HCL acquires Capital Stream for $40M
HCL Technologies Ltd. said on Wednesday it acquired Capital Stream Inc. for about $40 million in an all-cash deal. HCL, which has offices in Noida, India and Sunnyvale, said the acquisition is part of a structured M&A strategy “in selected industry verticals by using acquisition to either bridge gaps or enhance the capabilities in our service offerings.”
Capital Stream, which was founded in 1995 and has offices in Seattle and Aliso Viejo, focuses on end-to-end lending and straight-through processing to commercial banks and finance companies. Its services include prospecting and sales, credit analysis, due diligence, documentation and portfolio monitoring.
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Sterling group buys Norwegian JB Ugland for $300 million
Chennai firm acquires Norwegian conglomerate’s shipping business. As a part of its foray into the bulk shipping industry, the C Sivasankaran-promoted Sterling group has acquired the shipping business of Norwegian conglomerate JB Ugland for $300 million (Rs 1,200 crore).
With this, Chennai-based Sterling is likely to hold stake in all the three divisions of the conglomerate’s key business arm — JB Ugland Shipping Group and its subsidiaries, JB Ugland Shipping, JB Ugland Dry Bulk and JB Ugland Shipping Singapore.
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Bartronics buys Proximities, SRG for Rs $50 million
Bartronics America, the wholly-owned subsidiary of Hyderabad-based solutions provider for automatic identification and data capture and Radio Frequency IDdentification (RFID), Bartronics India, has acquired the assets of Australia-based Proximities Inc and US-based SRG America Inc for a total consideration of $50 million (around Rs 200 crore).
Proximities Inc, a privately-held company headquartered in Melbourne, develops, markets and supports secure RFID cashless payment, access control and age verification solutions.
Software Research Group Inc (SRG), headquartered in New Jersey, is a multi-national organisation that has successfully served the IT market place for over 10 years.
Above news courtesy: Business Standard