BORN Group Inc., a marketing and media solutions agency backed by private equity funds True North Capital and Neeraj Bhargava’s Zodius Capital, has attracted takeover interest from a number of companies, a news report said.
Citing two persons aware of the development, The Economic Times said that information technology companies Accenture, Cognizant, IBM and Tech Mahindra have shown interest to acquire BORN Group.
BORN provides creative design, content production and e-commerce services as well as integrated digital marketing services in the US, Europe and Asia.
The company is likely to be valued around $120-150 million, or up to Rs 1,000 crore, the report said.
The report also cited Bhargava, senior managing director at Zodius Capital, as saying that the investment would exit BORN Group "at some point".
Meanwhile, Mahindra Lifespace Developers Ltd, the Mumbai-listed real estate unit of Mahindra Group, is looking for new strategic financial partners, a top executive told Mint.
The company is also looking to monetise its industrial parks to fuel growth, the report said, citing Sangeeta Prasad, chief executive officer and managing director at Mahindra Lifespace.
“We already have financial and strategic partners, but we are looking for more now. Secondly, we are looking at joint developments and creating joint venture platforms proactively,” she said.
The company’s existing financial backers include private equity firm Actis, International Financial Corporation, Japan’s Sumitomo Corp. and HDFC Capital Advisors.
Prasad also said that a quicker turnaround of residential projects and monetising industrial parks to generate faster cash flow were of prime importance to the company.