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Reliance Money Express, a part of Reliance Anil Dhirubhai Ambani Group announced that the company would acquire UK-based forex firm, No 1 Currency. The company becomes first Indian company to acquire an international foreign exchange company. With the acquisition of the UK's fastest growing independent foreign currency specialist, Reliance Money Express would widen its service offering globally. […] Logistic service provider Allcargo Global has acquired a 5.97-per cent stake in rival Gateway Distripark for Rs29 crore, in an open market deal. Allcargo said that the transaction was “purely a treasury investment” and was funded from internal accruals. Global private equity fund Blackstone Group LP has a 10.39-per cent stake in Allcargo. The 6.1 million equity shares were bought by Sealand Terminals Pvt Ltd, a wholly-owned subsidiary of Allcargo from the Singapore government's investment arm Temsek Holdings Pte Ltd. […] IDG Ventures India and Microsoft India today announced a funding programme under which the former intends to invest up to Rs 100 crore in start ups.With this partnership, a start up gets Microsoft suite of tools and technologies free for three years, as well as access to funding of up to Rs 25 crore by IDG Ventures, officials of two entities said. The programme is open to technology companies that are under three-year old, and whose annual revenues are less than Rs 5 crore. Companies meeting the criteria would be offered access to development softare at no upfront cost through Microsoft's BizSpark programme, announced last December in India, providing start ups software and support during their first three years with no upfront costs. Start ups meeting the investment criteria of the venture capital firm would be provided access to funding of up to Rs 25 crore. […] |