EmergingMarketsNOW By Evalueserve

Author - EmergingMarketsNOW — Thu, 19 Nov 2009 11:14:15 GMT

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Friday, November 20, 2009

Top Story of the Day
Advent International to Acquire Majority Stake in Devin

Private Equity and M&A Activity
Kaixin001.com Concludes Second Round Investment at $20Mn
Advent International to Acquire Majority Stake in Devin
Manthan Systems Raises $15Mn
Israel-based Axxana Raises $9Mn
3TS Capital Partners Acquires Stake in InternetCorp
Montnets Receives $5Mn from Tiantu, SCG, and Green Pine
Shedewang Starts Third Round Fund Raising

Offshoring and Outsourcing News
Infosys and Georgia-Pacific Ink Contract
Infocrossing Signs 5-Yr Agreement with Cliffs Natural Resources

Top Story of the Day

Advent International to Acquire Majority Stake in Devin
20/11/2009

Advent International has bought a 70 percent stake in Bulgaria-based mineral water bottler and soft drink distributor Devin from Soravia Group. Devin has been valued at USD 59.6 million and its management will retain 6.7 percent share, while Advent will launch a takeover bid for the remaining shares of Devin traded on the Bulgarian Stock Exchange.

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Private Equity and M&A Activity

Kaixin001.com Concludes Second Round Investment at $20Mn
20/11/2009

Kaixinren InfoTech (Kaixin001.com) announced that it has concluded its second round fund-raising at USD 20 million. The investment is led by Qiming Venture Partners, followed by Northern Light Venture Capital (NLVC) and Sina Corporation.

Founded in 2005 and headquartered in Beijing, NLVC is a VC firm investing in early- and growth-stage technology companies.

Founded in 2006, Qiming is a VC firm with offices in Shanghai and Seattle. It focuses on investing in high-growth Chinese companies in the communication networks, media, health care, and semiconductor sectors.

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Advent International to Acquire Majority Stake in Devin
20/11/2009

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Manthan Systems Raises $15Mn
20/11/2009

India-based Manthan Systems has raised USD 15 million in a series-B funding round which was led by Fidelity International’s venture arm, with existing shareholders IDG Ventures India and DFJ ePlanet Ventures also participating. Raj Dugar, the managing director at Fidelity International’s private equity advisory company in India came aboard Manthan’s board of directors.

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Israel-based Axxana Raises $9Mn
20/11/2009

Israel-based Data recovery solutions developer Axxana Inc has secured USD 9 million in its second funding round from Carmel Ventures who led the round and Axxana's current investors Gemini Israel Funds and private investor Moshe Yanai. The funds would be used to market its Phoenix System black box enterprise data recorder which offers 100% data disaster recovery with zero data loss over any distance.

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3TS Capital Partners Acquires Stake in InternetCorp
20/11/2009

3TS Capital Partners acquired a minority stake in Romania-based InternetCorp, which is an independent online media company. Financial terms of the deal were not disclosed. InternetCorp controls market share of more than 10 percent of the total Romanian online advertising market.

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Montnets Receives $5Mn from Tiantu, SCG, and Green Pine
20/11/2009

Shenzhen-based Montnets Technology (Montnets) won USD 5 million from Tiantu Capital (Tiantu), Shenzhen Capital Group (SCG), and Green Pine Capital Partners (Green Pine). The funding will be used in 3G product development and overseas market expansion.

Montnets is mainly engaged in mobile data management and software development.

Founded in 2002, Tiantu is engaged in VC investment focusing on emerging SMEs, PE investment focusing on pre-IPO of mature enterprises, and asset management focusing on secondary stock market investment in mainland China and Hong Kong.

Founded in 1999, SCG is among the top VC investors in mainland China, with 20 local offices, 80 professionals, and registered capital of USD 234.56 million.

Green Pine is a Shenzhen-based VC firm with USD 293 million assets under management.

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Shedewang Starts Third Round Fund Raising
20/11/2009

Shedewang.com (Shedewang), the leading unused goods trading website in mainland China, announced that it has started its third-round financing, targeting tens of millions US dollars. The company plans to launch a large scale market expansion after concluding the fund-raising in the first quarter of 2010.

Founded in 2008, Shedewang.com currently has approximately two million users.

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Offshoring and Outsourcing News

Infosys and Georgia-Pacific Ink Contract
20/11/2009

Infosys Technologies has signed a contract with Georgia-Pacific, a US-based forest and consumer products company; under which, Infosys will implement its supply chain visibility and collaboration suite. The project entails installing an Enterprise Procurement Data Warehouse that will provide standard and ad-hoc reporting, dashboard, and scorecard capabilities. This will assist procurement professionals with a focus on contract adherence, faster time to market, and lower cost of ownership.

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Infocrossing Signs 5-Yr Agreement with Cliffs Natural Resources
20/11/2009

Infocrossing, a Wipro company, has signed a five-year deal with US-based mining and natural resources company, Cliffs Natural Resources to provide infrastructure services. Under the terms of the agreement, Infocrossing will offer server, storage, and architecture services from its data centers to cliff. It will also offer service desk and desktop support to employees across Cliffs’ multiple North American administrative and operating locations.

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