Page 5 - Mergers And Acquisitions

Indiamart Intermesh acquires stake in M1xchange for Rs 32.4 crore

B2B e-commerce firm Indiamart Intermesh has acquired a stake in trade receivable discounting system services firm M1xchange for Rs 32.4 crore, the fintech firm said on Monday. Indiamart has earlier announced a deal to acquire 7.7 per cent in M1xchange for Rs 32.4 crore and the transaction closes with the fintech firm securing the deal amount. "M1xchange, India's largest TReDS platform, has secured over Rs 324 million in secondary funding from Indiamart Intermesh Limited, in a deal that provided part exit to SIDBI Venture Capital Limited, an early investor in the company," M1xchange said in a statement. SIDBI Venture was the first institutional investor in the company. "SIDBI Venture Capital Limited has partly exited with a return on investment of around 7 times, on the investment made in first tranche in 2015," the statement said. Indiamart founder and managing director Dinesh Agarwal said that this investment is in line with the company's long-term objective of offering various .

Big four professional services firms see big growth post Covid-19

Tech adoption by businesses, rise of unicorns, M&A activity drive gains

Qualcomm, SSW Partners to buy Veoneer in $4.5 billion deal

Veoneer's expertise in making advanced driver assistance systems (ADAS) made it an attractive takeover target for both Qualcomm and Canada's Magna.

Pandemic recovery fuels deal craze as third-quarter M&A breaks all records

A frantic summer of merger activity produced deals worth $1.52 trillion in the three months to Sept. 27, up 38% from the same quarter last year and more than any other quarter on record

Kalpathi AGS Group-owned Veranda acquires Edureka for Rs 245 crore

Founded in 2011 by Lovleen Bhatia, Kapil Tyagi and Vineet Chaturvedi, Edureka is best known for pioneering live online classes based upskilling programmes for working professionals

Mphasis acquires US-based Blink UX for $94 mn in an all cash deal

Founded in 2000, Blink has over two decades of expertise using its evidence-driven Design SM process to define digital user experience for clients

HDFC Life acquires Exide Life Insurance in Rs 6,687-crore deal

Move will augment the embedded value of HDFC Life by 10%

Aon increases stake to 100% in Aon India Insurance Brokers

Aon had acquired a 49 percent stake from former Infosys Chairman N R N Murthy's Catamaran Ventures in 2020

Prosus buys Indian payments company Billdesk for $4.7 billion

Technology investor Prosus NV purchases 100% of the equity in Indian payments platform Billdesk for $4.7 billion.

Suumaya Industries acquires 51% stake in agritech startup payAgri

Suumaya Industries Ltd on Tuesday said it has acquired 51 per cent stake in agri-tech startup payAgri Innovations to expand its farm business. The company did not disclose the deal value. Suumaya Industries, which is into textile business, has recently ventured into agri-commodity business through its 100 per cent subsidiary Suumaya Agro Ltd. Mumbai-based Suumaya Industries, which is listed on the NSE, had posted a net profit of Rs 406 crore and a revenue of Rs 4,263 crore during the last fiscal. The company, through this subsidiary, has acquired a majority of 51 per cent stake in payAgri Innovations Pvt Ltd, a tech-driven agri and food business firm that seeks to address the problems of farmers, processors and consumers in the agri value chain, Suumaya Industries said in a statement. Ushik Gala, Chairman and Managing Director of Suumaya Industries, said, the company has embarked onto an ambitious journey with Suumaya 2.0 strategy. "Diversifying into the agri business is a new pa

Reliance Industries may buy Deutsche Telekom arm for $5.9 billion

A deal for T-Mobile Netherlands would represent a rare purchase in Europe for Mukesh Ambani's group.

Deal activity in H1 2021 at $40.7 bn, down 14% over year-ago period

When compared with the second half of 2020, the $40.7 billion investments were a mere 2 per cent increase

Tata Sons subsidiary to buy 43.3% stake in Tejas Networks for Rs 1,850 cr

Tejas Networks said Panatone and some other companies of the Tata Group would make a public announcement to acquire up to 40.3 million equity shares of Tejas Networks

Zoom to buy cloud-based call centre operator Five9 in $15-billion deal

Teleconferencing services provider has become a household name and investor favorite since the coronavirus pandemic.

Investment fund Synergy Metals gets CCI nod for stake buy in JSW Cement

Unlisted JSW Cement currently has a capacity of 14 million tonne

Paytm president Amit Nayyar, other top executives quit ahead of IPO

Paytm is headed for a $2.3-billion IPO by the end of 2021

Nasper-backed PayU in talks to acquire BillDesk for up to $4 billion

Media reports have said Paytm, which will soon come up with its initial public offering (IPO), is also evaluating BillDesk

Blackstone to buy out office developer SOHO China in $3-billion deal

The founders of the Chinese office developer will retain a 9% stake in the company

Global M&A activity surges to record high for third straight month

During the five months, 428 deals worth over $1 billion were struck, compared to 131 during the same period last year.

Covid impact: Million-dollar M&A deals sealed over phone, Zoom calls

Some buyers are insisting on a clause in the agreement that the whole deal hinges on physical verification at a later date with some part of payment kept in escrow