India Dealbook: Goldman Sachs sells more stake in Max Ventures; Japan’s Fidel Tech acquires LinguaNext

Goldman Sachs sells more stake in Max Ventures to the promoters, while  Japan’s Fidel Technologies KK has acquired tech startup LinguaNext.

Goldman Sachs sells more stake in Max Ventures

Analjit Singh and family have increased holding in Max Ventures and Industries Ltd by acquiring shares equalling 3.6 per cent stake.

Singh acquired the 1.9 million shares in Max Ventures in open market transactions between November 25 and November 29, through Siva Enterprises Pvt. Ltd, a promoter group entity, the company said in a disclosure to the stock exchanges.

According to stock data, on Wednesday in a block deal  Siva Enterprises bought 1.78 million shares from from Xenok Ltd, a wholly owned subsidiary of Goldman Sachs. The shares were sold at an average weighted price of Rs 50.5 a piece, amounting to a total of Rs 8.98 crore and 3.33 per cent stake.

In August, Xenok and Mauritius based GS Mace Holdings have together sold over 2.09 per cent stake in Max Ventures.

Xenok and GS Mace together held 13.45 per cent before selling the stake in Max Ventures. While Xenok held 8.88 per cent and GM Mace 4.57 per cent. After the stake sale, Xenok’s stake came down to 7.15 per cent and GC Mace over 4.19 per cent in the company.

Japan’s Fidel Technologies KK acquires tech startup LinguaNext

Japanese company Fidel Technologies KK has acquired Mumbai-based tech startup LinguaNext to expand its multilingual services and solutions portfolio.

The financial details of the deal were not disclosed.

After the acquisition, the company has been renamed ‘LinguaSol’, and the new entity will offer managed language services across Asia, the company said in a release. LinguaSol will offer its technology and Fidel’s translation services together to translate web and mobile applications, web portals, websites and enterprise products.

The company also plans to introduce software as a service (SaaS) model besides the traditional license model whereby customers will pay as they use resulting in a cost-effective way to localise and go to market.

Also Read:

India Dealbook: Analjit Singh’s open offer for Max Ventures, Future Market buys Naman Mall, Infibeam to invest in CCAvenue

India Digest: Blackstone REIT lisiting; Future Group eyes Heritage Foods; Goldman plans Max Fin stake sale

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.