|
|
|
| |
| EmergingMarketsNOW |
 |
|
|
| Thursday, July 24, 2008 |
 |
|
|
|
|
Valedo to Acquire BTI from European Media Company
|
Valedo, a Sweden-based VC fund, entered into an agreement with ProSiebenSat.1 Media AG (a European media conglomerate) to acquire Sweden’s Broadcast Text International (BTI). The financials were not disclosed. The acquisition will be routed through Valedo Partners Fund I AB, established in 2006. BTI will use the funding for expansion plans. BTI provides subtitling and dubbing services in about 40 languages to broadcasters and media companies. It has a headcount of 110, with offices in eight countries.
Valedo is an independent PE fund, with a committed capital of USD 166.3 million; it invests in small- and mid-size high-quality companies in the Nordic region. This is the company’s fourth investment.
Established in 2000 and based in Germany, ProSiebenSat.1 Media operates commercial television, premium pay channels, radio stations, and related print businesses.
|
|
|
Yatra Capital to Invest $7Mn in Upcoming Taj Hotel in Calcutta
|
Yatra Capital, a US-based PE fund, is acquiring a 40 percent stake in Jalan Intercontinental Hotels Pvt Ltd, which is constructing a 200-room business hotel in Kolkata. The hotel will be managed by Indian Hotel Ltd under the Taj Gateway brand. Yatra, which invests in India through Mauritius-based fund—K2 Properties Limited––will invest USD 7 million in this hotel.
The hotel will cover a 1.9-acre plot located at the junction of Rashbehari Connector and EM Bypass in Kolkata. It will cater to the needs of IT/ITES companies situated in and around IT parks and SEZs located in the region.
The deal will mark Yatra’s third investment in the region, following investment in Riverbank Holdings and another IT special economic zone through a JV with Forum Park.
|
|
Valedo to Acquire BTI from European Media Company
|
Valedo, a Sweden-based VC fund, entered into an agreement with ProSiebenSat.1 Media AG (a European media conglomerate) to acquire Sweden’s Broadcast Text International (BTI). The financials were not disclosed. The acquisition will be routed through Valedo Partners Fund I AB, established in 2006. BTI will use the funding for expansion plans. BTI provides subtitling and dubbing services in about 40 languages to broadcasters and media companies. It has a headcount of 110, with offices in eight countries.
Valedo is an independent PE fund, with a committed capital of USD 166.3 million; it invests in small- and mid-size high-quality companies in the Nordic region. This is the company’s fourth investment.
Established in 2000 and based in Germany, ProSiebenSat.1 Media operates commercial television, premium pay channels, radio stations, and related print businesses.
|
|
Silex to Raise $25Mn from Nordic PE Firms
|
Priveq Investments and Northzone Ventures (a Nordic-based PE firm), along with existing investor CapMan (a Nordic-based asset manager), will invest USD 24.9 million in Silex Systems, an Australia-based manufacturer of micro-electromechanical systems (MEMS).
Founded in 2000, Silex has about 70 clients. It operates in two core business divisions—SILEX Laser Isotope Separation Technology and Translucent Band-gap Engineered Materials Technology.
Established in 1989, CapMan has funds worth USD 4.8 billion under management. The company has offices in Copenhagen, Helsinki, Oslo, Stockholm, and Moscow.
|
|
DRL to Buy-Back Shares in Perlecan Pharma from Citigroup, ICICI Venture
|
Dr. Reddy’s Laboratories (DRL), a Hyderabad-based leading pharmaceutical company, received Board approval to buy-back shares worth USD 18 million in its research and development firm, Perlecan Pharma, from India-based PE investors––ICICI Venture and Citigroup Venture Capital International (CVCI). Both the investors hold a 43 percent stake each in Perlecan. Cash, existing reserves, and internal accruals will be used by DRL for the buyback. Post-buyback, Dr Reddy will control a 100 percent stake in the firm.
Perlecan was established in 2005 with funding from Citigroup Venture and ICICI Venture . DRL made an anchor investment of USD 7.5 million in Perlecan Pharma apart from transferring four of its new chemical entities to Perlecan.
Founded in 1984, DRL has headquarters in India, with wholly-owned subsidiaries in the US, the UK, Russia, Germany, and Brazil; it has a presence through JVs in China, South Africa, and Australia.
|
|
| Private Equity and M&A Activity |
3i Group Invests $220Mn in Labco
|
3i Group acquired a minority stake in Labco, a leading pan-European medical diagnostics network, for USD 220 million. 3i led investors including TCR Capital, Natixis Investment Partners, and CIC Finance, who committed USD 94.5 million, while healthcare professionals and Labco managers invested another USD 91.3 million. In addition, Labco secured USD 472.5 million in senior debt, with a possible extension of USD 78.7 million, and USD 189 million in mezzanine financing. Following the deal, 3i partners Denis Ribon and Richard Bishop will join Labco’s Board.
Established in 2003, Labco operates above 250 laboratories in 6 countries, providing quality diagnostic services to patients, general practitioners, and hospitals. The proceeds will assist Labco in international expansion, funding growth in the company's core markets of France, Spain, Portugal, Germany, Italy, and Belgium.
|
|
Fluxome Sciences Raises $20Mn in Series B Financing
|
Fluxome Sciences AS, a fast-growing Danish-based industrial biotechnology company, received USD 20.4 million in it second round of funding; it was led by Seventure Partners and included Incuba Venture, Vecata A/S (Denmark), and Capricorn Venture Partners' Capricorn Cleantech Fund.
Fluxome uses engineered yeasts for developing and producing nutraceutical ingredients that are used in dietary supplements and foods. Utilizing this financing, the company plans to advertise its first product, resveratrol, in the US in late-2008. The company employs 25 people, and is based in Lyngby.
Seventure Partners is a leading VC firm investing in the innovative technology business since 1997. Capricorn Venture Partners is a pan-European manager of VC funds seeking to invest in technology-based growth companies. Incuba Venture I K/S is a Danish-based VC company.
|
|
TutorVista Receives $18-Mn PE Funding
|
TutorVista.com, an India-based global education services company, raised USD 18 million from US-based VC firms—Sequoia Capital and LightSpeed Venture Partners. The funds will be used for expansion into a hybrid (online/offline) education model. The company intends to raise another USD 15 million from strategic investors.
TutorVista.com, a company operating in 23 Indian cities, employs above 800 teachers tutoring over 10,000 students across the globe, largely in the US. The two-and-a-half-year-old company acquired Edurite, an India-based education services company, in November 2007.
Founded in 1972, Sequoia Capital has offices in the US, China, India, and Israel. LightSpeed Venture Partners has USD 2 billion committed capital under management.
|
|
Ashmore Group Buys Majority Stake in Petron
|
Ashmore Group, a UK-based investment manager, acquired a 50.57 percent stake in Petron, a Philippines-based oil refining and marketing company. The Philippine government holds 40 percent shares, while the remaining is held by small-scale investors. Post–acquisition, Ashmore will be a long-term shareholder in Petron. The move is in line with Petron’s strategy to boost its revenue to compete with soaring oil and food prices.
Established in 1933, Petron operates a refinery in Bataan (Philippines), with a rated capacity of 180,000 barrels a day. Listed on the London Stock Exchange in 2006, Ashmore Group manages USD 37.5 billion in pooled funds, segregated accounts, and structured products.
|
|
Vienna Hotel Group Receives $50Mn in Funding
|
Shenzhen-based Vienna Hotel Group received USD 50 million in its second round of financing from a French PE firm (name undisclosed). It received USD 20 million in its first round of financing from SAIF. The funding will be used for assistance in listing on Shenzhen Stock Exchange by the 2H 2009.
Established in 1993 and based in Shenzhen, Vienna currently has 15 outlets in China in cities such as Shenzhen, Beijing, Shanghai, and Tianjin with another 17 under construction.
|
|
| Offshoring and Outsourcing News |
IBM, Romero Group Sign ITO Contract
|
Romero Group, Peru’s largest private business group, awarded a five-year information technology outsourcing (ITO) services contract to IBM in April 2008. The financial details were not disclosed.
The contract entails IBM to offer IT infrastructure outsourcing services including a solution that uses external storage and UNIX processing technologies. Services offered by the company include application outsourcing services. In addition, IBM will offer services for Intel and Power Systems platforms along with in-store equipment maintenance services to Romero.
|
|
Azure Expands Operations in India
|
Azure Knowledge Corporation, one of the leading Indian IT/ITeS companies, opened a facility in Pune. The move is in line with the company’s strategy to expand services portfolio as well as clientele. The Pune-based facility has a headcount of over 100; it will offer job opportunities to approximately 100 professionals by the end of FY 2008–09. Investment made in the facility was not disclosed. Other facilities of the company are situated in Philadelphia (the US), Guangzhou (China), and Ahmedabad (India).
The company selected Pune due to the presence of a large pool of skilled resources in the financial services sector. In addition, the company is planning to start operations in Mumbai, followed by two other Indian cities by the end of FY 2008–09.
Headquartered in Ahmedabad (India), Azure is a leading IT/ITeS services provider with over 2,200 professionals. The company offers services in about 15 languages to clients based in 75 countries. It offers a wide range of IT, financial, and knowledge services to Fortune 500 global companies including Top 20 Wall Street Firms and Top 50 Global Financial Companies.
|
|
UnitedLex to Expand Indian Operations
|
UnitedLex announced plans to expand Indian operations; for this, it plans to raise about USD 5.8 million from Canaan Partners and Helion Venture Partners. Of this, about USD 1.8 million will be invested to develop LexBase, a technology platform for the legal industry.
Anup Bhasin, the COO of UnitedLex, stated that the company will establish another facility in Gurgaon, Haryana, by end-September 2008 for strengthening its global delivery network. In addition, the company will recruit over 800 professionals in 2009 to increase its employee base to approximately 1,000.
Headquartered in the US, UnitedLex is a leading legal process outsourcing services provider. The company offers services in the areas of intellectual property, contract management, litigation support, and immigration support.
|
|
Infosys Deploys Finacle at ANZ’s Operations in Laos
|
Infosys Technologies, an Indian IT services provider, announced that it has deployed its Finacle banking software (Version 10) at the Laos operations of ANZ bank. The solution offers Web-based awareness technology and SOA architecture. The financial terms of the contract were not disclosed. The implementation of Finacle will assist ANZ clients to access their account balances in real-time along with enabling quick account processing and ensuring a wider range of products and services.
The deployment marks the bank’s strategy to install the platform across its locations over the next three years.
|
|
|