Atos, a global leader in digital transformation has completed the acquisition of Syntel Inc., a leading global provider of integrated information technology and knowledge process services headquartered in Michigan, with $924 million revenue in 2017 of which 89% is in North America, 25% operating margin, and 40% of its activities in digital, automation, and robotization. Syntel offers its customers high value-added digital services in several specific verticals such as Banking and Financial Services, Healthcare, Retail and Insurance.

Commenting on the finalization of the deal, Thierry Breton, Atos Chairman and CEO said

Today marks a new major step in the development of the Group, as we welcome more than 23,000 Syntel employees to Atos. With this transaction, we take a new dimension to accelerate the digital transformation of our customers worldwide, while strongly reinforcing our Business & Platform Solutions activities with new clients in North America and a delivery platform from India with a consistent and competitive size to support our customers in their digitalization journeys.

We worked extensively to be ready from day one post-closing and to ensure continued delivery of services to our clients while at the same time leveraging the combined strengths of the two Groups for profitable growth. In that regards, Syntel will operate as a dedicated unit named Atos Syntel within our Business & Platform Solutions Division.

Pursuant to the terms of the Merger Agreement, announced on July 22, 2018 and approved by Syntel’s shareholders on October 1, 2018, Syntel today becomes a wholly owned subsidiary of Atos. The purchase price of $ 3.4 billion and the repayment of Syntel’s outstanding debt for $ 0.3 billion were financed through debt fully underwritten by BNP Paribas and J.P. Morgan Securities PLC, whose syndication closed largely oversubscribed with a group of 25 banks. As a result of the acquisition, Syntel shares will cease trading, and will be delisted from the NASDAQ.

The Group expects to generate compelling and significant synergies both at revenue and cost levels. Strong portfolio and complementary customer bases between the two companies will generate multiple cross-selling opportunities, leading to expected revenue synergies of $ 250 million by the end of 2021, with 20% operating margin, half of them planned by the end of 2020. Atos will also benefit in particular from tangible operational improvement by taking advantage of Syntel’s current offshore, automation, and robotization capabilities. Cost synergies are planned to be generated in particular by applying Syntel’s best practices on the existing Atos Business & Platform Solutions operating model. The total cost benefits are estimated at $ 120 million per year on a run rate basis by the end of 2021 with a linear phasing.

The transaction is expected to be EPS accretive immediately with double digit accretion as early as 2019 excluding the impact of PPA and transaction and implementation costs. Syntel will be consolidated into the Group financial statements as of November 1, 2018.

Liferay Inc., which makes software that helps companies create digital experiences on web, mobile and connected devices, has acquired controlling interest in Triblio and committed to an ongoing strategic investment in growing Triblio’s Account-Based Marketing [ABM] business. The investment allows Liferay to explore opportunities for the DXP audience to further enhance and personalize the customer journey with account-specific content and messaging. In turn, Triblio will continue to focus on delivering long-term customer value and product innovation.

Bryan Cheung, CEO – Liferay said

Triblio represents the next generation of B2B marketing cloud and we are fully committed to investing in the platform and growing Triblio’s ABM business. Existing Liferay DXP customers will reap the benefits of this investment over time as we continue to help organizations build long-term relationships and deliver value to customers across their life-cycle.

Triblio will continue to operate as an independent entity led by CEO Andre Yee. Andre co-founded Triblio after serving as Senior Vice President of Product Development at marketing automation software provider Eloqua. Triblio is a leading ABM cloud provider with over 100 customers and triple digit annual year over year growth. The platform offers account-based advertising, web personalization, sales orchestration, account scoring and analytics, all powered by its unique AI-based purchase intent engine.

Andre Yee, CEO of Triblio, said

We are excited to receive Liferay’s investment. With their strategic commitment, we intend to extend our market reach and invest significantly in our customer success and product development teams.

Together, Liferay and Triblio are dedicated to bringing improved customer engagement and content targeting capabilities to enterprises. In addition, the two companies share a deep commitment to customer success and in giving back to the wider community.

About Liferay

Liferay makes software that helps companies create digital experiences on web, mobile and connected devices. Our platform is open source, which makes it more reliable, innovative and secure. Hundreds of organizations in financial services, healthcare, government, insurance, retail, manufacturing and multiple other industries use Liferay.

Singapore based Health Tech startup, Symple Wellness Platform [SWP] has acquired Pune-based AllizHealth, a wellness & health analytics platform for an undisclosed sum. AIH will be rebranded to ‘Vivant’, SWP’s operating brand.

Image Source – Vital

The acquisition dramatically speeds up Vivant’s expansion into the India market and brings with it a robust technology architecture, a strong operating team of almost 40 people across various functions, and close to 750,000 end customers. Three AIH Co-Founders will continue with Vivant – Chinmoy Mishra as Chief Business Development Officer, Dr. Rasmi Mishra as Chief Product Innovation Officer & Gaurav Vij as Chief Technology Officer.

The combined platform will provide a comprehensive digital health offering with over 6,500 partners with strengths across the care spectrum to empower individuals to engage with their health to get healthy, stay healthy or manage disease. The platform will also deliver solutions emphasizing maternal health, menstrual health, diabetes, orthopaedics, cardiovascular, child nutrition and elder care. Customers will also have access to Vivant’s Advisory Board, which includes internationally and nationally recognized experts across key fields that impact individual and community well-being.

Anupa Naik, CEO – Vivant, said

This acquisition brings with it an outstanding team and technology capabilities that will strengthen our ability to help customers engage with their health meaningfully and productively. This is a significant investment for us and reaffirms our commitment to the Indian market. We warmly welcome the AIH team to Vivant and look forward to working together.

Chinmoy Mishra, Co-Founder of AIH, said

We are delighted to join forces with the Vivant team and look forward to bringing our services to customers at scale. Vivant’s strong domain expertise and leadership team was a natural fit for AIH and we look to our shared future with great optimism.

About Symple Wellness Platform Private Limited

Symple Wellness Platform Private Limited is a Health Tech company based in Singapore. Through its operating brand ‘Vivant’, SWP delivers a digital healthcare platform that helps customers engage with their health across the care continuum, helping them get healthy, stay healthy or manage disease. The wide range of services include digital health records, health risk assessments, doctor consults, health check-ups, health coaches and condition management programs. For more information about Vivant, please visit Vivant

About AllizHealth

AllizHealth founded in 2013 by Chinmoy Mishra, Dr. Rasmi Mishra, Gaurav Vij and Dhairya Gupta, is a Pune based Health Tech venture. As a consumer focused ‘wellness & health analytics platform’ for early identification, tracking and management of health risks and conditions the platform enables users to store/access/share health information efficiently, track various health risks and parameters, store digitized health documents and connect with care givers. At the time of acquisition, the AllizHealth team of 40 people serves several clients from corporates & insurers to healthcare companies & retail customers with an overall end customer base of 750,000 lives.

Last year in March, Truecaller had announced its foray into the digital payments segment, incorporating UPI-based transfers in its app. Truecaller has announced a strategic investment into the payment space in India by acquiring Chillr, India’s first multi-bank payments app launched in 2014.

Image Source – Chillr

The founders of Chillr, Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran and the rest of the organization will be joining Truecaller, and Sony Joy will be the Vice President of Truecaller Pay. Chillr’s team of engineers and designers have a profound understanding of mobile payments, and a deep passion for products that they will now bring to Truecaller. The company plans to leverage its full reach of over 150 million users in India as well as its 300+ existing partnerships in India to enable Truecaller Pay as a platform.

Nami Zarringhalam, CSO – Truecaller

Nami Zarringhalam, Truecaller Co-founder & Chief Strategy Officer, said

Since launching Truecaller Pay in 2017, we have seen an increasing number of use cases to make the lives of our users in India easier. By acquiring Chillr, we are reaffirming our commitment to mobile payments and strengthening our plans to increase its adoption amongst our user base. We will, together, have a far bigger impact in this space through the foundation of the team’s expertise and a strong user base that trust our platform and use it on a daily basis.

Sony Joy, Co-founder & CEO – Chillr

Sony Joy, Co-founder, Chillr, said

After spending time with the founders and the Truecaller team, we have realized that we share a lot of synergies; values; culture; and a sharp focus on user experience. Our roadmap on payments and financial services which when combined with the scale and resources of Truecaller, can create amazing experiences and solve genuine problems at an accelerated pace.

About Truecaller

People use Truecaller to stay ahead. It helps them know who’s getting in touch, filter out unwanted calls and SMS, and focus on what really matters. The company provides a suite of unique services such as a dialer that offers caller ID, spam detection, messaging and more. Truecaller’s mission is to build trust everywhere by making communication safe and efficient. Headquartered in Stockholm, Sweden, the company was founded in 2009 by Alan Mamedi and Nami Zarringhalam. Investors include Sequoia Capital, Atomico and Kleiner Perkins Caufield Byers.

With the launch of Truecaller Pay 2.0, the company has brought banking and payments features to the forefront of its app, and in the coming months Truecaller is planning on rolling out credit and other financial services to users in Indiain a mobile-first way.

Swiggy, India’s largest food ordering and delivery platform announced that it has acqui-hired Bangalore-based gourmet Asian food startup 48East, founded by food industry veterans Joseph Cherian and Nabhojit Ghosh.

Both will join Swiggy’s New Supply business line. As COO of the New Supply business line, Cherian’s expertise in the food infrastructure space will further strengthen Swiggy’s focus on solving for gaps in consumer supply through various strategic initiatives. This includes the recently launched Swiggy Access, where the company brings a variety of food to consumers by enabling plug-and-play expansion for restaurant partners in different areas.

While the food landscape in the country rapidly expands, numerous areas and scenarios or use cases remain under-served. Over the years, Swiggy has been exploring innovative ways to address this by providing solutions for the availability, quality and convenience of food. With Cherian and Ghosh, the company will be able to take this a notch higher as it looks to serve consumers more efficiently and grow the market.

Talking about the acqui-hire, Sriharsha Majety, CEO, Swiggy said

With their deep understanding of the food space and an impressive track record of delivering a great consumer experience, the 48East team will equip Swiggy with additional capabilities. We are excited to work with them towards our vision of changing the way India eats.

MSD Telematics Private Limited, a Gurugram based telematics solutions firm, announced the acquisition of Heuristics Info Systems in an all cash deal. Sparrow Business Solutions LLP, a boutique corporate finance firm acted as the exclusive advisors to MSD and Heuristics on the transaction and TRA Law acted as the legal advisor on the deal.

Image Source – LinkedIn

Ashmeet Singh, founder of MSD Telematics commented

This investment will fuel our ability to deliver greater value to customers by enabling us to offer complete bouquet of services. We are excited to have the Heuristics team join us in this exciting journey. Together we look forward to grow multi-fold in the next few years. Heuristics gives us the ability to now service international clientele with innovative and robust software solutions.

With the tremendous growth in Transport Tech and Logistics Tech space, telematics as an industry will see fabulous growth in the years to come.

Siddharth, investor at MSD Telematics said

It is time we function as business intelligence partners for the customers, helping them drive operational efficiency while reducing costs and risk. Telematics companies need to create unique positioning products that help customers grow their business.  We need to educate customers about numerous applications of telematics and collaborate towards increasing penetration in the domain for a sustainable growth and benefit of all the stakeholders.

Heuristics, founded in 2008 by Amit Dubey and Pradeep Rai offers Vehicle Tracking System and Mobile Application software while providing unique cost effective quality solutions to various industry segments. Following the acquisition Amit Dubey, Founder Partner Heuristics Info Systems, would be joining MSD Telematics as a board advisor.

Commenting on the deal, Rohit Bhargava, partner at Sparrow Business Solutions LLP said

This is probably the start of consolidation in the industry. Few large players will emerge in the next few years to take leadership positions in the USD 120 Million telematics market in India.

About MSD Telematics

MSD was founded by two friends Ashmeet Singh and Siddharth in 2011. MSD focuses on telematics integration, GPS based tracking/remote asset management, mobility solution and all M2M solution based products. Company caters to various industrial verticals like logistics, transportation, schools, public distribution system etc. Telematics solution is offered under the brand name traQmatiX.

MSD serves corporate and government corporations by offering customized solutions on OPEX basis and on a turn-key basis. MSD counts HPCL, State Election Commissions, State Food Corporations and Excise Departments as some of its clients.

About Sparrow Business Solutions LLP

Gurugram, Delhi NCR, India based Sparrow Advisory was set up in late 2014. Sparrow Advisory serves clients in Thailand, Indonesia, Malaysia, Singapore and Sri Lanka across sectors including Auto Components, Water Treatment, Renewables, Consumer Goods, Vacation Rentals, Fitness Industry and Data Analytics.

GO-JEK, Indonesia’s largest start-up has acquired Pianta, a Bengaluru-based home healthcare services start-up for an undisclosed amount. This is the third Indian acquisition by the Indonesian unicorn following its previous buys in 2015:Bangalore-based C42 Engineering and Delhi-based CodeIgnition. The acquisition will help fast track the development of GO-JEK’s logistics and transportation platforms to support its fast-growing Indonesia operations.

As part of the acquisition, the newly acquired firm will be wholly integrated into GO-JEK’s India arm, GO-JEK Engineering India. Based in Bangalore, GO-JEK Engineering India focuses on product innovation, mining data and crafting consumer experiences for its parent company GO-JEK. The company is looking to double its existing India headcount of 70 employees in the coming months.

Nadiem Makarim, Founder and CEO of GO-JEK Indonesia said

At GO-JEK, we constantly seek to continue to push the boundaries of innovation. Pianta’s role will be very important to strengthen our technology excellence to bring the best services for customers. We believe this acquisition will advance our mission to become the largest on-demand application of choice for all Indonesians.

Run by SLX Logistics Pvt. Ltd., Pianta is a marketplace for home healthcare services that helps discover and book appointments with healthcare providers who provide home visits for physiotherapy, nursing and lab sample collection. The start-up had raised an undisclosed seed funding in May 2016 from Freecharge founders Kunal Shah and Sandeep Tandon.

Founded in 2015 by former Ola and Flipkart executives Swaminathan Seetharaman, Ganesh Subramanian and Nitin Agarwal, Pianta has over 250 home service providers listed on its platform. Seetharaman has worked with Ola as vice president of engineering while Subramanian was earlier principal architect at Ola. Agarwal was earlier a director of engineering at Ola.

The acquisition will see the three co-founders strengthen the core leadership team at GO-JEK Engineering India, led by Sidu Ponnappa, whose tech firm C42 Engineering was bought in 2015 by GO-JEK, as its Managing Director.

Swaminathan Seetharaman, CEO & Co-founder, Pianta said

GO-JEK provides us with a great opportunity to leverage the capabilities that we at Pianta have built in the domain of on-demand delivery and logistics. It presents us with a large canvas to create a much larger impact and to create it faster

Funded initially by the likes of Sequoia Capital and Yuri Milner’s DST Global, GO-JEK is currently the fastest growing start-up in South Asia and the largest in Indonesia in terms of valuation, funding raised and number of transactions. Having started as a bike-taxi business, the start-up has diversified into food delivery, one-hour courier delivery, grocery delivery and even has aggregated trucks on its platform. It has partnered with 200,000 motorcycle drivers and 5,000 trucks across Indonesia, all of whom, collectively cover an average distance of 4.5 million kilometres daily.

Last month, GO-JEK had secured more than $550 million in a new round of funding led by KKR and Warburg Pincus LLC, the largest ever for an Indonesian technology start-up. The start-up competes against the likes of Uber and Grab, two private car-hailing start-ups in Indonesia’s burgeoning ride-hailing industry.

With over 20 million app downloads, GO-JEK’s platform powers the Indonesian equivalents of Ola, Paytm, Swiggy, Grofers, Zomato, Dunzo and UrbanClap at a comparable scale. Its GO-FOOD business alone does more daily orders than all Indian food tech start-ups combined.

The company is actively looking for talent for key operations like data science, mobile, security and DevOps as it looks to shore up its technology operations in Bangalore and Singapore.

About GO-JEK Engineering India

GO-JEK Engineering India is the Bangalore-based product development centre of GO-JEK., Backed by Sequoia Capital India and DST Global, GO-JEK is one of the most watched start-ups in Southeast Asia having acquired two Indian technology companies – C42 Engineering and CodeIgnition in 2015. The GO-JEK Engineering India team comprises of developers, data scientists, designers and product managers who work on product innovation, mining data and crafting consumer experiences. The company takes pride in its world-class product engineering team who have a deep-rooted passion for working with the engineering community in India on topics such as innovation, education and Open Source. For more details about GO-JEK, please visit www.go-jek.com

Spinny, a Delhi based startup in the used car industry, has recently completed the merger of HopCar, another startup in the same industry. The merger will allow Spinny to strengthen its consumer products as well as the development of its technology while at the same time streamlining operations to achieve greater efficiency.

HopCar was established in August, 2015 to provide consumers with a one stop solution to buy and sell used cars. The online vertical focused on giving consumers value, trust, and convenience and targeted the information asymmetry of the used car market. In a similar vein, Spinny was established with the prime directive of improving the consumer experience and their interaction with the used car market. HopCar had been working to provide customers all the relevant information they required, whether they were buying or selling, so as to ensure information asymmetry didn’t take place at any point in the transaction.

Image Source - MySpinny
Image Source* – MySpinny

HopCar’s founding team includes Arijit Biswas, Rahul Thakur, Anish Karan and Rahul Anand and between them they are bringing a wealth of experience and innovation to Spinny.  The approach and the experience of the HopCar fit well with Spinny, which was the prime motive behind the merger.

On the occasion, CEO and Co-founder of Spinny, Niraj Singh said

The used car market is a very fragmented segment with many different players tackling the same issues in their own ways. HopCar was one such player who were working on very similar lines to our own at Spinny. The technology they were developing, their work philosophy, and their approach to the market made the merger with HopCar a natural choice. The merger brings immediate benefits for Spinny as it will allow Spinny to further strengthen its position in the Delhi-NCR region and bring greater efficiency to our operations in Bengaluru as well.

Adding to this, Co-founder of HopCar and now a core team member at Spinny, Arijit Biswas said

Our experience in the used car market has shown us that the issues in the market were too great to solve alone. However, finding a partner to tackle these issues wasn’t so straightforward either. Spinny’s vision synced naturally with our own and we look forward to working with Spinny and their team to deliver a satisfactory consumer experience.

Both companies were working on their own Price and Rating Engines. Through this merger, the engines will be combined, improving the accuracy and depth of the engines. This will help Spinny roll out fully featured and developed Algorithmic Engines that will help the consumer to understand the reasoning behind the pricing and certification provided by Spinny.

HopCar’s merger places Spinny in an advantageous position in the Delhi-NCR pre-owned car market. The company is currently streamlining its operations in Bangalore and looks to expand into Tier I and Tier II cities by the end of 2016. The introduction of the Price Engine and Rating Engine in the coming months will allow Spinny to better cater to consumer needs while at the same also further improve the overall consumer experience for people looking for a reliable, data-driven, and transparent platform to buy or sell pre-owned cars.