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Online video advertising platform Jivox closes $10.7 million funding

Bangalore based Jivox, the first self-service, online video advertising platform, has announced that it has closed a $10.7 million Series A round of financing led by Opus Capital. New investor Helion Venture Partners, an India-focused venture fund, also participated in the round, along with Jivox’s existing investors. The funds will be used to continue development of the Jivox online video advertising platform, as well as to expand the company's sales and marketing efforts in both India and the US. The company, headquartered in California, USA, had commenced its India operations in March 2008, through a sales and development office in Bangalore. Naren Nachiappan, Managing Director-India, Jivox, said, “The Jivox online video ad platform enables businesses to harness the power of online video advertising by reducing the cost and complexity of developing and placing online video ads.” […]

Taro file lawsuits against Sun Pharma in Israel

The row between Sun Pharma and Israel's Taro Pharmaceutical has now reached court after the cancellation of $ 454 mn merger deal between the two. Taro Pharmaceutical has taken the Mumbai-based firm to the court as it presses to go ahead with sale of its Irish operations and 'protect minority share holders' in the event of the former trying to gain voting rights through open market share purchase. In a letter to its shareholders, Taro said it had filed two lawsuits in an Israeli court. One of them was filed on June 15 aimed at stopping Sun from “engaging in practices that we deemed detrimental to our ability to maximize the value of the Irish operations in a sale.” […]

Biggies queue up for stake in Tide Oil

The disinvestment of promoter Andrew Yule's stake in lubricant outfit Tide Water Oil might turn out to be a high-voltage affair. Sources close to the development said that major domestic and international oil players — Reliance Industries, French oil giant Total, US oil giant Chevron, Hinduja group and Keventer group — have evinced interest in bidding for the Calcutta-based firm. Tide Water markets lubricants under Veedol brand and is a key player in the diesel lube market in the country. The Union ministry of heavy industries has already given green signal to the divestment of Tide Water Oil in May. The ministry has also asked Andrew Yule to appoint a consultant for the same. When contacted, the CMD of Andrew Yule, Kallol Datta, said the company would float a global tender for appointing a consultant for disinvestment of Tide Water by end-June. “We are hoping to get a good response,” he said. However, he did not comment on the interest shown by the oil giants for acquiring Tide Water. But, according to sources, Reliance Industries has internally discussed about the synergy between its business and Tide Water. […]