ACQUISITIONS IN EUROPE
LatentView Analytics completes acquisition of AI company Decision Point
Decision Point Analytics has over a decade of experience in developing AI powered solutions. It has over 300 employees worldwide.
Dr Reddy's to buy nicotine replacement brands from UK-based Haleon for $632 million
The portfolio to be acquired consists of Nicotinell, a global leader in the NRT category with an extensive footprint in over 30 countries spanning Europe, Asia including Japan, and Latin America, and local market-leading brand names of the product – Nicabate in Australia, Thrive in Canada, and Habitrol in New Zealand and Canada. The proposed acquisition will be inclusive of all formats such as lozenge, patch, gum as well as pipeline products, in all applicable global markets outside of the US.
Doordash held talks with UK's Deliveroo on takeover
Doordash showed interest in acquiring Deliveroo, but talks ceased over valuation. Deliveroo's shares closed at 127.5 pence, valuing the company at 2.1 billion pounds. Amazon, DST Global, and CEO Will Shu are key shareholders. Analysts noted the potential for cross-border M&A in the food delivery sector. Doordash's CEO, Tony Xu, aimed for global diversification through acquisitions.
Camlin Fine Sciences shares surge 9% after company announces 1 Euro acquisition
Shares of Camlin Fine Sciences witnessed a notable surge of 9% on the BSE on Wednesday, reaching the day's peak at Rs 113. This upswing followed the company's announcement regarding the complete acquisition of Vitafor Invest NV by its wholly owned subsidiary, Dresen Quimica SAPI De CV.
Nazara subsidiary Absolute Sports buys entertainment news site SoapCentral for $1.4 million
SoapCentral.com provides news and other content related to TV shows and mostly focuses on the US audience.
Nazara Tech promoter sells over 6% stake in block deal
Mitter Infotech LLP sells 6.38% stake in Nazara Technologies to Plutus Wealth Management, providing liquidity for promoters while retaining control. Nazara reports 43% increase in quarterly profit after tax.
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Nazara Technologies reports 43% increase in profit after tax at Rs 17 crore in Q4
Nazara Technologies reported a 43% increase in profit after tax to Rs 17 crore for Q4 FY24. Operating revenue for March fell 8% to Rs 266 crore. FY24 PAT from operations grew to Rs 89 crore. Founder Nitish Mittersain is optimistic about accelerated growth in revenue and EBITDA in FY25.
Gland Pharma Q4 Results: Firm misses profit view on higher employee costs
Indian generic injectables maker Gland Pharma reported fourth-quarter profit below estimates on Wednesday, as soaring employee expenses outweighed strong demand in its core markets.
Global fund KKR puts Lighthouse on the Block, eyes $1.2 billion valuation
KKR & Co is set to sell its education portfolio in India, Lighthouse Learning, with a valuation of $1-1.2 billion. The group operates over 1,350 pre-schools and 45 schools, attracting interest from global educational institutions and PE funds. Lighthouse has seen increasing student numbers and revenue growth, with expectations to reach Rs 1000-1200 crore by fiscal year 2024.
Acceleration of biosimilar business, debt reduction to be key priorties in FY25: Biocon Chief
Kiran Mazumdar-Shaw of Biocon aims to consolidate, accelerate biosimilar business, and reduce debt after Viatris acquisition in FY25. Mazumdar-Shaw anticipates expanding its market share for biosimilar products across the US, Europe, and emerging markets, coupled with the possibility of introducing new products in the fiscal year 2025.
Indegene looking forward to enhancing EBITDA & PAT margins: Management
Indegene's growth plans post IPO include sustaining EBITDA margin growth, retiring loans, and active acquisitions. The company aims to enhance tech capabilities, expand globally, and focus on key markets to support customers worldwide.
Proximus sets ambitious targets after acquisition of Route Mobile in India's largest inbound FDI deal
Rajdip Gupta, managing director and chief executive of RML, who will now lead the Proximus group’s global CPaaS business said, he finds immense cross-selling and business development opportunities for RML’s products in regions like Australia, LATAM and Europe.
Volumes and better demand should drive growth in textiles: Punit Lalbhai, Arvind & Anup Engg
So, both volumes and better demand should drive growth in textiles. And AMD is a very strong segment and has been historically also strong, so that journey of strength will continue in AMD and we should be able to grow at that 20% mark or slightly better.
TBO Tek riding high on growth in travel and tourism, but issue looks a bit pricey
It will also raise up to Rs 1,151 crore through an offer for sale by promoters and investors. The promoter group’s stake will fall to 44.4% after the IPO from 51.3%.
KKR acquires Healthium from Apax Partners for Rs 7,000 cr
KKR acquired Healthium Medtech Ltd., a leading Indian medical devices company, from Apax Partners. The deal, valued at approximately Rs 7000 crore, involves a special purpose vehicle owned by KKR-managed funds gaining control of Healthium. Healthium, the fourth-largest surgical suture manufacturer globally, maintains a strong presence in India and abroad, with KKR aiming to leverage its expertise to further expand its reach
Intent of global acquisitions, has the tide turned for the long term? 5 pharma stocks with upside potential of up to 31 %
Just yesterday, there was a news report which suggested that the French government is planning to block the sale of a French generic drug maker and two Indian pharma companies were in fray to buy it. Now it might just appear to be another news, but probably it signals more than it. It is after years of being bogged down by US FDA and other issues of shrinking margins, The move indicates that at least some of them have reached a point where they can again think of inorganic growth to boost growth. There are others who instead of looking for expansion outside India, have been buying products and brands from MNC players. Then there is a third set of companies, which might not look at inorganic acquisition but only look for organic growth and enter new markets and segments. In all conditions, one thing is clear that the condition of the Indian pharma companies is much better than what it was 5 years ago. As the learning of the last decade and debacles get implemented, does it increase the probability of them getting re-rated on a sustained basis?
Europe emerges as hotspot for Indian IT M&As, tops buy chart
Indian IT giants are on a European shopping spree, snapping up companies at a rapid clip. Europe's booming tech sector, outpacing North America, has fueled over a dozen acquisitions since the Covid pandemic.
Indo Count acquires global home fashion brand Wamsutta
This acquisition strengthens Indo Count’s brand portfolio, and elevates its position in the premium market segment.
M&A deal activity set to pick up this year, may touch $75 billion: Ganeshan Murugaiyan, BNP Paribas
Indian M&A activity set to rise to $75 billion in 2024, driven by private equity, IT, core industrial space, and pharmaceuticals, with influences from cross-border deals, M&A valuations, equity, debt markets, and IPOs.
And Action! Amazon leans into video in emerging Europe's online marketplace fight
Amazon and Temu challenge Allegro in Poland. Allegro leads in online sales. Amazon focuses on video, while Temu competes with low prices. Allegro plans expansion into new markets despite challenges like inflation.
Brookfield, Platinum slug it out to acquire PGP Glass; PE firms seek controlling stake now at $1.4-1.6 bn value
Brookfield's private equity division is in discussions with Blackstone, the world's largest alternative asset manager, to buy into PGP Glass, formerly Piramal Glass. The Canadian asset management giant is competing with US firm Platinum Equity Partners, a relatively unknown entity in India so far. The deal contours have changed as negotiations progress, with the PE suitors now seeking a stake of 65-75% with Blackstone owning the rest.
LatentView Analytics to acquire 70% of Decision Point for $39 million
LatentView Analytics provides business transformation consulting and works with companies to develop and implement flexible and agile analytics roadmaps. It said the acquisition of Decision Point will bolster its existing expertise in data engineering, data science, and data visualisation
Canva strikes biggest acquisition yet in chase to take on Adobe
The deal, which is a mix of cash and stock, is valued at “several hundred million pounds,” Canva cofounder and chief operating officer Cliff Obrecht said in an interview with Bloomberg on Monday. It’s the biggest outlay yet by Australia’s most valuable startup, priced at $26 billion in its latest share sale.
Hedge funds flock to Europe, ditch US stocks
The S&P 500 trades at 21 times forward earnings estimates, while European equities are trading at 14 times, BofA Securities showed.
Planetcast acquires Australia's Switch Media
Switch Media is already a strategic partner of Planetcast and has been providing OTT solutions to the company. The acquisition enables Planetcast to fully integrate Switch Media’s online video solutions with Planetcast’s unified platform, NexC, and ensure that Switch Media’s OTT product roadmap is perfectly aligned with Planetcast’s customer requirements.
France's YKONE buys marketing agency Barcode
YKONE has bought a 70% stake in the Mumbai-based Barcode for an estimated valuation of $18-20 million. The two companies refused to confirm the value of the transaction, which is one of the biggest in the fledgling influencer marketing industry, pegged at ₹1,200 crore.
Sportz Interactive eyes $15-20 million revenue in FY24
Sportz Interactive has partnerships with major sports organisations like F1, UEFA, IOC, NBA, MLB, and UFC. In India, the company works with the BCCI, IPL teams, sports broadcasters, and gaming companies.
Nazara Technologies sets aside $100 million for acquisitions
Nazara tech managing director and chief executive Nitish Mittersain told ET in an interaction that the firm’s total cash position stands at Rs 1,500 crore, including funds from its various subsidiaries, from which it is earmarking this amount for buyouts.
Both Nodwin and Sportskeeda biz will grow organically & through acquisitions: Nitish Mittersain, Nazara Tech
Nazara Tech, led by Nitish Mittersain, takes a conservative approach post-IPO, awaiting clarity on taxation. They are expanding in the gaming industry, focusing on e-sports, acquisitions, and scaling businesses for long-term growth. The future of gaming looks promising with emerging technologies like Web3, VR, and AI. Mittersain says: "Our strategy is to acquire good businesses, acquire good management teams, work with them, scale up, generate cash flow, and keep redeploying that cash flow for long-term compounding."
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