Acquisitions Galore

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.”

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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).

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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).

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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

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