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HCL Tech in focus on acquiring select IBM products for $1.8 billion

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(HCL) said it will acquire select software products for $1.8 billion. The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews. The software products in scope represent a total addressable market of more than $50 billion and include Appscan for secure application development, for secure device management, Unica (on-premise) for marketing automation, Commerce (on-premise) for omni-channel eCommerce, Portal (on-premise) for digital experience, Notes & for email and low-code rapid application development, and Connections for workstream collaboration. HCL and have an ongoing for five of these products. The announcement was made after market hours yesterday, 6 December 2018.

Wipro's digital business arm, Digital, and Alfresco, a leading enterprise open source provider of process automation, and information governance software, announced an expanded global partnership to create, build and run open source based digital transformation programs for its clients, across the globe. The partnership will bring together Wipro's expertise in digital transformation and Alfresco's As a part of this alliance, the two companies will launch a series of go-to market (GTM) initiatives, that includes a joint Predictive Service Automation solution using Artificial Intelligence, and a microservices based framework, that will transform the future of asset maintenance. The announcement was made after market hours yesterday, 6 December 2018.

Shares of (REC) and (PFC) will be watched. The Cabinet Committee on Economic Affairs, chaired by the has given its 'in principle' approval for strategic sale of the Government of India's existing 52.63% of total paid up equity shareholding in REC to PFC along with transfer of management control. The acquisition intends to achieve integration across the power chain, obtain better synergies, create economies of scale and have enhanced capability to support and by improved capability to finance power sector. It may also allow for cheaper fund raising with increase in bargaining power for the combined entity. Both REC and PFC are Central Public Sector Enterprises under the The (CCEA) made after market hours yesterday, 6 December 2018.

Coal announced after market hours yesterday, 6 December 2018, that the of India, acting through the Ministry of Coal, Government of India, has sold 13.73 crore equity shares, or 2.21% equity, of Coal to This is with reference to the setting up of the central public sector enterprise exchange traded fund (CPSE ETF) comprising equity shares of central public sector enterprises (CPSE), which was launched as the CPSE ETF mutual fund scheme (Scheme) in March 2014. Post-acquisition holding of promoter is 72.92% of equity capital of the company.

said it is planning to raise Rs 2,574.99 crore through issue of shares on a preferential basis. The firm's board approved issuing equity shares of face value of Rs 10 each on a preferential basis to Cadila Healthcare, True North, and Zydus Family Trust, said in a filing to the BSE. The announcement was made after market hours yesterday, 6 December 2018.

The board has also given its nod to raise debt by issuing listed, secured, redeemable, non-convertible debentures on a private placement basis for an amount up to Rs 1,500 crore anytime within a year from the date of passing the special resolution, it added.

The company plans to issue 72,35,890 shares to for Rs 999.99 crore, 7,23,589 shares to for 99.99 crore, 85,02,170 shares to for Rs 1,174.99 crore and 21,70,767 shares to for Rs 299.99 crore, said.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 08:18 IST
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