IT services firm Cognizant and global private equity firm Apax Partners are among the shortlisted suitors for a potential buyout of digital tech company LiquidHub Inc for as much as $600 million, according to a media report.
The indicative bids are in the range of $450 to $600 million and four potential suitors are shortlisted, The Times of India reported citing persons aware of the development.
Pennsylvania-based LiquidHub counts private equity firm ChrysCapital as one of its shareholders. In 2014, ChrysCapital led a $53 million Series B round of funding in the company.
Founded in 2001, LiquidHub works with global healthcare and financial services companies supporting their enterprise goals through planning, execution and management of technology across the technology life-cycle. It is in effect a digital integrator and helps businesses improve customer engagement and drive growth.
It has operations in North America, Europe and Asia, including India. In India it has presence through centres in Hyderabad and Mumbai
In another development, Raymond Group is acquiring 50% stake in JK Ansell Pvt. Ltd which it doesn’t already own from Australia’s Ansell International, the company said in a statement.
JK Ansell operates two businesses–-sexual wellness and surgical gloves.
Once the deal is closed, Raymond Group will own 100% stake in the sexual wellness and personal care business under the brand name Kamasutra. Raymond Group will pay around Rs 19.3 crore to buy Ansell’s stake in the business.
Ansell will take control of surgical gloves business by buying out Raymond Group’s stake for around Rs 11.3 crore. Gloves business will be demerged from JK Ansell.
Prior to the formation of the joint venture in 1996, the condom division was part of JK Chemicals Ltd, a subsidiary of the Raymond Group. Kamasutra was launched by JK Chemicals Ltd in 1991. Raymond tied up with Ansell in 1996.
The Raymond Group is present in the FMCG space through associate companies J.K. Helene Curtis Ltd and J.K. Ansell Pvt. Ltd (JKAL).
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