November 25th, 2023
MergerDomo’s weekly Newsletter brings you the latest on M&As, JVs, Investments and noteworthy partnerships that are shaping the future of businesses in India.
This week's M&A highlights in India feature significant deals, such as -
Adani Power's promoter entities, Ardour Investment Holding and Emerging Market Investment DMCC, steadily acquired an additional 2.06% stake between September and November, raising cumulative promoter group holding to 71.14%. Earlier in September, Fortitude Trade and Investment Ltd and Emerging Market Investment DMCC added 2.2%. Despite a 0.6% dip in Adani Power shares, the stock has yielded over 29% returns in 2023. The company's robust Q3 earnings, reporting a ninefold YoY surge in net profit to INR 6,594 crore, underscore its financial strength amidst strategic promoter moves.
Read more lessTitan, a Tata-backed venture, secures Competition Commission of India's approval to acquire an additional 27.18% stake in CaratLane for INR 4,621 crore. The deal values CaratLane at INR 17,000 crore. Titan, aiming for 100% ownership, plans an ESOP buyback, promising employees a windfall. With a market cap surpassing INR 3 lakh crore, Titan emerges as the 17th most valuable company in India. This strategic move strengthens Titan's dominance in the gems and jewelry sector, building on their substantial growth since the initial investment in 2016.
Read more lessAdobe makes its foray into generative AI by acquiring Bengaluru-based startup Rephrase.ai, a text-to-video generation platform. While the final deal size remains undisclosed, Rephrase.ai's investors are expected to receive a full cash exit, with founders compensated in cash and Adobe stock. This marks Adobe's first deal in the generative AI and video-tooling space, showcasing its commitment to innovation. The acquisition will integrate Rephrase's technology with Adobe's Creative Cloud, enhancing its generative video capabilities. With this strategic move, Adobe aims to deliver advanced AI-powered video content tools to its customers, solidifying its position in the evolving tech landscape.
Read more lessBizongo, the B2B vendor-digitisation platform backed by Tiger Global, has acquired FactoryPlus, a factory management app for MSMEs. The deal marks an exit for Better Capital and Titan Capital, seed-stage investors in FactoryPlus. Bizongo, which raised USD 50 million in October, strategically integrates FactoryPlus to enhance its platform's capabilities, offering manufacturers AI-powered solutions for raw material procurement and embedded financing. This move follows Bizongo's 2022 acquisitions of Hexa and Clean Slate Technologies. As Bizongo evolves its focus from unsecured financing to raw material sourcing, the FactoryPlus integration aims to revolutionize technology-driven efficiency in factories and foster data-driven industrial supply chains.
Read more lessInternational life sciences company GBA Group has acquired a substantial stake in Eureka Analytical Services, marking its entry into India's testing market. Eureka, a fast-growing testing lab, is a top player in fields like residue analysis and product segments such as tea and spices. The collaboration aims to strengthen GBA's presence in India, explore growth opportunities in food and pharma testing, and leverage Eureka's expertise to enhance international offerings. This strategic move aligns with GBA's plans for continued investment in India's Testing-Inspection-Certification (TIC) industry.
Read more lessJetSynthesys and Digital Hearts Holdings (DHH) have entered a strategic partnership, with DHH investing in JetSynthesys Japan. The collaboration will leverage DHH's expertise in quality assurance, customer support, and marketing to create global products. Additionally, a 50:50 joint venture in India will expand debugging businesses globally. Rajan Navani, CEO of JetSynthesys, anticipates the partnership to strengthen their international footprint and introduce cutting-edge global gaming titles. India's booming gaming market and Japan's status as the third-largest globally position the collaboration for substantial growth and innovative gaming experiences.
Read more lessThis week's M&A news reflects the dynamic nature of India's corporate landscape, featuring diverse transactions in the Energy and Power, Retails, Technology, E- Commerce and supplychain, and Gamingsectors. Stay updated on India's M&A developments as we continue to bring you the latest news and insights.
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