<article>While Amber Enterprises has acquired a majority stake in Ever Electronics, Pulp Strategy founder has bought out her partner&#8217;s stake. Also, hedge fund Elliot Management has picked up a small stake in Wipro.</article>

While Amber Enterprises has acquired a majority stake in Ever Electronics, Pulp Strategy founder has bought out her partner&#8217;s stake. Also, hedge fund Elliot Management has picked up a small stake in Wipro.
<h3>Amber Enterprises to acquire 70% stake in Ever Electronics</h3>
Consumer durables manufacturer <a href="http://dealstreetasia.com/tag/amber" target="_blank" rel="noopener">Amber Enterprises</a> has agreed to acquire a 70 per cent stake in Pune-based Ever Electronics Pvt. Ltd for around Rs. 21 crore ($3.2 million).
According to a filing to the stock exchanges, Amber Enterprises will purchase shares of Ever Electronics at a price of Rs 54.799 apiece in a transaction that is scheduled to be completed by the end of June.
In its filing, Amber enterprises said the acquisition will help in &#8220;enhancing backward integration capabilities for the main line of the business of Amber and offering more comprehensive and integrated solutions to the customers.&#8221;
Ever Electronics makes components such as printed circuit boards for air-conditioners and home appliances.
<h3>Pulp Strategy founder buys out partner&#8217;s share</h3>
Media firm Pulp Strategy co-founder Ambika Sharma has bought out her partner&#8217;s 22 per cent stake in the digital communications and technology agency, taking full control of the company.
According to <a href="https://epaper.timesgroup.com/Olive/ODN/TheEconomicTimes/#" target="_blank" rel="noopener">a report</a> in The Economic Times, Sharma purchased the remaining equity stake from director and chief financial officer Raj Vikram Singh for an undisclosed amount.
“This decision to re-haul management has been taken with an aim to augment the growth trajectory of Pulp Strategy and to consolidate the agency’s market position,” Sharma told the newspaper.
The company, whose clientele includes Tupperware, Barco, Hero Electric, Proburst and Philips Avent, plans to increase its focus on content marketing and digital engagement.
<h3>Hedge fund Elliott Management picks up small stake in Wipro</h3>
US-based hedge fund Elliott Management has acquired a small stake in Indian technology giant <a href="http://dealstreetasia.com/tag/wipro" target="_blank" rel="noopener">Wipro</a>.
According to <a href="https://economictimes.indiatimes.com/tech/ites/investor-elliott-management-buys-tiny-stake-in-wipro/articleshow/63262909.cms" target="_blank" rel="noopener">a report</a> in The Economic Times, Elliott Management bought 1.85 million of Wipro’s American Depositary Receipts (ADRs) in the December quarter, equivalent to 0.04 per cent of its outstanding shares.
Eliott Management is credited with having changed Cognizant’s business strategy a couple of years ago. However, according to the news report, the hedge fund’s stake in Wipro is unlikely to be part of an activist strategy as was the case with Cognizant.
In 2016, the investment firm disclosed that it had around 4 per cent stake in Cognizant and asked it to begin paying dividends, institute buybacks and shake up its board. Cognizant complied with those requests, beginning a $3.4-billion capital return programme and replacing three members of the board.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-47-93507/" target="_blank" rel="noopener">India: Wipro picks up 33% stake in US-based Denim for $8.8m</a>

Consumer durables manufacturer Amber Enterprises has agreed to acquire a 70% stake in Pune-based Ever Electronics for around Rs 21 crore ($3.2 million).

India Dealbook: Amber Enterprises, Pulp Strategy and Wipro in M&A deals

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