The media was abuzz with the Rs 16,189 crore UltraTech Jaypee deal that was signed this June, where UltraTech had to raise the final price at the last minute to get Jaypee to sign on the dotted line.
Two Indian companies - Centum and Tech Mahindra - acquired international firms. Centum, which is in defence and aerospace electronics, acquired France's Adetel group, giving Centel access to Adetel's international client list and European market. Tech Mahindra acquired the UK based BIO agency, with the hope of building better integrated customer service.
Microsoft acquired Wand Labs Inc. Wand Labs is a startup founded by IIT alumnus Vishal Sharma, that has been working on developing more intelligent chat messaging tools.
AI in chat is becoming a big goal for companies like Microsoft, Google and Facebook, and Microsoft hopes that the acquisition will help it improve its Bing chat bot.
Another interesting acquisition was Tata Power's purchase of Welspun's green energy portfolio, which marks the biggest solar acquisition so far in India. This expands Tata Power's renewable energy portfolio. Welspun had been struggling to raise funds for its green energy business before resorting to this sale. Tata Power agreed to buy Welspun's solar and wind farms that were in operation, as well as those in the pipeline.
This is a significant acquisition for Tata at a time the Indian government is encouraging renewable energy solutions to meet the commitments of the Paris climate change agreements. And Eros Entertainment acquired Pooja Films, giving it access to content Pooja owned, such as the movies Bade Miyan Chote Miyan, and Coolie No. 1.
Acquiring company
Acquired company
Date
Acquisition goal
Dr. Lal PathLabs Ltd
Delta RIA and Pathology Lab Private Limited
Jun 1 2016
Better health diagnostics
HDFC Ergo
L&T General Insurance
Jun 6 2016
Insurance acquisition - L&T exits insurance
Prism Cement Limited
15.23 percent stake in BLA Power Pvt Ltd
Jun 8 2016
Reduce cement production costs
Tata Power
Welspun Energy Pvt Ltd
Jun 14 2016
Largest solar power acquisition in India
Gaia Smart Cities Solutions Pvt Ltd
IoT business of Netcore
Jun 14 2016
Brings IoT capabilities into Gaia
Microsoft Corporation Pvt. Ltd.
Wand Labs Inc
Jun 18 2016
More intelligent messaging apps
Centum Electronics
51% stake of France's Adetel Group
Jun 18 2016
International presence in defence, aerospace
Eros International Media Ltd
50 per stake in Puja Entertainment and Films Ltd
Jun 21 2016
Access for Eros to better quality content
Tech Mahindra
UK-based The BIO Agency Limited
Jun 21 2016
Access to customer service tools
TPG Capital
ICICI Home Finance Co Ltd
Jun 23 2016
Access to India's home lending market
