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Financial Technologies India (FTIL) has acquired Apian Finance & Investment, a RBI Registered `NBFC` at a cost of Rs 15 million. FTIL has a technology development center in Mumbai providing transaction automation technologies for equities, derivatives, forex and commodity markets. FTIL also offers market infrastructure based shared services involving sophisticated exchange operations and technology infrastructure as a neutral service provider.(My Iris) […] Sintex Industries, a market leader in the plastic and textiles segment, today announced that through its wholly owned subsidiary Sintex Holdings B.V., Netherlands, the company acquired 90% stake in company holding assets of Geiger Technik GmbH (Garmisch-Partenkirchen, Germany) for Euro 35 million. Geiger family will continue to hold 10%. This acquisition will assist the company to further enhance its presence in the European Market. Commenting on the acquisition Amit Patel managing director, Sintex Industries, said, “This acquisition offers Sintex a strategic market entrance in Germany which is the capital of the European automotive market. GEIGER makes state of the art unique innovative products which are well positioned in a market where fuel consumption reduction becomes the USP of OEMs. “ “We do welcome the comprehensive commitment of Sintex very much. With their investment, GEIGER will continue to thrive as an innovation leader in the automotive components market and identify additional fields of business. The growing Indian economy and the emerging global footprint of Sintex can be leveraged for propelling GEIGER on accelerated growth plan,“ added Albert Geiger, the managing owner of Geiger Technik GmbH, Germany. […] Red Fort Capital, a private equity fund focused on real estate development, is in advance stages of negotiations with six developers for an equal number of projects worth Rs 4,000 crore in the metros across India. The PE fund today joined hands with Godrej Properties to develop an IT park in Kolkata, where Red Fort Capital has picked up 49 per cent stake. The project, Godrej Genesis, is expected to generate sales of over Rs 750 crore. “We are in the process of closing a number of transactions in the NCR, Mumbai and Bangalore. We are currently talking to six different developers in these cities,” Red Fort Capital Director Kuldip Chawlla told PTI. Without divulging names of the possible builders, he said three of them are 'big national developers', while the rest are local players. […] Jewellery maker Gitanjali Gems Ltd said its unit, Gitanjali Lifestyle Ltd, has acquired B Vijay Retail Ventures Pvt Ltd. Financial details of the deal were not disclosed. B Vijay, which owns the 'HooP' brand, retails gold, silver and other precious metals and diamond jewellery. (Reuters) […] Moser Baer Entertainment Ltd may raise up to $50 million in equity and debt to fund its expansion plans, the Economic Times reported on Wednesday, quoting industry sources. Moser Baer Entertainment is a unit of optical media maker Moser Baer India Ltd . Moser Baer officials could not be reached for comments. Moser Baer Entertainment is in talks with private equity firms including ChrysCapital and Warburg Pincus, the paper said. Moser Baer acquired entire shareholding of Moser Baer Entertainment from its wholly owned subsidiary Moser Baer SEZ Developer in February. (Reuters) […] Ajay Relan, for long the managing director and India head of Citi Venture Capital International (CVCI), the private equity business spun off from Citigroup Inc., has been bitten by the “entrepreneurial bug”. In his first media interview to Mint after stepping down from CVCI last fortnight, Relan discusses the new fund — of between $500-$750 million — that he is going to start, and why he is happy that it comes at a time when stocks at the Bombay Stock Exchange are not at near-25,000 levels. […] Indian outsourcing firms are winning deals from overseas entities controlled by private equity (PE) firms that are growing more comfortable with farming out work both as a way to reduce costs and leverage on the technology talent in Asia’s third largest economy. PE-controlled firms are typically privately held and lack the size and scale to outsource technology and back-office services. But as global economic growth slows and cost-cutting becomes imperative, PE and venture capital firms are cutting deals with outsourcing firms that can apply across their portfolio companies. “These are organizations which traditionally haven’t looked at globalizing their businesses, but are trying to do it now,” says Rohit Kochar, who advises PE firms on outsourcing possibilities. “These organizations have been languishing, and they are beginning to look at how to leverage India.” […] US-based billionaire B K Modi is in advanced stages of negotiations with Los Angeles-based Culver Studios, a well-known independent studio in Hollywood, to buy out a majority stake. The deal is expected to be struck at $150 million (about Rs 600 crore). If the deal goes through, it will mark the entry of Indian companies in Hollywood studios. After selling off Spice Communications to Idea Cellular, B K Modi has been looking at foraying into the entertainment space. His first concrete foray in this direction came with a minority stake in broadcasting company Sony Entertainment Television in India. Mody is also foraying into the audio business and plans to make movies. “Modi is in the final stages of talks for buying Culver Studios for $150 million,” said a source close to the development. […] IT and engineering services firm Rolta India Ltd is close to acquiring a Chicago-based firm at an estimated deal size of $40-50 million, a newspaper report said on Tuesday. The acquisition could be in the area of business intelligence software, the Economic Times report said citing sources. An announcement on this was likely to be made in the next few days, it said. “We are exploring a number of opportunities. But there is nothing to announce,” Rolta's Chairman and Managing Director K.K. Singh told the paper. For the quarter to June, Rolta's net profit rose 4.1 percent to 508.3 million rupees, while sales rose 58 percent to 3.2 billion rupees. (Reuters) […] Personal Offshoring, which is driving the next wave of India's outsourcing success story, got a huge boost today when iYogi – a remote technical support provider from India – raised $ 9.5 million in Series B financing from SAP Ventures, a division of SAP AG, Canaan Partners and SVB India Capital Partners, a venture fund affiliate of Silicon Valley Bank. iYogi delivers technical support services directly to consumers and small businesses and is the first, global, technical support brand based out of India. The company offers its customers an unlimited, annual service subscription for $119.99 per desktop that includes support for a wide range of technologies, including PC hardware Microsoft Windows operating system operating systems, software applications, peripherals and multifunctional devices. […] |