The Venture Intelligence Blog

Private Equity investors are bagging smart gains from their packaging company investments. Here are details of two such large M&A deals in the sector: Venture Intelligence  is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India.

Shardul Amarchand Mangaldas and Bathiya Legal claim the No.2 & No.3 slots Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions by value during Q1 2023 . The firm advised M&A deals worth $2.9 Billion (across 23 qualifying deals) during the period. Shardul Amarchand Mangaldas (SAM) took the second spot, having advised 8 M&A deals worth $2.5 Billion. Bathiya Legal ($2.1 Billion across 7 deals) and Shearman & Sterling ($1.2 Billion across 2 deals) took the third and fourth spots, respectively. AZB & Partners (AZB) ($1.1 Billion across 16 deals) 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 transactions advised by Financial and Legal Advisory firms. Among the largest M&A deals during Q1 2023, SAM advised GMR Airports Infrastructure on its $1....

Culturelytics-Venture Intelligence Survey Report Globally, mergers and acquisitions worth a total of more than $4 trillion take place every year. Studies show that more than 85% of these deals fail to create value, and in more than 30% of these, cultural misalignment is one of the key reasons cited. COVID-19 will almost certainly trigger a significant wave of consolidations and a big spike in M&A activity, as companies scramble to survive and win in a marketplace characterized by VUCA. These deals are likely to be more cross border control stake transactions. We already see China making big investments in Italy, and Japanese companies turning their attention away from China towards India. Culture has never been more important than now.  Key Findings: Great team vs Great Idea:                                                      ...

Silicon Valley lore has several famous episodes of acquisition talks that did not materialize: from that of Google by Excite (whose CEO apparently refused to pay up $75,000) and by Yahoo  (when the Google founders walked away from a $3-B offer) and that of Yahoo (for $44.6 B) by Microsoft . In March 2015, the lore extended to Indian shores when,  InMobi - which dares to combat Google and Facebook in the mobile advertising segment - walked away from a $1 billion offer from the search engine giant (according to multiple media reports, sample:  Business Insider ). Will  InMobi CEO Naveen Tewari's decision to walk away  turn out as well as that of Google's own or more Yahoo like? Only time will tell. But questions are being raised as to why, when other Indian startups like Flipkart, Snapdeal and Ola are able to attract investments at   valuations of multiple billions of dollars with seeming ease  over the last couple of years, hasn't InMobi (that las...

Private Equity AZB & Partners has retained its status – for the fourth consecutive year - as the Most Active Legal Advisor for Private Equity transactions during 2013. According to the Venture Intelligence League Tables, AZB finished the year with 166 points (across 42 qualifying deals). ALMT Legal and K Law vaulted to the second spot with 80 points (across 20 deals) each.   Amarchand & Mangaldas , Samvad Partners and NovoJuris finished joint third with 76 points each (across 19 deals). The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms. AZB advised PE deals during the period included KKR’s acquisition of controlling stake in Alliance Tire Group and Baring Asia's $256 million investment in Lafarge India . Large transactio...

Ernst & Young retains Most Active Transaction Advisor status inclusive of due diligence, other services Unitus Capital and BMR Advisors made their entry into the top of the Venture Intelligence League Tables for the Most Active Transaction Advisors for Private Equity and Mergers & Acquisitions deals respectively in calendar 2013. The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms. Private Equity Unitus Capital made its entry into the top of the Venture Intelligence League Table for Most Active Transaction Advisor (Private Equity) for calendar 2013 acting as financial advisor to 13 qualifying PE investments during the year (and notching up 50 points). Among the transactions advised by Unitus were the $57 million investment by Citi, Morga...

Technology Holdings' client, Allsec Technologies, has completed the acquisition of Retreat Capital Management, a full service mortgage BPO company headquartered in Irvine. Technology Holdings was the exclusive advisor on the transaction. Retreat Capital is an end-to-end provider of loss mitigation and portfolio management services for mortgage lenders, servicers, asset managers and investors. Established by industry professionals with over 25 years in the mortgage and real estate industries, Retreat Capital was created to serve as a single-source solution for reducing costs and mitigating loss at every stage of the mortgage process, from predictive modeling to processing through REO management. Allsec Technologies is a leading Business Process Outsourcing service provider headquartered in Chennai, whose investors include The Carlyle Group. Allsec's stock exchange announcement is here For additional information, please contact: Vivek Subramanyam Managing Director vivek@technolog...

In the context of the recent acquisition of Capital Markets focused IT Services firm Headstrong by BPO giant Genpact, former Infy sales head Basab Pradhan, has an interesting post suggesting that the answer is yes. Genpact had to bulk up its IT Services business. IT Services offers both higher margin and higher growth. Both of which Genpact has not been able to deliver, at least to the satisfaction of investors whose expectations are benchmarked to the early days of the IT Services industry. ...A few months back I had written about Cognizant’s rumored interest in Genpact. Eventually, nothing came of it. But I thought that that would have been a very good combination. Sort of a dream team – the fastest growing services company and the best BPO company. ...This is a good time for bankers in the Offshore services industry. More transactions are to be expected. Watch this space. Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on ...

In the wake of IT Product companies like Xerox and Dell buying their way into the IT Services world through multi-billion dollar deals, Reuters - quoting industry analysts - has an article that lists significantly India-based companies like Cognizant, WNS, ExlServices among the list of "attractive acquisition candidates". (Other companies on the list include Sapient, CSC and Amdocs.) Possible acquirers could be tech giants such as IBM , Hewlett-Packard or Cisco, European players like BT or Deutsche Telekom and Asian companies like Hitachi , Fujitsu or NEC, analysts said. "There's definitely going to be some strategic acquisitions -- there's no doubt about that," Goldman Sachs analyst Julio Quinteros said. "It's just, how much are you willing to pay? And would you rather wait for the market to come back a little bit?" The recurring revenue stream that IT services firms have gives them more visibility and stability. ... One group of services fi...