Oyo buys Las Vegas Hooters hotel

In what is its first property purchase in the U.S. Softbank backed Oyo hotels and homes, has bought the Hooters Casino Hotel Las Vegas. Hooters Casino Hotel will now be rebranded and designed as Oyo Hotel & Casino Las Vegas. It provides 657 rooms across 19 floors and a 35,000 square-foot casino.

Earlier in June, Oyo had announced its plan to invest $300 million in the U.S. Currently, there it has over 112 Oyo Hotels in more than 60 cities and 21 states in the U.S. Oyo has been on an acquisition spree. In July, it confirmed its acquisition of Innov8, a co-working spaces provider, highlighting the company’s increasing focus on the fast-growing segment.

Founded in 2013, OYO Hotels & Homes is the world’s third-largest chain of hotels, homes, managed living and workspaces. The portfolio combines fully operated real estate comprising of more than 23,000 hotels and 125,000 vacation homes. Over the years, it has attracted an array of investors including the likes of Airbnb, SoftBank Vision Fund, Lightspeed Venture Partners, Greenoaks Capital, Sequoia Capital India, and Hero Enterprise.

In May, Oyo said it has agreed to acquire Amsterdam-based Leisure Group, from Axel Springer, a media and technology company, for an undisclosed amount. Leisure is a vacation rental company in Europe, which manages holiday homes, holiday parks, and holiday apartments. The transaction was pegged around $416 million, according to several media reports. Last year, it acquired Mumbai-based Weddingz.in, an online marketplace for wedding venues, and AblePlus Solutions Pvt. Ltd, an Internet of Things (IoT) technology company.

TCS acquires BridgePoint Group

Tata Consultancy Services, a leading global IT services, consulting and business solutions organization announced the acquisition of BridgePoint Group, LLC, and a US management consulting firm catering to the financial services industry, and specializing in retirement services, through the purchase of select company assets.

This acquisition augments TCS’ financial services and insurance domain knowledge, particularly in the area of US retirement services, where BridgePoint team of experts currently provide strategic insights and advisory services around growth, business agility, customer experience and technical transformation. TCS currently partners with eight of the top 10 US Banking, Financial services and Insurance Institutions, and offers retirement services across the globe.

BridgePoint entire management team and key experts will join TCS. Their deep customer relationships and significant industry knowledge adds to TCS’ ability to provide digital solutions that enhance sponsor and participant experience, and drive Business 4.0 transformations in the $1 trillion US retirement services market.

The US retirement business is complex, so Bridge Point’s deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business.

8K Miles acquires NexAge

Public listed cloud solutions provider 8K Miles Software Services Ltd, through its US arm 8K Miles Software Services Inc. has acquired NexAge Technologies USA Inc. for $3 Million in a cash and stock deal. The transaction also includes the existing debt of NexAge.

NexAge is one of the regulatory compliance and technology solutions companies in the US for the life sciences and pharmaceuticals industry. The agreement signed by the companies includes acquisition of intellectual property, technical solutions, client contracts and employees. Through this acquisition, 8K Miles will get access to the network of enterprise customers and strategic partners acquired by NexAge during the last decade.

8K Miles will boost their world class CloudExRx solution that has been designed to address qualification and validation compliance for applications running on the cloud securely with a purpose of empowering pharmaceutical and life sciences enterprises to use cloud services across value and supply chains. 8K Miles is an public listed firm in India with an operation base in Chennai.

8k Miles provides SMAC (social, mobile, analytics, and cloud) solutions for connectivity between consumers, SMBs, enterprises, and government agencies. Its flagship solutions ExIAM provides capabilities for user management, user provisioning and access requests for end users. Recently, the company acquired Cintel Systems Inc. a US based mobile application development and Services Company. In March, it acquired SaaS startup and in November 2014, it had acquired SERJ Solutions.

Cipla to acquire two US Pharma Companies

Cipla EU Ltd will acquire two US-based companies, InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc., for $550 Million to strengthen its presence in world’s largest drug market. The combined revenue from these transactions is more than $200 Million for the year ended December and more than $225 Million in the 12 Months to June.

The all-cash transactions will give the company scale in the US generics market through a wide ranging product portfolio in central nervous system, cardiovascular system, anti-effectives, diabetes, as well as other value added generics. This is Cipla second largest acquisition in its 80 years of existence in 2013. Cipla acquired 100% stake in South African arm Cipla Medpro South Africa Ltd for Rs. 2707 crore.

With these acquisitions, the US now will have sales of $400 Million, accounting for almost 16-17% of its estimated earnings. InvaGen Pharmaceuticals has 40 ANDAs, 32 marketed products and 30 pipeline products expected to be approved over the next four years. In addition, InvaGen has filed five first to file products, which represent a market size of $8 Billion in revenue by 2018.

The acquisition of Exelan Pharmaceuticals provides Cipla access to the government and institutional market in the US. Generic Pharmaceuticals make up 80% of the prescriptions dispensed in the US but account for just 27% of total drug spending. The US generic drug market is estimated at a yearly $35 Billion.

Aricent Acquires SmartPlay

Aricent Inc., a US based company providing Software and engineering services, has acquired Bangalore based Chip design services firm SmartPlay Technologies Pvt. Ltd. for around $180 Million. This is one of the biggest acquisitions in the semiconductor space in India. It is also Aricent fifth and the biggest ever acquisition in the country.

SmartPlay has around 1,200 employees in India, Germany, Singapore and the US. The acquisition will also expand Aricent 10,000 strong engineering team, which caters to nine core industries including telecommunications, networking, consumer electronics, industrial automation, semiconductor, automotive, internet services, consumer and enterprise software, media and entertainment.

The acquisition follows France based Technology consulting firm Altran acquisition of India based SiCon Design Technologies last month and the acquisition of Bengaluru based Cosmic Circuits in 2013 by Cadence Design Systems of the US, and demonstrates India’s growing and deep strengths in semiconductor design. SmartPlay was founded in 2008.

Aricent started in late 1990s as Hughes Software, a firm that was acquired by Flextronics International. In 2006, private equity major Kohlberg Kravis Roberts and Co. acquired a majority stake in the venture and renamed it Aricent. Aricent previously acquired four other Indian firms – FutureSoft, Emuzed, Deccanet and Tenet Technologies. 

Lupin acquires US Generic firm Gavis

Mumbai based drug maker Lupin Ltd has entered into a definitive agreement to acquire New Jersey based privately held Gavis Pharmaceuticals Ltd and Novel Laboratories Inc. for $880 Million to expand in the US generic drug market. This is the biggest acquisition in the US by an Indian company. The acquisition is cash free and debt free.

Gavis brings to Lupin a highly skilled US based R&D organization, which would complement Lupin Coral Springs, Florida, inhalation R&D center and a New Jersey based manufacturing facility which will become Lupin first manufacturing site in the US. The acquisition enhances Lupin scale in the US generic market and also broadens its pipeline in dermatology, controlled substance products and other high valued and niche generics.

On 2^nd July, Lupin had acquired Russian company Biocom for an undisclosed amount. The company required sales of 861.2 Million Ruble in fiscal year 2014. In May 2015, Lupin entered into Brazilian pharmaceuticals market by acquiring Medquimica Industrial Pharmaceutical S.A Brazil for an undisclosed amount.

Lupin had strengthened its position in Latin American market last year by acquiring Laboratories Grin SA, the fourth largest pharmaceutical company in Mexico in the eye care segment, with sales of $28 Million in 2013. 

Mindtree Acquires Bluefin Solutions, Relational Solutions

Digital seems to be the flavor of the season. After similar moves by large peers, mid-sized Information Technology Company Mindtree has announced two acquisitions in the space, spending Rs 425 crore to shore up its digital business.

The company will acquire British Technology Consultancy Bluefin Solutions and US based analytics firm Relational Solutions. For Bluefin Solutions, Mindtree will pay Rs 423 crore. The UK headquartered company presently has a revenue run-rate of Rs 287 crore. The acquisition will help Mindtree gain about 50 clients in US and UK. Bluefin currently employs 170 consultants.

Relational Solutions is a provider of analytics for consumer packaged goods retail execution; Mindtree will pay Rs 63 crore in cash. The Ohio headquartered company had reported revenue of $3.2 Million in previous calendar. This buy will help Mindtree acquire analytics capabilities to offer insights on movement of goods such as beverages or chocolate for manufacturers. 

Marksans Pharma Buys Time-Cap Laboratories

Drug Maker Marksans Pharma had acquired US based Time-Cap Laboratories for an undisclosed amount. The acquisition was done through its wholly owned subsidiary Marksans Pharma. With the move, the company is strategically increasing its presence in the US Market, the largest pharmaceutical market in the world.

Marksans is engaged in research and development, manufacturing and marketing of generic drugs. New York based Time-cap manufactures solid dosage generic drugs, including private label over the counter medications, prescriptions drugs and nutritional supplements. Its average annual revenue over the last four years is over $30 Million and it achieved an annual adjusted EBITDA of approx. $4 Million.

The company currently has no debt. The company manufactures over 50 unique products from its New York facility, including tablets, caplets, capsules, and pellets. Time-cap offers Marksans an ideal platform to expand its operation in the US. The strategic acquisition helps Marksans to expand its manufacturing capabilities along with product portfolio and penetration in the US. Shares of Marksans rose over 6% after the company reached an agreement with its bondholders.

Zomato acquires US based NexTable

After acquiring data firm MaplePOS few days back, now India based restaurant listing site Zomato has acquired US based restaurant reservations and table management platform NexTable. Service will soon be renamed as ‘Zomato Book’. Zomato will be taking NexTable technology in three international markets i.e. India, UAE, and Australia. This is the company second acquisition in US after Urbanspoon for $52 Million.

NexTable enables customers to make restaurant reservations online in real time and includes table management and marketing tools for restaurants. Zomato has been focusing on creating a seamless in app-experience for customers, and has been working on moving beyond just restaurant search and discovery, into reservations, online ordering, and in-app cash payments.

Zomato has been aggressively growing its product offering for restaurant business. Adding NexTable and MaplePOS into the fold now enables Zomato to offer POS Solutions, table management and reservation system services to restaurant businesses. It already allows restaurants businesses to update their menus, deals and discounts on a real time basis on Zomato.

The NexTable deals make for a total of nine acquisitions in the past nine months for Zomato. The largest of these was the acquisition of Urbanspoon. Zomato has also acquired dominant local restaurant search players in New Zealand, Poland, Czech Republic, Slovakia, Turkey, and Italy.

Mylan acquired Famy Care Business

Mylan Inc. is a global generic and specialty pharmaceuticals company headquartered in Pennsylvania. In 2007, Mylan acquired a controlling interest in India based Matrix Laboratories Limited, a top producer of generic drugs, and the generic business of Germany based Merck KGaA. Through these acquisitions, Mylan has grown from the third largest generic company in United States to the second largest generic and Pharmaceuticals Company in the world.

Recently, Indian subsidiary Mylan Laboratories Limited, signed a definitive agreement to acquire certain female health care businesses from Famy Care Limited, a specialty women’s health care company with global leadership in generic oral contraceptive products for $750 Million in cash plus additional contingent payments of up to $50 Million. The acquisition will build on Mylan existing partnerships with Famy care in North America, Europe, and Australia.

Famy Care, headquartered in Mumbai, India, offers a comprehensive range of women’s health products including oral and injectable contraceptives, intra-uterine devices (IUDs), tubal rings, and hormone replacement therapy products. More than 15% of the world women using oral contraceptive pills today use a Famy Care product. It is the world largest producer of generic OCPs, with four high quality-manufacturing facilities in India, two of which have been approved by U.S. Food and Drug Administration (FDA) and the European Union.

Famy Care is the first generics company to have received prequalification from the WHO for hormonal contraceptives. This manufacturing base represents one of the lowest cost and largest dedicated to OCPs globally, and brings Mylan Strong capabilities in OCP cycles, injectable, IUDs, and tubal rings. Famy Care has a strong presence in the private, institutional, and non-governmental organization sectors and markets its products in more than 90 countries around the world.

Google to buy Softcard

Google is reportedly is in talks to purchase Softcard, a mobile payments service in direct competition with Apple Pay, sparkling speculation the company may be readying itself to take on the consumer electronics giant. If the deal pushes through, Google will be paired with the biggest carriers in the United States in its bid to challenge the Apple Pay service in the burgeoning mobile payments industry.

Softcard is owned by AT&T, Verizon Wireless, and T-Mobile USA, but is currently searching for a buyer after making more than 60 employees redundant. Google offered $50 Million for the company, while PayPal and Microsoft have also reportedly expressed interest. Google Mobile payment service, Wallet was somewhat ahead of curve but has not made the impact the company may have hoped after key telecommunications companies, such as Verizon.

Softcard is taking steps to reduce costs and strengthen its business. This includes simplifying the company organizational structure and consolidating all operations into its Dallas and New York offices, which involves across the company. According to reports, Apple Pay could arrive in the UK in the first half of 2015, after the service US release back in the October 2014.

Google original vision for Wallet included a closed loop advertising system that would use purchases in physical stores to improve the targeting of digital ads. The plan was to share some of this ad revenue with the wireless carriers, but the companies could not agree on how to do that. A Google acquisition of Softcard could revive these types of advertising deals and put Google and the telecom companies in a better position to compete with Apple Pay. 

Zomato acquires Urbanspoon

Online restaurant guide Zomato has stepped into lion’s den in the United States with an estimated $60 Million (Rs 370 cr) acquisition of Seattle based food portal Urbanspoon. This deal will bring into direct confrontation with Yelp. This is Zomato sixth acquisition in the last six months and their first in 2015. Zomato is also in talks to raise $100 Million after this deal.

Urbanspoon is an IAC owned restaurant information and recommendation service that operates in Australia, Canada, New Zealand, Ireland, the United Kingdom, and the United States. Hence, this acquisition also establishes Zomato presence in Australia and Canada, while adding to its position in United Kingdom and New Zealand. After the acquisition, Zomato will be present in 22 countries across the world. Its restaurant coverage will increase from about 300k restaurants to more than 1 Million restaurants across the globe.

The teams will be working closely over the coming months to integrate Urbanspoon into Zomato. In due course of time, all Urbanspoon traffic will move to Zomato.com, and all Urbanspoon app users will be able to use the Zomato app. This acquisition also has a lot to offer to restaurant business. Zomato hyper local advertising model, combined with the Zomato for Business app suite, will allow restaurant businesses to reach out to, connect with, and engage customers like never before.

This is the biggest acquisition of Zomato in the last six months. It has recently acquired local restaurant search player in New Zealand, Poland, Czech Republic, Slovakia, and Italy. The startup is likely to be valued at about $1 Billion after completing the fresh round of investment. With their aggressive expansions in the world, investors are planning to invest more in the company. After this acquisition Zomato is in clear competition with Yelp, which is a public listed company and world largest.