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M&A

Navneet Education to buy Encyclopaedia Britannica India

October 26, 2016 | TEAM VCC

Navneet Education Ltd said on Wednesday it has agreed to acquire the Indian schools’ curriculum-based business of Encyclopaedia Britannica Inc. for Rs 85-90 crore ($12.7-13.5 million) in cash.

Actis-backed Ostro Energy strikes maiden deal for solar project

October 26, 2016 | TEAM VCC

Ostro Energy Pvt. Ltd, the renewable energy platform set up by private equity firm Actis, has entered the solar power sector with a deal to acquire a stake in a project from Suzlon Energy Ltd.

L&T Infotech to acquire AugmentIQ

October 26, 2016 | Dearton Thomas Hector

IT services firm Larsen & Toubro Infotech Ltd has agreed to buy Pune-based data analytics startup AugmentIQ Data Sciences Pvt Ltd in an all cash deal worth Rs 7 crores.

Exclusive: Religare in talks with PE, strategic buyers to sell broking, health insurance biz

October 25, 2016 | Swet Sarika and Bruhadeeswaran R

Billionaire brothers Malvinder and Shivinder Singh, who have struck back-to-back deals to divest several businesses under financial services holding firm Religare Enterprises Ltd, are now looking to sell almost all of the remaining bits.

Prudential Financial ups stake in DHFL Pramerica Life Insurance to 49%

October 25, 2016 | PTI

Prudential Financial Inc (PFI) of the US today announced raising of its stake in DHFL Pramerica Life Insurance Company (DPLI) to 49 per cent, from 26 per cent, without disclosing the deal amount.

Exclusive: Reliance to pick small stake in NASDAQ-bound Yatra.com

October 24, 2016 | TEAM VCC

Yatra.com, one of India’s top online travel agencies (OTAs) that is set to get listed on NASDAQ through a reverse merger, will issue a small equity stake to Reliance Industries Ltd as part of a business arrangement, a person privy to the development told VCCircle.

Weekly Deals Tracker: Rosneft buys into Essar Oil; Wipro, HCL acquire US firms

October 22, 2016 | Keshav Sunkara

In what is the largest-ever infusion of foreign direct investment into India, Russian government-owned energy major Rosneft acquired a 49% stake in the Ruia family-promoted Essar Oil, while Dutch commodity trading firm Trafigura along with Moscow-based fund United Capital Partners bought another

Embassy Property to buy 73% in hospitality firm MAC Charles for $96 mn

October 21, 2016 | TEAM VCC

Bengaluru-based real estate firm Embassy Property Developments Pvt. Ltd has agreed to acquire a 73.41% stake in MAC Charles (India) Ltd from the hospitality company’s promoter CB Pardhanani for Rs 644.34 crore ($96 million).

JM Financial picking significant minority stake in affordable housing finance firm

October 21, 2016 | Bruhadeeswaran R

Financial services firm JM Financial Ltd, through its subsidiary JM Financial Products Ltd, is picking a 24.50% stake in India Home Loan Ltd (IHLL), by acquiring full holding of one of the promoters and another's non locked-in shares and preferential allotment, according to a disclosure.

Exclusive: Galaxy Surfactants in sale talks with overseas firms

October 21, 2016 | Ranjani Raghavan

Mumbai-based Galaxy Surfactants Ltd., which makes ingredients for soaps and washing powders, is in talks with overseas firms to divest a controlling stake in the company, three people familiar with the development told VCCircle.

HCL Tech to acquire Butler America Aerospace for $85 mn

October 21, 2016 | TEAM VCC

HCL Technologies Ltd said on Friday it has agreed to acquire US-based engineering and design services provider Butler America Aerospace LLC, a wholly owned subsidiary of Butler America Inc., for $85 million (Rs 567 crore) in cash.

Wipro to acquire US cloud services firm Appirio for $500 mn

October 20, 2016 | TEAM VCC

Wipro Ltd has agreed to buy US-based cloud services company Appirio Inc. for $500 million (Rs 3,340 crore) in cash, as India's third-largest software services exporter continues to strike acquisitions overseas to strengthen its offerings in new technologies.

Exclusive: YAPP Digital buys influence marketing firm Soinsi

October 20, 2016 | Disha Sharma

Content marketing startup YAAP Digital Pvt. Ltd has acquired Soinsi, run by FFC Information Solution Pvt. Ltd, an influence marketing and celebrity engagement firm, to give a boost to its content discovery. Financial details of the transaction were not revealed.

OrbiMed-backed Eurolife Healthcare to buy Baxter's form-fill-seal infusion biz in India

October 20, 2016 | Joseph Rai

Indian specialty pharmaceuticals company Eurolife Healthcare said it will acquire the form-fill-seal (FSS) infusion business from Baxter India, a subsidiary of US-based medical products company Baxter International, for an undisclosed amount.

Japan’s Dai-ichi eyes stake in Union Bank of India’s mutual fund biz

October 20, 2016 | PTI

Japanese financial services major Dai-ichi Life Insurance has evinced interest in buying some stake in Union KBC Asset Management and is in preliminary talks with the fund house's current majority shareholder Union Bank of India.

Quess Corp to acquire stakes in Singapore's Comtel, two Indian firms

October 20, 2016 | TEAM VCC

Quess Corp has agreed to acquire minority stakes in two Bengaluru-based companies and a majority stake in a Singapore firm, as the business services provider part of Canada's Fairfax Group continues to follow its 'string of pearls' acquisition strategy for expansion.

Cerestra buys Alexandria Knowledge Park for $60 mn

October 19, 2016 | TEAM VCC

Cerestra Advisors Ltd, a real estate-focused private equity firm, has bought an office park - Alexandria Knowledge Park – in Hyderabad for Rs 400 crore ($60 million) as it kicks off work on creating a pool of office assets in India, a person privy to the development told VCCircle.

ibibo to merge with MakeMyTrip; Naspers-Tencent to own 40% stake in combined biz

October 18, 2016 | Deepti Chaudhary

In the biggest consolidation move in the online travel agency (OTA) space in India, NASDAQ-listed MakeMyTrip Ltd has agreed to buy ibibo Group, which is co-owned by South African technology group Naspers Ltd and Chinese investment firm Tencent, in a stock deal.

Freshdesk acquires former Google execs’ startup Chatimity

October 18, 2016 | Disha Sharma

San Francisco- and Chennai-based Freshdesk Inc, which provides cloud-based customer engagement software, has acquired Chatimity Software Pvt. Ltd, a social chat platform that uses artificial intelligence (AI) and chatbot technology. Financial details of the transaction were not disclosed.

Online financing platform Lendingkart acqui-hires KountMoney

October 18, 2016 | Disha Sharma

Fintech startup Lendingkart Group has acqui-hired KountMoney, an online lending marketplace for personal loans, to boost its technology and data analytics capabilities.

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