June 2009
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Gemini acquires 51% stake in Sanat Technologies

Gemini Communication, a leading player in the wireless networking and Wimax solutions space, on Friday said it has acquired a majority stake in Sanat Technologies for an undisclosed amount. In a filing to the Bombay Stock Exchange, Chennai-based Gemini Communications said it has acquired a 51 per cent stake in Sanat Technologies. The acquisition would strength Gemini's focus on design, development and marketing of unique product solutions. […]

S. Kumars buys US co Hartmarx; to invest Rs 168 cr

S. Kumars Nationwide, along with its operating partner Emerisque, UK, has acquired Chicago-headquartered Hartmarx Corporation for $119 million (Rs 571 crore). S. Kumars Nationwide will route its investment of Rs 168 crore through its wholly-owned subsidiary SKNL North America BV, the company said in a statement to the BSE on Saturday. “The acquisition will enable SKNL Group establish a substantial footprint in the global arena and also bring significant business volumes to the SKNL Group operations in India through a ‘front-end back-end synergy’ strategy,” the company said. […]

Tech Mahindra, Satyam merger in 2 yrs

Indian outsourcer Tech Mahindra and its unit Mahindra Satyam could be merged within two years, the Economic Times reported on Thursday, citing the vice-chairman of the two firms. “I would say between 12 and 14 months. We should go in for it, if other things remain equal,” the newspaper quoted Vineet Nayyar as saying to a question on how quickly the two firms were likely to be merged. Nayyar had told a new conference on Tuesday to announce executive appointments at Mahindra Satyam he expected the two firms to be merged in the foreseeable future as it was logical and had synergies. […]