close

M&A

M&A

Airtel Secures CCI Nod For Telenor Acquisition

airtel-telenor-acquisition

Country’s largest telecom operator Bharti Airtel today said it has secured approvals from the competition commission of India (CCI) for its proposed acquisition of Telenor

The Telenor acquisition was announced in February this year.

“Competition Commission of India (CCI) vide its letter 5 June 2017 has approved the proposed merger of Telenor (India) Communications Private Limited with Bharti Airtel Limited,” Airtel said in a filing to the BSE India, formerly Bombay Stock Exchange.

In February, when the Telenor acquisition was announced, Airtel had said the deal will be closed in next 12 months. The scheme seems to be in track.

Last week the company had announced to have secured approvals from SEBI and Stock Exchanges for its proposed acquisition of Telenor India.

Because Airtel is a listed company in India, it was mandatory for the telco to get the nod from the exchanges. Now, both National Stock Exchange (NSE) and BSE Limited, earlier Bombay Stock Exchange, have given their approval for the merger besides the Securities and Exchange Board of India (SEBI).

Besides, Bharti Airtel today said that Telenor India and Airtel have today filed the joint company application before the New Delhi Bench of the National Company Law Tribunal for approval of the proposed Scheme of merger.

Both the companies also need approvals including from the Competition Commission of India.

As part of the agreement, Airtel will acquire Telenor India’s running operations in seven circles – Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles represent a high population concentration and therefore offer a high potential for growth.

The proposed acquisition will include transfer of all of Telenor India’s assets and customers, further augmenting Airtel’s overall customer base and network. It will also enable Airtel to further bolster its strong spectrum foot-print in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band. Airtel will ensure quality services to Telenor India’s customers, while offering them the added benefits of its innovative product portfolio, access to superior voice & data services, mobile banking, VAS and domestic/ international roaming facilities. Telenor India’s operations and services will continue as normal until the completion of the transaction.

After Telenor Acquisition, Bharti Airtel had also announced to acquire Tikona Wireless in March this year.

read more
M&ANews

Airtel Gets SEBI And Stock Exchange Nod For Telenor Acquisition

airtel-telenor-acquisition

Country’s largest telecom operator Bharti Airtel today said it has secured approvals from SEBI and Stock Exchanges for its proposed acquisition of Telenor India.

The Telenor acquisition was announced in February this year.

Because Airtel is a listed company in India, it was mandatory for the telco to get the nod from the exchanges. Now, both National Stock Exchange (NSE) and BSE Limited, earlier Bombay Stock Exchange, have given their approval for the merger besides the Securities and Exchange Board of India (SEBI).

Besides, Bharti Airtel today said that Telenor India and Airtel have today filed the joint company application before the New Delhi Bench of the National Company Law Tribunal for approval of the proposed Scheme of merger.

Both the companies also need approvals including from the Competition Commission of India.

In February, when the Telenor acquisition was announced, Airtel had said the deal will be closed in next 12 months. The scheme seems to be in track.

As part of the agreement, Airtel will acquire Telenor India’s running operations in seven circles – Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles represent a high population concentration and therefore offer a high potential for growth.

The proposed acquisition will include transfer of all of Telenor India’s assets and customers, further augmenting Airtel’s overall customer base and network. It will also enable Airtel to further bolster its strong spectrum foot-print in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band. Airtel will ensure quality services to Telenor India’s customers, while offering them the added benefits of its innovative product portfolio, access to superior voice & data services, mobile banking, VAS and domestic/ international roaming facilities. Telenor India’s operations and services will continue as normal until the completion of the transaction.

After Telenor Acquisition, Bharti Airtel had also announced to acquire Tikona Wireless in March this year.

read more
M&A

Red Hat To Acquire Cloud Platform Firm Codenvy

Red-Hat-Office

Open source solutions firm Red Hat is acquiring Codenvy, a provider of cloud-native development tools that enable developers to more easily create modern container-based and cloud-native applications.

By adding Codenvy to its existing portfolio of developer tools and application platforms, including Red Hat JBoss Middleware and Red Hat OpenShift, Red Hat continues its efforts to provide solutions that enable developers to create applications for hybrid cloud environments. Red Hat plans to make Codenvy an integral part of OpenShift.io, Red Hat’s recently announced hosted development environment for building hybrid cloud services on OpenShift.

Historically, software engineers have spent more time each week on administration and other tasks, including environment management, than actual coding. And often, developers can find themselves working on multiple projects concurrently, but in different programming languages. As more IT organizations move to continuous delivery with DevOps and containers to speed the delivery of modern, cloud-native applications, developers have turned to new tools like Codenvy that can enable development teams to build complex applications faster with fewer inconsistencies across environments.

Codenvy, founded in 2013, is the first enterprise offering based on Eclipse Che, the popular open source cloud integrated development environment (IDE) and developer workspace server. Codenvy combines runtimes, projects and an IDE into a cloud-native developer tool that allows multiple developers to collaborate in the same workspace. Codenvy’s portable universal workspaces and cloud IDE address the configuration and sharing challenges created by localhost developer workspaces to allow contributions to a project without having to install software.

Codenvy runs in lightweight Linux containers, enabling instant startup and offering elastic scalability for building and running millions of workspaces. Codenvy’s containerized workspaces are easily accessible via a browser without creating, maintaining and managing development environments.

Codenvy and Red Hat have already been working together to help developers accelerate cloud-native application development. Last year, Codenvy, Red Hat and Microsoft announced a collaborative effort to provide a common way to integrate programming languages across code editors and IDEs. The protocol was aimed at extending developer flexibility and productivity by enabling a rich editing experience within a variety of tools for different programming languages.

In 2016, Red Hat also joined the Eclipse Che community, adding contributors and committers focused on improvements around workspace runtimes, supporting orchestration and composition formats for workspaces and improving the edit / build / test lifecycle of container images from within the IDE. And, Codenvy is already embedded in Red Hat OpenShift, Red Hat’s award-winning container application platform, to make developing, debugging and deploying apps simple.

Now, with Codenvy as part of its Developer portfolio, Red Hat plans to make Eclipse Che and the Codenvy enhancements central to its tooling strategy and extend and integrate the workspace management technology across tools and platforms.

OpenShift.io, which includes Eclipse Che, delivers application development tools and environments needed to help organizations maintain relevancy in a digitally transforming marketplace. OpenShift.io is designed to enable development teams, whether in the same building or across the globe, to more effectively collaborate and create containerized, microservices-based solutions, deployed to hybrid cloud environments.

read more
M&A

Cisco Acquires Artificial Intelligence Firm MindMeld For $125 Mn

cisco-vs-arista-conflict

This will strengthen the company’s new conversational interfaces for collaboration suite

Cisco has announced that it will acquire San Francisco based artificial intelligence firm MindMeld for $125 million. The transaction will be done in cash as well as equity and is expected to be closed by fourth quarter of the current fiscal.

MindMeld has developed a unique AI platform that enables customers to build intelligent and human-like conversational interfaces for any application or device. Through its proprietary machine learning (ML) technology, MindMeld delivers accuracy to help users interact with voice and chat assistants in a more natural way.

“The workplace of the future is one powered by AI,” said Rowan Trollope, senior vice president, Cisco IoT and Applications Group. “This is a significant step toward making that workplace a reality. Integrating MindMeld into the Cisco Spark platform will transform how users interact in Cisco Spark Spaces, Cisco Spark Meetings, and Cisco Spark Care.”

With ten patent assets to its name, MindMeld brings industry-coveted AI, software and engineering talent and expertise to further the evolution of Cisco’s collaboration suite. The MindMeld team will join the Cloud Collaboration group under the leadership of Jens Meggers, senior vice president and general manager, as the Cognitive Collaboration team.

Cisco has been using artificial intelligence (AI) and machine learning (ML) technology in various of its product portfolio including Stealthwatch, Cisco Spark Board, and Cisco Spark Room Kit and features like SpeakerTrack and VoiceTrack across our video portfolio.

As chat and voice quickly become the interfaces of choice, MindMeld’s AI technology will enable Cisco to deliver unique experiences throughout its portfolio, starting with collaboration. This acquisition will power new conversational interfaces for Cisco’s collaboration products, revolutionizing how users will interact with our technology, increasing ease of use, and enabling new cognitive capabilities. For example, users will be able to interact with Cisco Spark via natural language commands, providing an experience that is highly customized to the user and their work. Together, Cisco and MindMeld can bring voice AI to meeting rooms throughout the world, where Cisco’s near-ubiquitous presence of video and telephony hardware will help increase adoption of AI technology across the workplace.

This story is first published in M2MCafe.

read more
M&A

Siemens To Acquire Transportation Firm HaCon

siemens_hacon

Siemens is planning to acquire HaCon, a company headquartered in Hanover, Germany. The two parties have agreed not to disclose financial details. Pending the approval of antitrust authorities, the deal is expected to be concluded in the first half of calendar year 2017. HaCon is a leading international provider of planning, scheduling and information systems for public transportation, mobility and logistics.

Financial details of the transaction were not disclosed.

The company has been a successful player in the mobility business for 30 years. Trip planning software from HaCon is used in more than 25 countries and comprises the center piece of the travel information systems in operation at more than 100 transport companies and associations.

“The acquisition of HaCon will enable us to enter a completely new business area that complements our current portfolio, expanding it to include timetable scheduling as well as trip planning by passengers,” said Jochen Eickholt, CEO of Siemens’ Mobility Division. “With this move, we’re rigorously implementing our digitalization strategy and opening up new growth opportunities for our company along our customers’ value chain,” he added.

“Together with a strong partner like Siemens AG, we’ll be even better equipped to drive the mobility software business, particularly in the global market,” said Michael Frankenberg, CEO of HaCon.

Siemens is already a leading rail automation provider, offering systems up to and including complete driverless operation. A leader in road mobility solutions as well, Siemens plans to expand its intermodal digital offerings with the acquisition of HaCon.

Together with HaCon, Siemens will be able to serve rail infrastructure operators and public transportation companies as a single-source supplier of innovative software solutions for train and route planning, timetable information systems, cutting-edge payment systems and intermodal mobility platforms. In addition, apps for use on passengers’ mobile devices will enhance trip planning, transparency and thus acceptance.

read more
M&A

BICS To Acquire TeleSign Corp For $230 Mn

BICS_telesign_acquisition

 

International wholesale connectivity and interoperability services provider BICS today announced to acquire digital authentication firm TeleSign Corporation for $230 million. The privately held US firm is active in the provision of authentication and mobile identity services to Internet and digital service providers, for $230 million.

As per the transaction deal, BICS will pay an upfront cash consideration of $230 million (on a cash and debt free basis) as well as a variable performance-based earn-out consideration. The deal is expected to be closed by the third quarter of 2017.

The acquisition creates the world’s first end-to-end CPaaS provider, bridging the market leading TeleSign cloud communications platform with one of the largest global carriers in the world.

“We’ve been in the driver’s seat of our industry’s transformation, and we’ve built a solid business of over 1.5 billion euro ($1.6 billion) in yearly turnover, with the ambition of bridging the telecom world with the new and innovative communications providers worldwide”, said Daniel Kurgan, CEO of BICS.

“By combining the power of TeleSign’s advanced cloud communication platform and customer base with BICS’ market-leading footprint and global reach, we are well positioned to lead the development of one of technology’s most exciting sectors,” he added.

Today, companies of all sizes and sectors are embracing cloud communications to create innovative new services and transform how they communicate with their customers. As enterprises move to offer the latest and most secure services, harnessing the power of the cloud has become critical to every organization’s digital transformation. In fact, IDC forecasts the worldwide voice and text messaging communications platform-as-a-service market to grow from $867 million in 2016 to $8.2 billion in 20211.

Communications-Platform-as-a-Service (CPaaS) allows developers and product owners to easily add real-time communications features into their applications and services without having to build backend infrastructure and interfaces. With today’s acquisition, businesses now have a single destination for the world’s first end-to-end CPaaS provider, offering an unparalleled global network and the most reliable and trusted communications platform available.

“TeleSign has a strong business with annual revenues of around $100 million built on security and on a pedigree of innovation, with a strong portfolio of global customers,” said TeleSign’s CEO Aled Miles. “Combining our technology with BICS’ global carrier footprint, mobile operator reach and strong experience, puts us in a class by ourselves. Being the industry’s first end-to-end CPaaS means we can offer an unmatched level of business communications as we help organizations grow, engage and secure their end-users anywhere in the world.”

TeleSign will continue to operate independently as a wholly-owned subsidiary of BICS with the brand name TeleSign and CEO Aled Miles will retain his portfolio. Daniel Kurgan, CEO of BICS, will become the Chairman of TeleSign.

This strategic acquisition will enable BICS to expand from a global carrier to an international digital enabler, and accelerate its strategy to diversify in terms of customers, solutions and geographies, acquiring expertise in mobile identity, account security and cloud communication solutions. This will also enhance BICS’ geographical scope in the Americas and enlarge its customer base towards world-top internet brands to which BICS will sell its messaging, voice and Internet of Things solutions.

read more
M&A

HCL To Acquire Mortgage BPO Firm Urban Fulfillment Services For $30 Mn

hcl-urban-fulfillment-acquisition

HCL Technologies today announced an agreement to acquire Urban Fulfillment Services, a provider of mortgage business process & fulfilment services.

UFS is a Limited Liability Company incorporated in USA, founded in 2002. With over 350highly skilled professionals, UFS operates out of 3 centres in the US, engaged in providing mortgage business process and fulfilment services to its customers.

“The acquisition of Urban Fulfillment Services strengthens HCL’s capabilities in mortgage BPO services, loan fulfillment and debt servicing space,” saidAnoop Tiwari, Corporate Vice President and Global Head – Business Services, HCL Technologies.“Combining UFS’ talent and client portfolio with HCL’s deep industry expertise and business acumen, offers us the unique opportunity to provide platform–based services on our own platform, driving transformation through robotics process automation.”

“The synergies between UFS’ client focused and efficient business processing services and HCL’s technology leadership and financial strength will create an unparalleled competitor and leading provider of state-of-the-art services to the enterprise customers,” said Charles S. Sanders, CEO of Urban Lending Solutions. “I am very excited about joining the HCL team and being part of such a capable and progressive company that will deliver the highest level of services to the industry.”

HCL will be acquiring 100% stake in UFS. The total cash consideration for this transaction is up to $30 million, including contingent payments subject to certain financial milestones.Mortgage servicing is a regulated activity in USA and the transaction would require regulatory approvals for obtaining the licenses.

read more
CorporateM&A

Riverbed To Acquire Cloud-based WiFi Firm Xirrus

Riverbed-Technology

Riverbed Technology Friday announced to acquire California based WiFi networks firm Xirrus,. This acquisition of the privately-held company will help Riverbed expand its SD-WAN (software-defined wide area network) and cloud networking solutions.

Besides these solutions the company will also continue to offer Xirrus as a stand-alone enterprise WLAN solution.

“Xirrus is a strategic acquisition for Riverbed, providing us with a leading enterprise-grade Wi-Fi solution, and enhancing SteelConnect to deliver an unmatched SD-WAN offering that will help further fuel our growth in this hot market,” said Jerry M. Kennelly, Riverbed Chairman and Chief Executive Officer.

The company plans to offer Xirrus solutions through its robust partner ecosystem. The acquisition of Thousand Oaks, California-based Xirrus is expected to close in April 2017.

With this acquisition, Riverbed’s flagship SD-WAN solution SteelConnect is expected to get a shot in the arm. By adding Xirrus, the power of policy-based orchestration by SteelConnect will be further extended to the wireless edge.

“Legacy approaches to network management have become completely untenable. IT must move beyond the days of managing individual network devices using arcane CLI commands and scripts and instead move to software-defined approaches that are based on global policies, automation and orchestration,” said Paul O’Farrell, Senior Vice President of the Riverbed SteelConnect, SteelHead and SteelFusion Business Unit.

Xirrus is recognized by Gartner in the “Visionaries” quadrant of the Magic Quadrant for the most recent Wired and Wireless LAN Access Infrastructure report. With solutions deployed on tens of thousands of networks and hundreds of thousands of cloud instances, Xirrus customers include some of the best known global companies and recognized brand names, including Microsoft, University of Mississippi, Liverpool Football Club and Paul Hastings Law Firm.

“Together with Riverbed, we embrace a tremendous opportunity to create the world’s first SD-WAN solution that covers the core to the edge of the network,” said Shane Buckley, CEO of Xirrus.

In January 2016, Riverbed acquired Ocedo Networks, a leading SD-WAN provider to accelerate the delivery of its next-gen networking solutions, and launched SteelConnect as an early access offering in April 2016, which included “one-click” connectivity to AWS.

read more
M&A

CA Technologies Completes Acquisition of Veracode

CA-Veracode-acquisition

CA Technologies today announced it has completed the acquisition of Veracode, a leader in securing web, mobile and third-party applications across the software development lifecycle. The acquisition establishes CA Technologies as a leader in the Secure DevOps market, bridges its Security business with its broad DevOps portfolio and adds to its growing SaaS business.

With the completion of the transaction, Bob Brennan, former chief executive officer, is now general manager of the Veracode business in the company’s product development organization reporting to Ayman Sayed, CA president and chief product officer.

“We provide over 1400 small and large enterprise customers the security they need to confidently innovate with the web and mobile applications they build, buy and assemble, as well as the components they integrate into their environments,” Brennan said.

“By joining forces with CA Technologies, we will continue to better address growing security concerns, and enable them to accelerate delivery of secure software applications that can create new business value.”

Under the terms of the agreement, the transaction is valued at approximately $614 million in cash.

“The acquisition establishes CA Technologies as a leader in the Secure DevOps market, bridges its Security business with its broad DevOps portfolio and adds to its growing SaaS business,” CA Technologies had said in a statement.

CA will provide detail regarding the acquisition’s impact to guidance when it reports fourth quarter earnings in May.

read more
M&A

Airtel Sells 10.3% Stake In Bharti Infratel To KKR & CPPIB For Rs 6194 Crore

bharti-infratel

Bharti Airtel today said it has sold 10.3% stake in its tower arm Bharti Infratel to a consortium for Rs 1694 crore. The consortium is advised by KKR and Canada Pension Plan Investment Borad (CPPIB) and the shares were sold at Rs 325 each.

Bharti Airtel will primarily use the proceeds from this sale to reduce its debt. Following the closure of this transaction, Bharti Airtel’s equity holding in Bharti Infratel stands at 61.7%, and that of KKR and CPPIB at 10.3%.

Sunil Bharti Mittal, Chairman, Bharti Airtel, said, “This investment by a consortium of marquee long-term investors underlines the confidence of the global investors in India’s growth story and the government’s Digital India initiative in particular. It further reinforces the positive outlook for the telecom infrastructure sector. The long-term investment horizon of the investors aligns well with the capital needs and business cycles of Bharti Infratel.”

This transaction makes it KKR’s second investment in Bharti Infratel. Previously, the funds managed by KKR had invested in the infrastructure firm  during the period 2008 to 2015. Post this transaction, the stake held by KKR and CPPIB (combined) will be the single largest public shareholder block.

read more
1 2 3 26
Page 1 of 26