SunFireMatrix, Inc. (SunFire), a leading software and tech-enabled services platform serving the insurance distribution and health plan markets, announced that it has been acquired by funds managed by KKR, a leading global investment firm. Funds managed by Stone Point Capital LLC, the Company’s previous majority owner, will continue to be a significant minority shareholder in the Company.…
LG Electronics (LG) is making a strategic investment move to expedite the advancement of its capabilities in service robotics, a key new business area of the company. LG has executed a stock purchase agreement to acquire a stake in Bear Robotics, a prominent Silicon Valley-based startup specializing in AI-driven autonomous service robots, through an investment…
Indigo Paints Ltd (“IPL”), has closed a transaction with the promoters of Apple Chemie India Private Limited (“ACIPL”), for acquiring 51% stake in ACIPL, by a combination of primary capital infusion into ACIPL and secondary share purchase transaction with the promoters. Indigo Paints also has an option to acquire additional stake in Apple Chemie at…
Poonawalla Fincorp Limited in its board meeting approved sale of its housing subsidiary Poonawalla Housing Finance Limited to TPG (Perseus SG Pte. Ltd., an entity affiliated with TPG Global, LLC) at a valuation of INR 3,900 Crores, subject to regulatory approvals. The transaction will maximize the shareholders’ value in the long term as Poonawalla Fincorp…
Fairfax India Holdings Corporation (Fairfax India), an investment holding company, announced that its wholly-owned subsidiary, FIH Mauritius Investments Ltd. has completed its previously announced sale of 9.8% equity interest in IIFL Wealth Management Limited (IIFL Wealth) to Bain Capital for gross proceeds of approximately $172 million (approximately INR14.0 billion at current exchange rates). As a…
Marico Limited announced it has acquired an additional stake of 4.14% in Apcos Naturals. Post acquisition, Marico will hold 56.52 per cent stake in the company. According to the company’s exchange filing, “We refer to our letter dated July 14, 2021 informing that Marico Limited (“Company”) has entered into definitive agreements to make a strategic…
Malpani Group (MPG), a Maharashtra based diversified business group with leading presence in amusement park business, has acquired majority stake and control in Imagicaaworld Entertainment Ltd. (Imagicaa). The lenders to the Company have completed a debt resolution for Rs. 575 crore, which includes assignment of their debt to Aditya Birla ARC for Rs. 500 crore…
FMCG firm Marico Limited (MARICO) has announced a strategic investment in HW Wellness Solutions Private Limited with an acquisition of ~54% equity stake through primary infusion and secondary buyouts. Co-founded by Puru Gupta and Sreejith Moolayil, HW Wellness Solutions Private Limited owns “True Elements”, a clean label, digital-first brand playing in the rapidly growing healthy…
Firstsource Solutions Limited, a global provider of business process management (BPM) services and a RP-Sanjiv Goenka Group company, announced it has entered into an agreement to acquire American Recovery Services, Inc. (ARSI), a nationwide legal collections network headquartered in Southern California. The acquisition enhances Firstsource’s leadership in consumer debt management services by adding legal stage…
Accenture has completed the acquisition of Tambourine, an e-commerce customer experience agency with award-winning capabilities in cloud-based technologies in Japan. Terms of the transaction, which was announced on November 18, were not disclosed. Founded in 2015, Tambourine provides integrated commerce services on the Salesforce platform and brings a proven track record in using Salesforce Commerce Cloud to deliver…
Realtime media monitoring company Streem announced it has accepted an offer to be acquired by global communications intelligence company Cision. The terms of the deal were not disclosed, however the transaction results in a sale of 100% of Streem shares to Cision and will see the Streem brand and platform continue in Australia and New Zealand under its current…
CarTrade Tech Ltd announced its plans to deploy up to USD 100 mn (INR 750 crores) to strategically acquire and invest into companies in the automotive space. The group wants to strengthen its position as a leading automotive platform in India by acquiring and investing in companies which will help it to either enter a…
HCL Technologies (HCL), a global technology company, and Deutsche Apotheker- und Ärztebank eG (apoBank), the largest cooperative primary bank in Germany, have signed with Atruvia AG an agreement to acquire IT consulting company Gesellschaft für Banksysteme GmbH (gbs). Post-closing, HCL will own 51%, while apoBank will own 49% stake of gbs. apoBank is currently a…
Aurionpro Solutions Ltd (Aurionpro) has entered into a definitive agreement for acquisition of majority stake (51%) in Toshi Automatic Systems Pvt. Ltd. (TASPL), a Ghaziabad, an Uttar Pradesh-based company and an innovator with products and solutions in Industrial, Public Safety, Mass Transit segments. TASPL is a leading manufacturer & supplier of automatic gates required in…
Rane (Madras) Limited, a manufacturer of steering and suspension products and light metal casting components announced that the Board of Directors of the company has approved the acquisition of the Steering Components Business (SCB) of Yagachi Technologies Private Limited (YTPL), a part of Hical Group. SCB manufactures steering and suspension components such as Inner Ball…