Sonata acquires US-based mobile sepcialist Halosys

Sonata Software said that it has agreed to acquire US-based enterprise mobile specialist Halosys. Based in Santa Clara, California, Halosys is an innovator in providing technology platform and solutions that help enterprises implement mobile solutions for their business. “Halosys provides a single Unified Enterprise Mobile Enablement platform that enables businesses build, secure, manage and deploy […]

Vedanta’s Anil Agarwal says Cairn merger will ‘simplify’ group structure

Anil Agarwal, chairman of the global metal giant Vedanta Resources, continued to push for the merger of the flagship company with Cairn India Ltd, a cash-rich petroleum producing company owned by Vedanta. The merger has been criticized as harming the interests of the third-party shareholders of Cairn India Ltd, and institutional investors such as the […]

IndusInd Bank completes acquisition of Diamond financing unit from RBS India

IndusInd Bank said it completed the acquisition of Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India. With this, the Bank said, loan portfolio is approximately Rs.41 billion has been transferred to the bank from Royal Bank of Scotland. IndusInd Bank is a private bank in India […]

Govt partially allows sale of radio stations by TV Today to ENIL

TV Today Network Ltd said the government of India has allowed the sale of its FM radio stations in in Amritsar, Jodhpur, Patiala and Shimla, but rejected the sale of stations in Delhi, Mumbai and Kolkata. The three applications were rejected as Entertainment Networks India Ltd (ENIL) already has radio licenses in those cities. In […]

Acquisition to boost Cyient’s MRO, aftermarket capabilities

The acquisition of Singapore-based Global Services Engineering Asia from Pratt & Whitney (P&W) will strengthens the Indian IT provider’s aftermarket capabilities in the aerospace segment, analysts said. Global Services has been catering to P&W’s MRO (maintenance, repair and overhaul) requirements in the region. Global Services currently has a revenue base of USD10-12mn with EBITDA margin […]

Idea Cellular says not aware of Bharti Airtel’s plan to take over towers

Idea Cellular said it was “not aware of” any move by Bharti Infratel, a unit of Bharti Airtel, to takeover telecom towers owned by Vodafone and Idea Cellular. The Business Standard yesterday reported that the three companies were in talks over such a possibility. The three companies have already pooled most of their telecom towers […]

Zee Entertainment acquires Orissa’s biggest GEC channel Sarthak TV

Zee Entertainment Enterprises Ltd agreed to acquire 100% equity stake in Sarthak Entertainment Pvt Ltd which operates ‘Sarthak TV’, the number 1 GEC in Odia language. “The acquisition shall be from current shareholders of Sarthak Entertainment Private Limited, subject to requisite regulatory approvals, as an all-cash deal at a consideration of maximum of Rs. 115 […]

HCL Technologies buys assets of US-based Trygstad Technical Services

HCL Technologies Limited (HCL) said it has entered into a definitive agreement to acquire certain assets of privately held Trygstad Technical Services Inc. (“Trygstad”), a US based provider of IT consulting services & solutions in an all cash deal. The size of the deal was not revealed. Trygstad Technical Services Inc. is a niche company […]

Mphasis to transfer another 2,000 employees to Karvy Data Management

Two weeks after announcing that it would sell much of its India business to Hinduja Global Solutions, India-based outsourcing company Mphasis said it is transferring part of the remaining India business to Karvy Data Management Services Limited. Karvy Data is a provider of business and knowledge process services in India. “This is Mphasis’ second definitive agreement further […]

Mphasis to sell much of domestic business to Hinduja Global

Mphasis, a leading IT services provider, said it has signed a definitive agreement to transfer a significant portion of its domestic business, subject to regulatory approvals, to Hinduja Global Solutions (HGS), a global BPM leader in optimizing customer experience for clients. In a separate statement, HGS said the move will add 7,000 “customer experience professionals” […]

Jet Airways denies rumors of Etihad stake increase

Jet Airways, one of India’s top three airlines, denied rumors of its foreign partner Etihad Airways, approaching the government for permission to increase its stake in the Indian airline. “With reference to news item appearing in leading newspaper dated June 24, 2015 titled, “We would like to state that certain media reports about Etihad Airways […]

GVK Power & Infrastructure sells power plant to AP Transco

GVK Power & Infrastructure Ltd said it has sold its 217 MW (Phase 1) Power Plant situated at Jegurupadu Village, in Rajahmundry in Andhra Pradesh to AP Transco, the Andhra Pradesh power transportation utility, as per an agreement. “GVK Industries Ltd has received a notice from the AP Transco stating that they have exercised their […]

Bharti Airtel, Helios cancel Africa tower deal in Tanzania and Tchadu

Bharti Airtel said its deal with Helios Towers Africa to sell telecom towers in Tanzania and Tchad has fallen through. “…the agreements for sale of tower assets in Tanzania and Tchad between the respective subsidiaries of Bharti Airtel Limited and have lapsed and therefore stands terminated,” said the company. In July last year, Bharti Airtel […]

Cairn Vedanta merger unlikely, LIC holds key – Edelweiss

The proposed merger between petroleum producer Cairn India and its parent Vedanta Plc is “likely to be unlikely”, Edelweiss Securities said. Raising the question of minority interest, Edelweiss said the deal does not seem to offer any overt benefits to Cairn India. “From Cairn’s perspective, we fail to understand the benefits of any synergies that […]

RCom, MTS merger is all about 4G LTE – analysts

Reliance Communications and Sistema Shyam Teleservices (MTS) announced that they were in exclusive discussions to merge their operations. While this was seen as being in the works, especially after a recent statement by Sistema’s Dmitry Shukov, analysts are saying that this merger will be a win-win for both parties. “If they can merge, then it […]