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PE fund Apax to step up India play with new team
The Apax strategy is more pivoted toward control deals, given its focus on being able to have a seat on the table to drive changes. It is, however, open to partnering with quality founders and management teams in minority settings "where there's a meeting of minds," Haldea said.
SP Jain Institute launches Wise Innovation Studio for Emerging Technologies
SPJIMR's WISE Tech fosters societal advancement through wise innovation with initiatives like accelerators, Entrepreneurship Fellowship, and Wise Innovation Conclave. Manoj Mohan leads the executive team, supported by R. Ramanan and Haresh Chawla from True North.
Chrys Capital looks to sell GeBBS at $1b valuation
ChrysCapital, the largest homegrown PE fund, is looking to sell GeBBS Healthcare Solutions, about six years after acquiring the Los Angelesbased healthcare business process outsourcing (BPO) company, said multiple people aware of the development. A potential deal is likely to value GeBBS at $800 million to $1 billion, the people said.
Apax India hires veteran Leo Puri
Leo Puri has been hired as an Advisor and chairman of Apax India. He will provide mentorship, strategic advice, and assess new investment opportunities. With a wealth of experience, Puri will work closely with Anurag Sud, Rohan Haldea, and the Apax Funds to drive success in India.
Indian IT drives PE interest despite global headwinds
Institutional shareholding in IT services companies listed in India has also increased — by 9% for large-cap players, and 16-18% for mid-cap and small-cap firms over the last 12 months.
Engineering colleges and B-schools see spike in funding from alumni
“Till 2016-2017, the institute used to raise an average of Rs 1 crore per year. Now, it has gone up to Rs 32 crore in 2022-23. Funding has more than doubled compared to the pandemic years,” said Professor Arya Kumar, dean, alumni relations at BITS Pilani. The institute has raised more than Rs 73 crore in the last four years from alumni including CSR funding.
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SPJIMR receives Rs 10 Crore commitment from alumnus Sunil Bhatia to fuel innovation and startup initiatives
Sunil Bhatia, an alumnus of the 1989 batch, has pledged Rs 10 crore ($1.4m) to the S.P. Jain Institute of Management and Research's Sunil Bhatia Start-up Hub. The facility will fund networking events, boot camps, workshops, contests and micro-grants to support entrepreneurship among first-time entrepreneurs at every stage from pre-incubation to acceleration. SPJIMR’s equity-free FinTech accelerator FinNovate and its mentor network will also support the initiative's graduates.
PE veteran Shashank Singh quits Apax Partners
Singh will be moving permanently to London, the sources added. He joined Apax in 2004 in its London office and moved to the India office in 2007 and took charge after Neeraj Bharadwaj left the firm for Carlyle Group in 2013.
IT company Infogain to hire over 1,000 people this fiscal; eyes acquisition to deepen capabilities
The Silicon Valley-headquartered digital platform and software engineering services company is also actively scouting for acquisitions, Dayapatra Nevatia, president and chief operating officer of Infogain told PTI.
Apax leads race for $450-$500M stake buy in IBS
Apax is believed to have offered $450-$500 million for the stake, valuing IBS Software at $1.4-$1.5 billion, they said. JP Morgan is advising Blackstone to find a buyer for its stake. Apax, CVC Capital and Thomas H Lee Partners had been shortlisted for the stake sale, ET reported on April 12.
Blockchain’s survival code
Across B2B universe, blockchain technology is seeing greater adoption despite the question marks given its linkage to cryptocurrencies. Romita Majumdar charts the tech’s future and finds out why Big Tech and startups alike are logging into it.
Infogain acquires cloud-native app development firm NNT
This is the company’s fourth acquisition since 2019.
Advent to acquire Encora for $1.5 billion
While Warburg owns 80% of the company, the rest is held by founder Venu Raghavan and the management.
Former Mindtree CEO Krishnakumar Natarajan joins Infogain board
“Our new collaboration with KK (Krishnakumar Natarajan) is already yielding valuable guidance on our strategy as we leverage his vast global experience,” Infogain’s president and chief executive Ayan Mukerji says.
IT firms are changing the way they hire freshers
Tata Consultancy Services (TCS), Persistent Systems and Infogain Corp. are staggering their intake of freshers through the year in order to be more responsive to the changing business environment amid a raging pandemic.
Infogain to tap into opportunities through PE network of APAX Partners
Infogain is already in preliminary talks with a few companies, said chief executive Ayan Mukerji. The firm is focusing on digital innovation, platform innovation and platform foundation, and on creating human-centric solutions.
Suitors line up to acquire Hexaware Technologies in $2.5-billion deal
Private equity firms Bain Capital, Carlyle Group and KKR & Co., as well as French outsourcer Teleperformance SE, are in fray to acquire Hexaware Technologies for $2.5 billion from Baring PE Asia in potentially the largest IT deal in India.
Private equity fund Apax to acquire US digital platform Infogain
The deal where Apax will buy about 70% stake, values Infogain at about $570 million. Homegrown PE fund Chryscap owns a controlling stake in Infogain.
ChrysCap-backed Infogain begins talks to offload controlling stake
The Infogain stake sale process includes the issue of new shares and the sale of stake by some existing investors, including ChrysCapital, at a valuation of $500-600 million.
ChrysCapital-backed Infogain acquires AI firm Absolutdata
The acquisition gives the company access to Absolutdata’s NAVIK AI platform and access to new verticals, said Infogain COO Ayan Mukerji.
ChrysCapital-backed Infogain acquires Silicus Technologies
Infogain works to help accelerate the delivery of digital customer engagement systems through the cloud, microservices, robotic process automation and artificial intelligence.
Artificial Intelligence, Machine Learning will help disrupt insurance models: Girish Kannali, Infogain
In an e-mail interaction Infogain's Girish Kannali discusses innovations in the insurance sector and more.
Voice interfaces will enable easy interactions: Infogain CTO
Voice, the most natural way to communicate, will change the way we interact with devices. What keyboards and touch screens could not do in making technology inclusive, voice will do.
Be a learning machine to survive in the AI, ML era: Sunil Bhatia, CEO, Infogain
We have 4000 people and very large percentage of engineers are in our four centers in India. The largest is in Noida and our second largest office is in Bangalore, said Sunil Bhatia.
Blue Star Infotech plunges 20% as co sells IT biz to Infogain for Rs 181 crore
Blue Star Infotech shares fell 20% in Wednesday’s trade, a day after the company announced that its IT business will be acquired by Infogain.
Infogain Corp acquires Blue Star Infotech's IT business for Rs 181 crore
The deal highlights the growing sense that small IT companies will likely have to merge with other firms as they look to grow in a tough market.
Infogain to acquire Blue Star Infotech IT business for Rs 181 crore
The combined entity will have revenue of over $150 million, close to 4,000 employees and multiple global delivery centres, BSIL said in a BSE filing.
ChrysCapital invests $63 million in Infogain
Indian private equity poster boy ChrysCapital has struck its first buyout deal, snapping up shares in Infogain, a San Francisco IT company.
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