Global investment business, Blackstone Group Inc has entered into an agreement to acquire the glass unit of Piramal Enterprises Ltd. The value of the deal stood at $1 billion (approx. Rs 7,500 crore). According to a report by the Mint – The private equity firm will first pay $850 million to assume responsibility of management…
Zurich Insurance Group subsidiary Farmers Group, Inc. has agreed to acquire MetLife’s property and casualty (P&C) business in the U.S. together with the Farmers Exchanges for USD 3.94 billion. Zurich will contribute USD 2.43 billion through FGI and the Farmers Exchanges’ USD 1.51 billion. The transaction gives the Farmers Exchanges a truly nationwide presence and…
Hyundai Motor Group announced it will acquire a controlling interest in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. The deal came as Hyundai Motor Group envisions the transformation of human life by combining world-leading robotics technologies with its mobility expertise. Financial terms were not disclosed. Under the agreement,…
Wipro Infrastructure Engineering’s Industrial Automation Business, announced it has signed a definitive agreement to acquire PARI, India’s largest Industrial Automation Company. The combined capabilities of Wipro and Pari will help broaden its offering, expand global footprint, and strengthen its ability to forge deeper customer relationships in India and overseas, WIN said in a statement. Founded…
Digital Transformation consulting firm for the financial services industry, Synechron has acquired Attra, a technology services and solutions provider, headquartered in Melbourne, and focused on the banking, finance, and payments industries. Attra is one of the pure play payments solutions providers with a global delivery footprint in Australia, New Zealand, North America, Europe, the Middle East,…
Mahindra & Mahindra has announced the acquisition of a stake in Sampo Rosenlew Oy, a manufacturer of combine harvesters and forest machinery with market presence in Europe, CIS and Algeria. Post-acquisition, Mahindra stake in the company will increase from 74.97% to upto 79.13%, the filing said. With this acquisition, Mahindra’s scale in tractors and Sampo’s…
Duff & Phelps, provider of governance, risk and transparency solutions, has announced the acquisition of Blackrock Expert Services Group, an expert advisory specialist firm of construction, technology, accounting and financial services professionals. Blackrock Expert Services Group will join Duff & Phelps’ Disputes Consulting practice. Giles Derry, CEO of the London-headquartered firm, will join the Disputes Consulting leadership…
The Everstone Group has announced that it has reached an agreement to sell Everise, an Everstone controlled entity founded in partnership with Sudhir Agarwal led Sunrise BPO to Brookfield Business Partners and its institutional partners (Brookfield). Sudhir Agarwal, Founder & CEO of Everise will continue in his role. Everise is a Singapore-headquartered, next-gen customer experience (CX)…
HDFC Bank, India’s largest private-sector bank, has picked up a minority stake in smallcase Technologies, a financial-technology startup focussed on capital markets and related infrastructure. Recently, the startup raised $14 million in its Series B funding round led by DSP Group. In a statement, Bengaluru-based smallcase said the transaction is part of its Series B…
Aurora has announced the acquisition of Uber’s self-driving unit, Advanced Technologies Group, to accelerate the development of the Aurora Driver. “By adding the people and technology of Uber’s Advanced Technologies Group to the incredible group we’ve already assembled at Aurora, we’re shifting the landscape of the automated vehicle space,” said Chris Urmson, co-founder and CEO…
Moody’s Corporation, a global integrated risk assessment firm that empowers organizations to make better decisions, announced that it has acquired ZM Financial Systems (ZMFS), a leading provider of risk and financial management software for the U.S. banking sector. The transaction advances Moody’s position as a leader in integrated risk assessment by broadening Moody’s Analytics’ suite…
Investcorp announced that it has entered into a definitive agreement to sell Avira to NortonLifeLock, a global leader in consumer Cyber Safety, for approximately US $360 million. The transaction is expected to close in Q1 2021, subject to regulatory approvals and customary closing conditions. Avira is a Germany-headquartered, global cybersecurity software solutions firm serving the…
Everstone, a Singapore headquartered investment group, has signed an agreement to acquire a controlling stake in Calibre, a specialty ingredients player focused on the pharmaceutical, nutritional and personal care segments. Founded in 1984 by Ranjit Bhavnani, Calibre is a leading specialty ingredients player in Iodine Derivatives, Persulfates and Perchlorates. Calibre’s customers span across US, Europe,…
Cisco and IMImobile PLC have reached agreement on the terms of a recommended cash offer pursuant to which Cisco will pay 595 pence per share in exchange for each share of IMImobile, or an aggregate purchase price of approximately USD $730 million assuming fully diluted shares, net of cash and including debt. IMImobile provides software…
EQT, a global investment organization, has announced that the EQT VII Fund will sell Apleona Group GmbH to PAI Partners SAS. Apleona, based in Neu-Isenburg, offers both technical building management services as well as infrastructural and commercial building management as part of an integrated offer. EQT acquired the company in 2016 as part of a…