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Fuji Electric to acquire UPS maker Consul Neowatt

2019-06-21T14:47:33+00:00June 21st, 2019|Uncategorized|

Fuji Electric Co. Ltd has agreed to acquire Consul Neowatt Power Solutions Pvt. Ltd, a Chennai-based maker of power backup equipment, from private equity fund Peepul Capital and some individual shareholders. The Japanese electrical equipment maker said in a statement it will use Consul Neowatt’s network of sales and service centres to expand its power electronics systems business in India, targeting mainly the manufacturing industry and the data centre market. Fuji Electric will also use the manufacturing infrastructure and product [...]

OYO to invest $300mn to boost US presence

2019-06-21T14:40:11+00:00June 21st, 2019|Uncategorized|

OYO Hotels & Homes has announced plans to invest $300 million over the next few years to grow its presence in the US. OYO Hotels & Homes currently offers its unique service at popular cities across the US, including Dallas, Houston, Augusta, Atlanta, and Miami, and promises to soon expand its presence to cities like New York, Los Angeles, and San Francisco, according to a company statement. The additional investment will be directed towards the company’s growth in the region, [...]

Tech Mahindra signs pact with Airbus

2019-06-21T14:35:57+00:00June 21st, 2019|Uncategorized|

Software and business re-engineering services firm Tech Mahindra announced the signing of a multi-year contract with Airbus for cabin and cargo design engineering. Karthikeyan Natarajan, Global Head of Engineering and IoT, Tech Mahindra, said in a statement: "Airbus is a strategic customer and partner of Tech Mahindra and it has been our constant endeavour to develop innovative engineering and digital solutions for our customers. "This will strengthen our aerospace engineering portfolio, especially in areas like cabin engineering and customer services.” [...]

Blackstone Group buys One BKC building in Mumbai

2019-06-19T09:58:16+00:00June 19th, 2019|Uncategorized|

In the year’s largest commercial real estate deal so far, US-based private equity firm Blackstone Group Lp has acquired a marquee office building in Mumbai’s Bandra Kurla Complex (BKC) for approximately $357 million (Rs 2,500 crore). Owned and developed by Mumbai-based real estate firm Radius Developers, the eight-storey building, One BKC, is spread across 700,000 sq ft and is fully leased out. Some of the big tenants include Bank of America, Facebook, Merril Lynch, Cisco and Amazon. Blackstone is also [...]

Swiggy to raise fresh funds from Carlyle Group

2019-06-19T08:09:57+00:00June 19th, 2019|Uncategorized|

Food delivery unicorn Swiggy is in talks to raise money from US-based private equity fund Carlyle Group. If Carlyle does invest, it would mark only its second Indian technology start-up bet, after backing e-commerce logistics firm Delhivery—first in 2017 and later in March this year. Carlyle could invest up to $200 million at a valuation of $4.5 billion which Swiggy (Bundl Technologies Pvt. Ltd) is seeking, a jump from the $3.3 billion it was valued at in December. Founded in [...]

Xiaomi partner sets up plant in Greater Noida

2019-06-19T07:40:56+00:00June 19th, 2019|Uncategorized|

Xiaomi’s component supplier Holitech Technology said it has set up its first component manufacturing plant in Greater Noida and would invest around $200 million over three years in India. Holitech, which provides components to the world’s top companies, excluding Apple, had previously announced an agreement with the Andhra Pradesh government to set up a plant in Tirupati. Those talks didn’t fructify. The UP government had extended several incentives to set up the plants under the state’s electronics manufacturing policy, Holitech [...]

Hexaware acquires US-based Mobiquity

2019-06-18T12:24:18+00:00June 18th, 2019|Uncategorized|

IT services company Hexaware Technologies Ltd has acquired US-based digital services firm Mobiquity for $182 million in an all-cash deal, the company said in an exchange filing. With a presence across three continents, Mobiquity is one of the largest independent customer experience consulting firms specialising in creating frictionless multi-channel digital experiences using cloud technologies, the company said. R. Srikrishna, CEO, Hexaware Technologies, said: “Mobiquity strengthens two of our key strategic offerings: Cloudify Everything and Customer Experience Transformation. We are seeing [...]

Amazon to invest in Ninjacart

2019-06-18T12:11:24+00:00June 18th, 2019|Uncategorized|

E-commerce major Amazon is in talks to invest in Bengaluru-based farm produce supply chain platform Ninjacart, which directly connects farmers and businesses. Amazon’s vertical which deals with retail of farm produce, Amazon Fresh, is not yet available in India. The investment talks are said to be an exploratory stage and might have been going on since Ninjacart’s latest $89 million funding round earlier this year. Founded by Nagarajan, Kartheeswaran K. K., Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi in 2015, [...]

Tech Mahindra to acquire Canada’s Objectwise

2019-06-18T11:55:24+00:00June 18th, 2019|Uncategorized|

Tech Mahindra Ltd, the software services arm of the diversified Mahindra Group, is acquiring Canada-headquartered IT consultancy Objectwise Consulting Group Inc for CAD 2.75 million (around $2.05 million or Rs 14.33 crore). In a stock exchange filing, Tech Mahindra said the acquisition would provide it access to Objectwise’s capabilities in the implementation and support of PEGA software, a business process management tool. The company said it expects to complete the transaction by the end of next month. Incorporated in 1996, [...]

Mahindra bets on Swiss agritech start-up

2019-06-17T13:49:00+00:00June 17th, 2019|Uncategorized|

Mahindra & Mahindra Ltd has agreed to invest 4.3 million Swiss francs ($4.3 million or Rs 30 crore) in Switzerland-based agricultural-technology company Gamaya SA. The company said in a stock-exchange filing that Gamaya will support the company’s farm equipment business by developing technology solutions. Mahindra said it is taking an 11.25 per cent share in Gamaya by subscribing to 300 common shares and 30,469 Series B preferred shares. The Indian company led Gamaya’s Series B funding round in which the [...]