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ICSA India, a city-based embedded software solutions and technology provider, is planning to adopt the inorganic route for its foray into the US and Southeast Asian markets. The company, which provides software to monitor and reduce transmission and distribution losses in power, water, oil and gas sectors, is in talks with two players that have a wide network and marketing strengths to reach out to power utilities in the US and Southeast Asia. “We are looking at a size of between $25 million (around Rs 105 crore) and $50 million (Rs 210 crore) for each acquisition. We expect to strike a deal in the US by this year end and in Southeast Asia next year,” G Bala Reddy, chairman and managing director of ICSA, said. […]
After acquiring Chinese logistics firm Shenzen Dida, Mumbai-based Direct Logistics has firmed up plans to acquire two freight forwarding companies — one each in North America and Western Europe — for a total cost of Rs 400 crore. Confirming the development, Direct Logistics CMD Sunil Devrani told ET that the proposed acquisition is in line with the company’s plan to enhance its global presence. “The recent increase in trade volume in the US and Europe from India and China would help the company if it has presence in these foreign shores. The acquisitions will help Direct Logistics derive better economies of scale by having operations in India and other countries.” […]
Eyeing a bigger share in the domestic market, the Bank of Rajasthan will ramp up operations and is planning to raise Rs 250 crore by way of private equity placements for funding expansion. The bank plans to scale up its presence in the domestic market and has sought RBI approval to open 30-35 branches in FY’09, taking its total branch strength to around 500 from the current 463, bank’s managing director and CEO, Mr P.L. Ahuja, said. With a view to finance its expansion programmes, the bank is looking at raising around Rs 250 crore.(Asian Age) […]
Australian Firm, IPGA, through its wholly owned subsidiary, iProperty Group Asia Pte Ltd, entered into an agreement to acquire controlling stake in Horizon Infoventures, owner of Indian Online Property Portal, RealAcres.com, reported the media. The Online portal based in Mumbai has over 2.11 lakh property listings on its websites and about 1-lakh unique visitors each month. The company focuses on the western Indian market, though maintains property portals for major cities across the country, the report said. IPGA would own 60% of the shares in the business, with an option to acquire the balance of 40% based on future earnings. […]
Europe’s largest telecom firm, Deutsche Telekom, is picking up a 17% stake in Indian start-up Devas Multimedia for $75 million, or about Rs 317 crore. Deutsche Telekom is routing its investment in US venture capital-backed Devas through its wholly-owned Asian arm. The deal values the firm at Rs 1,865 crore or about $443 million. Bangalore-based Devas is a niche satellite-based multimedia services company with plans to deliver content via a hybrid satellite-terrestrial network to mobile devices. It works in the area of software development and research & development (R&D) for multimedia content creation and transmitting content using internet, satellite and terrestrial broadcasting. Deutsche Telekom would subscribe to upto 28,349 equity shares, amounting to about 17% of Devas’ paid-up share capital. […]
The Bombay Stock Exchange (BSE) has called off its plan to acquire 26 per cent in the Ahmedabad-based National Multi Commodity Exchange (NMCE). The deal was terminated just before the resignation of BSE Managing Director and CEO Rajnikant Patel. Patel quit late on Thursday evening, citing personal reasons. A release issued by BSE today said that its present Chief Operating Officer (COO) Mahesh Soneji will look after the interests of the exchange until a new appointment is made in place of Patel. NMCE Managing Director Kailash Gupta confirmed that the stake sale agreement with BSE has been terminated. Patel was also on the NMCE board as an independent director, but Gupta said a further course of action relating to Patel’s role in NMCE would be decided once the commodity exchange’s board meets next month. Reliance Capital had recently picked up 26 per cent stake in NMCE. […]
Close on the heels of its acquisition of EnPointe Global Services, Allied Digital Services (ADSL) is in 'the final stages of buying a similar infrastructure management services (IMS) capability' in the UK, sources close to the development said. IMS involves IT asset management, remote control for problem resolution, patch management, operating system imaging & migration, software license monitoring etc. In June DNA Money had reported about ADSL's intent to make an acquisition in the IMS space in the US, Europe and India. A month later, ADSL announced its acquisition of a 80% stake in US-based EnPointe Global Services for $28 million. […]
Hinduja group BPO HTMT Global Solutions said it is in buyout discussions with two US companies and one UK firm to strengthen its portfolio and added that it has lined up Rs 25-crore to spend on expanding its Durgapur operations. “Two of the companies we are targeting have a revenue close to $50 million, and the revenue of the other firm on our radar has revenue nearer to the $150 million mark ,” HTMT Global CEO Partha Sarkar said on the sidelines of CII’s ‘ICT East’ summit. “We have a $110 million reserve to fund the buys.” However, Sarkar did not elaborate on when HTMT Global hoped to close any of the deals and the segments in which the target companies operate. […]
Raman Roy’s Quatrro BPO Solutions has lined up a $300-million war chest for acquisitions. The company has teamed up with two foreign private equity firms and has bid for three US-based BPOs. The cumulative value of these three bids is around $250 million. Of this, one of the bids alone is worth $150 million for a BPO outfit in the mortgage space. “We are in negotiations with the managements and promoters of all three companies where we’ve placed our bids. The three firms operate in niche areas where there is hardly any activity in India,” Quatrro BPO Solutions CMD Raman Roy said. […]
DreamWorks SKG is near an agreement to get $550 million in funding from Indian billionaire Anil Ambani, allowing Steven Spielberg's film studio to split from Viacom Inc., according to a person with knowledge of the talks. A deal may be reached as soon as next week, said the person, who declined to be identified because the agreement isn't final. The studio will borrow $400 million and no additional outside equity will be required, the person said yesterday. The investment from Reliance Anil Dhirubhai Ambani Group would give Spielberg, 61, the backing he needs to leave Viacom as soon as November. DreamWorks partners Spielberg, David Geffen and Jeffrey Katzenberg sold the studio to Viacom for $1.6 billion in 2006. […]
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