Page 40 - Acquisition

Happiest Minds acquires Pimcore Global Services for $8.25 million

Happiest Minds Technologies Ltd will acquire US-based Pimcore Global Services for USD 8.25 million (about Rs 60 crore). Houston-based Pimcore Global Services is a digital e-commerce and data management solutions company. "Happiest Minds Technologies Ltd has concluded and signed definitive agreements to acquire 100 per cent ownership interest of PGS Inc (doing business as Pimcore Global Services) for a consideration of USD 8.25 million," Happiest Minds said in a regulatory filing late Friday night. The acquisition will further strengthen Happiest Minds' offerings and leadership in the digital transformation space, it added. It will also help create greater digital capital for customers and facilitate onboarding more customer logos of strategic consequence. The acquisition is subject to customary closing conditions and is expected to close in the quarter ended March 31, 2021. The filing noted that PGS has a strategic partnership with Pimcore Austria for delivering solutions around .

Tech Mahindra to acquire Payments Technology Services for Rs 66 cr

The acquisition will give Tech Mahindra access to IPs and licenses for two products - Open Payment Framework (OPF) and Multi-Bank System (MBS), a regulatory filing said

Competition Commission gives nod to 8% acquisition of API Holdings by TPG

API Holdings is the parent entity of API Holdings Group and of Pharmeasy, a leading e-pharmacy player

Despite Covid-19, M&A and PE deal value rose by 7% to $80 billion in 2020

Around 25 per cent of this deal value could be attributed to sizable inbound investments in Jio Platforms.

Embassy Reit raises Rs 3,680 cr to fund acquisition of Embassy Tech Village

Listed in April 2019, Embassy Reit owns and operates a 33.3 million square feet portfolio

Garment Mantra acquires 83.8% stake in Jannat Fabrics, to pick up 100% soon

The management is expecting to acquire 100 per cent stake in the next few months to make it a wholly-owned subsidiary of Garment Mantra.

Adobe to acquire marketing start-up Workfront for $1.5 billion

The transaction is expected to close during the first quarter of Adobe's 2021 fiscal year

Pidilite acquires consumer and bazaar business of Araldite for Rs 2,100 cr

Pidilite Industries is acquiring complete interest in HAMSPL for a consideration of about Rs 2,100 crore to consolidate its leadership position in the domestic adhesive market

AMD agrees to buy rival Xilinx in $35-billion deal to take on Intel

Deal will broaden AMD's business into chips for 5G market, automotive electronics

Vedanta Resources leads India surge in dollar loans to fund local buyouts

Vedanta, the London-based commodity conglomerate controlled by billionaire Anil Agarwal, raised a $1.75 billion facility in August to finance a plan to take its Indian unit private

Infosys to acquire US-based firm Kaleidoscope Innovation for $42 million

Will pick up 100% stake in a deal that is expected to close during the second quarter of fiscal 2021

Acquisition of Future Group to strengthen RIL's retail footprint: Moody's

Last week, RIL announced that it will acquire Future Enterprise Limited's consumer business for a purchase consideration of around Rs 24,713 cr

Wipro completes acquisition of Brazilian IT firm IVIA Servios for $22.4 mn

In July, Wipro had said IVIA's local talent and long-standing relationships, combined with its own global expertise, will help expand its geographical footprint in Brazil

Equinix acquires GPX India data centres for $161 mn in an all-cash deal

GPX India has a fiber-connected campus in Mumbai with two datacentres and the deal is expected to close by March 2021 after mandatory approvals

Siemens Healthineers to acquire Varian Medical Systems for $16.4 billion

Siemens expressly welcomed the deal and would raise the money for the bridging loan by issuing bonds

Nvidia may acquire SoftBank owned UK chip maker ARM for $32bn: Report

The proposed deal includes "both cash and stock and that it valued ARM at above the $32bn price that SoftBank paid for the business in 2016"

Sun Pharma-owned subsidiary to acquire Canada's Aquinox Pharma for $8.2 mn

Indian company says no approvals are required for the acquisition and it is likely to be completed by July 31

ITC acquires spices maker Sunrise Foods in all-cash deal for Rs 2,150 cr

SFPL is a Kolkata-based family-owned company engaged primarily in the business of spices

Kubota Corp gets CCI nod for acquisition of 9% stake in Escorts

Under the deal, Escorts will allot about 1.23 crore equity shares through a preferential issue to Kubota Corp at Rs 850 per share

Ampere acquires Noida-based E-three-Wheeler company Bestway Agencies

With this, Ampere will expand its presence in the disruptive e-Rickshaw segment to become an integrated last-mile e-mobility player with a strong presence in e-two-wheelers and e-three-wheelers