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News on Medial
Investcorp's NSEIT rebrands to NuSummit, to increase focus on global markets
Livemint
·
7m ago
Medial
Investcorp-backed NSEIT, a provider of digital and cybersecurity solutions, will be rebranded as NuSummit and will focus on expanding globally, according to the company's CEO. The move comes after Investcorp acquired the National Stock Exchange's digital services business in April for ₹1,000 crore. Investcorp has invested $25-30 million in NuSummit's expansion plans, with a focus on North America as a key revenue contributor. The company aims to generate $400 million in revenue over the next 3-4 years and is open to making acquisitions to achieve this goal.
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Related News
Companies News Today Live Updates on December 10, 2024: Investcorp-backed NSEIT rebrands to NuSummit, to increase focus on global markets
Livemint
·
7m ago
Medial
Companies News Today Live Updates on December 10, 2024: Investcorp-backed NSEIT has rebranded to NuSummit as it looks to expand its focus on global markets. Stay updated with the latest information on company performance, financial results, strategic acquisitions, and leadership changes. Get detailed insights on mergers, acquisitions, and market shifts that are shaping various sectors.
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Investcorp to acquire NSE's technology services business
Economic Times
·
1y ago
Medial
Global alternative investment firm, Investcorp, has acquired NSEIT, the digital technology business of the National Stock Exchange (NSE), for Rs1000 crore. NSEIT provides digital transformation and cybersecurity services to clients in capital markets, insurance, and banking sectors, with a strong presence in India, North America, and the Middle East. This acquisition aligns with Investcorp's strategy of investing in technology and IT services companies globally. NSEIT aims to expand its presence in the US and increase its client base in the financial services industry. The deal signifies NSE's focus on its core business areas while entrusting NSEIT's growth potential to Investcorp.
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Bahrain's Investcorp to acquire NSE’s digital arm for $120 mn
VCCircle
·
1y ago
Medial
Investcorp, a Bahrain-based private equity and real estate investor, has agreed to acquire NSEIT, the digital technology subsidiary of India's National Stock Exchange (NSE), for around $120 million. The deal excludes NSEIT's digital examinations vertical. NSEIT provides digital transformation and cybersecurity services to global customers in the capital markets, insurance, and banking sectors. The acquisition is part of Investcorp's expansion plans in India and shows its commitment to investing in high-growth sectors. NSE will focus on its core business areas, said CEO Ashish Chauhan.
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NuSummit plans expansion in Asia Pacific, Western Europe to fuel growth
Economic Times
·
7m ago
Medial
Bahrain-based Investcorp-backed NSEIT, now renamed NuSummit, plans to expand its international business into the Asia Pacific and Western Europe regions. The technology services firm is aiming to become globally relevant and plans to use mergers and acquisitions as a growth strategy. Currently, 60% of NuSummit's revenues come from India, and the company aims to increase its international business to make up around 65-70% of total revenues in the next four years. The firm is also focusing on the cybersecurity, cloud, and digital transformation verticals and intends to leverage inorganic growth to enhance its capabilities.
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Investcorp appoints former Tech Mahindra exec as senior operating partner
VCCircle
·
4m ago
Medial
Investcorp, a Bahrain-based alternative investment firm, has appointed former Tech Mahindra executive Vivek Agarwal as its Senior Operating Partner for India. Agarwal will lead the expansion into software and software services sectors and join the board of NuSummit, a digital transformation and cybersecurity services firm acquired by Investcorp for $120 million. With over 25 years of experience, Agarwal will enhance Investcorp's private equity and M&A activities, particularly focusing on the mid-market technology sector.
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Pocket FM revenue soars to Rs 1,000 Cr in FY24 boosted by US expansion, subscription growth
YourStory
·
7m ago
Medial
Pocket FM, the audio series platform, reported a 496% increase in global revenue to INR 1,051.97 crore in FY24. The growth was fueled by its microtransaction-led subscription model and expansion into international markets. Subscription revenue grew nearly six-fold, reaching INR 934.73 crore. The company also witnessed a 7X increase in advertising revenue, driven by increased user engagement on the platform. Global markets, particularly North America, played a significant role in the revenue growth. Pocket FM utilizes an AI-powered blockbuster engine to curate stories with mass appeal and has collaborated with over 250,000 writers to adapt stories for diverse audiences. The focus on operational efficiency and innovative monetization strategies has brought the company closer to profitability.
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Investcorp unveils $750-mn climate fund, gets Bahrain SWF Mumtalakat as anchor
VCCircle
·
1y ago
Medial
Investcorp has announced the launch of a $750 million climate fund, named Climate Solutions Partners. The fund will focus on investing in commercially proven climate solutions across various sectors such as carbon management, building, transportation, and food and agriculture. Sovereign wealth fund Mumtalakat is serving as the anchor investor for the fund, although the specific investment amount remains undisclosed. This announcement comes during the United Nations climate summit COP28 and highlights Investcorp's ongoing diversification into different sectors.
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US stimulus bill may shake global markets, but India stays resilient: Punita Kumar Sinha
Economic Times
·
12d ago
Medial
The US stimulus bill may impact global markets by affecting US economy, currency, and bond yields. While global markets have faced various risks like geopolitical tensions and trade disputes, India remains relatively resilient and focused on its internal growth factors. Despite some concerns over valuations and earnings growth, India's long-term prospects look promising due to good monsoons and improving credit cycles. Investors should remain cautious and focus on diversified assets and domestic growth opportunities.
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Awfis to Expand in New, Current Markets, says CMD Amit Ramani
Economic Times
·
1y ago
Medial
Co-working space provider Awfis is planning a controlled and methodical expansion into new and existing markets, with a focus on tier-II cities. The company currently operates in 17 cities and aims to increase its presence to 19 markets. It plans to add around 40,000 new seats in the next fiscal year and increase its revenue by 30% in FY25. Awfis reported a net profit of INR 1.3 crore for Q4 FY24 and saw its operating revenue grow by 45% year-on-year. The company recently listed on the exchanges after raising INR 128 crore through an IPO.
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Apple, Google, Meta targeted in EU's first Digital Markets Act probes
Reuters
·
1y ago
Medial
The European Commission is launching investigations into several tech giants, including Google, Apple, and Meta (formerly Facebook), to assess their compliance with the Digital Markets Act (DMA). The DMA, which came into effect on March 7, aims to ensure a level playing field in the digital market and increase user choices. Violations of the DMA could result in fines of up to 10% of the companies' global annual turnover. The investigations will focus on issues such as Google's and Apple's app store rules and Meta's subscription service. The EU aims to conclude the investigations within a year.
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