NORWEST VENTURE PARTNERS INVESTS $ 15 MILLION IN MANTHAN SYSTEMS
IT company Manthan Systems has secured $ 15 million investment from the US-based Norwest Venture Partners and it will use the same for funding acquisitions and other business expansion plans.
The company, a software solutions provider for retail and consumer packaged goods industries, had earlier raised $ 35 million from Fidelity, IDG Ventures and other sources.
As a result of the funding, NVP India's Executive Director Mohan Kumar India will be joining Manthan's Board, Manthan Systems said in a statement.
The company, a software solutions provider for retail and consumer packaged goods industries, had earlier raised $ 35 million from Fidelity, IDG Ventures and other sources.
As a result of the funding, NVP India's Executive Director Mohan Kumar India will be joining Manthan's Board, Manthan Systems said in a statement.
IDG VENTURES INDIA AND SAIF PARTNERS PUMP IN $14 MILLION IN E-COMMERCE START-UP
Technology investors IDG VenturesIndia and SAIF Partners have closed one of the biggest venture investments in a specialised online retailer, pumping $14 million (Rs 68 crore) into e-commerce firm BrainBees Solutions, which runs baby-care portal First Cry and the newly-launched GoodLife for beauty and wellness products.
It comes just a week after online fashion retailer Myntra announced a $21 million funding from a consortium of investors, including IDG, which is leading the wave of risk capital funding for specialist start-ups.
COGNIZANT BAGS 5 YEAR MULTI-MILLION DOLLAR IT OUTSOURCING DEAL FROM FUTURE GROUP
IT major Cognizant said it has bagged a five-year, multi-million dollar, engagement with Future Group to provide end-to-end IT infrastructure services for all group companies.
The deal size, however, was not disclosed. Future Group, one of the country's largest multi-format retail groups, operates chains like Pantaloons, Big Bazaar,Food Bazaar, Central, Home Town, and eZone.
The deal size, however, was not disclosed. Future Group, one of the country's largest multi-format retail groups, operates chains like Pantaloons, Big Bazaar,Food Bazaar, Central, Home Town, and eZone.
TELENOR SEEKS SPLIT, ALIMONY FROM UNITECH
Norwegian telecom company Telenor has served a divorce notice to Unitech, seeking compensation from the Indian firm for damages caused to their mobile venture, Uninor, from a recent Supreme Court judgment, and said it was looking for a new partner in India.
Europe's third-biggest telecom company said it no longer believed that its strategic partnership with Unitech had a future and would start the process of looking for a new Indian partner.
Europe's third-biggest telecom company said it no longer believed that its strategic partnership with Unitech had a future and would start the process of looking for a new Indian partner.
KELLOGG TO BUY PRINGLES FROM P&G FOR $2.7 BILLION
Kellogg Co will buy the Pringles business from Procter & Gamble Co for $2.7 billion in cash, as it aims to build its position in the global snacks market comparable to its strength in the cereal business.
P&G said the deal would lead to an after-tax gain from the deal of $1.4 billion to $1.5 billion, or 47 cents to 50 cents per share, which it was the same as estimated when it first announced the deal with Diamond last year.
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