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IndiaMart fully acquires SaaS firm; Kaynes Tech to buy Canadian electronics company
VCCircle
·
3m ago
Medial
IndiaMART InterMESH Ltd has acquired the remaining shares of Livekeeping Technologies Pvt Ltd, a SaaS firm, for Rs 26.78 crore, making it a wholly owned subsidiary. This move aligns with IndiaMART's goal of expanding its SaaS offerings. Meanwhile, Kaynes Technology India Ltd plans to acquire Canadian electronics company August Electronics Inc. by May 2025 to strengthen its North American presence and improve supply chain and engineering capabilities, broadening its service offerings in key industries.
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IndiaMART to invest up to Rs 14.28 Cr in Mobisy Technologies
YourStory
·
8m ago
Medial
IndiaMART is set to acquire shares in Mobisy Technologies Private Limited for up to Rs 14.28 crore. As part of the deal, IndiaMART will buy equity shares and Compulsory Convertible Preference Shares (CCPS) from an existing investor. This acquisition aligns with IndiaMART's strategy of expanding its SAAS-based solutions for businesses. Mobisy Technologies, known for its retail intelligence platform Bizom, generated Rs 78.6 crore in turnover during FY24. IndiaMART's shareholding in Mobisy will increase to approximately 31.33% following the investment.
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Nordic Capital Acquires Zafin
Finsmes
·
1y ago
Medial
Nordic Capital has acquired a majority share in Zafin, a Canadian provider of SaaS solutions for financial institutions. The deal, expected to be completed in Q1 2024, was made in partnership with Zafin's founders and management. Zafin's platform allows banks to manage relationship pricing, products, and packages, ensuring compliance and operational control. The company serves a global customer base, including Wells Fargo, HSBC, and PNC. The financial terms of the agreement were not disclosed.
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Kaynes Technologies inaugurates EMS facility in Hyderabad
Economic Times
·
11m ago
Medial
Kaynes Technologies has opened an advanced electronics unit near Hyderabad, focusing on smart meters and electronics manufacturing. The facility will initially serve Brightgrid as its first customer but aims to attract multiple customers. The plant is equipped with cutting-edge manufacturing technologies and will cater to various sectors including industrial, automotive, medical electronics, aerospace, and telecommunications. Kaynes Technology offers end-to-end electronics system design and manufacturing solutions, ranging from design and prototyping to turnkey manufacturing and support. The company is awaiting approval to set up an advanced OSAT unit, with potential locations in Gujarat and Telangana.
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Kaynes to keep away from fabs for now, focus on chip facility, says CEO
Livemint
·
11m ago
Medial
Kaynes Semicon, a subsidiary of Kaynes Technology, is focusing on completing its chip assembly and test facility in Gujarat, rather than venturing into semiconductor fabrication. The company plans to start with chip manufacturing through outsourced assembly and test (OSAT) facilities and then gradually scale up. Once fully operational, the facility is expected to produce 6 million chips per day within the next two years. Kaynes' stock has risen by 12% since announcing the OSAT proposal. The company is also benefiting from India's production-linked incentives (PLI) scheme for IT hardware.
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Can Kaynes Supercharge India’s Chip Manufacturing Ambitions?
Inc42
·
9m ago
Medial
Kaynes Semicon is looking to capitalize on the booming semiconductor industry by providing chips for various sectors, including automotive, consumer electronics, and telecom. The company has already signed letters of intent with four clients and has six more in the works. With an upcoming plant, Kaynes Semicon aims to produce 100 million semiconductor packages within the next one to two years.
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Kaynes Buys Land In Gujarat To Build Chip Plant, Eyes Investment Of INR 5,000 Cr
Inc42
·
11m ago
Medial
Electronics manufacturer Kaynes Technology has purchased land in Gujarat's Sanand to establish an outsourced semiconductor assembly and test (OSAT) unit. The company plans to invest INR 5,000 crore ($596 million) in its chip project. Kaynes will continue to operate its Telangana unit, maintaining a couple of chip assembly lines there, while the advanced chip assembly and test project will operate from Gujarat.
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Tata Group acquires 100% stake in Wistron India to make iPhones in India
IndianStartupNews
·
1y ago
Medial
The Tata Group has acquired a 100% equity stake in Wistron Infocomm Manufacturing (India), making it the first Indian company to fully assemble iPhones. This move not only expands Tata's manufacturing capabilities but also positions them as a major player in the global electronics market. The acquisition is expected to boost India's electronics manufacturing sector and enhance the value chain for Tata. The company is set to begin end-to-end assembly of iPhones in India, starting with the iPhone 17 in the second half of 2024. This aligns with Apple's strategy to reduce reliance on Chinese manufacturing.
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IndiaMART jumps 9.5% despite poor Q3 earnings; Brokerages cut targets
Inc42
·
1y ago
Medial
Shares of B2B marketplace IndiaMART InterMESH surged nearly 9.5% after the company reported weak Q3 earnings. Despite a 27.4% decline in net profit, the company's shares regained momentum as Nomura upgraded its rating to 'neutral' and JM Financial retained its 'buy' call with a lower price target. However, Kotak Institutional Equities assigned a 'sell' rating, citing the need for continued investments to stay relevant to the SME base. IndiaMART plans to revise its business strategy and focus on increasing traction through social media.
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IndiaMART’s Stake In Mobisy Increases To 27.21%
Inc42
·
11m ago
Medial
IndiaMART invested INR 8 Cr in Mobisy, resulting in a stake increase from 25.08% to 27.21%. Mobisy Technologies operates Bizom, a SaaS-based distribution technology solutions provider for brands and B2B retailers.
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Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees
Economic Times
·
2y ago
Medial
Ontario Teachers' Pension Plan, a Canadian fund, considers a potential $100 million investment in Indian e-commerce logistics startup Xpressbees. This investment would aid Xpressbees in expanding its operations and further developing its logistics and supply chain solutions. The potential funding highlights the growing interest of international investors in India's dynamic e-commerce and logistics sector. The Canadian pension investor may buy a stake in the firm at about a $1.4 billion valuation.
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