SoftBank back at deal counter with Icertis deal talks
SoftBank, one of the largest technology investors, is looking to return to the deal counter in India after largely focusing on exits from listed bets last year.
Lok Sabha Voting Phase 3: All the latest news
The Tokyo-based investment firm has begun early-stage talks to double down on existing software portfolio firm Icertis, which is stitching up a new funding round of about $150 million (about Rs 1,252 crore), in a secondary share sale, said people familiar with the development.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIIT DelhiCertificate Programme in Data Science & Machine LearningVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitThe talks would progress depending on valuation to a large extent, they said.
The new funding round may see other existing backers also invest more in Icertis, they said, as some early shareholders are looking to make an exit from the 15-year-old firm.
Icertis was last valued at $5 billion.
SoftBank’s Vision Fund has also finalised plans for investing in ecommerce firm Meesho as part of a broader funding round. With several unicorns under its portfolio, the Japanese investor is actively reviewing potential new firms as well after a lull of more than a year – when SoftBank and Tiger Global didn’t make any deals.
“The talks are in early stages and the key to the deal would be the valuation and the price discovery is yet to be finalised,” said one
