NEW DELHI: The total value of merger and acquisition (M&A) deals in the country so far for 2012

has crossed $16 billion mark, largely on account of a major intra-group deal in Anil Agarwal-led Vedanta grouplast month. Deals worth $14.75 billion were recorded last month alone - the largest for the month of February in three years. The companies announced a total of 50 M&A deals during February 2012, as against 57 deals worth $1.31 billion in the previous month, global consultancy firm Grant Thornton said in a report.
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On a year-on-year basis also, the number and value of M&A deals increased from 45 deals worth $7.75 billion in February 2011, it added. "We have seen a significant jump in overall transaction values in the month due to the announcement of a large restructuring deal by Vedanta Group which is the highest in the past three years," Harish HV - Partner, India Leadership Team at Grant Thornton said. The deal of the month was the large restructuring deal by Vedanta Group, under which Sterlite Industries,Sesa Goa and Vedanta Resources announced merger of Sesa Goa and Sterlite and the proposed consolidation of the group structure. These deals are together estimated to be worth over $12 billion. The domestic and internal restructuring deals accounted for a major chunk of total deal size last month, which recorded 36 such deals worth $14.05 billion, up from 19 deals worth $0.55 billion in the year-ago period. In the first two months of this year M&A deals worth $16.06 billion has been announced, hinting that the year 2012 likely to witness a host of M&A deals. "The recent changes in the Competition Commission guidelines and the activity in the first two month augurs well for our forecast of this being a year of M&A for India Inc," Harish HV added. The total value of inbound deals -- wherein foreign companies or their subsidiaries acquired Indian businesses -- in February was $270 million by way of 9 deals as compared to $7.45 billion in the corresponding period a year ago via 8 transactions. There has also been an increased interest from companies in outbound in the recent two months, the report noted. The total value of outbound deals (Indian companies acquiring companies outside India ) in February this year was $441 million (5 deals) as against $206 million (11 deals) a year ago. In the private equity sphere, as many as 44 transactions were announced valued at $0.67 billion "pointing to a larger growth in VC deals which augur well for creating more entrepreneurs and business," Harish HV said.
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Value of telecom M&A deals touched USD 23 bn in Q1: Assocham

PTI Jul 4, 2010, 12.10pm IST

Tags: telecom industry| Reliance Communications Ltd.| Merger and acquisition| Assocham

NEW DELHI: The telecom industry topped the chart in terms of merger and acquisition deals, valued at $ 22.73 billion, across all sectors in the April-June quarter of 2010-11, a study by industry body Assocham said. "Three major outbound and domestic merger and acquisitions deals worth $ 22.73 billion took place in the telecom sector during April-June 2010, representing 67.19 per cent share in the total valuation of the deals that occurred during that period," the Assocham study said.
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During April-June 2009, the sector had witnessed mergers and acquisitions deals worth $ 439.4 million, it said. In the telecom sector, the biggest deal was cracked by Anil Ambani Group's flagship company, Reliance Communication Ltd, which merged its telecom tower business with GTL Infrastructure for $ 11 billion, the study added. The other major deals included Bharti Airtel signing a deal to acquire Kuwait-based Zain Telecom's African business for $ 10.7 billion and Reliance Industries acquiring Infotel Broadband for $ 1 billion, it said. "The merger and acquisition activity in the past three months indicate that the Indian telecom industry is all set to take on the global markets," Assocham said. The other sectors, including pharmaceutical, banking and finance, metal and mining, energy, steel, media and entertainment, aviation, real estate and IT-ITeS, witnessed 57 mergers and acquisitions pegged at $ 111.02 billion -- altogether contributing a 32.81 per cent share in the total merger and acquisitions deals. It further said that during the first quarter of 2010, the volume of merger and acquisition deals involving Indian firms increased three-fold. "The activity registered an increase of 256.72 per cent to $ 33.83 billion in April-June 2010 from $ 9.49 billion in April-June 2009. The number of deals also recorded an increase to 60 from 43 during the corresponding period," the study said.

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Consult us before finalising M&A norms in telecom: CCI to TRAI

PTI Dec 2, 2011, 07.20pm IST

Tags: TRAI| Telecom| M&A norms| CCI

NEW DELHI: With telecom regulator recommending liberal norms for mergers and acquisitions, the Competition Commission of India (CCI) has asked Trai to keep it on board before finalising norms in the sector, to avoid any jurisdictional conflict. In a letter to the Department of Telecommunications (DoT) and Telecom Regulatory Authority of India (TRAI),CCI Chairman Ashok Chawla said the anti-trust body would be able to give valuable inputs as one of its mandates is to look into combinations which could have adverse impact on competition in the market.
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"This may be the appropriate time to consider suggestions of the CCI when norms are being finalised on mergers and acquisitions for the telecom sector so as to avoid any potential jurisdictional conflict and uncertainty for the industry," Chawla said in the letter. He also suggested that a suitable consultation mechanism should be developed between the CCI and the DoT or TRAI. Last month, TRAI gave recommendations to the DoT on 'Spectrum Management and Licensing Framework' suggesting a liberal norm of up to 35 per cent market share as a "safe harbour" for mergers and acquisitions in the Indian telecom sector. To ensure a level-playing field among service providers, it added that if a resultant entity after merger or acquisition commands between 35-60 per cent market share, TRAI would look into the case to ensure that there is no abuse of market dominance. TRAI has suggested replacing the existing urban-centric roll-out obligations by revised norms applicable to all CMTS and UAS licenses. As an incentive, it has recommended progressive reduction of the USOF component of licence fees, starting from 0.5 per cent for the achievement of two years' roll-out obligations and extending up to 4 per cent in the event of coverage of all villages with population of 500 to 2,000 people.
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Google completes Motorola Mobility acquisition; CEO quits

The two companies had announced the deal nine months ago. Google acquired Motorola Mobility in an all-cash deal for $40 per share
PTI

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New York/New Delhi: Google has completed the acquisition of cellphone maker Motorola Mobility for $12.5 billion in an all-cash deal and appointed Dennis Woodside as the new CEO in place of Sanjay Jha, who has decided to step down. Im happy to announce on Wednesday that our Motorola Mobility deal has closed...Sanjay Jha, who was responsible for building the company and placing that big bet on Android, has stepped down as CEO, Google CEO Larry Page said in joint statement of the two companies on Tuesday late night. Woodside, who takes over from Jha, was serving as president of Googles Americas region, it added. Jha, meanwhile, will continue to work with Google to help ensure a smooth transition, the statement said. This is the biggest deal in Googles 14-year history. The two companies had announced the deal nine months ago. Google acquired Motorola Mobility in an all-cash deal for $40 per share. Ive known Dennis for nearly a decade, and hes been phenomenal at building teams and delivering on some of Googles biggest bets. One of his first jobs at Google was to put on his backpack and build our businesses across the Middle East, Africa, Eastern Europe and Russia, Page said. Google has hired a new team for running business at Motorola Mobility, which includes former Director of DARPA Regina Dugan, former supply chain VP at Amazon and previously at Nokia Mark Randall, former CFO of Marsh and McLennan Vanessa Wittman, former head of HR at Visa and NVIDIA Scott Sullivan, and former Google VP of Consumer Marketing Gary Briggs.

Members of Motorola Mobilitys team, including senior vice-president for Global Product Development Iqbal Arshad, chief of Staff Marshall Brown, senior vice president for Mass Market Products Fei Liu and some others will continue working at the their existing position, the statement said.

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Dell announced acquisition of Quest Software for USD 2.4 billion

Posted by Manas on July 3rd, 2012

Global PC and laptop maker Dell has announced its acquisition of enterprise management software maker Quest Software for USD 2.4 billion in an all cash deal. It has increased the deal value to counter earlier USD 2.17 billion takeover bid by private investment firm Insight Venture Partners in order to complete the acquisition. This is Dells biggest acquisition after Perot Systems for USD 3.9 billion in 2009. First Insight Venture Partners offered USD 23 per share of Quest Software in March this year and Dell offered USD 25.50 to counter the same. When Insight Venture Partners had increased the offer price to USD 25.75 for the same, Dell countered by a whopping USD 27.50 per share offer price to complete the deal finally. With this acquisition, Dell will be able to focus on Software development business with their core PC and Laptop business in order to diversify their revenue source. Dell has been looking for more investment in the software development business to counter falling revenue growth in the PC and Laptop business. It will also enable Dell to deliver more competitive server, storage and networking solutions to its customers.

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Yatra.com acquires Travelguru to boost revenue and increase market share

Posted by Manas on July 1st, 2012

Indias online travel portal Yatra.com has acquired the Indian arm of US travel services provider Travelocity, Travelguru. With this Yatra.com will become Indias largest provider of hotel bookings. Travelguru is Indias largest hotel distribution network with access to over 6,500 hotels in India and 72,000 hotels worldwide and with this acquisition yarta.com will be able double their review in the next one year. Yatra.com is facing some pressure on its revenue from airline ticket reservations due to current slowdown in the airlines sector. Yatra.com is trying to increase its revenue from other sources through different acquisitions. This is yatras 4 th acquisition in last one and half year in order to increase revenue and provide steep competition to other online booking portal services.

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Microsoft acquires Internet networking site Yammer for USD 1.2 Billion
Posted by Manas on June 26th, 2012

Global tech giant Microsoft has acquired office social networking site Yammer for USD 1.2 billion in order to increase its presence in the social networking domain. Yammer operates like a social networking site within the companies like Ford, Deloitte etc. It has nearly 5 million users in more than 2 lakh companies worldwide. Employees use this site to share updates and pictures along with other colleagues inside the company. This acquisition will help Microsoft to increase its presence in the social networking domain and increase its range of software products for the corporates. Microsoft holds 1.7% stake in Facebook after its IPO which is valued at nearly USD 840 million.

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Google Acquires Online Chat site Meebo

Posted by Manas on June 5th, 2012

Global technology and search engine giant Google has announced its acquisition of chat site Meebo for some undisclosed sum. The deal value can cross USD 100 million considering Meebos presence. This acquisition will help Google to add more tools to its social networking platform Google Plus. Meebo was launched mainly as a browser-based messaging service in 2005, after which it had launched all the other communication features. Meebo supports multiple instant messaging services, including Yahoo Messenger, Windows Live Messenger, AIM, ICQ, MySpace IM, Facebook Chat and Google Talk. Google has launched Google Plus last year but it had failed to compete with Facebook in the social networking space. Acquiring Meebo will help Google Plus to connect with more users.