India Business

GTL Buys 100% Stake Of ADA Cellworks In $ 25 Million

GTL Ltd has announced that its wholly-owned unit GTL International Ltd has signed an agreement to acquire 100% stake in Malaysia-based, ADA for around $25 million in cash.

The acquisition is subject to conditions and regulatory approvals, and will conclude in the next few weeks, company official said in a statement.

Manoj Tirodkar, Chairman and Managing Director, GTL said, "With the acquisition of ADA Cellworks, we have progressed further on our inorganic growth strategy and strengthened our presence in the high value segments of network planning and optimization.”

Deutsche Bank & Landmark Launch “Credit-Card” Jointly

Deutsche Bank and Landmark has jointly launched a co-brand credit card. This credit card would give reward points to customers for the purchases made at the stores of the book retailer.

The first card was received by Sania Mirza, who is Deutsche Bank’s brand ambassador for retail products.

The credit card is available in two variants – Deutsche Bank Landmark Platinum Card and Deutsche Bank Landmark Gold Card.

MindTree Signs Agreement For Buying Tes-Pv In $ 65 Million

Banglore-based, MindTree Consulting has signed an agreement to acquire 100% of the equity in TES-PV Electronic Solutions (Purple Vision) for USD 6.55 million in an all-cash deal.

India based, TES-PV Electronic Solutions (`Purple Vision`) is fully-owned subsidiary of TES Electronic Solutions SA, the global electronic design and manufacturing services company based in France. The Purple Vision was founded in 2000, and it was acquired by TES Electronic Solution in 2005

TES-PV Electronic Solutions (Purple Vision) provides differentiated services in IC design and employs 150 people.

NIIT Joins Hands With US-Based Key Curriculum Press

NIIT Limited has entered into an agreement with US based Key Curriculum Press to introduce mathematics laboratories in Indian schools under the concept Math Lab.

"Math Lab" - a novel concept, launched on the occasion of Children's Day - will enable school student to learn and explore mathematical concepts and verify mathematical facts and theorems using technology tools such as "The Geometer's Sketchpad", together with hands-on activities using a wide variety of mathematical models

Edelweiss IPO Recives “4/5 Rating” From Crisil

Edelweiss Capital Limited (ECL) is entering the capital market with its initial public offering (IPO) of 83.86 lakh equity shares of Rs. 5 each for cash. The issue will open tomorrow and will be closed on November 20. The price band has been fixed between Rs. 725 and Rs. 825.

CRISIL assigned a CRISIL IPO Grade`4/5` to the proposed initial public offer of ECL. This grade indicates that the fundamentals of the issue are above average, relative to other listed equity securities in India.

TATA’S EKA: The Asia’s Fastest Supercomputer

Tata Group’s supercomputer “EKA” literally means ‘one’ in Sanskrit. Eka has been ranked, as the 4th fastest supercomputer in the world, and the fastest supercomputer in Asia, in the Top500 Supercomputer list announced at an International Conference for High Performance Computing at Reno (California), USA

IBM's BlueGene/L has grabbed the first position with 478.2 Teraflops, while second position has gone to the IBM's newer version of BlueGene/L called BlueGene/P.

JSW Steel To Invest Rs. 700 Crore In TN

JSW Steel Limited’s unit, Southern Iron and Steel Company Limited (SISCOL) will acquire mining rights for two iron ore mines in Tamil Nadu, the company official stated today.

J K Tandon, Director of JSW Steel said, “the company plans to invest Rs 700 crore and start mining operations after two years.”

"We hope to get all clearances by the end of this fiscal," he added.

Last month, JSW outlined a plan to raise $300-500 million through a sponsored equity issue after merging Southern Iron and Steel with itself.

Calsoft To Acquire International Innovations

California Software (Calsoft) has said that the company has signed a letter of intent (LoI) to acquire 100 % stake in the US- based International Innovations Inc. Innovations’ valuation will be $1.32 million (about Rs 5.3 crore).

Cheenai- based Calsoft provides software development services whereas the US- based technology consulting firm, International Innovations provides information management solutions through business intelligence tools, analytics, business rules management and enterprise search capabilities.

Aegis Communications Buys Tele Tech Services

Aegis Communications, Essar group’s BPO arm, announced today that it has signed an agreement to acquire TeleTech Services (India) Ltd for about $13 million.

The TeleTech Services is a 50:50 joint venture of TeleTech Europe BV and Bharti Ventures Ltd.

This is the seventh acquisition by Aegis in the last two years. Last Month, Aegis had acquired Canada’s Genesis Media, French sales promotion and direct marketing agency, Implicom.