Anil Ambani-owned Reliance Communications said it had decided to extend its talks with Aircel Cellular owned by Malaysia’s Maxis group. It said “based on the good progress made so far, it has extended the exclusivity period with Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited, the shareholders of Aircel Ltd, by 60 […]
Piramal Enterprises Ltd said it acquired the assets of pharmacy software maker Adaptive Software, LLC and entire control and ownership of its wholly owned subsidiary, AdaptiveRx LLC for $7.4 million. Adaptive is eligible to receive up to an additional $11.1 million if and when it meets certain post-closing requirements, which must be satisfied within six […]
HCL Technologies announced the signing of a significant IT outsourcing deal with the Volvo Group, one of the world’s leading manufacturers of commercial vehicles and the customers of its external IT business. HCL also acquired Volvo’s external IT business, adding 40 new customers from the Nordics and France to its portfolio, further enhancing its market […]
Trent Ltd, which operates the various retail chains of the Tata Group, said US-based Amazon.com has agreed to buy a 26% stake in its fully-owned subsidiary Westland for Rs 95 mln. It will also get an option to buy out the remaining 74% from the Tatas. Before the transaction, the entire shareholding of Westland was […]
Birla Corporation Limited said it agreed to buy the entire cement business of Reliance Infrastructure Ltd for a valuation of Rs 4800 crores including debt. The debt portion of the valuation will not go to Reliance Infrastructure. The equity value of Reliance Cement was not disclosed. The two companies have agreed that Birla Corp shall […]
When I started using social media about 8-9 years ago, Facebook and Twitter were largely equal in their cool factor. In fact, while it was not obvious what Facebook was (a more intrusive form of Orkut, anyone?), the possibilities of Twitter seemed as limitless as the places where your ‘contacts’ lived. Over the next nine years, Facebook […]
Anil Ambani-owned Reliance Communications Ltd will continue to hold a spectrum edge over Mukesh Ambani’s Reliance Jio in the 800 MHz band even after it sells chunks of 4G spectrum to the latter, according to sources. The Anil Ambani group said yesterday that it would sell unspecified amounts of 4G-capable 800 MHz spectrum to Reliance […]
Reliance Infrastructure, a part of the Anil Dhirubhai Ambani group, is in advanced talks to sell its cement business, the company said. “As part of our ongoing asset monetization program, we are at an advanced stage of discussions with potential buyers for divesting the cement business of the company,” Reliance Infrastructure said. “The proceeds of […]
Persistent Systems, a niche IT company that focuses on products and cloud computing, said it had signed an agreement to acquire the Citrix CloudPlatform and CloudPortal Business Manager product lines from Citrix Systems International GMBH, a subsidiary of Citrix Systems. No financial details were revealed. Citrix Systems is one of the biggest companies in the […]
After signing a merger deal with MTS, Anil Ambani’s Reliance Communications is now targeting Aircel Cellular for a merger deal that will be a major coup for the younger Ambani brother. The Mumbai-based company it has entered into a 90-day exclusivity period with Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited, the […]
Reliance Infrastructure Ltd., one of the flagship companies of the Anil Ambani group, said it expects bring Pipavav Defence & Offshore Engineering Co from the current corporate debt restructuring (CDR) program after taking over the company. Reliance Infra is in the process of acquiring Pipavav Defence & Offshore and is conducting an open offer for […]
Nippon Life Insurance, one of the largest life insurers in the world, has agreed to increase its stake in Reliance Life Insurancem a part of Reliance Capital Ltd from the existing 26 per cent to 49 per cent. The Japanese company will be investing an aggregate value of Rs 2,265 crore (US$ 348 million) to […]
Berger Paints and Nippon Paints have decided to move much of their automotive paints business in India to BNB Coatings India — a joint venture of the two companies. Nippon Paint Automotive Coatings Co Japan holds 51% of BNB Coatings India, while the remaining is held by Berger. The parties have entered into a non-binding […]
Boards of UPL Limited and Advanta Limited — two companies engaged in agriculture-related business — approved a merger of the two companies in a share swap deal. According to the deal, each Advanta shareholder owning one equity share of the company will get 1 UPL share, plus 3 optionally redeemable convertible preference shares of par […]
Reliance Communications Ltd announced its merger with Sistema’s Indian wireless business — Sistema Shyam Teleservices Ltd or MTS, clearing the way for the launch of 4G services by the Anil Ambani-owned firm. The move will be a challenge to Reliance Jio, which was the biggest holder of 800 MHz spectrum before this deal. With this, […]
Indian pharmaceuticals giant Cipla Ltd has agreed to sell its entire 25% stake in Biomab Holding Limited, Hong Kong to its joint venture partner, for $25.8 mln. The stake has been purchased by Biomab Brilliant Limited, a British Virgin Islands-based company which holds the remaining 75% stake. The transaction is valued at about 165 cr […]
Sonata Software, one of the smaller Indian IT vendors, said it has agreed to acquire the US-based supply chain software and services provider I.B.I.S. Inc. Financial details were not disclosed. Founded in 1989, I.B.I.S., Inc. has a strategic partnership with Microsoft for the Dynamics solution and delivers world-class supply chain solutions, including its proprietary Advanced […]
Infosys Ltd, one of India’s top IT consulting companies, said it had agreed to acquire Texas-based Noah Consulting LLC, “a leading provider advanced information management consulting services for the oil and gas industry” for $70 mln cash. Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, […]
Spectrum trading is likely to lead to consolidation in the Indian telecom industry and four telecom operators — Bharti Airtel, Idea Cellular, Vodafone and Reliance Jio — are likely to emerge the winners — analysts said. “The industry could see emergence of four pan-India players (Bharti Airtel Limited, Vodafone India Limited, Idea Cellular Ltd and […]
Axiata Group Berhadand Bharti Airtel Limited said they have entered into an exclusive discussion to explore the possibility of combining the business operations of their telecommunication subsidiaries in Bangladesh; namely, Robi Axiata Limited and Airtel Bangladesh Limited. Malaysia-based Axiata holds a stake of around 20% in Idea Cellular in India. “There is no certainty that […]
