Volume 109, November 7 th, 2011

Transcription

1 Volume 109, November 7 th, 2011 For the period October 31, 2011 to November 6, 2011

2 Highlights GP Goenka To Sell Andhra Cements Stake To Dalmia Group (3) Content Pages Mergers & Acquisitions News 3-5 Mergers & Acquisitions Deals 5-9 Private Equity News 9-10 Private Equity Deals Venture Capital News Venture Capital Deals Murugappa Group To Sell Laserwords To SPI Group (4) AAA United BV To Acquire Additional 20% Stake In Bombay Rayon (4) Sinclair Hotels Acquires Majority Stake In Savannah Hotels (5) Olam Buys Certain Assets Of Ascent Capitalbacked Vallabhdas Kanji (6) VF Corporation Acquires Arvind's 40% Stake In VF Arvind Brands (7) Briggs & Stratton Acquires Premier Power Equipments For $3 mn (8) Aventis Pharma Acquires Universal Medicare's Nutraceutical Biz (9) Everstone Capital To Invest Rs 150 cr In Crystal Crop Protection (10) Carlyle Buys 4% In Edelweiss For Rs 86 cr (10) Equity International Invests $75 mn In GTI Capital Backed SAMHI (11) Helion Venture Partners Invests In BabyCare Products Portal-Hoopos.com (12) Video Ad Technology Firm Jivox Raises $8.2 mn (13)

3 Mergers & Acquisitions News Omnicom Group To Acquire 51% Stake In Mudra Group US based advertising company - Omnicom Group is acquiring a 51% stake in Anil Ambani controlled - Mudra Group. The financial terms of the transaction were not disclosed, however OmnicoM will have an option of increasing it's stake in the company in the near future. Omnicom has had 10% stake in Mudra Group since Mudra Group operates through four agency networks - branding and communications agency Mudra India; marketing and advertising agency DDB Mudra; integrated engagement and experiential agency Mudra Max; and Ignite Mudra, India's only agency that caters to entrepreneurs. Mudra has 26 offices across the country and an extensive field activation network. Mudra Group's clients include Aircel, Amrutanjan, Amway, Bank of Baroda, Bajaj Allianz Insurance, Castrol, Dabur, Disney, Emirates, Electrolux, Femina and Future Group among others. Mudra has been a DDB Worldwide partner since DBB Worldwide Communications Group Plc is a part of the Omnicom Group Inc. DDB Mudra comprises four strategic business units DDB India, Tribal DDB India, RAPP India and DDB Health & Lifestyle. GP Goenka To Sell Andhra Cements Stake To Dalmia Group GP Goenka is selling his 45% stake in Andhra Cements Ltd to Dalmia Group. Andhra Cements has been on the block for a long time with the Duncan group looking for a prospective investor. There have been reports over the past six months of multinational cement makers Lafarge and Italcementi being interested in picking up Goenka's stake in Andhra Cements. Andhra Cements had accumulated losses of over Rs200 cr in the past two years. Andhra Cements Limited was incorporated in December 1936 in the name of Andhra Cement Company Limited. The present promoters of the company, Duncan Goenka Group have been managing the company since The company was declared sick and referred to BIFR in Subsequent to the implementation of the rehabilitation scheme, Andhra Cements reported a positive net worth as on March 31, 2008 and was de-registered from BIFR in January The products manufactured by the company include Ordinary Portland Cement, blended cements and Ground Granulated Blast Furnace Slag. It has two manufacturing plants in Andhra Pradesh. Andhra Cements operates in AP, Karnataka, Maharashtra, TN, Goa, Uttarakhand, UP and Chattisgarh. The southern States are it's primary market. Promoters, General Atlantic To Exit Hexaware The founders of Hexaware Technologies have mandated Citigroup Capital Markets to find a buyer. The founder - Atul Nishar and General Atlantic are looking to exit by the next calendar year. General Atlantic, which had invested Rs300 cr in the company in 2006 owns 14.9% stake

4 while the founders own 28.18% stake in the IT services company. Hexware Technologies is an software services provider based out of Mumbai. It was formed in 2002 when the business activities of Aptech Limited was restructured. Atul Nishar, the founder of Hexaware, started Aptech computer education in Later the company started providing business solutions and made into a separate IT division of Apple Industries. In 1990 it was spun into a new company which functioned for nearly a decade. In 2002 major restructuring happened as all the training activities were demerged into Aptech and business solutions were made part of Hexaware Technologies Ltd. Atul Nishar sold Aptech to SSI in Hexaware provides software services in airlines, banking and financial services and health care insurance sectors. It has several clients like E&Y, Hewitt Associates, Lufthansa, Delta Airlines, etc. Murugappa Group To Sell Laserwords To SPI Group Murugappa Group is selling it's BPO business - Laserwords Private Limited to Philippine based SPI Global. It could be a strategic sale or a full exit. Laserwords Private Limited, founded in 1983 offers end to end solutions for print and media production services to leading publishers of school, higher education, academic, as well as professional and trade publications. Laserwords has two production facilities in Chennai, India, and full-service production teams in the US at Maine, Madison and New York. The Maine facility provides prepress services to higher education, and professional and trade book publishers while the Madison facility focuses on the school market. Laserwords' clients includes Amazon, Scholastic, Pearson among others. SPI Global is a full-service BPO provider with offices and facilities in 24 locations across North America, Europe, Australia, and Asia. It has over 15,000 employees delivering a range of solutions in knowledge process outsourcing and customer relationship management. Coromandel International holds 44% stake in Laserwords, while the balance 56% stake is with other Murugappa Group companies. AAA United BV To Acquire Additional 20% Stake In Bombay Rayon Netherland based AAA United BV has made an open offer to acquire an additional 20% stake in Bombay Rayons Fashions at an offer price of Rs300 per share. Based on the offer price, the size of the open offer works out to Rs853 cr. In 2009, AAA United BV, promoted by European fashion retailer Bestseller had acquired 20.67% stake in the company for Rs322 cr. Currently it owns 14.07% stake and 33 mn GDRs of Bombay Rayon. The open offer was originally scheduled for May 2011 but was delayed. Now the offer is scheduled open on Nov 4. Bombay Rayon Fashion formerly known as Mudra Fabrics Limited, was founded in It is promoted by Janardan D Agarwal. It has manufacturing facilities in Maharashtra, Karnataka, Tamil Nadu and Kerala. It has a capacity to produce 220 mn meters of fabric and mn pieces of garments.

5 BPO Firm WNS Holdings To Acquire Paxys Stake In Philippines JV Warburg Pincus-backed outsourcing firm WNS (Holdings) Ltd has entered into an agreement with Paxys, Inc., its joint venture partner in WNS Philippines, Inc., to acquire the latter s 35% stake in the JV for an undisclosed sum, the company has said in a statement. Other shareholders of WNS include Nalanda India Fund (11.7 %), Columbia Wanger Asset Management (13.45%) and FMR LLC (14.3%). Following the acquisition of Paxys stake, WNS Philippines will become a wholly owned indirect subsidiary of WNS Holdings, the statement added. Founded in 1996 and headquartered in Mumbai, WNS provides offshore business process outsourcing (BPO) services including data, voice, research & analytical services, sales & customer care, finance and accounting, operations, and platform-based & shared services. The company caters to various industry segments like travel and leisure, consumer products, retail, professional services, pharmaceutical and media & entertainment. WNS primarily serves European and North American firms, and also companies across the globe. In October this year, WNS has filed a shelf registration statement with the Securities and Exchange Commission (SEC), which may pave the way for the private equity major Warburg Pincus to exit the firm. Once approved by the US market regulator, it will allow Warburg Pincus to sell its 47.9% stake that may fetch around $258 million, given the current share price trends. Mergers & Acquisitions Deals Sinclair Hotels Acquires Majority Stake In Savannah Hotels Sinclair Hotels has acquired a majority stake in Savannah Hotels Private Limited, which owns Savannah Sarovar Premiere a business hotel in Whitefield, Bengaluru. Savannah Sarovar is a 104 room hotel with two restaurants, conference and banqueting facilities, a roof top swimming pool and a health club. The hotel is located close to the International Tech Park. Savannah Hotels was developed in 2007 and the promoters got into a long term management and marketing contract with Sarovar Hotels and Resorts, which is a master-franchisee of Minneapolis-based Carlson Hospitality Worldwide brands Park Plaza and Park Inn. The promoters of Savannah Hotels also own Hotel Marine Plaza in Mumbai which is also managed by Sarovar Hotels and Resorts. Xander Capital backed Sinclairs presently owns and operates five properties in Siliguri, Darjeeling, Dooars, Port Blair and Ooty. It is also developing three additional hotels which include a 46 room luxury resort in Kalimpong, a club and banquet complex with a 20 room hotel in Burdwan and a 106 room premier business hotel in Rajarhat, Kolkata. Sinclair is interested in acquiring existing hotel properties.

6 IBS Software Acquires Moveo Systems IBS Software has acquired Bangalore based Moveo Systems. Financial terms of the deal were not disclosed. Sankalp Saxena - MD, Moveo Systems will now head aviation operations services in IBS which includes airline, airport and cargo operations. Founded in 2006, Moveo Systems provides multi-rouch screen interactive kiosks, mobile apps and web based applications. It has raised $2.2 mn in two rounds of angel funding. It's clientele includes CEMA Lighting, Bangalore International Airport, CavinKare, Royal Orchid, CSIA, Peppermint, Forum, Indian Bank and Featherlite among others. IBS Software develops software for travel, transportation, hospitality, and logistics industries. It offers airline passenger management software products, which include aires for passenger reservations, inventory control, fares and ticketing, and departure control functions of the commercial airlines; iloyal, a CRM and legacy system; ifly for value chains in the staff travel space; and Linx, which manages the services offered by charter airlines. Olam Buys Certain Assets Of Ascent Capital-backed Vallabhdas Kanji Kewalram Chanrai Group-promoted and Singapore-based supplier of agri and food commodities Olam International Ltd has acquired the bulk spices and private label assets and businesses of Vallabhdas Kanji Ltd (VKL) for $18 million in its second deal in India in as many months. The acquired assets include VKL s spice processing facility in Cochin, a pepper grinding factory in Vietnam and its sales and distribution operations in North America. The company processes and offers a range of value-added, processed spices and blends in various forms, customized for industrial customers. It also offers retail packs for spices, spice blends and seasonings to customers across the USA and Europe. Kochi-based VKL is one of the largest Asian processors of spice and spice ingredients. It is backed by Ascent Capital (formerly UTI Ventures) that invested $6 million five years ago to pick an undisclosed minority stake. Three years ago, Argonaut Private Equity also invested $7.5 million for an undisclosed minority stake. Incidentally, the firm was reportedly looking to go public in 2008, a year when stock market valuations crashed, virtually ruling out many proposed public issues. VKL is the flagship company of Kanji Moorarji Group that also includes Kancor Flavours and Extracts Ltd and Autohangar (India) Pvt Ltd. Besides the assets being sold, the company has exposure in areas like flavours and fragrances after acquiring Mumbai-based Beeta Chemicals in October 2006, as well as the spice-gifting business under the brand of Bombay Tiffin. Fortis Healthcare To Pay $665 mn For Acquiring Promoters' Firm Billionaire brothers Malvinder and Shivinder Singh are selling their privately held healthcare services firm Fortis Healthcare International, which operates hospitals in the Asia-Pacific region, to their majority-owned, public-listed firm Fortis Healthcare (India) for $665 million (Rs 3,274 crore) in the biggest ever deal in the Indian healthcare services industry. The deal will make Fortis Healthcare the largest healthcare services firm in the country in terms of number of

7 hospitals and bed capacity, overtaking Apax Partners-backed Apollo Hospitals. It will also pitchfork Fortis Healthcare as a strong competitor to Singapore-based Parkway Hospitals in the Asia-Pacific region. Fortis Healthcare International is a Singapore-based healthcare delivery company with presence in nine global locations including Hong Kong, Dubai, Australia, New Zealand, Canada, Singapore, Sri Lanka, Vietnam and Mauritius. The firm, which has been pursuing an aggressive overseas acquisition strategy for over a year now, has presence in multiple verticals including primary healthcare, specialty day care healthcare, hospitals and diagnostics. Among its assets, Fortis Healthcare International owns Quality Healthcare Ltd, the largest primary care network in Hong Kong with 580 centres; Dental Corporation Pty Ltd, the largest dental care network in Australia & New Zealand with 177 centres; Fortis Speciality Hospital, an under-construction specialty hospital in Singapore; a stake in the 350-bed Lanka Hospitals Corporation, Sri Lanka s largest super specialty hospital, and the largest private pathology laboratory in the UAE. Kavveri Telecom Acquires Antennae Maker - Rymsa Telecom Kavveri Telecom has acquired Rymsa Telecom from Radiacon y Microondas, SA. The financial terms of the transaction were not disclosed, however according to the press release the Kavveri's total investment in Rymsa Telecom will be about $27.25 mn. This acquisition will enhance Kavveri's broaband antenna product line. Rymsa Telecom was founded in It manufactures base systems antenna systems for the telecom industry. The products are used for Radio and TV, air traffic control and specific supplies for military applications. It has manufacturing facilities in Madrid and Mexico City. The customers of Rymsa Telecom include the major operations like Telefonica, Orange, Claro, Movistar, Telcel, Americamovil and OEMs like Nokia Siemens Networks, Ericsson, etc. VF Corporation Acquires Arvind's 40% Stake In VF Arvind Brands Arvind Ltd has divested it's 40% stake in VF Arvind Brands Pvt Ltd to VF Corporation for Rs257 cr. The funds will be used to repay debt. The divestment was done in terms of the JV agreement in which VF had the right to acquire shares from Arvind at the end of 5 years. VF Arvind Brands Pvt Ltd was formed in 2006 as a 40:60 JV between Arvind Ltd and VF Corporation after VF Corporation bought 60% stake in the company for around Rs132 cr. Arvind had invested Rs5.47 cr in the JV. VF Arvind was formed to market and distribute VF branded products (Lee and Wrangler) in India. Before that, Arvind had a licensing agreement with marketing the products in India. Arvind Ltd manufactures a range of cotton shirting, denim, knits and Khakis fabrics. Arvind also runs a value retail chain, Megamart, which stocks company brands. Arvind Limited markets Tommy Hilfiger branded products through it's JV Arvind Murjani Brands Pvt Ltd. Arvind Murjani Brands was originally a JV between Arvind Ltd and Murjani Group before PVH Group bought out Murjani's Group's 50% stake in the entity in September this year.

8 Briggs & Stratton Acquires Premier Power Equipments For $3 mn US based gasoline engine maker - Briggs & Stratton Corporation has acquired farm equipment maker Premier Power Equipments & Products Pvt Ltd for $3 mn in an all cash deal. This acquisition is a part of Briggs & Stratton's strategy of diversifying it's production geographic portfolio of business. Power Equipments & Products is a distributor of Briggs & Stratton products in South and Eastern states of India. It also manufactures tillers, weeders, harvesters, transplanters, pumps and portable generators. Its products are sold through a network of approximately 60 dealers in India. Briggs & Stratton Corporation produces gasoline engines for outdoor power equipment. Its wholly owned subsidiary Briggs & Stratton Power Products Group, LLC manufactures generators and pressure washers. it also sells lawn and garden and turf care through its Simplicity, Snapper, Ferris, Murray and Victa brands. Sesa Goa Acquires Goa Energy For Rs53.72 cr Sesa Goa is acquiring Goa Energy from Videocon Industries and other shareholders for Rs53.72 cr in all cash deal. The agreement includes taking over existing debt of Rs47.28 cr of Goa Energy. The deal is subject to certain conditions precedent including approvals from the lenders and power purchasers. Goa Energy operates a 30 MW waste heat recovery power plant in Goa which utilizes the waste heat and gases from Sesa's coke making and pig iron facilities. This acquisition will enable Sesa to exploit synergies with the Pig Iron and Coke making operations at Amona (Goa) and to secure further cost reduction on its own power requirements. Vedanta Group owned Sesa Goa is engaged in mining, producing, and exporting iron ore products. Last year, it produced 18.8 mn metric tonnes and sold 18.1 mn metric tonnes of iron ore. The company s mining operation is carried out from Goa and Karnataka. Infotech Enterprises Buys Balance 26% In Infotech Geospatial General Atlantic-backed Infotech Enterprises has acquired the 26% stake it didn t own in its subsidiary Infotech Geospatial (India) Limited (IGIL), for undisclosed sum, the company disclosed in a statement to Bombay Stock Exchange. Infotech Enterprises had acquired 74% in Geospatial Integrated Solutions around four years ago. Hyderabad-based Infotech Geospatial is engaged in providing geospatial solutions such as enterprise-wide geographic information system and information technology solutions. It offers its services for land records; urban planning; environment; forestry and natural resources; utility infrastructure planning and management and defense. Besides General Atlantic, the company counts amongst its shareholders private equity firm Sequoia Capital and air conditioning Major Carrier. General Atlantic and Carrier hold about 14% each while Sequoia holds around 5% stake. Infotech Enterprises Limited, together with its subsidiaries, provides geospatial, engineering design, and information technology (IT) solutions. The company also provides product development and lifecycle support, process, network, and content engineering solutions. The company operates in two segments, Network and Content Engineering, and Engineering, Manufacturing, Industrial

9 Products. The company operates primarily in India, North America, and Europe. In January 2010, the company acquired Illinois-based Daxcon Engineering Inc., a company engaged in the business of providing product design engineering services to original equipment manufacturers. In August last year it also acquired US-based a telecom engineering services provider Wellsco. Infotech Enterprises employs over 9,000 employees and has plans to hire 1,000 employees in the second half of this fiscal ending March Kiri Industries Acquires Taiwan Based SMS Chemicals Kiri Industries has acquired Taiwan based SMS Chemical Co Ltd to expand it's geographical in Taiwan. Financial terms of the transactions were not disclosed. Incorporated in 1998, Ahmedabad-based Kiri is engaged in the business of manufacturing of reactive dyes which are called synthetic organic dyes used for cotton fabrics like garments, dress materials, bed-sheets, carpets etc. Kiri Dyes also has 40:60 JV with China based - Zhejiang Lonsen Group to form Lonsen-Kiri Chemical Industries Ltd. The JV has a manufacturing facility at Padra near Vadodara. Aventis Pharma Acquires Universal Medicare's Nutraceutical Biz Aventis Pharma - part of Sanofi Aventis has acquired Universal Medicare's nutraceutical formulations business for Rs567 cr. Mumbai based Universal Medicare makes a number of OTC products to treat osteoporosis and arthritis. It's product portfolio includes brands like SeaCod, Aminofit, Estovon and Multivite Gold among others. Sanofi Aventis is acquiring companies across the globe and restructuring it's strategy as it prepares for a production decline after the patent expiry of several blockbuster drugs in the next few years. Most of the top pharma companies are facing the same problem of patent expiry and are looking for acquisitions in emerging market. Plavix - a drug for cardiovascular cancer goes off-patent around November this year. The patent for this drug is owned by Sanofi and Bristol Myers. Plavix had sales of more than $5 bn in US. Sanofi made 10 acquisitions across the globe in the past couple of years, including a $20.1 bn acquisition of US based healthcare company Genzyme. Sanofi operates in India through four entities: Aventis Pharma Limited (60.4%), Sanofi-Synthelabo (India) Limited (100%), Sanofi Pasteur India Pvt. Ltd (100%) and Shantha Biotechnics Limited (96.4%). Trinity Capital Exits Virar Township Project Trinity Capital Plc has exited Enigma Constructions Pvt. Ltd - developer of Rustomjee Evershine Global city in Virar by selling it's stake for Rs48 cr. Rustomjee Evershine Global city is a township project being developed by a 50:50 JV between Keystone Realtors (Rustomjee Group)

10 and Evershine Builders. Enigma Constructions is a SPV formed by Keystone Group and it holds 50% stake in the project. Trinity had invested Rs45.1 cr for a 23% stake in the SPV. The construction work which was supposed to start in 2008 was stuck for more than a year due to a dispute between HDIL and the developers. Trinity Capital Plc is an AIM-listed real estate fund focused on India. Its portfolio, which is estimated at $230 mn, is managed by Ajay Piramalbacked Indiareit Fund Advisors Pvt. Ltd. Indiareit replaced Trikona Advisors Ltd as the fund manager last year, as Trikona Advisors raised various issues regarding decisions of the board. Everstone Capital To Invest Rs 150 cr In Crystal Crop Protection Mid-market private equity firm Everstone Capital is all set to invest Rs 150 crore in Crystal Crop Protection Pvt Ltd (earlier known as Crystal Phosphates), a manufacturer of crop protection chemicals. The Delhi-headquartered company is engaged in the business of products like fungicides, insecticides, herbicides besides agri equipment such as spray pumps among other categories. Founded by first generation entrepreneur NK Aggarwal, the agro- chemical company is now run actively by his son Ankur Aggarwal who spearheads the operations. The fund raising is expected to help Crystal further consolidate its position in the Indian market, and explore inorganic growth opportunities in the agri- space in India and abroad. Carlyle Buys 4% In Edelweiss For Rs 86 cr Private equity major Carlyle Group is doubling down on Indian brokerages as it bought 3.85% in Edelweiss Financial Services from the open market. The private equity firm acquired the shares for Rs 85.9 crore in a bulk deal on the National Stock Exchange. The development comes after Carlyle has raised its exposure to brokerage and financial services firm India Infoline (IIFL) to 9% through secondary market purchase of equity shares earlier this month. Carlyle has also said in a statement that it will join the board of India Infoline, although it remains to be seen if this becomes the case with Edelweiss too. The India Infoline deal was carried out by Carlyle s buyout team. Carlyle acquired all the shares held by Reliance Growth Fund for Rs per unit. Carlyle joins the list of Edelweiss PE backers that includes Singapore s GIC (8.23 % through Heliconia Pte), Greater Pacific Capital (5.15 %), Argonaut Ventures (1.54 %) and Sequoia Capital India (1.03 %). Rashesh Shah-led Edelweiss Financial Services has recently changed its name from Edelweiss Capital in order to reflect its expanding business presence to areas like insurance and housing finance. Edelweiss has also expressed its desire for a banking licence besides building up 4.9% stake in Catholic Syrian Bank Ltd, a Kerala-based private sector lender. The company has recently formed Edelweiss Tokio Marine Life Insurance, a joint venture with Japan s Tokio Marine. The company started with Rs 550 crore in capital and opened 19 branches in 14 cities across Gujarat, Maharashtra, Delhi, Haryana, Punjab and

11 Chandigarh. Edelweiss housing finance business, launched last year, has also built a loan book of Rs 350 crore. Nalanda Buys 5.02% In AIA Engineering Nalanda Capital Pte Ltd, a Singapore-based private equity firm founded by former Warburg Pincus India MD Pulak Prasad, has acquired more than 5% stake in Ahmedabad-based AIA Engineering over the past few months. The private equity firm has picked 5.02% stake through multiple market purchases which would have cost it between Rs crore. AIA Engineering manufactures and designs engineering components for various industries such as cement, mining and thermal power generation. The company also provides services for installation of high chromium wear and corrosion and abrasion-resistant parts used in these industries. According to its website, AIA is the second largest hi-chrome casting producer in the world. Nalanda India Equity Fund picked up the shares in the latest round of buying on October 28, when the share price of AIA closed at Rs 310. Other investors in AIA include PineBridge Investments Asia, T Rowe Price and Genesis Indian Investment Company, among others. With the peaking demand for high chrome mill internals for the mining segment, AIA is setting up additional 1 lakh MT capacity that will involve a capex of Rs 250 crore. Equity International Invests $75 mn In GTI Capital Backed SAMHI US based Equity International is investing $75 mn in GTI Capital backed SAMHI for developing hotels across India. Gurgaon based SAMHI Private Limited is a newly formed company focused on the development, acquisition and ownership of select-service, business-class hotels across India. It is founded by Ashish Jakhanwala, Manav Thadani and Steve Rushmore. Ashish, previously led the development of Accor's hotel portfolio in India, while Manav was the chairman of hospitality consulting firm - HVS and Steve is the founder of HVS. SAMHI is co-sponsored by GTI Capital Group. SAMHI is GTI Group first investment in hospitality sector. SAMHI has commenced development of properties in Bangalore, Chennai and Gurgaon which will comprise four hotels and 630 rooms with brands such as Courtyard and Fairfield by Marriott and Hyatt Place. In addition, the Company has a pipeline of opportunities in other of the country's top markets, including Delhi, Mumbai, Hyderabad, Pune and Kolkata. SAMHI also entered formed a JV with Marriott International to launch Fairfield by Marriott, a new hotel prototype designed specifically for the growing Indian business traveler segment. GE Capital Press Investment Exit Button On R Systems GE Capital's private equity arm has started exiting its decade old investment in R Systems International Limited, a Noida-based information technology firm. GE Capital Mauritius Equity Investment sold around 1.7% stake in the company for Rs 2.53 crore in a bulk deal. Another arm of GE, GE Strategic Investment India, also sold its 1.32% stake during the last quarter. In 2002, R Systems merged with Indus Software Pvt ltd, a banking and finance software and

12 services company which was backed by GE Capital and Intel Capital. The private equity investors got a stake in R Systems as a part of share swap in these transactions. GE Capital Mauritius Equity was allotted 2.98 million share of Rs 2 each at Rs , pegging the valuation of its stake at Rs crore. Another arm, GE Strategic Investment India, also picked up 445,000 warrants in the company convertible into one equity share of Rs 2 each. No news in the current week IDG Ventures Invests $4 mn In Valyoo Technologies IDG Ventures has invested $4 mn in Valyoo Technologies Pvt Ltd, which runs e-commerce businesses for eyewear (lenskart.com), watches (watchkart.com) and bags (bagskart.com). The funds will be used for starting new units for jewellery, health and beauty products, besides spending on marketing and logistics. The firm is looking at raising another $20 mn in it's next round of funding by February or March next year. As part of the investment, TC Meenakshisundaram and Venkatesh Peddi have joined Valyoo s Board of Directors as nominees of IDG Ventures India. Valyoo Technologies Private Limited was founded in 2008 by Peyush Bansal. Helion Venture Partners Invests In BabyCare Products Portal-Hoopos.com Helion Venture Partners has invested in Purple E-Retail India Pvt. Ltd, which runs babycare products site hoopos.com. The funds will be used for marketing initiatives, logistics and hiring. Hoopos.com was started in January 2011 by Vijay Jumani. He is also the co-founder of Inventis Retail Private Limited, which owns two one-stop shops for expecting moms and kids in the 0-6 age group in Bangalore. The portal hoopos.com offers a range of 6,000 products including diapers, bath and skincare, health and safety products for kids in the 0-10 age group and expecting moms. There has been a spurt of investments in portals targeting expecting moms and kids with Babyoye.com raising $2.5 mn from Accel Partners and Tiger Global and Firstcry.com raising $4 mn from SAIF partners in April. There are some others operating in this space including Hushbabies.com, Babybox.in and Kidloo.com.

13 Mobile Motion Raises VC Funding From Accel Partners & Mumbai Angels Bangalore based mobile website developer Mobile Motion has raised first round of VC funding from Accel Partners and Mumbai Angels. The funds will be used for the upcoming Touchsite platform, which is scheduled for closed beta launch this November. Last year, it had raised angel investment from an alumnus of IIT Madras and an entrepreneur. Mobile Motion was founded in June 2009 by Sharat Potharaju and Ravi Pratap Maddimsetty. Sharat is a post graduate from Duke University and an IIT- Madras graduate. Prior to Mobstac, he has worked with Merrill Lynch. Ravi Pratap has a Masters in computer science and engineering from Washington University in St. Louis and is an IIT-Madras graduate. Mobile Motion's flagship product-mobstac allows users to create mobile sites and blogs. MobStac supports a host of CMS platforms including Wordpress (self -hosted), BlogSpot, Drupal and Joomla. MobStac provides 1-click integration with almost all popular ad networks including AdMob, InMobi, Chitika and offers integration with Google Analytics too. It's new offering Touchsite is an HTML5 platform will render any RSS feed driven site to a beautiful touchsite that gives an app like leanback experience for tablet devices. Video Ad Technology Firm Jivox Raises $8.2 mn Jivox, an interactive video advertising technology company, has raised $8.2 million or Rs 40.6 crore in funding to support rapid adoption of its interactive video advertising technology, the company has said in a statement. The fundraising was led by Fortisure Ventures while existing investors Opus Capital and Helion Advisors also took part in this round. In addition, Mani Subramanian, CEO of Fortisure Ventures, and John Squires, CEO of Akademos, will join Jivox s board of directors, according to a company statement. Incorporated in 2006, Jivox is headquartered in San Mateo, California, with a development office in Bangalore and India sales offices in Bangalore, Delhi and Mumbai. The company provides interactive video advertising technology solutions for online media firms and advertisers for creating, customizing and distributing online video advertisements. The company also offers various ad creation tools and enables distribution through its network of media and content websites, as well as through directory listings, viral marketing programmes, campaigns and social networks. Advertisers and agencies run video ads on the premium Jivox Online Video Ad Network, which has an available reach of over 160 million monthly unique visitors. Jivox currently delivers more than 1,000 interactive video ad campaigns a month and enables interactive video ads to run on multiple screens with an ad serving infrastructure that can deliver at scale. The Jivox platform is used by several hundred media companies and agencies like AdBrite, Bloomberg, Komli, Weather Underground, Sun Times Media, InteractiveOne, Starcom, OMD, FUOR Digital, GroupM and Lee Enterprises.

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