<article>In the latest M&amp;A deals, Grasim Industries Ltd on Tuesday said it is fully acquiring Soktas India Pvt. Ltd while IT major Cognizant has acquired Irish company Meritsoft.</article>

In the latest M&amp;A deals, Grasim Industries Ltd on Tuesday said it is fully acquiring Soktas India Pvt. Ltd while IT major Cognizant has acquired Irish company Meritsoft.
<h3>Grasim fully acquires Soktas</h3>
<a href="https://www.dealstreetasia.com/?s=Grasim Industries Ltd" target="_blank" rel="noopener">Grasim Industries Ltd</a> on Tuesday said it has signed a definitive agreement to acquire 100 per cent equity shareholding of <a href="https://www.dealstreetasia.com/?s=Soktas India Pvt. Ltd (SIPL)" target="_blank" rel="noopener">Soktas India Pvt. Ltd (SIPL)</a> from its promoters for an enterprise value of Rs165 crore.
SIPL is a wholly owned subsidiary of SOKTAS Tekstil Sanayi ve Ticaret A.S., a producer and marketer of fabrics, with its main facilities in Soke, Turkey.
The transaction will be funded by the company primarily out of internal accruals, Grasim said in a BSE filing. SIPL will become a wholly owned subsidiary of Grasim upon completion of the transaction.
<h3>Cognizant buys Irish firm Meritsoft</h3>
IT major <a href="https://www.dealstreetasia.com/?s=Cognizant" target="_blank" rel="noopener">Cognizant</a> Tuesday said it has acquired <a href="https://www.dealstreetasia.com/?s=Meritsoft" target="_blank" rel="noopener">Meritsoft</a>, a privately-held financial software company based in Dublin, Ireland, per an announcement on Tuesday.
Financial details of the transaction were not disclosed.
Meritsoft is known for its FINBOS platform for post-trade processing, for managing taxes, fees, commissions, and cash flow functions between financial institutions. Synova and an affiliate of 22C Capital were the private equity investors in Meritsoft.
The company brings automation expertise in case management, regulatory compliance and payment and settlement of claims, among other services.
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SIPL is a wholly owned subsidiary of SOKTAS Tekstil Sanayi ve Ticaret A.S., a producer and marketer of fabrics, with its main facilities in Soke, Turkey.

India Dealbook: Grasim acquires Soktas; Cognizant buys Irish firm Meritsoft

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India Dealbook: Grasim acquires Soktas; Cognizant buys Irish firm Meritsoft

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