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Wipro inks $66 mn deal to acquire US insurtech firm Aggne
VCCircle
·
1y ago
Medial
Indian IT services major Wipro is set to acquire a majority stake in insurtech firm Aggne Global for $66m in an all-cash deal. Wipro will initially purchase a 60% stake in the Florida-based company and its India-based affiliate, with the option to buy the remaining stake in the future. Aggne, founded in 2019, provides IT, consulting, and managed services to the property and casualty insurance industry. The acquisition is expected to bolster Wipro's position in the insurance market and enhance its range of offerings.
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Wipro to acquire US firm Applied Value Technologies for $40 mn
VCCircle
·
7m ago
Medial
Indian software services firm Wipro has agreed to acquire US-based Applied Value Technologies (AVT) for $40m. The deal is expected to be completed by the end of the year and will enhance Wipro's application services capabilities. AVT helps enterprises transform IT operations with customised and data-driven approaches. Indian IT firms have been increasingly acquiring niche companies to expand their service offerings and profitability. Wipro recently acquired a majority stake in US insurtech firm Aggne Global, and completed the merger of its subsidiary Designit North America with Wipro Designit Services.
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Wipro buys 60% stake in Aggne for $66 million; Know about the company
IndianStartupNews
·
1y ago
Medial
Indian technology company Wipro has acquired a majority stake of 60% in Aggne for around $66 million. Aggne specializes in serving the insurance and Insurtech industries, with a focus on the property & casualty (P&C) insurance space. The acquisition brings a unique set of capabilities and Intellectual Property (IP) to Wipro, allowing for enhanced value, faster speed-to-market, and differentiated services in the P&C sector. This strategic move further strengthens Wipro's presence in the insurance sector and opens up growth opportunities for both companies.
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KKR-controlled IndiGrid inks $199-mn deal to acquire solar asset
VCCircle
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1y ago
Medial
India Grid Trust (IndiGrid), controlled by private equity firm KKR, has signed a deal to acquire a 300MW solar power project in Rajasthan from ReNew Power. The enterprise valuation for the asset is estimated at INR 1,550 crore ($199 million). The deal includes an additional earn-out component of around $8 million. ReNew will transfer the outstanding debt of the asset to IndiGrid, resulting in a cash inflow of nearly $82 million. This acquisition will increase IndiGrid's portfolio of operating solar assets to over 1 GW peak capacity.
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Temasek inks deal to invest in Haldiram's at valuation of $10 bn
VCCircle
·
4m ago
Medial
Temasek, Singapore's state investment firm, has signed a deal to acquire nearly a 10% stake in India's Haldiram's snacks division for about $1 billion. This follows extensive negotiations and views Haldiram's as a valuable asset to enhance its focus on India's consumer sector. The deal underscores Haldiram's significant market presence, holding an estimated 13% share in India's $6.2 billion savory snacks market. Neither Temasek nor Haldiram's commented further on the transaction.
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TA Associates set to strike $150-mn India deal
VCCircle
·
1y ago
Medial
US private equity firm, TA Associates, is reportedly in final negotiations to acquire a minority stake in an Indian mortgage lender. The deal, which is valued at $150 million, marks TA Associates' continued interest in capitalizing on investment opportunities in India. The firm has focused on monetizing its investments in the country throughout the year. The mortgage lender is supported by multiple institutional investors, and the transaction is expected to be completed soon.
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EV charger maker Exicom to acquire Tritium for $30 mn
VCCircle
·
1y ago
Medial
Indian electric vehicle charger manufacturer, Exicom Tele-Systems, has agreed to acquire Tritium, an Australia-based DC fast charger firm, for $29.6m. The deal will expand Exicom's operations to include Tritium's US manufacturing facility and Australian engineering centre. Exicom offers EV charging and energy storage solutions in 15 countries. The acquisition is aligned with Exicom's goal of contributing towards a greener future.
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EQT-Temasek’s green energy platform O2 inks deal for solar assets in India
VCCircle
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10m ago
Medial
O2 Power, a renewable energy platform created by EQT and Temasek, has signed a deal to acquire the solar power assets of a green energy firm in India. O2 Power, which is undergoing a change in ownership, aims to expand its presence in the Indian market and contribute to increasing renewable energy capacity in the country.
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CPPIB’s credit unit inks $135 mn deal to part-finance India solar, wind projects
VCCircle
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1y ago
Medial
The Canada Pension Plan Investment Board's credit unit has signed a $135 million deal to partially finance solar and wind projects in India. The investment will support a US-based renewable energy company in developing these projects. CPPIB has been an active investor in India's renewable energy sector, and this deal aligns with their commitment to sustainability and clean energy.
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Mubadala inks deal to invest in Indian healthcare sector
VCCircle
·
1y ago
Medial
Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, has made a deal to acquire a stake in an Indian healthcare company, marking its return to the Indian market after 18 months. The private equity-style investment signals Mubadala's continued interest in the healthcare sector and its commitment to expanding its portfolio in India.
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Hillhouse to buy Dulwich schools in Asia for around $600 mn
VCCircle
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11m ago
Medial
Hong Kong-based investment firm Hillhouse Investment is reportedly set to acquire the Asian operations of Dulwich College International schools in a deal worth approximately $600 million. Hillhouse has emerged as the leading bidder and has reached an agreement with Education in Motion (EiM), the company that owns and operates Dulwich College International schools in China, South Korea, and Singapore. The deal also includes the sale of shares held by Chinese private equity firm CPE. The purchase comes as the Chinese education industry faces increased government regulation.
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