Page 38 - Acquisition

Tata Sons' arm Panatone Finvest acquires 8% stake in Tejas Networks

The shares were bought at an average price of Rs 258, aggregating the transaction size to Rs 193.5 crore

Allcargo picks up 65% stake in Swedish logistics major Nordicon for $29 mn

The promoters of the Nordicon Group will own the balance 35 per cent and will continue to lead the company as a joint venture

Sterlite Tech to acquire UK-based network integration firm Clearcomm Group

Broadband technology company Sterlite Technologies on Thursday said it will acquire Clearcomm Group, a leading Network Integration company in UK, to further globalise its system integration business

With an eye on online shoppers. YouTube buys social commerce startup simsim

The simsim app serves as a platform to connect local businesses, influencers and customers. The company had raised $16 million in 2020

Stonebridge raises $200 mn to deploy in Indian, APAC cos; lists on Nasdaq

Stonebridge Acquisition Corporation (SBAC), on Monday announced to have raised USD 200 million or Rs 1,400 crore from global investors for investing into Indian companies.

Rossari to acquire Tristar Intermediates at enterprise value of Rs 120 cr

Rossari Biotech Ltd, a speciality chemicals manufacturer, on Sunday announced the acquisition of Tristar Intermediates at an enterprise value of Rs 120 crore. The board of the company has approved the acquisition of Tristar Intermediates, a move which will help Rossari Biotech expand its product portfolio, primarily in the personal care segment, a joint statement said. As per the agreement and subject to customary closing conditions, Rossari will be acquiring 100 per cent equity share capital of Tristar Intermediates, it added. "76 per cent of the equity share capital will be acquired upon closure of the transaction, and the balance 24% over the next three years. The total enterprise value of the transaction is Rs 120 crore," it said. Rossari plans to fund the investment through cash on the balance sheet and doesn't intend to raise any debt for this acquisition. Established in 1998, Tristar Intermediates operates in the field of Preservatives, Aroma Chemicals, and Home & Personal

Tumblr's parent company buys popular podcast app Pocket Casts

The co-founders, Russell Ivanovic and Philip Simpson, will remain in charge of the Pocket Casts team

Chip-maker Intel in 'talks' to acquire GlobalFoundries for $30 bn: Report

Chip-maker Intel is reportedly exploring a deal to acquire GlobalFoundries, a semiconductor company its rival AMD spun off a decade ago, for nearly $30 billion

CCI approves Synergy Metals' stake-buy in JSW Cement under green route

CCI has approved the stake acquisition in JSW Cement by Synergy Metals Investments Holding, under green channel route

Mastercard ban to hit Citi and RBL's customer acquisition the most

In India, there were over 900 million debit cards as on May 31, 2021, of which over 400 million were issued by Mastercard

Lina Khan-led FTC opens probe in Amazon's MGM acquisition: Report

US Federal Trade Commission, headed by Lina Khan who is known as antitrust advocate and an Amazon critic, has opened a probe into Amazon's $8.45 billion acquisition of movie and TV studio giant MGM

Larsen & Toubro Infotech completes acquisition of Cuelogic Technologies

Larsen & Toubro Infotech (LTI) on Thursday said it has completed acquisition of Cuelogic Technologies, a digital engineering and outsourced product development company. In June this year, LTI said it will acquire Cuelogic Technologies for USD 8.4 million (about Rs 61.6 crore). The company completed the acquisition of 100 per cent shareholding of Cuelogic on July 7, 2021. Consequently, Cuelogic is now a wholly owned subsidiary of the company and Cuelogic Technologies Inc., US, is now a wholly owned step-down subsidiary of the company, LTI said in a regulatory filing. Cuelogic, which is the seventh acquisition by LTI since the company got listed in 2016, will be integrated with the digital practice of Larsen and Toubro Infotech, the company had earlier said in a statement. Pune-headquartered Cuelogic, which was founded in 2010, primarily focuses on developing cloud native web and mobile applications, modernisation, and runs Innovation Lab as a service for its clients in the US and ..

Sumitomo Mitsui Financial Group to acquire 74.9% stake in FICC for $ 2 bn

SMFG has plans to eventually acquire 100 per cent stake in FICC, which is a wholly-owned subsidiary of Fullerton Financial Holdings (FFH)

Mindtree completes acquisition of the NxT Digital Business from L&T

Mindtree on Friday said it has completed acquisition of the NxT Digital Business from Larsen and Toubro (L&T). In May this year, Mindtree had announced it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the Internet of Things (IoT) and Industry 4.0 space. "The company has consummated the acquisition of L&T's digital transformation business undertaking (NxT Digital Business) on July 1, 2021, consequent to completion of customary conditions precedent agreed under the business transfer agreement dated May 20, 2021, between the company and L&T," Mindtree said in a regulatory filing. L&T is also the promoter/holding company of Mindtree with a 61.03 per cent stake in the Bengaluru-based company.

Shinsegae Group's E-Mart acquires 80.01% of shares in eBay Korea

Shinsegae Group's E-Mart officially acquired about 80 per cent of share in eBay Korea, which operates G market and Auction, on the 30th

Zoom acquires German startup for ML-based translation capabilities

To bring real-time machine-learning-based translation to the platform, video conferencing app Zoom has signed a definitive agreement to acquire German startup Kites

HDFC Bank acquires 7.4% stake in product engineering firm Virtuoso Infotech

Virtuoso Infotech Pvt. Ltd., an enterprise software solutions company, founded by Preeti Nahar and Yogesh Satpute, based out of Pune, India announced today the news of its first investment fundraise.India's largest private sector bank HDFC and its subsidiary HDFC Securities Limited has acquired a 7.4 per cent stake in Virtuoso Infotech.Virtuoso Infotech specializes in product engineering and offers customized software solutions for enterprises across a wide range of sectors. The list includes software solutions for Hospitality, Finance, Media, Religious Institutions, Communities, Cloud Computing, Food & Travel industries, using Data Analytics and Machine Learning.This relationship will strengthen, company's vision to become a reliable software technology partner for Indian Enterprises and bank's objective to digitize under-served and under-penetrated segments using digital solutions."We thank HDFC Bank for their confidence and trust in Virtuoso's tech capabilities," says Preeti .

Affle Global wins legal battles as PhonePe fails to acquire 92% of OSlabs

With respect to Affle Global minority shareholding in OSLabs, AGPL finds that 100+ media stories were reported mostly with PhonePe's bias on the OSLabs related matters

Hyundai Motor buys US-based robotics firm Boston Dynamics for $880 mn

Hyundai Motor Group said on Monday its three affiliates and its chief have acquired a controlling stake in US-based robotics firm Boston Dynamics for $880 million

We will continue to actively look for acquisitions: ITC CMD Sanjiv Puri

In a Q&A, he says that with vaccination picking up pace, consumers will gain confidence and the economy will recover progressively