Page 2 - Deals

Deal activity plunges 87% YoY in May to $4.6 bn in value, 45% in volume

Deal activities fell a steep 87 per cent in May to USD 4.6 billion in value and by 45 per cent in volume terms to just 106 deals, according to an industry report. May 2022 witnessed four multi-billion-dollar deals totalling USD 31.5 billion, while the reporting month saw big-ticket transactions, industry tracker Grant Thornton said on Monday. The domestic market is also experiencing a downturn in deal activity following the turmoil in the global markets as a whole, especially in the global banking sector and the rising interest rates leading to high levels of volatility and uncertainty in the deal street, Shanthi Vijetha, a partner at Grant Thornton said. M&As saw a steep 98 per cent fall in value and 45 per cent decline in volume compared to last May, recording only 22 deals valued at USD 675 million as there were practically no cross-broader deals, owing to global macroeconomic challenges, concerns of a potential recession and uncertainty surrounding valuations. Domestic volumes

India saw only 100 deals valued at $5 bn in April, 47% dip in deal volumes

India saw only 100 deals valued at $5 billion, with a 47 per cent decline in deal volumes and a steep 89 per cent decline in values compared to April 2022, a report showed on Wednesday

Deal activity declines 35% to $9.7 bn in March 2023 quarter: Report

Deal activities declined 35 per cent to USD 9.7 billion across 332 transactions in the first quarter of 2023 due to an overall decline in deal activities as the fear of a global recession has gained more traction amid the continuing war on Ukraine, according to an industry report. Of the total deals, M&As constituted more than half, still lower by 21 per cent at USD 4.4 billion involving 76 deals, down 56 per cent during the March quarter, according to the data collated by Grant Thornton. In volume terms, overall deals fell by 46 per cent to 332 transactions. The main reason for the poor show was the tepid IPO market, which plunged to USD 84.4 million from USD 1 billion in Q1 of 2022. On the other hand, QIP witnessed two fundraise -- Spicejet's cargo and logistics business raising USD 301 million, followed by Data Patterns raising USD 60 million. However, it was less than USD 541 million in Q1 of 2022. Another reason is the deepening funding winter, resulting in PE activity ...

Vodafone Group, Three UK putting final touches on tie-up with Britain

Talks are ongoing and no final decisions on the structure of the merger or timing of any announcement have been made

Dealmakers in India should expect another strong year for M&As: JPMorgan

It's unlikely for the country to repeat such a high mark this year, there will be decent deal flow to keep the bankers busy, said Nitin Maheshwari, JPMorgan's head of M&A for India

Cognizant announces new services agreement worth $1 bn with CoreLogic

Nasdaq-listed IT company Cognizant on Thursday announced a new 10-year services agreement valued at about USD 1 billion with CoreLogic, a global property information, analytics and data-enabled solutions provider. The deal deepens the scope of the current collaboration with a focus on delivering strong solutions and customer experience through digital transformation and operational excellence, Cognizant said in a statement. "Cognizant and CoreLogic extend the decade-long relationship with USD 1 billion, ten-year services agreement," the statement added. Since 2011, Cognizant has been a service delivery partner, offering capabilities in application development and support, analytical modelling and domain-centric business process services to CoreLogic and its customers, primarily in the US mortgage and real estate markets. "Real estate, mortgage lifecycle, and insurance transactions depend on accurate, timely data and analytics. We are committed to helping CoreLogic provide this ...

Number of deals down 42% in October but matches pre-pandemic level: Report

According to GT Bharat's monthly Dealtracker, the biggest deal in October was Torrent Pharma's $250 million acquisition of Curatio Healthcare

Deal activity has spiked in India despite global issues: Goldman Sachs MDs

In a Q&A, Rajat Sood and Som Krishna say their company isn't absolutely return-focused, but is a relative value investor that is looking out for bogh buyouts and minority stakes

BS Number Wise: Indian deal-making enters the slow lane, shows data

There is less money for companies as buyers slow down transactions amid geopolitical tension and higher capital cost.

IT deals becoming smaller amid rising digital projects, says new report

The terms of a smaller deal can be chosen according to their own personal advantage by the parties in a smaller contract

Down 66% YoY, total deal value in Q3FY23 second lowest since 2017: Report

According to Grant Thornton Bharat's Dealtracker September 2022 report, a total of 450 deals worth $10.2 billion were recorded in Q3FY23, 25 per cent below the 600 deals recorded in Q3FY22

Thai Translucia joins Sunovatech India for metaverse ecosystem worth $3 bn

Translucia, a subsidiary of T&B Media Global (Thailand) on Wednesday partnered with immersive and Extended reality company Sunovatech India, along with other global partners, to build a metaverse ecosystem worth $3 billion.

Amazon plans second Prime Day in appeal to deal-hungry shoppers

Many consumers, meanwhile, are planning to cut back because higher food and fuel costs have left them with less to spend.

HDFC Bank signs multi-year data and technology deal with Refinitiv

HDFC Bank will get comprehensive access to Refinitiv's data and products under the agreement, enabling cost savings across several bank divisions, the companies said in a joint statement.

Goldman cuts at least 25 bankers in Asia amid deal drought in China: Report

The reductions come after Goldman went on an unprecedented hiring spree in mainland China and Hong Kong last year as China opened its financial market fully to foreign brokerages and asset managers

Holcim's sale of Ambuja Cement, ACC to be biggest exit of an MNC from India

Ambuja Cement ended Friday with a market capitalisation of Rs 73,836 crore while ACC closed the day with Rs 43,819 crore.

Netcore acquires 90% stake in Unbxd for $100 mn, plans IPO in a year

Netcore expects to close the current financial year with revenue of around USD 80 million and grow it to around USD 130 million by March 2024.

Sanjiv Goenka group scouts for retail, IT acquisition targets

The group, with $4 billion in annual revenues, is also scouting for targets in power utilities as well as IT-enabled services, where it has already bought three companies in the past 12 months

Deal activity in India jumps 40% to record high in 2021, shows data

Despite the headwinds from the pandemic and other looming uncertainties, deal activity in India witnessed a record high in 2021 and surpassed pre-Covid levels

Amansa sells shares of CG Power and Industrial Solutions worth Rs 351 cr

This took the total deal value to Rs 350.83 crore