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Wipro Ltd , India's third-biggest software exporter, said on Friday it was acquiring the wireless design subsidiary of Oki Electric Industry Co Ltd to help it expand in Japan and east Asia. Wipro will also set up a dedicated development center for Oki, with which it had signed a strategic partnership agreement in the area of design services for the semiconductor market, the Indian company said in a statement. “As part of this partnership, Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), including its own intellectual property rights in an all-cash deal over a period of one year,” it said. Wipro did not disclose the cost of acquiring OTCS, a wholly owned subsidiary of Oki. “The acquisition also provides a solid base for addressing the large market in Japan and east Asia,” said Ramesh Emani, head of Wipro's telecom and product engineering solutions division.( Reuters) […]
For the first time, a Russian company has entered the Indian telecom market. Sistema, the largest private sector consumer services group in Russia, on Wednesday announced its acquisition of a 10 per cent stake in Shyam Telelink, a code division multiple access (CDMA) and basic phone player in India. Sistema, which is both into global systems for mobile communications (GSM) and CDMA, acquired the stake for a cash consideration of $11.4 million. The Russian company reported revenues of $2.7 billion for the first quarter of 2007 and had total assets of $21.6 billion, as on March 2007. According to press statements issued by Sistema and Shyam Telelink, Sistema wants to increase its stake to 51 per cent after receiving Foreign Investment Promotion Board (FIPB) approval. “The overall value of the deal may touch $58.1 million at that point,” the Sistema statement added. It is believed that the Russian company may further increase its stake to 74 per cent subsequently. At present, FDI is capped at 74 per cent in the telecom sector. Shyam Telelink, which operates only in the Rajasthan circle and has a subscriber base of 2.57 lakh, has applied for unified access service (UAS) licences across the country. According to analysts, Shyam Telelink's application for pan-India operations would push up its valuation to around Rs 1,000 crore-Rs 1,200 crore. Sistema has tried to enter the Indian telecom market earlier also. […]
ICICI Venture-controlled entity acquires Austrian company for $100 million. After the spate of overseas acquisitions by Indian companies, domestic private equity firms are getting into the game. VA Tech Wabag India, controlled by ICICI Venture, has acquired VA Tech Wabag GmbH of Austria from Siemens for about $100 million. In 2005, ICICI Venture had acquired the majority stake in VA Tech’s water business in India and Siemens had acquired the parent Austrian company. “This is a pioneering transaction in which a company owned by an Indian private equity firm has acquired its erstwhile parent. It will now emerge as a global water company,” said Sumit Chandwani, director-Investment, ICICI Venture, confirming the transaction. He however declined to divulge details or confirm the cost of the acquisition. VA Tech Wabag India provides water treatment solutions to domestic public and private sector companies. The Austrian company has a presence across the globe with a business volume of over €100 million (Rs 560 crore). VA Tech Wabag India, based in Chennai, is a Rs 400 crore company with presence in India and other Asian markets. Its order book is worth over Rs 800 crore. […]
India focused real estate investment company Yatra Capital Ltd said it plans to raise 150 mln eur through an equity offering in Netherlands and private placements. In a release, Yatra said it will use the proceeds to invest in Indian real estate development projects identified by its Mauritius-based subsidiary, K2 Property Ltd. K2 Investment Committee, its advisor, has identified further financing opportunities of 231 mln eur and in order to fund this pipeline projects, Yatra will raise 150 mln eur with the right to increase the offer size. Since its initial capital raising in Dec 2006, Yatra has committed to investing 88.4 mln eur through ten investments in India.(Forbes) […]
Business process outsourcing firm, Tricom India has acquired the assets of US-based Apex Document Solutions for 2 million dollar, a deal that would enhance the domestic firm's presence in the litigation support vertical. “The acquisition will augment the company's current sales setup in the US with the newly acquired on-site processing and support facility eliminating the distance and data confidentiality barriers,” Tricom India Managing Director Chetan Kothari said. A Memorandum of Understanding was signed between Tricom and the US-based service provider of litigation support service, which include any professional assistance non-lawyers provide to lawyers in the litigation process. The acquisition was funded through internal accruals and finance from banks or other financial institutions. […]
Reliance Natural Resources (RNRL), an Anil Dhirubhai Ambani Group (ADAG) company, is planning to rope in a strategic investor in its coal bed methane (CBM) business, offering up to 20% stake in the CBM blocks. The company has four CBM blocks, holding one of the largest acreages of coal gas in the country. RNRL had picked up these blocks in association with Geopetrol, which has 10% stake in the blocks. Sources close to the development said that RNRL has two options for getting a strategic partner. It could either rope in private equity firms, which have, of late, shown considerable interest in India’s energy story or a global CBM player who will bring in upstream expertise. RNRL, which has interests in a number of energy-related business, including fuel management, has a market cap of about Rs 12,000 crore. RNRL plans to unlock some of this value by offloading a stake in the block at a significant premium. […]
Tata Group is in talks with Britain-based speciality tea firm Liberty Tea to expand its share of the global beverages market, the Economic Times reported on Monday, quoting group sources. The discussions are at an initial stage and Tata Tea Ltd , the world's second-biggest branded tea firm, is examining the synergies that an acquisition could bring to Tata's current presence in Britain, the newspaper said. A spokesman for the Tata Group, which has diverse interests including steel and cars, could not immediately respond to the report. Tata Tea, which acquired Britain's Tetley for $432 million in 2000, has been expanding its overseas presence and buying herbal and fruit tea brands in the United States and eastern Europe to boost its market presence. In June, Tata Tea said it would buy almost 26 percent of Mount Everest Mineral Water Ltd and make an open offer for another 20 percent in a deal it said was worth up to 2.1 billion rupees ($52.8 million). The deal for a controlling stake was announced one week after Tata Tea said it would receive about $1.2 billion for selling its 30 percent stake in U.S. vitamin water maker Glaceau to Coca-Cola Co. ( Reuters ) […]
Usha Martin Group, a $750 million conglomerate, has acquired UK-based outsourcer Converso Contact Centres for an undisclosed sum. The acquisition is aimed at spearheading the group's plans to accelerate its business process outsourcing (BPO) operations in India, South Africa and the UK. The investment is expected to create 1,400 new jobs in India and South Africa. Prashant Jhawar, vice chairman of the group said, “Our strategy is to continually develop and diversify our business operations globally and we see the BPO market as having high growth potential. To exploit this opportunity, we are investing in both new and existing international locations and plan to build facilities for a total of 2,000 contact centre seats globally – both on-shore and off-shore. This will meet the demands of major blue chip organisations and give them the choice of leveraging domestic and overseas BPO capabilities.” […]
Mobile retailing company UniverCell Telecommunications (India) is in parleys with private equity players to partly offload the company’s equity to help propel its next phase of growth. The Founder, Sathish Babu, said: “They were engaged in talks with several equity players and expect to close a deal very shortly.” Speaking to Business Line after launching five stores in Hyderabad, Babu said that this move would eventually lead to the company coming up with a public offer in 2009-2010, offering exit route to private equity. He said: “The company, which has about fully owned 75 stores, plans to set up 25 more by the end of this month and take this number to 170 before the fiscal end. We are in an accelerated expansion phase.” (Sify) […]
Reliance Telecommunications Infrastructure Limited (RTIL), the telecom infrastructure unit of Reliance Communications that manages the communication towers hived off by the parent, plans to invest Rs 8,000 crore by March 2008 and take its tower strength to 23,000 from the current 14,000. The company also has a target to erect 50,000 towers by 2010. RTIL also has plans to dilute equity in the company. “We are looking at the option of either an IPO or of selling an equity stake in a period of 6 months to one year,” says Gaurav Wahi, spokesman for Reliance Communications. A Reliance document, quoting some Mumbai brokerages analysts, sats RTIL’s equity valuation based on market value stands at Rs 27,000 crore, while the overall enterprise valuation based on assets stands at Rs 36,000 crore. Reliance officials say the equity valuation is based on a price of Rs. 135 per share of Reliance Communications, which has a market capitalisation of around Rs. 120,000 crore. […]
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