GENPACT INKS
BUSINESS PROCESS MANAGEMENT DEAL WITH DR REDDY'S
BPO giant Genpact said it has signed an agreement with Dr Reddy's Laboratories to provide comprehensive finance and accounting (F&A) services to the pharmaceutical major.
As part of the deal, Genpact will take over Dr Reddy's shared services operations in Hyderabad, which supports the company's operations in India, the US and the UK.
Genpact will implement its best practices to make Dr Reddy's F&A processes more effective for accounts payable, accounts receivable, record-to-report and employee-related services.
"This engagement will ensure that our F&A support processes become more effective while we continue to focus on growing our pharmaceutical business across therapeutic segments and geographies," Dr Reddy's CFO Umang Vohra said.
This engagement between Dr Reddy's and Genpact was facilitated and managed by RvaluE Consulting.
"This partnership will bring to Genpact expertise in the generics pharmaceutical business and further growth of our client base in India," Genpact Senior Vice-President Harpreet Duggal said.
As part of the deal, Genpact will take over Dr Reddy's shared services operations in Hyderabad, which supports the company's operations in India, the US and the UK.
Genpact will implement its best practices to make Dr Reddy's F&A processes more effective for accounts payable, accounts receivable, record-to-report and employee-related services.
"This engagement will ensure that our F&A support processes become more effective while we continue to focus on growing our pharmaceutical business across therapeutic segments and geographies," Dr Reddy's CFO Umang Vohra said.
This engagement between Dr Reddy's and Genpact was facilitated and managed by RvaluE Consulting.
"This partnership will bring to Genpact expertise in the generics pharmaceutical business and further growth of our client base in India," Genpact Senior Vice-President Harpreet Duggal said.
L&T INFOTECH,
BMC SOFTWARE PARTNER FOR GLOBAL IT INFRASTRUCTURE SERVICES
IT firm L&T
Infotech today said it has entered into a global partnership with BMC Softwarefor providing IT
infrastructure management services.
BMC Software, headquartered in Houston, US, is a USD 2.2 billion firm offering Business Service Management (BSM) solutions.
Through this partnership, L&T Infotech and BMC aim to offer infrastructure management solutions like datacenter automation, IT service management andcloud computing management to global clients, the companies said in a statement.
Big Magic to be available on Reliance Digital TV *Reliance Broadcast Network today said its Hindi entertainment channel Big Magic will be available to Reliance Digital TV subscribers, replacing Imagine TV on the DTH platform.
BMC Software, headquartered in Houston, US, is a USD 2.2 billion firm offering Business Service Management (BSM) solutions.
Through this partnership, L&T Infotech and BMC aim to offer infrastructure management solutions like datacenter automation, IT service management andcloud computing management to global clients, the companies said in a statement.
Big Magic to be available on Reliance Digital TV *Reliance Broadcast Network today said its Hindi entertainment channel Big Magic will be available to Reliance Digital TV subscribers, replacing Imagine TV on the DTH platform.
L CAPITAL WALKS OUT
OF LILLIPUT KID SWEAR DEAL OVER VALUATION
Private equity fund L Capital Asia has withdrawn its offer to buy beleaguered kidswear
maker Lilliput due to differences over valuation and deal details.
"The deal is off. There were differences over valuation," Sanjeev Narula, founder of Lilliput Kidswear, said.
L Capital, the private equity division of luxury group LVMH, wanted to settle for a substantially lower valuation than what was initially agreed by choosing to buy only the retail assets of Lilliput, and not the entire company complete with its export and manufacturing divisions.
"The deal is off. There were differences over valuation," Sanjeev Narula, founder of Lilliput Kidswear, said.
L Capital, the private equity division of luxury group LVMH, wanted to settle for a substantially lower valuation than what was initially agreed by choosing to buy only the retail assets of Lilliput, and not the entire company complete with its export and manufacturing divisions.
WARBURG LEADS $32
MILLION INVESTMENT IN QUICKR.COM
US private equity firm Warburg Pincusalong with existing investors have pumped $32 million in
fresh funds into online classifieds firm Quickr
Quickr, which aims
to use the cash to expand across online and mobile platforms, said existing
investors that participated in this round include online retail giant eBay Inc, private equity Matrix
Partners Indiaand global venture capital firm Norwest Venture Partners.
EVERSTONE CAPITAL
BUYS MAJORITY STAKE IN R&R SALONS
Private equity firm Everston e Capitalhas acquired a significant stake in R&R Salons, a
Bangalore-based company that operates the YLG salon chain.
The fund will initially invest Rs 60 crore and will subsequently increase it up to Rs 109 crore ($20 million), according to a person directly involved in the transaction. The investment will come from Everstone Capital Partners ; a $580-million fund that the PE firm is currently investing from said the same person.
YLG, co-founded by Rahul Bhalchandra, former head of Pantaloon Retail's wellness division, runs 19 salons in Bangalore and one in Pune. The company has been on the look-out for a large capital infusion to build a national footprint. Jaspal Singh Sabharwal, Partner-Private Equity at Everstone Capital, confirmed the transaction but declined to share specifics.
The fund will initially invest Rs 60 crore and will subsequently increase it up to Rs 109 crore ($20 million), according to a person directly involved in the transaction. The investment will come from Everstone Capital Partners ; a $580-million fund that the PE firm is currently investing from said the same person.
YLG, co-founded by Rahul Bhalchandra, former head of Pantaloon Retail's wellness division, runs 19 salons in Bangalore and one in Pune. The company has been on the look-out for a large capital infusion to build a national footprint. Jaspal Singh Sabharwal, Partner-Private Equity at Everstone Capital, confirmed the transaction but declined to share specifics.
HCL TECHNOLOGIES
INKS PACT WITH UBM CANON FOR CONTENT MANAGEMENT SOLUTIONS
Software services
major HCL
Technologies has signed an agreement with UBM Canon to deliver
production and content
management solutions to the media and communications group.
The financial details of the deal were not disclosed. As part of the partnership, HCL Technologies will provide its production and content management service platform 'POMS' to enable establishment of a more dynamic system for creating, producing and delivering content across UBM Canon's product portfolio, HCL Technologies said in a statement.
This will help UBM in rapid and optimized content delivery over web, digital products, mobile and print environments, it added.
The financial details of the deal were not disclosed. As part of the partnership, HCL Technologies will provide its production and content management service platform 'POMS' to enable establishment of a more dynamic system for creating, producing and delivering content across UBM Canon's product portfolio, HCL Technologies said in a statement.
This will help UBM in rapid and optimized content delivery over web, digital products, mobile and print environments, it added.
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