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Infinx buys US firm i3 Verticals for $96 million
Economic Times
ยท
3m ago
Medial
Mumbai-based Infinx has acquired US firm i3 Verticals for $96 million to expand its presence in academic medical centers and strengthen its footprint in healthcare revenue cycle management (RCM). This acquisition follows Infinx's purchase of prior authorization firm Glidian. Infinx, which offers AI-driven financial lifecycle solutions, aims to leverage i3โs expertise to enhance service delivery. The RCM services market, valued at $20 billion in 2023, is projected to grow significantly by 2029.
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Edtech sector needs change with frugality: Ronnie Screwvala
Economic Times
ยท
1y ago
Medial
Ronnie Screwvala, executive chairman and cofounder of edtech firm UpGrad, believes that excessive fundraising can be detrimental to the edtech sector. He emphasizes the need for frugality and innovation instead of relying solely on raising funds. Screwvala suggests that entrepreneurs should prioritize impact and value creation rather than constantly pursuing money. UpGrad, which has raised $365 million in total funding, reported a 96% increase in revenue but a widened loss in the previous financial year. The company is reportedly in talks to acquire US online education firm Udacity and raise additional funds for the deal.
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GQG Partners buys 0.8 per cent stake in Airtel for over $700 million
Thehindubusinessline
ยท
1y ago
Medial
US investment firm GQG Partners has acquired a 0.8% stake in Indian telecom company Bharti Airtel from Singapore Telecommunications (Singtel) for $712.5m. Singtel sold 49 million shares at INR 1,193.7 each, reducing its stake in Airtel to 29%. GQG Partners made headlines in March 2023 when it invested in Adani Group companies. The firm has also invested in other Indian firms, including JSW Energy, Patanjali Foods, IDFC First Bank and GMR Airports Infrastructure, with its India portfolio valued at around $22bn. Singtel said the deal was part of its capital recycling efforts to unlock value.
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Blackstone buys $134-mn stake in Kolte-Patil Developers, enters housing market
VCCircle
ยท
5m ago
Medial
Blackstone, a major US-based investment firm, has acquired a 40% stake in Pune's Kolte-Patil Developers for $134 million (Rs 1,167 crore). This deal involves a 14.3% stake via a preferential allotment and 25.7% from the promoters. Blackstone will also offer to buy 26% from public shareholders. This acquisition marks Blackstone's entry into Indiaโs residential real estate market, complementing its existing investments in office properties, warehousing, and shopping malls.
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US private equity firm General Atlantic to acquire UK's Actis
VCCircle
ยท
1y ago
Medial
General Atlantic, a US-based private equity firm, has announced its acquisition of Actis, a UK-based private equity firm. The financial terms of the deal were not disclosed, but the combined firm will have approximately $96 billion in assets under management. Actis will become the sustainable infrastructure arm within General Atlantic's global investment platform, with Actis Chairman and Senior Partner, Torbjorn Caesar, continuing to lead the firm. This acquisition reflects the trend of consolidation within the private equity industry.
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Nodwin Gamingโs Singapore unit buys marketing firm PublishME for $2 million
Economic Times
ยท
1y ago
Medial
Singapore-based esports firm Nodwin Gaming has acquired game marketing agency PublishME for $2 million. Previously owned by Indian gaming firm Nazara Technologies and PublishME founder Ozgur Ozalp, the agency works with various publishers and brands in the gaming industry. With the acquisition, PublishME will be renamed Nodwin Gaming in West Asia and Turkey. The move is part of Nodwin Gaming's expansion plans, following its recent funding round of $28 million.
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Safran buys AI firm Preligens for โฌ220 million
Economic Times
ยท
12m ago
Medial
A deal has been struck between French jet engine maker Safran and AI firm Preligens for โฌ220 million ($243.3 million). Preligens, which specializes in AI for aerospace and defense, will be rebranded as Safran.AI and integrated into Safran Electronics & Defense. Safran said Preligens develops advanced algorithms and software for analyzing satellite imagery to detect and identify objects of military interest. The collaboration aims to expand the application of AI in aviation, defense, and space.
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Musk buys bankrupt parachute company for $2.2 million
Siasat
ยท
1y ago
Medial
Elon Musk's SpaceX has purchased parachute maker Pioneer Aerospace for $2.2 million, The Information reported. The company was reportedly acquired by SpaceX after the former's parent firm filed for bankruptcy in Florida. Pioneer, which makes parachutes to assist space vehicles in returning to the Earth, has been a supplier for NASA and SpaceX missions.
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KKR invests in healthcare solutions firm Infinx, Norwest Venture also makes top-up
VCCircle
ยท
1y ago
Medial
KKR & Co has acquired a minority stake in Infinx Services, an AI-driven healthcare revenue cycle solutions provider, through its Asian Fund IV. The Mumbai-based company provides data-driven revenue cycle management solutions primarily for the US healthcare market. The investment from KKR will support Infinx's growth, expand its network, and aid potential acquisitions in the future. Norwest Venture Partners, an existing shareholder, also increased its investment in the company. Financial details of the deal, which was advised by Rothschild & Co, were not disclosed.
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Tesla approves share award worth $29 billion to CEO Elon Musk - The Economic Times
Economic Times
ยท
25d ago
Medial
Tesla has granted CEO Elon Musk 96 million shares worth approximately $29 billion to incentivize him to remain at Tesla amidst ongoing legal challenges regarding his compensation. This move comes as Tesla transitions focus from affordable electric vehicles to robotaxis and humanoid robots, positioning itself more as an AI and robotics firm. Musk, Tesla's largest shareholder, must pay a specified exercise price for the restricted stock, which aims to gradually boost his voting power.
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Veefin Group Buys Nityo Tech To Fuel Its BFSI Portfolio
Inc42
ยท
1y ago
Medial
Veefin Group has acquired Nityo Tech India in an all-cash deal to enhance its digital services portfolio in the banking, financial services, and insurance (BFSI) sector. The strategic move allows Veefin to broaden its offerings and compete more effectively in the financial technology space, particularly in supply chain finance and digital lending. The acquisition also gives Veefin access to Nityo Tech's AI and machine learning solutions, which can be leveraged across 15 verticals to provide innovative solutions to banks. The financial terms of the deal were not disclosed.
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