INFOGAIN INDIA
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
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.
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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.
Apax, TA, Carlyle shortlisted for likely $1 billion Quest Global deal
One more global private equity fund might also make the cut as existing investors Advent International and Bain Capital, which together own around 33% of the company, are looking to monetise their five-year-old investment. Singapore's investment firm GIC, which owns a small 2-3% stake in the company, may also sell its stake, the sources mentioned above said.
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.
Flipkart's IPO plans; windfall for India's super-rich
Flipkart CEO Kalyan Krishnamurthy said at a recent offsite that the company was looking at an IPO around this time next year.
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.
Amazon writes to Sebi on Future-Reliance; CCI meets sellers for ecomm probe
Amazon, which won a huge victory against Future Retail in the Supreme Court in early August, is doing everything in its power to thwart its takeover by Reliance. It has now written to Sebi, asking the regulator to withdraw the conditional approval.
Covid continues to disrupt hiring
Our first three stories today highlight ways in which the pandemic has changed how companies hire, manage and retain employees.
IT companies stagger fresher hiring through the year
Tata Consultancy Services has been selecting trainees through its National Qualifier Test (NQT) for the last few years. “While we continue to induct majority of talent from campuses at the beginning of the year, now that we have NQT being conducted every quarter, we do have the opportunity to hire campus talent during the year as well,” said Girish Nandimath, global head-talent acquisition at TCS.
PE-VC investments up 33% in H1 of 2021
The first half (January-June) of 2021 saw investments of $27.1 billion (across 442 deals) in the first half of 2021 compared to $20.4 Billion (across 433 deals) during the same period last year, data from research firm Venture Intelligence, shows.
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.
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.
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.
Sensex rallies 400 points; Nifty tests 7,950 levels; DCI India up 16%, Tata Steel 4%
The S&P BSE Sensex surged 400 points in morning trade on Wednesday following positive trend seen in other Asian markets.
Fifteen stocks in focus in Wednesday's trade
Indian markets are expected to trade higher. Here is a list of ten stocks which are likely to remain in focus today.
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.
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