The board of directors of Tech Mahindra has approved the merger by Absorption of 3 subsidiaries of the firm and their respective shareholders. This announcement came alongside the company’s September quarter...
Wipro announces merger of 5 subsidiaries with parent, cites 4 reasons
Bengaluru-based top IT services major Wipro announced the merger of five of its wholly-owned subsidiaries with and into parent entity Wipro Limited. The decision to merge Wipro HR Services, Wipro Overseas IT Services...
NCLAT dismisses insolvency plea against Wipro
The National Company Law Appellate Tribunal has dismissed a call for insolvency proceedings to be initiated against Wipro. The dispute pertains to the supply of goods for a government project implemented by the tech...
Infosys completes acquisition of Danske Bank’s IT centre in India
IT services company Infosys said it has completed the acquisition of Danske Bank’s IT centre in India. Danske Bank chose Infosys as a strategic partner to drive digital transformation initiatives with speed and...
Cloud consulting service provider Plus91 Labs acquires IT company Pixely
Cloud consulting and IT service provider Plus91Labs on Wednesday announced the acquisition of Pixely (Internet X Pte Ltd), which specialises in tailored solutions for the Southeast Asian market. This strategic move...
THL explores sale of healthcare IT firm Nextech
Private equity firm THL Partners is exploring a sale of Nextech Systems LLC that could value the provider of healthcare software at around $1.5 billion, according to people familiar with the matter. THL is working with...
IBM to buy software firm Apptio for $4.6 bn to bolster cloud offering
IBM said on Monday it will acquire cloud software company Apptio from Vista Equity Partners for $4.6 billion in cash, in the latest deal to bolster its capabilities in cloud and automation. Shares of IBM were marginally...
Software company Enfusion draws takeover interest from private equity, Irenic Capital
Software company Enfusion Inc is attracting takeover interest from private equity firms and strategic buyers, several people familiar with the matter said. Enfusion’s management has been approached in recent...
India’s Infosys enters into $454-mln deal with Danske Bank
India’s second-largest IT services firm Infosys said it was selected by Denmark-based Danske Bank as a partner to accelerate the lender’s digital transformation. The deal is valued at $454 million for five...
LIC hikes stake in Tech Mahindra to 9%
India’s largest institutional investor and insurer Life Insurance Corp of India (LIC) has raised its stake in IT bluechip Tech Mahindra Ltd to 8.88% from 6.87% since November, highlighting domestic fund managers’...
Apax leads race for $450-$500M stake buy in IBS
Private equity firm Apax Partners is the front-runner to acquire a significant minority stake in IBS Software from Blackstone and has signed an agreement for exclusive negotiations to buy a 32% stake in the software...
Apax, CVC Capital, TH Lee bid for Blackstone’s 32% stake in IBS Software
Private equity groups Apax Partners, CVC Capital, and Thomas H. Lee Partners (TH Lee) are vying to acquire a minority stake in IBS Software, a leading SaaS solutions provider to the global travel industry, from their...
