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- Bangalore-based Dynamatic Technologies has acquired the German and Indian operations of the Germany-based automotive component manufacturer Eisenwerke Erla GmbH, a Sanmar Group company, through its wholly-owned subsidiary, JKM Erla Automotive Ltd. Sanmar bought the company in January, 2007.Dynamatic Technologies Ltd designs and builds products for automotive, aeronautic, hydraulic and security applications.The Eisenwerke Erla site has been in business for over 630 years and has manufacturing facilities in Erla, Germany, and Chennai, which together generate revenues in excess of ¤100 million. The company is a preferred supplier to global automotive OEMs including Audi, BMW, Borg Warner Turbo Emission Systems, Volkswagen and Daimler.The buy will not only grant Dynamatic access to customers in the global automotive and turbocharger markets, but will also enhance Dynamatic's design, development and manufacturing capabilities especially with respect to high precision, complex metallurgical products for automotive engines and turbochargers.Further, the acquisition of Eisenwerke Erla will grant Dynamatic ownership of one of the finest ferrous foundries in Europe, capable of manufacturing extremely intricate ferrous castings from difficult-to-cast materials. On May 7,2011 the company had announced the demerger of the Automotive Business of Dynamatic Technologies into JKM ERLA Automotive Limited.
- Pharma company Zydus Cadila plans to acquire a US-based generic pharma company. The Ahmedabad-based firm signed an asset purchase agreement with a US-based pharma company for a cash deal of $60 million. The deal also includes purchase of two generic drugs – Micro-K and Potassium Chlroide ER capsule products.It said Zydus Pharmaceutical USA Inc, through its subsidiary Zynesher Pharmaceuticals USA LLC has entered into an agreement to acquire the assets of the US based Nesher Pharmaceuticals Inc, a generic arm of KV Pharmaceutical. The parent company is based at St Louis, Missouri.KV Pharmaceutical an NYSE listed company said in its filing to US Securities and Exchange Commission, that in consideration for the divested assets of Nesher Pharma, Zydus agreed to pay $60 million cash. As per the agreement at the closing of the transaction, the buyer will deposit $7.5 million of the purchase price in an escrow arrangement for post-closing indemnification purposes. The transactions is expected to be closed during the second quarter of the Company's 2012 fiscal year.
- Mundra Port and Special Economic Zone Ltd (MPSEZL), the port arm of Adani Group's flagship company Adani Enterprises Ltd (AEL), announced its acquisition of a port Abbot Point Coal Terminal (APCT) in Australia for Rs 8,710 crore ($2 billion).The deal takes MPSEZL into the league of top global port companies, with its asset base of $100 million expanding to over $3 billion in 10 years, the company said.From a 2.5-million ton per annum (MTPA) capacity in 2001, MPSEZL has now risen to cargo handling capacities of over 200 MTPA.The sale-and-purchase agreement was signed on May 3 2011 at Brisbane, Australia, between MPSEZL Director Rajeev Sinha and officials of the government of the state of Queensland, making it the only acquisition outside India by any port company of the country, the company said.According to Chief Financial Officer B. Ravi, the deal is one of the largest amongst all port acquisitions in the world, and makes the Adani Group the largest Indian investor in Australia.
- Global software major Wipro on April 1 announced it would buy the oil and gas IT service business of the US-based Science Applications International Corporation (SAIC) for $150 million in an all-cash deal.The Virginia-headquartered SAIC's IT business unit provides consulting, system integration, and outsourcing services to global oil majors with domain expertise in digital oil field,petro-technical data management and petroleum application services for the upstream segment.“Post-acquisition, 1,450 employees of the $10-billion Fortune 500 firm will join Wipro and will be based across the United States, Europe,India and the Gulf region,” the company said in a statement in Bengaluru and in New York. The acquisition will also strengthen the IT bellwether's presence in the global oil and gas sector through its energy, natural resources, and utilities strategic business unit. “IT spend in the energy sector is expected to grow as customers look for newer streams of revenues, optimizing operational cost and finding better ways to become environmentally conscious,” Wipro Vice-President Anand Padmanabhan said.With oil and gas companies in the upstream business looking at rationalizing cost through IT, the domain consultancy and competencies of SAIC's IT services unit will enhance Wipro's position as an end-to-end leader in servicing customers. “Bringing our skills and client base to Wipro will increase our combined market potential,”SAIC's IT services unit Vice-President Rex Ballard said.
- Vedanta Resources bought a 10.4% stake in Cairn India from Petronas, becoming the second-largest shareholder in the company for which it has made a $9.6-billion bid to buy a majority stake.The London-listed mining and metals firm Vedanta's subsidiary Sesa Goa bought the 200 million shares for Rs 331 apiece in a block deal after Petronas International Corp of Malaysia decided to sell its 15% stake in Cairn India. Vedanta said the acquisition was in addition to the mandatory open offer to public for a 20% stake in Cairn India that it launched this month. The Cairn-Vedanta deal, announced last year, has been dogged by controversy for eight months but the company has obtained the regulator's approval to launch its open offer. Vedanta reiterated its interest in acquiring Cairn India, which it said would be "immediately earnings accretive" and said it may now acquire up to 70.4% stake in Cairn India, subject to government approval. "After obtaining all the necessary government approvals and consents, Vedanta looks forward to the completion of the Cairn India acquisition and would own 51-70.4% of Cairn India."
- Chennai-based Polaris Software Lab announced it is buying an 85% stake in San Francisco-based digital identity authentication services provider Iden-Trust for $20 million. The acquisition will mark Polaris' entry into the cloud computing space for financial technology solutions, the company said in a filing to the Bombay Stock Exchange. Iconic business executive John Sculley ended his stint as chairman of IdenTrust after overseeing the purchase.Sculley, who's also a partner at Rho Ventures, said there were others in the race too for a big pie of Iden-Trust.
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