India Dealbook: Cognizant acquires Zenith; Tech Mahindra buys Objectwise; RateGain in M&A

Photo: Reuters

In the M&A space, Cognizant has acquired Ireland-based Zenith Technologies while Tech Mahindra said it will acquire Canada-based Objectwise Consulting. In another deal, RateGain announced that it has acquired US-based BCV.

Cognizant acquires Zenith Tech

IT services major Cognizant on Tuesday announced that it has agreed to acquire Zenith Technologies, a privately-held life sciences manufacturing technology services company.

Ireland-based Zenith Technologies implements digital technologies to manage, control and optimise drug and medical device production.

As part of the deal, Zenith Technologies’ more than 800 people will become part of Cognizant’s Life Sciences business unit.

Tech Mahindra buys Objectwise

IT company Tech Mahindra on Monday said it will acquire Canada-based Objectwise Consulting Group Inc worth for about Rs14.33 crore.

Tech Mahindra said that Objectwise would bring with it strong capabilities in implementation and support of Pega software.

The transaction is expected to close by July 31, 2019.

Rategain acquires US-based BCV

TA Associates-backed Indian software-as-a-service company RateGain on Monday announced that it has acquired US-based BCV, a provider of technology-enabled social media solutions for the hospitality industry.

This acquisition will further help RateGain unlock revenue across hotel chains, airlines, car rentals, OTAs, cruise lines, package providers, TMCs, and vacation rentals, it said in a statement.

While the financial details of the transaction were not disclosed, an Economic Times report pegged the deal size in the range of $25-28.61 million.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.