Acquires Financial News

NTT DATA Business Solutions AG, a company of NTT DATA and a leading global IT service provider focused on the mid-market and SAP, announces the acquisition of a majority stake in ProvenTech Pvt Ltd, Hyderabad, Telangana, India. ProvenTech is specialized in providing cutting-edge GenAI-driven Quality Management and Manufacturing solutions to Pharma, Healthcare and Food industry, leveraging its own products, SAP© S/4HANA and other enterprise software. Founded in 2020, the company offers a unique and comprehensive portfolio including its own SaaS solutions, automation, integration and advisory services to meet the diverse needs of the pharmaceutical industry.

Amazon has agreed to acquire MX Player as part of its strategy to expand its portfolio in India’s thriving market for video streaming services.

Stablecoin issuer Tether Holdings Ltd. has acquired a $100 million stake in Bitdeer Technologies Group, the US-listed Bitcoin miner owned by Chinese billionaire Jihan Wu, with an option to purchase an additional $50 million in shares within a year. The two firms entered into a subscription agreement for a private placement of 18.6 million Class A ordinary shares, Bitdeer said in a statement on Friday, which generated $100 million in gross proceeds. There was also a warrant to purchase up to five million in additional shares at $10 per share. The private placement closed on Thursday. Cantor Fitzgerald & Co. acted as the placement agent.

Honasa Consumer, which owns FMCG brands Mamaearth and The Derma Co, on Monday said it has acquired cosmetic formulation maker CosmoGenesis Labs for an undisclosed amount. This acquisition will help the company, which was listed in November last year, to have a significant leap in research-driven innovation, the company said. CosmoGenesis boasts of extensive expertise in various facets of cosmetics, coupled with rich experience in natural & organic formulations, it said. Commenting over the development, Honasa Consumer CIO and Co-Founder Ghazal Alagh said this alliance with CosmoGenesis will exponentially increase Honasa's ability to research new trends with greater efficiencies and help craft best-in-class products.

Balu Forge Industries Ltd (BFIL) has acquired three forging lines having a combined capacity of producing 72,000 tonnes of heavy forged products annually for an undisclosed amount. The units are located in Karnataka, Balu Forge Industries said in a statement on Wednesday. BFIL announces the acquisition of three forging lines in a combination of hammers and presses capable of producing 72,000 tonnes per annum of heavy forged products, it said. BFIL Executive Director Trimaan Chandock said, «The acquisition also provides level playing footing with all global majors in critical engineering product space & equally compete with them at global level in terms of precision, product and pricing. These newly acquired production lines complements the existing precision machining capacity of 32,000 tonne.»

private equity firm Warburg Pincus has fully acquired Shriram Housing Finance Ltd (SHFL) from its promoter Shriram Finance and minority shareholder Valiant Capital Management for Rs 4630 crore, in the largest M&A deal in the housing finance sector.

Vedanta plans to leverage the Tokyo-based company’s technology and manufacturing capabilities to establish its own display fabrication unit in Gujarat. The aim is to meet both Indian and global demand for electronic devices, while also fostering a local hi-tech electronics manufacturing industry. “As a wholly-owned subsidiary, AvanStrate will serve as a strategic asset for Vedanta as the conglomerate looks at playing a critical role in India’s journey towards becoming self-reliant in electronics manufacturing," said Akarsh Hebbar, global managing director, AvanStrate Inc.

C K Birla Group, on Wednesday said it has forayed into the South Indian market with the acquisition of ARMC IVF Fertility Centre for an undisclosed amount. Currently, Birla Fertility & IVF operates 30 centres and with the acquisition, it has expanded its presence across Kerala, Karnataka, and Tamil Nadu, by adding seven more centres and taking the total to 37 outlets across the country. «ARMC IVF and its Founder and Medical Director, Dr KU Kunjimoideen, have served the patients in the southern region with the highest level of fertility care, and through this partnership, we will continue to uphold this commitment,» Avanti Birla, Founder, Birla Fertility & IVF, C K Birla Healthcare, said in a statement. The company plans to expand its footprint to 100 clinics with an investment of over Rs 500 crore over the next-3-4 years.

Reliance Industries Ltd on Wednesday said it has acquired a step-down subsidiary engaged in the manufacture of petrochemicals and hydrogen, for Rs 314.48 crore. In a stock exchange filing, the firm said Reliance Chemicals and Materials Ltd (RCML) is a step-down wholly owned subsidiary of the Company through Reliance Projects & Property Management Services Ltd (RPPMSL). «It is proposed to make RCML a direct wholly owned subsidiary and hence, the company has today, at around 3:15 p.m., acquired a 100 per cent equity stake of RCML from RPPMSL for an aggregate consideration of Rs 314.48 crore,» it said. RCML was incorporated in India on November 2, 2022, to undertake the business of manufacturing petrochemicals, vinyls, hydrogen & its derivatives, rare and industrial gases, bio-energy products and carbon fibre.

NEW DELHI : Birla Fertility & IVF, part of the $2.9 billion CK Birla Group, on Wednesday announced the acquisition of an 86% stake in ARMC IVF, a Kerala-based chain of fertility centres, for an undisclosed amount. Industry sources estimate the deal value to be below ₹100 crore. The transaction was financed through internal accruals.

Delhi…May 3, 2024…KARAM Safety, a leading global PPE player and fall protection solutions provider, is pleased to announce the successful acquisition of Midas Safety India, a prominent player in the hand protection safety products industry. This strategic move marks a significant milestone in KARAM Group's journey towards expanding its presence and enhancing its product offerings.

Paragraph, a web3 publishing startup, has secured $5 million and taken over the blogging platform Mirror.

Gujarat Toolroom on Thursday said it has acquired a 65-acre land parcel in Gujarat to set up a green energy project at an investment of Rs 572 crore. «Upon completion, the Hybrid Power Plant aims to contribute 97.5 megawatts of clean and sustainable electricity to the grid, the company said in an exchange filing. The company said it aims to set up the plant in 3-5 years. The company has acquired 65 acres of land on long-term lease in Gujarat for the establishment of Green Energy Hybrid Power Plant Project worth Rs 5.72 billion, it said.

Indiabulls Real Estate on Tuesday said it has acquired 100 per cent stake in Sky Forest Projects Pvt Ltd from Blackstone at an enterprise value of Rs 647 crore. In a regulatory filing, the company said its subsidiary Indiabulls Constructions has «completed the acquisition of 100 per cent stake, on a fully diluted basis, of Sky Forest Projects, which owns a residential project 'Sky Forest', situated in Lowel Parel, Mumbai, from certain entities controlled by funds managed by Blackstone Inc, for an enterprise value of approximately Rs 646.71 crore». The acquisition would help expand the company's presence in Mumbai and is expected to lead to synergies and add value for all the stakeholders. Indiabulls Real Estate Ltd (IBREL) has posted widening of consolidated net loss at Rs 1,038.65 crore for the last fiscal year. Its net loss stood at Rs 608.38 crore in 2022-23.

₹1,400 crore. The latest acquision will see the Karnataka-based hospital chain increase its bed count from 9,500 currently to more than 10,500, making it the largest healthcare group in the country, it said in a statement. Earlier, Apollo Hospitals was the biggest hospital chain in the country with around 10,103 owned and operated beds as of 31 March 2024.

Ultimate Wallet and its mobile team were acquired by Solana’s leading decentralized exchange (DEX) aggregator, Jupiter, on April 23.

Indo Count, a global bed linen manufacturer and exporter, announced its strategic acquisition of the international home fashion brand Wamsutta from Beyond, Inc.

VerSe Innovation, the parent firm of online news aggregator Dailyhunt and short-video platform Josh, on Wednesday said it has acquired New York-based digital magazine store Magzter. Founded in 2011, homegrown Magzter is a cross-platform, self-service, global digital newsstand with a library of over 8,500 premium magazines and newspapers. The deal, financials of which went undisclosed, marks Dailyhunt’s foray into premium content.

roads and one power transmission asset in India. Larsen & Toubro held a 51% stake in L&TIDPL, while the Canada Pension Plan Investment Board (CPP Investments) owned the remaining 49%. With this transaction, Edelweiss will have a total of 26 assets including 5,000 lane-km of roads, 1,800 circuit km of power transmission assets, and 813 peak MW of renewables, generating a cumulative annual revenue of ₹3,000 crore.

Ghost Kitchens has acquired Ahmedabad-based cloud kitchen firm Shy Tiger Brands. The acquisition is part of Ghost Kitchens’ expansion strategy in Gujarat, it said in a statement. Shy Tiger operates five multi-brand cloud kitchens in Ahmedabad and operates brands like KBOB’s and The Black Chimney. Shy Tiger has an annualised revenue run rate (ARR) of Rs 5 crore, the statement added.

Bankrupt crypto lending firm Genesis has converted approximately 36 million shares of Grayscale Bitcoin Trust (GBTC) into Bitcoin as part of preparations to settle its debts with creditors.