Acquisitions&Mergers2017

DrGaurav Garg

TIRELESSSOUL

GauravGarg888

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Idea– VodafoneMerger

VodafoneIndiaandIdeaCellularhadagreedtomergetheiroperationstocreatethecountry'slargesttelecomoperatorworthofmorethanUSD23billionwitha

35percentmarketshare.

ThecombinedentityofVodafoneIndiaandIdeaCellular,whicharecurrentlyIndia'snumber2and3,respectively,woulddislodgeBhartiAirteltocounterthefierceprice

warintheworld'ssecond-largesttelecommarket

Postthetransaction,theBritishfirmwillown45.1percentstake inthemergedentity,whiletheAdityaBirlagroup,Ideasparent,willhave26percentafter

payingRs3,874crorecashfora4.9percentstake.

Theremaining28.9percentwillbeheldbyothershareholders.

ThemergerdealisexpectedtobecompletedbyMarchnextyear

KumarMangalam Birla,willbetheChairmanofthemergedentity.

Piramal acquiresMallinckrodtLLC’spaindrugportfolio.

“Piramal Enterprisesannouncedthatitswholly-ownedCriticalCaresubsidiaryintheUKhascompleteditsacquisitionofaportfolioofdrugsforspasticity

andpainmanagementfromMallinckrodtLLC”

Piramal hadinJanuaryannouncedtheacquisitionforacashconsiderationof$171millionanduptoanadditional$32millionpayabledependingonthefinancialperformanceoftheacquiredassetsoverthenextthreeyears.

Piramal’s criticalcarebusinessisaglobalplayerinthehospitalgenericssegment.Itistheworld’sthirdlargestproducerofinhaledanesthetics.

TheportfolioacquiredincludesGablofen (baclofen),aseverespasticitymanagementproduct,whichiscurrentlymarketedintheUSandtwopainmanagementproducts,

whichareunderdevelopmentatpresent.

MallinckrodtPharmaceuticals isaUKbasedcompany.

CEO: MarkC.Trudeau

WNSacquiresUS-basedHealthHelp for$95million

NYSE-listedBusinessProcessManagement(BPM)companyWNShasboughtUS-basedHealthHelp for$95million(about₹627crore)tostrengthenitsofferingsfor

healthcareandinsuranceverticals.

ThisistheeighthacquisitionforWNSsinceitsNYSElistingin2006,withthemostrecentofitsbeingthatofUS-basedDenaliSourcingServicesfor$40million.

WNSGlobalisaglobalbusinessprocessmanagementcompanyheadquarteredinMumbai,India.

CEO: KeshavRMurugesh

Cyient acquiresUS-basedCerton Software

Cyient Ltd,throughitswhollyownedUSsubsidiaryCyient Inc.,hasacquired100percentownershipofCerton SoftwareInc.

TheacquisitionwillstrengthenCyient’s businessbyaddingunique,model-basedsystemsengineeringtoolsandtestautomationcapabilitiesthatareusedtodesign,develop,simulate,

electronichardware.

Cyient HQ:Hyderebad,Telangana

CEO: KrishnaBodanapu

TechMahindra Ltdacquires CJSSolutions:

SoftwareservicesfirmTechMahindrahasagreedtoacquireUS-basedhealthcareITconsultingcompanyCJSSolutionsGroupforanenterprisevalueof$110million

(about₹734crore)toexpanditspresenceinthehealthcarespace.

TechMahindrawillimmediatelybuyan84.7percentstakemakinganupfrontpaymentof$89.5million,whilethebalance15.3percentwillbeacquiredover

threeyears.

CJSSolutions,whichdoesbusinessastheHCIGroup, ThecompanyalsohasapresenceinEurope,MiddleEastandAsiaPacific.

HeadquarteredinJacksonville,Florida,theHCIGroupworkswithtier-Ihealthcareserviceproviders,primarilyintheUSandtheUK.

TechMahindraLtd

CEO - CPGurnani

Chairman&Founder- AnandMahindra

Cognizant acquires Japan’s Brilliant Service

ITservicesfirmCognizanthasacquiredJapanesecompanyBrilliantServiceCoforanundisclosedamount.

“Aspartoftheacquisition,ateamof70professionalswithextensivedigitalsolutionsexperienceandinsightsintheJapanesemarketwilljoinCognizant.”

HeadquarteredinOsaka,Brilliantisaproductsandsolutionscompanythatspecializesindigitalstrategy,productdesignandengineering,theInternetofThings

(IoT),andenterprisemobility.Itwasfoundedin2004.

CognizanthastwoofficesinTokyoandOsakainJapanandemploysover400people

CognizantisanAmericanmultinationalcorporationthatprovidesITservices,includingdigital,technology,consulting,andoperationsservices

CEOCognizant: FranciscoD'Souza

ZeeEntertainmentcompletessaleofTENSportstoSony

ZeeEntertainmentEnterprise(ZEEL)hascompletedtwo-stepsaleofitssportbusiness,TENSportsNetwork,toSonyPicturesandreceivedUSD36.32million(aboutRs. 232

crore)inthesecondphase.

Background:

InAugustlastyear,ZEELhadannounced itwouldsellitssportschannelTenSportstoSonyPicturesNetworksforUSD385millioninanallcashdeal.

AirtelbuysTelenorIndia

BhartiAirtelLtdagreedtoacquiretheassetsofTelenorASA’sIndiabusiness,asthecountry’sbiggesttelecomoperatorseekstopreserveitspositioninamarketwherenew

entrantRelianceJio Infocomm Ltd’saggressivepricinghasspurredawaveofconsolidation.

Thetransaction,whichwon’tinvolveanycashpaymentstoTelenor,willgiveAirtelaccessto44millioncustomers(increasingitsuserbaseto307million),43.4megahertz(MHz)of

spectruminthe1,800MHzbandand20,000basestations.

Telenor(India)CommunicationsPrivateLimited,formerlyknownas Uninor,isan Indianmobilenetworkoperator.Thecompanyisawhollyownedsubsidiaryof Norwegian telecommunicationscompany TelenorGroup.

Sharad Mehrotra (CEO)

Havells acquiresconsumerbizofLloydElectric

Havell India,India'sleadingmakersofbrandedelectricalproducts,hasacquiredtheconsumerdurablebusiness(CDB)oftheLloydElectricandEngineeringforanenterprisevalueofRs1,600crore,givingthemafootholdinthefastgrowing$15

billionconsumerappliancesmarket.

LloydistheisthirdlargestplayerintheroomACsegmentafterVoltasandLG.

ThecompanysignedanagreementwithLloydElectricalandEngineeringLimitedandFedders LloydCorporationLimitedtobuytheLloydbrandandtheconsumer

durablebusiness

Havells IndiaCMD:AnilRaiGupta

Aurobindo Pharma buys4biosimilar productsfromTLBiopharmaceutical.

Aurobindo Pharma Ltdhasacquiredfourbiosimilar productsfromSwissfirmTL

BiopharmaceuticalAGofforanundisclosedamount.

Aspartofthisagreement,TLBiopharmaceuticalwillsupplyallthedevelopmentaldataforfourmoleculesandAurobindo Pharma oritsaffiliateswilldevelop,

commercializeandmarkettheseproductsglobally.

TheHyderabad-basedispreparingtotaketheleadmolecule,bevacizumabbiosimilar,acquiredfromTLBiopharmaceuticalforclinicaltrialsin2017.

Bevacizumab isananti-antiogenesis drugusedintreatingmultiple-cancers.

TLBiopharmaceuticalAGdevelops,manufactures,andmarketsaportfolioofbiosimilars.Thecompanywasincorporatedin2009andisbasedinVisp,

Switzerland.TLBiopharmaceuticalAGoperatesasasubsidiaryofLonza GroupLtd.

NuanceCommunicationsacquires mCarbon TechInnovations:

Nasdaq-listedvoiceandspeechrecognitioncompany NuanceCommunications hasacquiredNoida-basedmobilevalueaddservices

venture mCarbon TechInnovations inacash-and-stocktransaction,estimatedatabout$36million(Rs240crore).

mCarbon TechInnovationswasfoundedin2008byRajeshRazdan

NuanceCommunicationsHQ:Burlington,Massachusetts,UnitedStates

Chairman and CEO:PaulRicci

Cadila HealthcarebuysUS-basedSentynl Therapeutics

Cadila HealthcareLtdhasacquiredUS-basedspecialtypharmaceuticalcompanySentynl TherapeuticsInc.,engagedinmarketingofproductsinthepainmanagement

segment,foranundisclosedamount.

ThisacquisitionmarkstheAhmedabad-headquarteredcompany’sforayintothe$8billionspecialtypainmanagementdrugmarketintheUS

AcquisitionofSentynl isinlinewithCadila Healthcare’sstrategytoenterthespecialtydrugsmarketintheUS.

TheacquisitionwassolelyfundedbyBankofTokyo-MitsubishiUFJ

WiprotoacquireBrazil’sInfoSERVER

WiproLtdhassignedanagreementtoacquireInfoSERVER S.A.,aBrazil-basedITservicesprovider,forBRL27.6million($8.7million).InfoSERVER

focusesontheBrazilianmarketandprovidescustomapplicationdevelopmentandsoftwaredeploymentservices.

Housing.comandPropTiger mergeinanall-stockdealRealestatewebsitePropTiger hasmergedwithHousing.com inanall-stockdeal,bringingtoanendthecontentioussagaoftheMumbaistartupandcreatingoneofthecountry'slargestdigital

platformsforpropertylistings.

Aspartofthedeal,thecombinedentitywillraise$50millionfromNewsCorp-ownedonlinerealestateadvertisingcompanyREAGroupandanother$5millionfromJapan'sSoftBank, the

primaryinvestorinHousing.com.

FreshdeskacquiresdataintegrationplatformPipemonk

Freshdesk,acloudbasedcustomerservicesoftwareprovider,acquired Pipemonk,adataintegrationplatformthatworksonthesoftware-as-a-servicemodeland

allowscompaniestosynchronizeandmovedataamongmultiplecloudappsquicklyandeasily.

FoundedbyformerYahooandOracleemployeeSatyaPadmanabham andformerRedBus executiveRaviMadabhushi,Pipemonkservesmorethan400clients

globally.

FlipkartcompleteseBayIndiamerger

E-commercemajorFlipkart hascompletedthemergerwitheBayIndia'soperations.

Withthis,eBay.in willnowbeaFlipkartGroupcompany.ThedealwasannouncedinAprilwhentheFlipkartgroupraised$1.4billionfromglobaltechnologymajors

eBay,Tencent andMicrosoft.

InexchangeofanequitystakeinFlipkart,eBayhadmadeacashinvestmentof$500millionandsolditseBay.in businesstoFlipkart.

AxisBankbuysFreeCharge

AxisBankLtdannouncedtheacquisitionofSnapdeal-ownedmobilewalletFreeCharge inaRs385croreall-cashdeal,strengtheningits

positioninthepaymentsspace.

FreeCharge wasfoundedin2010byKunalShahandJasonKothari

BhartiAirteltoacquire Tikona Networks’4GBusiness

BhartiAirtelLtdhasagreedtobuyTikona DigitalNetworksPvt.Ltd’s4Gbusiness,includingitsbroadbandwirelessaccessspectrumand350cellularsitesinfivetelecom

circles.

Thedealsizeis“approximatelyRs1,600crore.

Tikona bought20MHzof4Gairwavesinthe2300MHzbandinthe2010auctionsinGujarat,HimachalPradesh,UP(East),UP(West)andRajasthanforRs1,058crore.

GoogleacquiresHalli Labs

GoogleInc.hasacquiredHalli Labs,afour-montholdstart-upoutofBengaluruthatisdevelopingartificialintelligenceandmachinelearningsolutions.

AccordingtomarketintelligenceresearchfirmIDC,theAImarketstandsat$8billiontoday.TheresearchforecaststheriseofAImarketto$47billionin2020.

IndusIndBankannouncesmergerwithBharatFinancial

IndusIndBank announcedmergerwithmicrofinancelender BharatFinancialInclusion (BFIL).

ThedealissubjecttoapprovalsfromtheReserveBankofIndia,marketregulatorSecuritiesandExchangeBoardofIndiaandCompetitionCommissionofIndia

amongothers.

Accordingtothedeal,BharatFinancialshareholderswillget639sharesofthebankforevery1,000held.Thedealislikelytobe completedin9-10months.

BharatFinancialInclusionLtd(formerlySKSMicrofinanceLtd) BFIL isanon-bankingfinancecompany(NBFC),licensedbythe ReserveBankofIndia.

IndusIndBankCEO:Romesh Sobti

ONGCgetsgovernmentnodforacquiringHPCL

State-ownedOilandNaturalGasCorp.Ltd(ONGC)willacquirethegovernment’s51.11%stakeinHindustanPetroleumCorp.Ltd(HPCL)throughabulkorblockdealsometimeinNovemberorDecemberattheprevailingmarketprice.

Whilethegovernmentiskeenthatthedeal,whichwouldfetchitoverRs33,000croreatthecurrentmarketprice,isdoneinOctober,ONGCwantstimetoraise

themoneyrequiredfortheacquisition.

ThestakesaleinHPCLwillalsohelpthegovernmentmeetsome38percentofitsdisinvestmenttargetofRs72,500croreforthisfiscal.

ONGCChairman&MD:Shashi Shankar

Mr.M.K.Surana:ChairmanandManagingDirector(HPCL)

Cisco buysAppDynamics for$3.7Billion

CiscoSystemsInc boughtUSbusinesssoftwarecompanyAppDynamics Incforabout$3.7billion,makingoneofitslargestdealsofrecentyearsasitsearches

forgrowthbeyonditscorenetworkingbusiness.

AppDynamics makessoftwarethatmanagesandanalyzesapplicationsandithasabout2,000payingcustomers,includingNASDAQInc,NikeIncanditsnew

owner,Cisco.

CiscoSystems,Inc. isanAmerican multinational technology conglomerate headquarteredin SanJose,

California.

KeypeopleCisco:

JohnChambers (Chairman)ChuckRobbins (CEO)

Cisco alsocompletedtheacquisitionofPerspica,Inc.headquarteredinSanJose,CA.Perspica providesmachinelearninganddataprocessingtechnologyandexpertise,whichwillsupportandacceleratetheAppDynamics vision.

HPEnterprisetobuycloudsoftwarecompanySimpliVity

HewlettPackardEnterpriseCoitboughtprivatelyheldcloudsoftwarecompanySimpliVity for$650millionincash,asitlookstoexpandinthefast-growing

marketforhybridcloudplatforms.

Westborough,Massachusetts-basedSimpliVity wasfoundedin2009

KeypeopleHewlettPackardEnterpriseCo:

PatriciaRusso (Chairwoman)MegWhitman (CEO)

HPECompletesAcquisitionofNimbleStorage

HewlettPackardEnterprisehascompleteditsacquisitionofNimbleStorage,Inc.,theSanJose,Calif.-basedproviderofpredictiveall-flashandhybrid-flashstorage

solutions.

HPEpaid$12.50pershareincashrepresentinganetcashpurchasepriceatclosingof$1.0billion.

Inadditiontothepurchaseprice,HPEassumedorpaidoutNimble’s unvestedequityawards,withavalueofapproximately$200millionatclosing.

AppleAcquiresPopularAutomationAppWorkflow

Apple hasacquiredwell-knownandpopularautomationappWorkflow,Thedealwas finalized foranunspecifiedsum.

AppleconfirmedtheacquisitionofWorkflow,whichnotablyreceivedanAppleDesignAwardin2015foritsexcellentaccessibilityfeatures,likely

oneofthereasonsbehindthepurchase.

TypicallyappsacquiredfromAppledisappearfromtheAppStore,butWorkflowwillremainavailableandwillbemadefreeforusers.

GoogleacquiresKaggle

TechnologygiantGoogle hasannouncedtheacquisitionofKaggle,astart-upthathostsanumberofdatascientists,foranundisclosedamountattheCloudNext2017

conference.

Foundedin2010,Kaggle ishometotheworld’slargestcommunityofdatascientistsandmachine-learningenthusiasts

Kaggle andGoogleCloudwillcontinuetosupportmachinelearningtraininganddeploymentserviceswhileofferingthecommunitytheabilitytostoreandquerylarge

datasets

IntelbuysMobileye

The computinggiant Intel has acquired Mobileye,aleaderincomputervisionforautonomousdrivingtechnology,for$15.3billion

Mobileye anIntelCompany isan Israeli technologycompanythatdevelopsvision-based advanceddriver-assistancesystems (ADAS)providingwarnings

for collision preventionandmitigation

Crisil toacquire100%stakeinPragmatixServices

RatingcompanyCrisil LtdwillacquiredataanalyticsfirmPragmatixServicesPvt.LtdforRs56crore.

Incorporatedin2010bybankingprofessionals,Pragmatix providessoftwareproductsandservicesinbusinessintelligence,analyticsand

consultancyservices.

TataCMBtomergewithBhartiAirtel

BhartiAirtel,India’slargesttelecommunicationsservicesproviderand Tata,India’sleadingconglomerate,announcedthattheyhaveenteredintoanunderstanding tomergeConsumerMobileBusinesses(CMB) ofTTSLandTTMLintoBhartiAirtel.

Theacquisitionissubjecttorequisiteregulatoryapprovals.

AspartoftheAgreement,BhartiAirtelwillabsorbTataCMB’soperationsacrossthecountryinnineteencircles(17underTTSLand2underTTML). Thesecircles

representbulkofIndia’spopulationandcustomerbase.

TheproposedmergerwillincludetransferofallthecustomersandassetsofTataCMBtoBhartiAirtel,furtheraugmentingBhartiAirtel’s overallcustomerbase

andnetwork.

Lupin acquiresUSfirmSymbiomix

Drugmaker Lupin hasacquiredUS-basedSymbiomix TherapeuticsLLCfor$150million(about₹980crore),including$50millionasupfrontandother

time-basedpayments.

US-basedSymbiomix isfocusedonbringinginnovativetherapiesforgynaecological infectionsthatcouldleadtoserioushealthconsequences.

Lupin Limited isatransnational pharmaceutical companybasedin Mumbai.

VinitaD.Gupta,ChiefExecutiveOffice,Lupin

BigBazaar'sKishore Biyani ToBuyHypercity Retail

TheKRahejas Group,enteredintoanagreementwithKishore Biyani.toselltheirloss-makingpremiumretailchainHypercity RetailtoBiyani's Future

Retailfor Rs. 655crore inastock-and-cashdeal.

Theloss-makingHypercity,majorityownedbyShoppersStop,operates19largeformatpremiumstoresinsomekeycities.

Fiveassociatebanks,BMBmergewithSBI

SBI

BMB

SBBJ

SBH

SBM

SBP

SBT

StateBankofBikanerandJaipur(SBBJ),StateBankofHyderabad(SBH),StateBankofMysore(SBM),StateBankofPatiala(SBP)andStateBankofTravancore(SBT),besidesBharatiya Mahila Bank(BMB),mergedwithSBIwitheffectfrom

April1

Withthismerger,thebankwilljointheleagueoftop50banksgloballyintermsofassets.

ThemergedentitywillhaveadepositbaseofmorethanRs26lakhcroreandadvanceslevelof₹18.50lakhcrore.

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