its excellent performance over time in both R&D and IT consultancy, with a clear ambition in supporting our innovative efforts. TCS’ innovative approach continues to support Ericsson’s digitization and transformation journey. TCS and Ericsson also share the core values of giving back to society through sustainability and corporate responsibility initiatives.”
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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.
