Skip to main content

Flextronics' CEO on the cos' plans for India

By
Singapore-based contract electronics manufacturer Flextronics has made several aggressive strategic investments in India in recent months as part of its move to make India its global center for software product design and infrastructure.

In May, Flextronics had led a $10 million investment in Silicon Valley and Bangalore, India based chip design firm inSilica. In June, Flextronics had acquired a 55% stake in publicly listed telecom software firm Hughes Software Systems for $226 million in an all cash deal. It late August, it acquired Chennai-based communications software firm FutureSoft (formerly Future Software) for 440 million.

Here are some extracts from Business Today magazine's interview with Flextronics' CEO Michael Marks:

On the Hughes acquisition:

We have really big plans for Hughes. We have a big infrastructure business and we believe we can grow the company (Hughes) faster and derive greater value for our entire company than what Hughes would on its own. So that's the judgement we made, and, in all seriousness, we won't be able to tell whether we got a fair value for a while yet. Winning by bidding is not winning. We have valued the company based on the overall value it adds, and Hughes is an outstanding opportunity for us.

On the prospects for more acquistions:
Certainly nothing major. We did Hughes because of their telecom domain expertise, we did FutureSoft because of their data communication domain expertise. If we can find other companies that have expertise that we need, we'll look at them. But we've got our hands full right now.

Popular posts from this blog

EY Tops League Table for Transaction Advisors to M&A deals in 24

By
Moelis & Company & PwC claim the No.2 & No.3 slots Ernst & Young  (EY) topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals   during 2024, advising 34 deals worth $4.1 Billion. Moelis & Company stood second advising 2 deals worth $3.9 billion. PwC followed with 18 deals worth $3.3 billion. Citi ($2.5 billion across 1 deal) and Advay Capital ($2.3 billion across 1 deal) completed the top five. Among the largest M&A deals in 2024, Citi  advised $2.5 Billion acquisition of the Indian business of American Tower Corporation by Brookfield , Advay Capital and Moelis & Company advised the $2.3 Billion acquisition of Care Hospitals by Aster DM Healthcare . Jefferies & Co., JP Morgan and Moelis & Company advised the $1.6 Billion acquisition of Bharat Serums & Vaccines by Mankind Pharma.  Among the other notable M&A deals in Q4 2024, EY advised the $685 million acquisition of ITD Cementation ...
Read more

Morgan Stanley tops League Table for Transaction Advisors to M&A deals in 2020

By
Morgan Stanley , which advised the $10.1 Billion strategic investment by Facebook and Google into Reliance Industries' telecom arm Jio platforms (among other Private Equity investments in the company), topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals for 2020. Ambit Corporate Finance - which advised 3 deals worth $4.0 Billion, including Brookfield's $3.7 Billion acquisition of Reliance Tower Infrastructure Trust -  took the second spot. JM Financial ($3.7 Billion across 5 deals), Metta Capital ($3.4 Billion across 3 deals) and ICICI Securities ($3.4 Billion across 2 deals) - all of whom (along with Citi) are advisors to the $3.4 Billion acquisition of Future Group's retail related ventures by Reliance Retail, announced in August - completed the top five. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE and M&A tra...
Read more

Everything you wanted to know (and some things you didn't care to know) about ChrysCapital's Ashish Dhawan

By
New Delhi-based private equity fund ChrysCapital is vastly different from its former avatar, Chrysalis Capital. While Chrysalis began life (in Mumbai) as an venture capital firm focussed on start-up investments, today's ChrysCapital is best know for its late-stage investments (often in already public companies). The fascinating part of this transformation is that one of the fund's original partners - Senior Managing Director Ashish Dhawan - has been firmly in the driver's seat throughout the process. It's a story that needed to be told. As a cover story. Kudos to Business Today for telling it first. Thankfully, unlike the glowing profiles that BT is famous for - including the one featuring infamous stock brocker Harshad Mehta with his Lexus on the cover - this one has a lot of facts. Some well known. And others less so. That ChrysCapital's first fund would have been a disaster but for the pioneering investment in Raman Roy founded BPO firm Spectramind i...
Read more

APEX VC Awards: Chiratae Ventures, Blume Ventures, Elevation Capital, Stride Ventures & Alteria Capital judged best funds of 2021

By
Press Release Elevation Capital , Chiratae Ventures , Blume Ventures , Stride Ventures and Alteria Capital were voted the top Venture Capital investors in India during 2021. The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. "VCs exist because Entrepreneurs exist and disrupt the ecosystem by creating new businesses. We are very excited to be part of the secular trend of tech disruption that would power India’s journey towards $ 10 Trillion economy over the next decade," said  T C Meenakshi Sundaram, Founder & Vice Chairman, Chiratae Ventures , winner of " VC Fund raise of the Year " award.  " We wish to thank all our entrepreneurs who have chosen to take funding from Chiratae Ventures and investors who have backed us with funds over the past 15 years in this journey.  Congratulations to the entire Chiratae Ventures team and ...
Read more

VC Interview: Shailendra Singh of Sequoia Capital India

By
In a recent interview to Venture Intelligence, Shailendra Singh discussed some of the firm’s newer investments in the early stage segment including in the online payments space, the progress at a few existing portfolio companies and the active role the firm is playing in helping its portfolio companies scale and succeed in India and globally. Prior to joining the firm in 2006, Singh was a strategy consultant at Bain & Company in New York and before that, an entrepreneur in the digital media industry. Venture Intelligence: How does Sequoia go about identifying potential early stage investments in India? Is there anything different you are doing today than, say, a couple of years back? Shailendra Singh: There is a lot more focus on technology investing and early stage investing. In general, as you might remember a few years ago, we were doing primarily growth investing but in the past 18-odd months, we have had a very strong focus on early stage and that’s continuing. In terms...
Read more