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M&A

Saksoft to raise stake in testing services firm 360Logica to 76%

June 29, 2016 | Disha Sharma

Chennai-based IT company Saksoft Ltd said on Wednesday it will increase its stake in Noida-headquartered software testing services firm 360Logica to 76% from 51% for Rs 8 crore ($1.2 million) in cash.

HT Media to buy 50.5% stake in Singapore-based sports content firm

June 28, 2016 | Arti Singh

HT Media Ltd has decided to pick up a 50.5% stake in Singapore-based digital content firm Sports Asia Pte. Ltd, as the newspaper publisher expands its online offerings.

Tata Communications sews new deal to sell Neotel

June 28, 2016 | TEAM VCC

Tata Communications Ltd has inked a new agreement to sell its South African telecom arm Neotel Pty Ltd to another African group after a proposed deal with a subsidiary of Britain’s Vodafone Group Plc came unstuck.

Sistema to buy Russian government's 17.14% stake in Indian telecom JV

June 27, 2016 | Anuradha Verma

Russian conglomerate Sistema JSFC has entered into an agreement with the Russian Federation, represented by the Federal Agency for State Property Management, to acquire 17.14% in Sistema Shyam TeleServices (SSTL), as per a press statement. However, financial details have not been disclosed.

Pokkt sells reward-based ad platform to Japan's Adways

June 27, 2016 | Binu Paul

Japanese mobile marketing company Adways Inc. has acquired Pocket Money, an incentivising Android app, from mobile video advertising startup Pokkt.com for an undisclosed sum.

Airtel, Axiata defer merger of Bangladesh operations

June 24, 2016 | PTI

Telecom major Bharti Airtel and Malaysian firm Axiata have deferred the agreement for merger of their Bangladesh operations till September 26, 2016.

The merger of their Bangladesh business was earlier expected to be completed in the first half of this year.

Essar Energy exits Kenya Petroleum for $5 mn

June 24, 2016 | PTI

Essar Group firm Essar Energy Overseas today announced that it will sell its 50 per cent stake in Kenya Petroleum Refineries (KPRL) for around USD five million to the African nation's government.

Malaysia-based Astro Group looking at a strategic exit from India

June 24, 2016 | Manu P Toms

Amid legal troubles that its founder T Ananda Krishnan is facing in India, Malaysian business group Astro Malaysia Holdings is looking at a strategic exit from the Indian market.

Reliance Communications expects merger deal with Aircel shortly

June 23, 2016 | Anuradha Verma

Reliance Communications Ltd said on Thursday it expects to sign a binding definitive deal for its proposed merger with smaller rival Aircel Ltd “very shortly”.

Exclusive: Rise India buys majority stake in online tutor aggregator Padhopadhao.com

June 23, 2016 | Nishant Sharma

Gurgaon-based Rise India, an education and skill development firm, has acquired a 60% stake in tutor aggregator Padhopadhao.com as it aims to establish its presence in the online tuition market, according to a person privy to the development.

Hindusthan National Glass selling German arm to European firm

June 23, 2016 | Debjyoti Roy

Sequoia Capital-backed Hindusthan National Glass & Industries Ltd is selling off its German subsidiary HNG Global GmbH to a Europe-based glass container manufacturing firm, the company said on Thursday.

How Marico seeks to revive M&A game plan

June 23, 2016 | Debjyoti Roy

Marico Ltd, the maker of Parachute hair oil and Saffola cooking oil, is looking at acquisition opportunities in several categories and countries as it seeks to expand its portfolio through inorganic growth after a four-year gap.

Jungle Ventures-backed Mobikon buys digital marketing platform MassBlurb

June 23, 2016 | Varun Arora

Digital marketing startup Mobikon Asia Pte Ltd has acquired MassBlurb, an automated online marketing platform for restaurants, for an undisclosed amount.

Tech Mahindra to acquire UK's BIO Agency for up to $66 mn

June 22, 2016 | TEAM VCC

Software services firm Tech Mahindra Ltd has agreed to purchase the UK-based digital services provider BIO Agency Ltd for up to £45 million ($66 million or Rs 447 crore) including debt, in its second acquisition in as many months.

Unitus exits as Yatra acqui-hires mGaadi

June 22, 2016 | Vijayakumar Pitchiah

Gurgaon-based Yatra Online Pvt Ltd has acqui-hired India Drivers Network Services Private Ltd, the operator of autorickshaw aggregator mGaadi and employee transport services provider Cartr, in a deal that provides an exit to Unitus Seed Fund.

Exclusive: Distressed asset advisor Capital Optima, others invest in SSG-backed ACRE

June 21, 2016 | Anuradha Verma

Distressed asset advisory firm Capital Optima, along with some other investors, has invested an undisclosed amount in Assets Care & Reconstruction Enterprise Ltd (ACRE), sources privy to the development told VCCircle.

Japan’s Dai-ichi Life to raise stake in insurance JV for $80 mn

June 21, 2016 | TEAM VCC

Japan’s Dai-ichi Life Insurance Company Ltd said on Tuesday it has agreed to buy an additional 18% stake in its Indian insurance joint venture for Rs 540 crore (about $80 million).

Competition watchdog clears Blackstone’s Mphasis acquisition

June 20, 2016 | PTI

Competition Commission has cleared private equity major Blackstone's multi-billion dollar deal to buy over 50 per cent stake in Mphasis from HP Enterprise.

The acquisition will be done through Marble II Pte, part of Blackstone Group.

Eros to buy 50% stake in Vashu Bhagnani's movie production house

June 20, 2016 | Anuradha Verma

Mumbai-based film studio Eros International Media Pvt Ltd said on Monday it has agreed to acquire a 50% stake in filmmaker Vashu Bhagnani's movie production house Puja Entertainment and Films Ltd.

CLP picks 49% stake in Suzlon's solar project

June 20, 2016 | Anuradha Verma

CLP India Pvt. Ltd, one of the largest foreign investors in India’s power sector, has acquired a 49% equity stake in SE Solar, a solar power project of wind turbine maker Suzlon Energy Ltd, for Rs 73.5 crore, as per a stock market disclosure.

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