IT services giant Cognizant recently said that it has signed an agreement to acquire digital marketing consultancy firm Lev. However, the financial details of the transaction have been kept undisclosed yet. According to a statement by Cognizant, “Lev helps businesses simplify and modernize their marketing campaigns using Salesforce Marketing Cloud to provide data-driven insight and…
ArcelorMittal Nippon Steel or AM/NS, a joint venture between ArcelorMittal and Nippon Steel recently announced that it has completed the acquisition of Bhander Power Plant in Hazira, Gujarat from Edelweiss Asset Reconstruction Company. Bhander, a natural gas-based thermal plant with an installed capacity of 500 megawatt (Mw), will remain captive to AM/NS India’s steel manufacturing…
Bengaluru-based fintech startup PhonePe recently announced that it has raised fresh capital from its Singapore-based parent entity PhonePe Private Limited, Singapore. According to a company filing, PhonePe has received $60 million (Rs 427.25 crore) in fresh capital from its Singapore parent, PhonePe Pvt Ltd. PhonePe allotted 1mn equity shares at a value of ₹10 with…
Olympus Partners portfolio company Liqui-box, recently announced that it has completed the acquisition of DS Smith Plc’s Plastics Division. The acquired division includes both rigid and flexible packaging businesses. The combined companies will have 35 manufacturing facilities and a global workforce of nearly 3,000 employees. Post the acquisition, DS Smith’s flexible packaging and global dispenser…
Indian tech company, Tech Mahindra recently announced that it has signed an agreement to acquire a 100% stake in US-based Zen3 Infosolutions for $64mn (approx ₹460Cr) in an all-cash deal. With headquarters in Seattle, Zen3 has offices in Dublin, Hyderabad, Visakhapatnam, and Bengaluru with over 1,300 employees. Talking to the Press Trust of India, Vivek…
Global food and beverage giant PepsiCo Inc recently agreed to buy Chinese snack brand Be & Cheery from local jujube maker Haoxiangni Health Food Co Ltd. According to the company, the acquisition will cost PepsiCo about $705mn. PepsiCo said that the company plans to become China’s leading consumer-focused food and beverage company post the acquisition.…
Home rental startup NestAway recently announced that it has acquired the apartment management platform ApnaComplex. The acquisition is a part of NextAway’s strategy to expand its property management business. Monetary details about the deal have not been disclosed yet. According to a Mint report, NestAway plans to use the acquisition to expand its home services…
Customer-to-customer real estate portal, NoBroker recently announced that it has acquired society management platform Society Connect in an all-cash deal. With the acquisition, NoBroker further aims to strengthen its hold in the visitor and community management space where it already has a strong presence with its application NoBrokerHood. The acquisition follows the launch of NoBroker’s…
GoDaddy has recently has entered into an acquisition agreement with South African startup Over for an undisclosed amount. Over is a social content developer startup that through its app lets businesses create photos and videos for their social media content. Over claims to have more than 1mn active users on its platform who are using…
Moody’s Corporation announced that it has agreed to acquire Regulatory DataCorp (RDC), a provider of anti-money laundering (AML) and know-your-customer (KYC) data and due diligence services, for $700 million. The deal complements Moody’s 2017 acquisition of company data provider Bureau van Dijk (BvD), creating a global leader in compliance solutions, BvD’s fastest-growing business segment. The…
In a step to meet the increasing demand for electrification across industry, infrastructure and buildings in India, Siemens Ltd. has signed an agreement to acquire New Delhi-based C&S Electric Limited. The acquisition of one of the leading providers of electrical and electronic equipment for infrastructure, power generation, transmission and distribution, will strengthen Siemens’ position as…
Accelerator & growth investment firms Ghost Kitchens led by Karan Tanna bought controlling stake in cloud kitchen companies QSR Brands India and Eathos Group, for an undisclosed sum. QSR is valued at $5.5 million, while Eathos Group is valued at $2.2 million. QSR Brands India Pvt Ltd. led by Manoj Kudtarkar has popular brands like…
True North, a private equity firm, has agreed to acquire Glenmark Pharmaceuticals Ltd’s gynaecology business in India and Nepal for Rs 115 crore. The acquisition will be done through True North’s portfolio company, Integrace Pvt. Ltd. All formalities related to acquisition will be completed by March. The acquisition is the second such engagement between True…
Ares Management Corporation announced that its subsidiary, Ares Holdings L.P., has entered into a definitive agreement to acquire a controlling interest in SSG Capital Holdings Limited and its operating subsidiaries, a leading Asian alternative asset management firm. Headquartered in Hong Kong with offices across Asia, SSG manages private credit and special situations funds totaling approximately…
Mahindra First Choice Wheels Ltd, step down unit of automaker Mahindra & Mahindra Ltd, will acquire automotive portal CarandBike.com from NDTV Ltd and other shareholders to further its digital presence. The company will purchase 100% of CarandBike.com for up to Rs 30.45 crore, the automaker said in a stock-exchange filing. NDTV said in a separate…