List of Mergers & Acquisitions (Jan - March 2017)

March 20, 2017: 

Vodafone India and Idea Cellular Merger:

British telecom major Vodafone is to merge its operations in India with Aditya Birla Group’s Idea Cellular. The boards of Vodafone India, and Idea Cellular – India’s second largest and the third largest telecom operators respectively approved the merger. Vodafone will own 45.1% of combined company after transferring around 4.9 percent to Idea founders for Rs 3,874 crore in cash whereas Idea founders will hold 26 percent of the combined entity. The prime motto of this merger is to strengthen the operations in order to compete against the intense price war triggered by Mukesh Ambani-led Reliance Jio. After the merger, the combined entity would become # 1 telecom company in India on the basis of number of subscribers having nearly 40 Crores of subscribers – 35% of all telecom subscribers in India and 41% of the telecom market revenue share – dislodging Bharti Airtel to # 2 that had been at the top since 2001 would now be enjoying 33% telecom market revenue share.

Aditya Birla Group’s current Chairman Kumar Mangalam Birla is to be the new Chairman of the merged entity. Chief Financial Officer (CFO) would be appointed by Vodafone whereas the Chief Executive Officer (CEO) will be named jointly after the merger. Vodafone Group’s Chief Executive Vittorio Colao and Aditya Birla Group Chairman Kumar Mangalam Birla accompanied by Vodafone India Managing Director Sunil Sood and Idea Cellular Managing Director Himanshu Kapania met Prime Minister Narendra Modi on March 21, 2017 to apprise him on the merger deal and to seek his Government’s support in facilitating speedy regulatory clearances to conclude the approved merger. Even then the merger is expected to be completed in 2018 after all the statutory formalities. Prior to that Vodafone India and Idea Cellular will be selling off their standalone tower assets – 42% share of Vodafone India and 11.15% of Idea Cellular in Indus Towers. Till the merger is completely completed, both Vodafone India and Idea Cellular will continue operating separately. Vodafone has also made it clear that its ongoing tax dispute with the Indian government will not come in the way of its merger with Idea Cellular. According to Income tax authorities Vodafone India needs to pay capital gains tax of nearly Rs 20,000 Crores for acquiring assets from Hutchison Whampoa Ltd. in 2007.

Piramal Enterprises completes acquisition of business from Mallinckrodt LLC:

Piramal had on January 31, 2017 announced the acquisition for a cash consideration of USD 171 million for a portfolio of drugs for spasticity and pain management from Mallinckrodt LLC and now it announced completion of the said acquisition. Piramal is the world’s third largest producer of inhaled medical anesthetics. The portfolio acquired includes two severe spasticity management products, which are currently marketed in the US and two pain management products, which are under development at present.

March 17, 2017: 

Taro Pharma acquires Canada’s Thallion Pharmaceuticals:

Taro Pharma, an indirect arm of Sun Pharmaceutical Industries is to fully acquire Canada’s Thallion Pharmaceuticals for 2.7 million Canadian dollars. Taro Pharmaceuticals Inc (Canada) has entered into an agreement to acquire all of the issued and outstanding shares of Thallion Pharmaceuticals, a Canadian pharmaceutical corporation. The acquisition after fulfilling all statutory obligations would come into effect from April 1, 2019. With this Sun Pharmaceutical will have access to technology for the treatment of Coli-induced hemolytic uremic syndrome that leads to kidney failure.

March 15, 2017: 

WNS acquires HealthHelp:

Nasdaq-listed business process management company WNS acquired HealthHelp to enhance its services in the healthcare segment. WNS will pay USD 95 million – approximately Rs. 632 Crores to acquire Texas-based HealthHelp, which is working in the segment of specialty healthcare areas like radiology, cardiology, oncology, sleep care, orthopedics, and pain management.

March 07, 2017: 

Cyient completes acquisition of Certon Software:

Cyient, an IT consulting and Software Company, announced the completion of acquisition of US-based Certon Software. Earlier, on January 23, 2017, Cyient had signed the agreement to acquire Certon. With the acquisition, Certon will become a wholly-owned subsidiary of Cyient. The said acquisition will enable Cyient to manufacture the safety-critical products for its medical, aerospace and transportation clients. The amount involved was not disclosed in the press release.

March 06, 2017: 

Tech Mahindra Ltd acquires CJS Solutions:

Tech Mahindra Ltd – an Indian company in the software segment acquired CJS Solutions Group LLC - US-based healthcare information technology consulting firm for USD 110 million. With this acquisition, Tech Mahindra Ltd. would have the ability to cross-sell Tech Mahindra’s services to a new set of clients of CJS Solutions and thereby boost its revenues.

March 05, 2017:

Dr. Reddy Laboratories Ltd acquires Imperial Credit Private Ltd:

Dr Reddy's Laboratories Ltd – Hyderabad based pharmaceutical company announced the acquisition of Imperial Credit Private Ltd, a non-banking finance company, based in Kolkata for Rs. 2.05 Crores. Dr. Reddy proposes to undertake the group's captive financial activities through the new entity.

March 01, 2017: 

Cognizant Technology Solutions acquires Brilliant Service Co. Ltd:

Cognizant Technology Solutions acquired Japan-based intelligent products and solutions company Brilliant Service Co Ltd, specializing in digital strategy, product design and engineering, and enterprise mobility, for an undisclosed amount. As part of the acquisition, a team of 70 professionals from the company will join Cognizant.

February 28, 2017: 

Sony Corporation acquires TEN Sports from Zee:

Sony Pictures Networks India - a wholly-owned subsidiary of Sony Corporation announced the completion of the first phase of the two-phased acquisition of “TEN Sports” from Zee Entertainment Enterprises Limited. This acquisition was formally agreed on August 31, 2016. The first phase of the two-phase acquisition of the “TEN Sports” was completed in a majority of the countries and territories where “TEN Sports” operates, including India. An amount of USD 330 million was paid to Zee by Sony. Certain other operations and assets will be included in the final phase of the acquisition, expected to be completed in the next few months.

February 23, 2017: 

Bharti Airtel acquires Telenor India:

Telecom operator Bharti Airtel announced that it had entered into a definitive agreement with Telenor South Asia Investments Pvt Ltd to acquire Telenor (India) Communications Private Limited. Airtel is currently providing telecom services in India to over 269 million subscribers and a revenue market share of nearly 33 per cent. As the new owner, Airtel will take over Telenor India’s spectrum, licenses and operations, including its employees and customer base of 44 million and will acquire Telenor India’s running operations in Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. Telenor India’s operations and services will continue as normal until the completion of the transaction. With effect from 01.04.2017, Telenor India will be treated as an asset held for sale.

February 21, 2017: 

Havells India acquires Lloyd Electric’s Consumer Durable Business:

Havells India announced the acquisition of Lloyd Electric's consumer durable business for an enterprise value of Rs 1600 Crores. Havells will gain Lloyd's intellectual property, manpower and distribution network. The deal is expected to be completed by March-end 2017. The revenue break-up for Lloyd Electric's consumer durable business is: air conditioners accounting nearly 69% of business, TV panels nearly 23% and the rest from washing machine & appliances.

February 09, 2017: 

Aurobindo Pharma acquires part of business from TL Biopharmaceutical AG of Switzerland:

Aurobindo Pharma Limited announced that it had acquired four cell culture derived biosimilar products from TL Biopharmaceutical AG of Switzerland. The company, however, did not disclose the deal value. As part of the agreement, TL will supply all the developmental data for four molecules and Aurobindo will develop, commercialize and market these products globally. Aurobindo has set up a fully functional R&D center for biologics development and is also establishing a state-of-the-art manufacturing facility in Hyderabad and is expected to be ready by the second quarter of the financial year 2017-18. This acquisition is in line with the strategy of Aurobindo of investing in complex pharmaceutical products.

February 08, 2017: 

Nuance Communications acquires mCarbon Tech Innovations:

Nasdaq-listed voice and speech recognition company Nuance Communications has acquired Noida-based mobile value-added services venture mCarbon Tech Innovations for USD 36 million. There are 250 employees who work for mCarbon. The employees will now continue their operations under Nuance Communications post the acquisition.

January 25, 2017: 

Wipro Ltd acquires InfoSERVER SA:

Wipro Ltd - India’s third-largest software services exporter, announced that it has entered into a pact to acquire Brazilian IT firm InfoSERVER SA for $8.7 million to expand its presence in Latin America. InfoSERVER is focused on the Brazilian market and provides custom application development and software deployment services mainly to banks, financial services and insurance companies. The acquisition is in line with Wipro’s aim to expand its presence in the Latin America market, the company said in a statement.

January 19, 2017: 

Cadila Healthcare Ltd acquires Sentynl Therapeutics Inc:

Cadila Healthcare Ltd acquired US-based specialty pharmaceutical company Sentynl Therapeutics Inc., engaged in marketing of products in the pain management segment, for an undisclosed amount. This acquisition marks the Ahmedabad-headquartered company’s foray into the specialty pain management drug market in the US, as it gains access to Sentynl’s distribution network and large healthcare specialists. Acquisition of Sentynl is in line with Cadila Healthcare’s strategy to enter the specialty drugs market in the USA.

January 17, 2017: 

Byju acquires Vidyartha:

Education venture Byju has acquired Bengaluru-based career guidance and academic profile builder Vidyartha for nearly Rs 50 Crores. Vidyartha's 20-member team will continue to work under a separate brand name post the acquisition. Byju, founded in 2007, has 3.3 lakh subscribers and 7 million in app downloads. The app helps with learning for school students as well as for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT. Vidyartha focuses on deep profiling of students, creating their personalized learning plan and highlighting their learning gaps.

January 10, 2017: 

WNS Global Services acquires Denali Sourcing Services:

Business process Management Company WNS Global Services announced acquisition of US-based Denali Sourcing Services for $40 million to improve its capabilities in the sourcing and procurement capabilities. All the 200 staffers of Denali including the founders will be absorbed into WNS.

January 10, 2017: merges with PropTiger:

News Corp.-backed real estate portal PropTiger stated that Mumbai-based will merge with it in an all stock deal, and that it will receive $50 million in fresh funds from News Corp.’s REA Group Ltd and $5 million from SoftBank Group. PropTiger will retain the brand. The joint entity will currently be the only player in India offering the full range of online and offline services in the real estate space, such as personalized search, virtual viewing, site visits, legal and financial diligence, negotiations, property registration, home loans and post- sales service.

January 05, 2017: 

Freshdesk acquires Pipemonk:

Freshdesk, a cloud based customer service software provider, acquired Pipemonk, a data integration platform that works on the software-as-a-service model and allows companies to synchronize and move data among multiple cloud apps quickly and easily.
Pipemonk serves more than 400 clients globally. At Freshdesk, the Pipemonk team of 13 professionals will work on strengthening integrations. Freshdesk has 80,000 customers globally, including the likes of Honda, 3M and Cisco.

January 02, 2017: 

Tata AutoComp Systems Ltd completes acquisition of TitanX:

Tata AutoComp Systems Ltd, Tata group’s auto component-making firm, completed the acquisition of TitanX, a global engine cooling supplier - according to the press release issued by Tata AutoComp Systems. It had announced the plans to buy out the unit in August 2016. The company did not disclose the value of the deal. The acquisition is in line with its strategy of expanding globally and fortifying presence in the cooling and emission control segments, the company said. 

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