Google, Facebook, Oracle offer Rs 1 Crore plus Salary at IITs

Top international recruiters Facebook, Oracle and Google have rolled out at least 40 offers with total compensation packages higher than Rs 1 crore at the end of only the second day of IIT campus placements. Such a large number of crore-plus offers - including cash and stock -  are being offered for the first time.

Oracle is leading the charge, offering up to 4,800 stock units worth $200,000 (Rs 1.24 crore), besides a $125,000 (Rs 77.5 lakh) cash component. IIT BHU sources have revealed these figures.

Sources from IIT-Delhi, IIT-Roorkee and IIT-Kanpur said some 4,000 stock options had been indicated as part of the overall package by the American multinational computer technology corporation.

Google, for Mountain View postings, rolled out a salary of $130,000 and 250 stock units worth approximately $134,500 (Rs 83 lakh), said IIT-BHU officials.

The institute added that one student has been selected by Oracle US, and another for Google US.

Average domestic salaries at IIT campus placements this year have been in the range of Rs 10-12 lakh.

Placements at the older institutes started on December 1. Stock options are typically rolled out by companies as a retention measure and are often vested only after employees remain with the company for a specified period.

Facebook has already made offers of $250,000 (Rs 1.55 crore) to students at IIT-Bombay, IIT-Kharagpur and IIT-Delhi.

Oracle to buy RightNow Technologies Inc

Software company Oracle says it is buying RightNow Technologies Inc. for about $1.5 billion so it can offer a broader range of software and services that help businesses manage customer service.

Oracle Corp. said it offered $43 per share for the tech service company from Bozeman, Montana.

RightNow's board has agreed to the deal which is subject to shareholder approval. Oracle expects to complete the deal by late this year or early next.

RightNow's main product helps companies manage customers' questions and complaints. It is delivered over the Internet or "cloud" - rather than by installing software directly on computers.

Oracle wants a share of Android’s ad revenue

Oracle is known for some epic lawsuits, often throwing its weight around in California courtrooms over software licensing and patents. Coming off a recent victory against SAP, Oracle’s throwdown against Google is just getting warmed up, as the software maker seeks billions in damages over claims that Android software uses technology related to the Java programming language. It’s a drama that’s been building its plot since Oracle acquired Sun Microsystems, and Java along with it. The full extent of Oracle’s claims were finally disclosed in a San Francisco federal court, when the company sought to prevent Google from filing under seal documents in the case stating Oracle’s monetary claims.

Google’s fighting back, especially since Oracle’s looking to get royalty payments from Android-related ad revenue. The mobile platform owner has called out Oracle’s expert testimony as inflated, saying that “Oracle’s ‘methodology’ for calculating damages is based on fundamental legal errors and improperly inflates their estimates.”