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To signify its growing focus in the Indian online advertising networks, Yahoo! today announced an over 35% investment in Gurgaon-based Tyroo Media, , an advertising and public relations company and part of Smile Interactive Technologies Group. The deal size was not disclosed. The move comes as part of Yahoo's strategy to invest aggresively in technology and sales networks through small and medium-sized advertisers and publishers in India. George Zacharias, managing director, Yahoo! India said: “Through this investment, Yahoo! will act as a catalyst for the entire ad-network industry, which is still in a nascent stage, in India.” The investment gives Yahoo Inc a representation on the Tyroo board. […]
Avestha Gengraine Technologies (Avesthagen), a Bangalore-based integrated systems biology company, has acquired Renaissance Herbs (RHI), a US dietary supplement company, for $11 million. The acquisition will support Avesthagen’s bio-nutritional business strategy through vertical integration and provide access to key markets. RHI is a Delaware-based company, which is a global supplier of proprietary nutritional products. The company also sources its raw materials from India and South East Asia for processing in its contract facilities outside Bangalore. […]
JM Financial is planning to launch a $400-$500 million second private equity (PE) fund. The first PE fund, which is worth $200 million, has invested in Genesis Colors, International Tractors and the Sona group. Kampani said, “Talks for the PE fund is in its final stages.”
In retail broking space, the company is planning to open more branches by scaling them up from the present 16 to 30. “This year, about 70% of the business for investment banking will come […]
Reliance Communications Ltd., India's second-largest wireless company, acquired all of U.S.- based Yipes Communications Inc. for about $300 million, adding customers and markets to its enterprise-data services business. FLAG Telecom Group Ltd., the undersea-cable unit of Reliance Communications, bought the stake from Norwest Venture Partners, JPMorgan Partners LLC, Crosslink Capital and Sprout Group, Chairman Anil Ambani said in Mumbai today. Yipes, which provides a high-speed data services to about 1,000 customers in 14 U.S. cities, runs an optic fiber network of more than 22,000 kilometers (13,670 miles), he said. Yipes will accelerate Reliance Communications' entry into the $90 billion global market for enterprise and institutional data services, Ambani said. Bandwidth demand is rising in India as software companies such as Infosys Technologies Ltd. and Tata Consultancy Services Ltd. win orders from overseas clients. […]
IL&FS is set to acquire a 15% stake in the 750-MW West Seti hydro power project in Nepal. The project, developed by Australian hydroelectric company Snowy Mountain Engineering Corporation (SMEC), will supply the entire electricity produced from the plant to India. “IL&FS has shown keen interest to join the project as equity partner. They have already attended our first shareholders’ meeting and are conducting due diligence of the project. […]
India Infoline, one of the leading retail brokerage houses, is venturing into the consumer finance business in a big way. The company is looking for private equity funding or a strategic partner for its new venture, India Infoline Finance Holding (IIFH). The newly formed holding company for retail financing business will be valued at Rs 800-1000 crore. India Infoline will infuse around Rs 200 crore into IIFH directly, and around $100 million would be raised either through private equity or stake dilution to the extent of 30-40 per cent. […]
Oberoi Hotels is fast expanding in India, Abu Dhabi, Maldives, Cambodia and Dubai, some through management contracts and some through its own equity worth about Rs 500 crore. With such expansion plans Oberoi's would need the extra cash. They have already hired Kotak Mahindra to help them raise Rs 400 crore via debt and fresh equity. But the company is also open to roping in a strategic financial investor like a private equity fund. […]
Billing systems provider Boston Communications Group Inc. said it agreed to be acquired by India-based software services firm Megasoft Ltd. for about $65 million, or $3.60 a share, in cash.
The offer represents a premium of about 81 percent over Boston Communications' Tuesday closing price of $1.99.
The deal is expected to be completed in the third quarter. (Source : Reuters)
The Rs. 213 crore Morarjee Textiles Ltd., an Ashok Piramal Group-owned company has acquired 67 percent controlling stake in an Italian brand of shirts, Men’s Club, Mr Harshvardhan Piramal, Executive Vice-Chairman, Morarjee Textiles Ltd. said. He clarified that the company is scouting for another acquisition for its front-end business in Europe, but has not zeroed in on anything as the company would prefer to acquire a brand that offers high value-added products and fits well within our strategy. Although, the manufacturing has been outsourced to a plant in Southern Italy, the company wants to maintain a relative independence with Men’s Club as they hopes to make a dent in the Japanese and European markets through this acquisition. […]
Avestha Gengraine Technologies (Avesthagen), a Bangalore-based biotech firm, has outlined plans to raise $100 million (Rs 410 crore) to fund its growth and acquisition plans for the next three years. The amount will be raised through a mix of private equity and an initial public offering (IPO). Avesthagen, which focuses on the convergence of food, pharmaceuticals and clinical genomics, provides solutions to agriculture and health problems such as degenerative conditions, metabolic disorders and infectious diseases. […]
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