<article>While IDBI has sold its stake in NEGIL, American Cybersystems has acquired Hyderabad-based GGK. Also, SFO Technologies had bought over ICAM Solution.</article>

While IDBI has sold its stake in NEGIL, American Cybersystems has acquired Hyderabad-based GGK. Also, SFO Technologies had bought over ICAM Solution.
<h3>IDBI sells its 30% stake in NEGIL</h3>
As part of its exercise to divest its non-core assets, public sector lender <a href="http://dealstreetasia.com/tag/idbi" target="_blank" rel="noopener">IDBI Bank </a>has sold its entire 30 per cent stake in NSDL e-Governance Infrastructure (NEGIL) to<a href="http://dealstreetasia.com/tag/iifl-wealth" target="_blank" rel="noopener"> IIFL Wealth Management</a> for around Rs 11 billion
The move follows IDBI&#8217;s announcement on 12 December, 2017 that the bank had got board approval to sell 12 million equity shares.
According to a Business Standard report, there were three bidders from which IIFL Wealth offered the highest price.
Last year, IDBI Bank’s board also approved sale of 1.5 per cent stake in National Stock Exchange (NSE).
<h3>American Cybersystems acquires Hyderabad-based GGK Tech</h3>
IT consulting and workforce management solutions major American Cybersystems (ACS) has acquired Hyderabad-based GGK Tech for $40 million, according to a Times of India <a href="https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/#" target="_blank" rel="noopener">report</a> quoting sources.
While the acquisition is mentioned on the websites of both the companies the details are not disclosed.
According to the news report, through the acquisition American Cybersystems will leverage GGK&#8217;s expertise in the healthcare space and expand its offshore delivery footprint in the country.
It will also tap into cross-selling opportunities from GGK’s customer base, especially in the healthcare vertical.
The two-decade old ACS employs more than 12,000 people globally and is globalising its business. Its Indian subsidiary ACS Global Tech has offices in Hyderabad, Noida and Kanpur.
<h3>SFO Technologies acquires ICAM Solution</h3>
Kerala-based <a href="http://dealstreetasia.com/tag/sfo" target="_blank" rel="noopener">SFO Technologies Pvt Ltd</a>, the flagship company of NeST Group has acquired ICAM Solution Pvt Ltd for an undisclosed amount.
&#8220;Along with this acquisition, SFO also acquired the entire Precision Machined Components businesses of Eastern Engineering Company Pvt Ltd, Bangalore catering to customers in healthcare, aerospace and defence, energy, oil &amp; gas and general engineering industries,&#8221; according to an official statement.
Bengaluru-based ICAM Solution specialises in High Level Assembly including Mechanical, Electro-Mechanical Assemblies for Healthcare, Fire and Security and Electronics General Engineering industries.
With this acquisition, SFO will enhance their versatility to add precision machining, mechanical assembly and mechanical box build to their expertise,&#8221; it said.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-dealbook-170-87302/" target="_blank" rel="noopener">IDBI to sell 1.5% stake in NSE</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/idbi-bank-offload-ccil-stake-78321/" target="_blank" rel="noopener">India: IDBI Bank steps up sale of non-core assets, looks to offload 5% in CCIL</a>

While IDBI has sold its stake in NEGIL, American Cybersystems has acquired Hyderabad-based GGK. Also, SFO Technologies had bought over ICAM Solution.

India Dealbook: IDBI exits NEGIL; ACS acquires GGK Tech; SFO Tech buys ICAM Solution

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India Dealbook: IDBI exits NEGIL; ACS acquires GGK Tech; SFO Tech buys ICAM Solution

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