Atul Karmarkar.Com

Barely weeks after Infosys announced it’s plans to acquire the Axon Group, HCL Technologies has decided to make a counter offer for around £441 million ($814 million). HCL is offering 650 pence a share, or 8.3% more than Infosys’s 600 pence bid.

Google Inc acquired Tatter and Company, the owners of popular Korean blogging platform, Textcube. Neither company was willing to divulge how much the deal value was. Tatter co-CEO Chang-Won Kim made the announcement on his personal blog saying, "We’ve been Googled!".

India’s Infosys Technologies has made an offer to acquire UK based Axon Group Plc in an all cash deal worth £407.1 million ($753 million), or Rs.3,269 crore. This is the biggest overseas acquisition by an Indian IT outsourcing company. Wipro’s deal to buy US tech firm Infocrossing Inc. last year for around $600 million (Rs.2400 crore) was the previous benchmark. The [...]

Consolidation is the name of the game now, and after some dilly-dallying, Idea Cellular finally bought out promoter B.K Modi’s stake of 40.8% in Spice Communications for Rs 2,720 crore, including non-compete fees (Rs.544 crore). This values Spice at close to Rs.6,800 crore. Idea is India’s fifth largest mobile phone company, and post this deal, expects to add [...]

Close on the heels of it’s acquisition of the promoter stake in Ranbaxy, Daiichi Sankyo has announced an open offer to acquire an additional 20% stake (92 million shares) in Ranbaxy. The company offered to buy back shares at Rs.737/share, the price at which it bought out the promoter stake. The offer opens on 08-Aug-08 and closes on [...]

Yahoo has formally terminated any chances of a deal with Microsoft while announcing a non-exclusive agreement with Google, who also explained the nitty gritty of the deal on the Google Blog. Some takeaways;

At a time when Indian companies are making waves by buying companies abroad, it came as a complete surprise to know that leading Indian pharma company Ranbaxy has been acquired by Daiichi Sankyo Company Ltd. of Japan. This is one of the largest deals in the Indian pharma industry. The Singh family have agreed to sell their promoter holding [...]