Infosys, the country’s second-largest software and services firm, expects to close 15 overseas deals, each worth over $100 million, in the next 10 months, company managing director and CEO S Gopalakrishnan said on Tuesday. It has also identified three to five acquisition targets overseas, including a consulting firm. “We are in the race for 15 deals of over $100 million outside India,” Mr Gopalakrishnan, or Kris as he is known in the industry, said. The company is also looking at closing smaller deals worth $10-15 million in the same time period. For acquisitions, Infosys has set aside about $500 million. In July this year, Infosys BPO had signed a $250-million outsourcing contract with Royal Philips Electronics, which included the $28-million acquisition of its three shared service centres in India, Poland and Thailand. […]

Cisco Systems Inc said it is extending another 100 mln usd to its venture investment in India and, as a initial step, is collaborating with Satyam Computer Services to explore a new operation in healthcare management. The network equipment maker also expects 60-70 pct of its growth to come from emerging countries, including India, the company said today at the inauguration of its globalisation centre in India's software hub Bangalore. (CNN) […]

A couple of private equity (PE) firms have evinced interest in picking up around 40 per cent stake in Valecha Infrastructure, a wholly-owned subsidiary of mid-sized road construction player Valecha Engineering. “We have plans to dilute 40 per cent stake in Valecha Infrastructure. Two PE players – one from India and another from overseas – have evinced interest to pick up stake in the company. We hope to close the deal shortly,” said, Valecha Engineering Managing Director Jagdish Valecha. Valecha Infrastructure plans to raise Rs 100 crore by diluting the stake and grab orders worth Rs 1,000 crore in one year in three verticals – transport, power and real estate. […]

The FIPB has put on hold Chennai-based rail infrastructure company Sical Infra Assets’ proposal to attract Rs 106 crore investment from PE firm Old Lane Mauritius. The railways wanted the decision on hold since Sical has a concessionaire agreement with railways for operation of container trains and the deal is valid for 20 years. The ministry is of the view that proposal of transfer of shares and induction of foreign equity has to be examined in light of existing concession pact. The ministry of shipping has also supported the stand adopted by railways officials at a recent meeting of the FIPB. Therefore, the Board decided to take it up again later. Sical Infra Assets, a Chennai-based public limited company, is engaged in developing, implementing and operating infrastructure projects. The company is a wholly-owned subsidiary of Sical Logistics. Sical Infra had sought FIPB’s permission to induct foreign funds through issue of compulsorily convertible debentures to Old Lane Mauritius. The equity ratio between Sical Infra assets and OldLane Mauritius is proposed to be in the ratio of 74:26. […]

Kishore Biyani promoted Future Group is picking up 15% stake in Percept Holdings, the media and communications company, for about Rs 200 crore. Percept Holdings had a capitalised billing of Rs 1,626.9 crore in 2006. Percept Holdings has interests in advertising, sports marketing and motion picture businesses, would use the funds for the group's expansion activities. And also the company is likely to raise additional funds through an IPO, sources close to the development said. “Percept is looking at listing the company after 12-14 months to raise money for further expansion,” the source said. Percept has about 23 companies under the group, which have interests in advertising, branded entertainment, events, movies, media, talent management, sports management and public relations. Its group companies include Percept H, Percept Gulf, Percept Profile India, Percept O-O-H, Media Agency ME, Percept Picture Company (PPC), PDM India, Tiger Sports Marketing, P9 Integrated and PTM. […]