Reliance Industries (RIL) has entered into agreements on 12 April 2018 to acquire 34,33,767 equity shares of Indiavidual Learning (Embibe), for cash consideration, translating to 72.69% shareholding of Embibe on a fully diluted basis. RIL has agreed to invest upto rupee equivalent of $180 million into Embibe, (including consideration to be paid for acquiring majority stake from existing investors) over the next three years. The announcement was made beforer market hours today, 13 April 2018.
Embibe is an emerging education technology provider incorporated in India on 28 August 2012. It has operations in India. Embibe operates an AI-based education platform that leverages data analytics to deliver personalized learning outcomes to each student.
HCL Technologies (HCL) and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Actian Corporation. The all-cash deal is valued at $330 million. HCL will own 80% while SEP will own approximately 20% stake of the JV entity which inturn will own 100% shareholding of Actian Corporation. The announcement was made after market hours yesterday, 12 April 2018.
Palo Alto-based Actian-a leader in hybrid data management, cloud integration, and analytics solutions-powers insight-driven enterprises around the globe to help them solve the toughest data challenges.
Reliance Industrial Infrastructure's net profit dropped 65.21% to Rs 2.54 crore on 11.91% fall in total income to Rs 27.22 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 12 April 2018.
Letko Brosseau Emerging Marchkets Equity Fund bought 36.50 lakh shares at Rs 59 per share of Kwality in a bulk deal on NSE yesterday, 12 April 2018. Seller was Sidhaant & Sons HUF to the tune of 15 lakh shares at Rs 59.04 each.
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