April 2023
Delhi-based Khoya, has raised a pre-seed funding round led by Ritu Dalmia’s Riga Foods, a portfolio company of Analjit Singh’s family office, along with participations from renowned high net-worth individuals. Langham Capital acted as the financial advisor to Khoya in this transaction.
Khoya develops and produces premium traditional mithai and luxury confectionery products and sells direct to customers. The company sells its products online and via network of stores at premium retail spaces and hotels. Khoya was launched in 2016 with the vision of making mithai exciting again, becoming India’s first luxury mithai brand. The Company uses only fresh and 100% natural ingredients, and each piece is carefully handcrafted, tastefully arranged and beautifully packed.
Khoya, whose clients include Karan Johar, Louis Vuitton, Cartier, Good Earth & Lexus, plans to use the proceeds from this round for development of new products as well as expansion into new categories of related consumer products. Further it will expand its retail presence in other metro cities across India and foray into international markets.
Founder Sid Mathur says “Khoya was a passion project, and we took our time to build it. We dived deep into the history, travelled, searched for ingredients, worked hard on recipe development, and spent months on packaging. The product spoke for itself, and Khoya has grown organically through only reinvestment of profits. The organised Indian sweets & premium gifting market is growing rapidly and expected to cross INR 15,000 Crore by 2028.** With this capital raise, we will be able to take the brand to a new level, expanding our kitchens, teams & distribution both in India as well as Internationally.”
About Langham Capital’s role in the transaction, Sid said "Langham Capital were brilliant during our first raise. They showed great clarity throughout the transaction and were always reassuringly at hand for any precarious situations."
Celebrity chef and co-founder of Riga Foods, Ritu Dalmia says “For me, Khoya has always been the benchmark of luxury mithai, and we are thrilled to be part of their journey. What I love most is the discipline & attention to detail they have managed to show over the years, and with obvious synergies of catering, kitchens & restaurants, we have a head start on this relationship, and can’t wait to see it grow”
The company has grown at 50% CAGR over the past three years which should accelerate to 150% growth post this fund raise.
**International Market Analysis Research and Consulting Group (IMARC Group)
CloseMarch 2023
Langham Capital is pleased to announce its latest corporate finance advisory transaction whereby EazyDiner has raised INR 40 crores from DMI Alternative Investment Fund – The Sparkle Fund, a venture investment arm of DMI Alternatives. Langham Capital acted as the financial advisor to EazyDiner in this transaction.
Founded and led by Kapil Chopra along with a team of experienced restauranteurs and hoteliers, EazyDiner currently operates in over 30 cities across India and the UAE, offering a technology platform for restaurant table reservations, food discovery, and payments. EazyDiner is a leader in eating out in India. EazyDiner can be accessed and used at over 12000 restaurants in India and UAE and has also partnered with 15 leading banks including Axis Bank, ICICI bank and Kotak Mahindra Bank, thereby saving customers close to 40% to 50% instantly on every meal.
EazyDiner is amongst the few consumer internet companies in India which is profitable. With over 3 million users, EazyDiner seats more customers in restaurants than any other app and has grown 5X in terms of diners and over 18X in terms of payments of restaurant bills on the app in 2022. EazyDiner is backed by leading investors – DSG Consumer Partners, Saama Capital, Beenext, and Denlow Investment Trust.
EazyDiner plans to use the new funds to expand its business from 30 to 100 cities and to develop new products. The funds will also be used to extend the Company’s payments products to the Middle East as it is an important market for the company.
Upon completion of the transaction, Kapil Chopra said “We are thrilled to have partnered with The Sparkle Fund which shares the same vision as we do in developing the ecosystem with a financial technology mindset, making eating out more attractive. This round will enable us to accelerate our growth and expand our reach across India and the Middle East. We are grateful to all our existing investors for their continued support and belief- even during the turbulent challenges posed by Covid-19. With the latest funding round, EazyDiner is well-positioned to grow exponentially and add new features to make it even more rewarding for consumers and restaurant partners to encourage eating out at great restaurants.”
Shivashish Chatterjee, Co-Founder of DMI Finance commented “We are excited to partner with the EazyDiner team as they scale their business pan India and internationally. The Sparkle Fund is always on the lookout for companies that have a vision to innovate in the financial services ecosystem and with EazyDiner, the future of eating out looks promising.”
CloseJanuary 2021
Langham Capital is pleased to announce its latest corporate finance advisory transaction whereby AVANT Corporation of Japan has formed a capital and business alliance with British software company, Metapraxis. Langham Capital acted as the financial advisor to AVANT Corporation in this transaction.
Business and Capital Alliance:
1. Business Alliance: Under the agreement between AVANT Corporation and Metapraxis, the Avant Group collectively with Metapraxis will work on the development of the Japanese version of "Empower", the Metapraxis business intelligence technology, which specialises in assisting in planning, analysis, and visualising a company’s financial performance, thereby promoting Digital Transformation. Empower has been developed by Metapraxis and is marketed in the European and U.S. markets, and Avant will acquire an exclusive right to market the solution in Japan.
2. Capital Alliance: On the premise of a business alliance, AVANT Corporation has subscribed to a preferred shares issued by Metapraxis, making AVANT the second-largest shareholder of Metapraxis.
Comments by Tetsuji Morikawa, President, and CEO, AVANT Corporation: “The main product of Metapraxis, Empower, is a powerful platform for planning, analysis and visualising performance within group companies and commands a strong blue-chip client base in the European and U.S. markets. Metapraxis is an organisation with innovation and teamwork at its heart, helping to realise its commitment to providing the best solutions to its customers, which are shared values with the Avant Group. These shared values have led to productive negotiations as an alliance partner. Converting Empower into Japanese and providing it to the Japanese market is an important part of realising the Avant Group's mission of "Spreading Accountability." With this collaboration, Avant Group will expand its growth in the Japanese market and take a significant step toward expanding into overseas markets.”
Comments by Simon Bittlestone, CEO, Metapraxis: “Avantʼs investment in Metapraxis will help us accelerate our strategy, expanding our go-to-market activities, our product suite and cloud platform. The opportunity to enter the Japanese market will further our ambition of becoming the global financial analytics provider of choice. Avantʼs finance consolidation technology is highly complementary to Metapraxis Empower, our own analytics platform, and together we can offer finance teams a complete digital solution, driving automation and improvement.”
About AVANT Corporation:
The Avant Group's mission, headed by the holding company AVANT Corporation (Head Office: Minato-ku, Tokyo; President and Group CEO: Tetsuji Morikawa; Securities Code: 3836), is "Spreading Accountability." The Group is developing its consolidated accounting, business intelligence, and CFO outsourcing businesses with CFOs and CIOs as its primary focus. Through these efforts, the Group helps create value for customers by transforming management information into a map for the future, supporting better decision-making. Established as DIVA Corporation in May 1997, it changed its name to AVANT Corporation when it transitioned to a holding company in October 2013, having gone public in February 2007. AVANT was listed on the First Section of the Tokyo Stock Exchange in March 2018.
About Metapraxis:
Metapraxis is a leading financial analytics technology business, based in London and with offices in Europe and the United States. Metapraxis Empower helps finance teams to plan, model, analyse and report on one unified platform, accelerating digital transformation. Empower is increasingly the choice of blue chip companies, globally.
October 2020
Wipro Limited, a leading global information technology, consulting and business process Services Company, has signed a definitive agreement to acquire Eximius Design, a leading engineering services company with strong expertise in semiconductor, software and systems design.
Eximius provides end-to-end solutions and services for building smarter, smaller and faster connected products for various use cases of IoT, Industry 4.0, Edge Computing, Cloud, 5G and Artificial Intelligence. Their expertise spans across SOC (System on Chip), IP, ASIC (Application Specific Integrated Circuit), FPGA (Field Programmable Gate Array), Hardware System and Software domains. Founded in August 2013 and headquartered in San Jose, California, USA, Eximius has design centers in the US, India and Malaysia. Their clientele includes some of the Fortune 100 corporations and new age companies across semiconductors, cloud and hyperscale infrastructure, consumer electronics and automotive segments.
Eximius’ offerings and solutions will be consolidated as a part of Wipro’s EngineeringNXT framework, providing customers with a platform to innovate and engineer the next generation of products and platforms at scale.
“Eximius enables Wipro to strengthen market leadership in VLSI and systems design services by expanding our market presence and strengthening our technical leadership in the semiconductor ecosystem, to help accelerate silicon innovation for our customers. We are pleased to welcome Eximius’ employees and look forward to help our customers innovate at scale and deliver next generation connected products, faster,” said Harmeet Chauhan, Senior Vice President, Industrial & Engineering Services, Wipro Limited.
“Our customers, employees and the entire semiconductor ecosystem will tremendously benefit from the synergies of Eximius and Wipro’s combined portfolio of offerings. Clients will gain access to Wipro’s global scale and offerings, along with Eximius’ innovative solutions to accelerate the adoption of ASIC, FPGA, systems and software engineering initiatives. We are pleased to become a part of the Wipro family,” said Jay Avula, CEO, Eximius Design.
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending December 31, 2020.
CloseJune 2019
We are pleased to announce our latest transaction. ALTEN Calsoft Labs, a leading Engineering R&D services and Enterprise Digital Transformation solutions company, has acquired Wafer Space, a leading provider of semiconductor design and embedded software services. Langham Capital was the exclusive strategic and financial advisor to Wafer Space on this transaction. This is Langham Capital’s third transaction in the semiconductor and embedded design services segment.
This acquisition will significantly enhance ALTEN Calsoft Labs capabilities and footprint in VLSI and Product Engineering services. Wafer Space will add 300+ engineers to the growing VLSI practice at ALTEN Calsoft Labs. The acquisition adds specific expertise in terms of turnkey System on a Chip (SOC) design by adding capabilities of RTL Design and Verification, Physical Design and DFT, Post Silicon Validation, Turnkey SOC Execution from RTL to GDSII and Custom Verification IP Development. Wafer Space also brings in domain expertise and ready to deploy solutions for Semiconductor, Automotive, IOT and Industrial Control domains.
Upon completion of the transaction, Gérald Attia, Deputy CEO of ALTEN Group said "This reinforces ALTEN Calsoft Labs's continued commitment to grow as a premium solutions provider and market leader in Semiconductor design services segment. Wafer Space has built a strong reputation as a high-quality VLSI design services company and is working with top Semiconductor companies. Now, being part of larger ALTEN Group, Wafer Space expertise in VLSI and Embedded Design will be available to our customers in Automotive and Aerospace segments."
Ramandeep Singh, CEO of ALTEN Calsoft Labs said "Aligning with Wafer Space demonstrates our strategy to build a strong VLSI practice and to provide top talent and semiconductor design solutions for our customers. Wafer Space is one of the few companies with the expertise to be able to tapeout a complete SOC and provide high end services and true value to its customers with its engineering capability."
Rahul Malvi, Founder & CEO of Wafer Space said "We are very excited to become a part of ALTEN Aloft Labs. We believe that the timing was right for Wafer Space to join forces with a larger company with a robust brand following and reach into multiple markets. ALTEN Calsoft Labs has a strong focus in Semiconductor and Embedded Product design which aligns very well with Wafer Space. We believe it will be a complimentary and a mutually beneficial association."
CloseNovember 2019
We are pleased to announce our latest transaction. Langham Capital advised Furtados School of Music (FSM), a leading music education company on its latest round of investment from IAN Fund and DSG Consumer Partners. Langham Capital acted as exclusive financial advisor to FSM on this transaction. The company will use the funds to expand its presence across major cities in India and scale up its technology infrastructure including app services with the aim of making quality music education accessible to children and individuals across the country.
Incorporated in 2014 by Tanuja Gomes and Dharini Upadhyaya, FSM Education Pvt. Ltd. promotes quality music education with its omnichannel distribution model. Currently, FSM has a reach of about 200 schools with over 15 centres across 14 cities in the country. FSM targets pre-schools and K12 schools with its various music programmes, provides school learning at centres, and enables home tuitions through its mobile app, High. The company draws its legacy from 154-year-old musical instrument retail chain Furtados, which is one of the largest retailers of musical instruments in the country.
Tanuja Gomes, Co-CEO and Co-Founder of FSM said “We began FSM with the aim to make quality music education accessible to every individual - young and old. Since inception, we have meticulously built our proposition to scale, today we are imparting music to over 60,000 students, across 14 cities which include Tier I, II, and III. We are now looking to expand our business and reach a student base of over 5,00,000. We are also looking at enhancing our offering, with a slew of initiatives in the pipeline, which will drive our next phase of growth, over the next decade.” Adding to this, Dharini Upadhyaya, Co-CEO and Co-founder of FSM, said “The company aspires to inculcate music as an integral part of school learning, like any other subject. For this, the company is looking forward to leverage cutting edge technology to offer superior customer experience and quality music education in the country”.
Padmaja Ruparel, Founding Partner, IAN Fund said “With increasing aspirations of Indian’s, music education is definitely on the rise. FSM does cater to this aspirational and growing customer providing quality music education and we are extremely excited with Tanuja and Dharini’s ambitious plans for FSM.”
CloseApril 2018
Langham Capital advised Cyient Limited, a global provider of engineering, manufacturing, geospatial, networks, and operations management services, which through its step down subsidiary Cyient Europe Ltd. has acquired AnSem N.V., a leading fabless, custom analog and mixed-signal application-specific integrated circuits (ASICs) design company. AnSem specializes in advanced analog, radio frequency, and mixed-signal integrated circuit design and provides custom ASICs for clients around the world across key industries, including automotive, medical, industrial, smart home, and smart grid, with long-life applications of five to ten years.
According to Suman Narayan, Senior Vice President for Semiconductor, IoT, and Analytics at Cyient, "AnSem's leading-edge, custom mixed-signal analog integrated circuit (IC) capability allows Cyient to offer turnkey ICs, starting from concept circuit to final production. Through this acquisition, Cyient can help its clients develop smart analog sensors to capture data, while leveraging our IoT and analytics solutions to provide actionable insights."
Langham Capital acted as exclusive financial advisor to Cyient on the transaction.
Samir Desai, Vice President & Head of M&A, Investor relations and Cop. Venturing at ?Cyient commented "Langham Capital was extremely supportive in originating this transaction and their industry expertise and proactive thinking process helped us progress the transaction smoothly and close on schedule"
About Cyient
Cyient (NSE: CYIENT) provides engineering, manufacturing, geospatial, networks, and operations management services to global industry leaders. Cyient leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems. As a Design, Build, and Maintain partner, Cyient takes solution ownership across the value chain to help clients focus on their core, innovate, and stay ahead of the curve. With over 15,000 employees in 21 countries, Cyient partners with clients to operate as part of their extended team, in ways that best suit their organization's culture and requirements. Cyient's industry focus includes aerospace and defense, medical, telecommunications, rail transportation, semiconductor, utilities, industrial, energy and natural resources.
About AnSem
AnSem is Europe's leading fabless analog ASIC design service company, designing and delivering state-of-the-art analog, RF, and mixed-signal integrated circuits to customers worldwide. Founded in 1998 and based in Leuven, Belgium, AnSem specializes in the development of advanced integrated circuits for wired and wireless data transmission, sensor data acquisition, ultra-low power and high-voltage applications. AnSem is ISO 9001 certified and is a proven and solid development partner for ambitious and visionary customers, reaching for leadership in global markets.
November 2016
We are pleased to announce close of our latest mandate and our second Indo-Japanese transaction. Langham Capital advised Avant Corporation, Japan's leading provider of consolidated accounting software and services, on a multi-year strategic partnership with a leading India-based software product development services company. The transaction marks Avant Corporation's entry into India for continuous development and enhancement of its solutions. The strategic partnership will provide Avant Corporation and its business entities a robust platform to migrate its solutions to Cloud, expand domain focus and add new functionalities to the solutions portfolio, and strengthen services capability in India to support clients in Japan and in their worldwide operations.
Tetsuji Morikawa, President and CEO of Avant Corporation, said "Langham Capital was thorough, professional and instrumental in helping AVANT find the right strategic development partner. We are very pleased with the results and look forward to working with Langham again as our needs dictate".
Langham Capital acted as the exclusive corporate finance advisor to Avant Corporation.
About Avant Corporation
Founded in 1997 as Diva Corporation, Avant Corporation is a provider of consolidated accounting software and services in Japan. Avant Corporation, the holding company, has three group entities - Diva Corporation, Zeal Corporation and Internet Disclosure Limited. Diva Corporation is leading developer and provider of Consolidated Accounting Packaged solutions and related consulting services in Japan. Zeal Corporation is a provider of Business Intelligence and big-data related solutions. Disclosure Internet Limited provides corporate disclosure document retrieval services. Avant Corporation has a long-term proven track record of providing superior solutions for its 800+ customers, and it counts 52 of the Top 100 companies by Market Capitalization in Japan amongst its customers. Avant Corporation is listed on the Tokyo JASDAQ (Securities code: 3836) and for financial year ended June 2016, reported Net Sales of US$ 93.4 million and Net Profit of US$ 6.4 million. For more information on Avant Corporation, please visit www.avantcorp.com.
CloseAugust 2016
We are pleased to announce our latest transaction. Langham Capital advised Shri J.P. Taparia Family on an equity investment in Guardian Nutrition and Healthcare Pvt. Ltd. Langham Capital acted as a Corporate Finance advisor to the Taparia Family who has acquired a majority stake in the pharmacy chain. The investment will be used to enhance the national presence and further strengthen the online and nutraceuticals business.
Langham Capital provided transaction advisory services which included developing the investment thesis and collaterals and advising on valuation of the transaction.
Founded by Ashutosh Garg in 2003, the company offers a comprehensive range of products including drugs, nutritional supplements, herbs and natural remedies, beauty care and weight management products from national & international brands. Guardian also offers a wide range of private label products in categories such as vitamins, sports nutrition, ayurveda, body support, personal care and baby care. The company had earlier raised funding from Samara Capital and Mitsui Corporation.
The Taparia Family, who sold contraceptive maker Famy Care to drug maker Mylan for $750 million last year, is among one of India's highest individual tax payers.
CloseJuly 2015
We are pleased to announce our latest transaction. Langham Capital advised the Avantha Group, a diversified $4 billion Indian business conglomerate, on the sale of its ownership interest in Avantha Business Solutions Inc and its wholly owned subsidiary Pyramid Healthcare Solutions Inc. to Anthelio Healthcare Solutions Inc., USA.
Pyramid Healthcare Solutions Inc USA is leading provider of services primarily to hospitals and other healthcare providers throughout the US. Services provided by PHS include revenue cycle management, accounts receivable management, health information management services / medical records solutions, full outsourcing and coding audit and support solutions.
Manoj Malhotra, Chairman of Pyramid Healthcare Solutions said "We engaged Langham Capital due to their understanding of the US healthcare domain, cross border experience and the knowledge of its senior bankers and team."
Anthelio Healthcare Solutions Inc., headquartered in Dallas, Texas and backed by Actis, a leading private equity fund with assets under management in excess of $6 billion, is the largest independent provider of healthcare IT services, health information management, EHR, and analytics solutions to healthcare organizations in the US. Servicing more than 100 healthcare organizations, 20,000 physicians and nurses and 6,000,000 patients per year, Anthelio's mission is to improve patient care, patient satisfaction and clinical compliance by delivering comprehensive and discrete offerings to it's customers within a cost effective global delivery model.
CloseJune 2015
We are pleased to announce our latest transaction. Langham Capital advised Burman Family Office on the formation of a franchise partnership with YUM Brands for Taco Bell in North and East India. YUM Brands! Is a Fortune 500 Corporation which operates in over 125 countries with revenues of USD 13.3 billion for the year ended December 2014.
Langham Capital acted as exclusive financial advisor to Burman Family Office, the independent investment arm of the Burman family who are the controlling shareholders of the Dabur Group, a leading FMCG Company in India.
Commenting on Langham Capital's role in the transaction, Gaurav Burman said: "Langham Capital is a trusted advisor for us, providing access to high quality transaction ideas and excellent transaction support over the years. They have an excellent understanding of the consumer market and have assisted us in evaluating multiple transaction opportunities including our investment in Experian India last year. We look forward to working more with the Langham Capital team in the future."
Langham Capital provided comprehensive advisory services which included introducing the two companies for an exclusive transaction discussion, developing the investment thesis and subsequently assisting in due diligence and transaction closure.
Taco Bell has more than 6,500 restaurants worldwide and is a subsidiary of Fortune 500 Corporation YUM! Brands which operates brands Taco Bell, KFC and Pizza Hut worldwide. It is the world's largest fast food restaurant company in terms of outlets with more than 40,000 restaurants around the world in over 125 countries.
The Burman Family Office manages the Burman family's investment in diversified asset classes including public equity, private investments, joint ventures, and real estate; in a range of industries including financial services, insurance, healthcare, media, and hospitality. The Burman Family Office has invested USD 1 billion over the last 20 years in over 20 joint ventures, investments, and special situations.
CloseMay 2015
We are pleased to announce our latest transaction. Langham Capital advised Veeba Food Services, a leading supplier of sauces, emulsions and related products on a Series C round of funding led by Saama Capital and DSG Consumer Partners. Existing investor Yukti Securities also made additional investment in this round. Langham Capital acted as exclusive financial advisor to Veeba Food Services on this transaction.
The investment will be used to enhance the company's production capacity in Neemrana and to enter the retail market.
Langham Capital provided comprehensive transaction advisory services beginning with developing the investment thesis, preparing a business plan, identifying and marketing to all potential investors. Subsequently, Langham Capital prepared the company for a detailed due diligence by the Investor, helped in transaction negotiations and played a key role in successful closure of the transaction.
Viraj Bahl, Founder and Managing Director of Veeba Food Services said, "This is the start of a very exciting growth phase for Veeba as we plan to expand our business aggressively in the coming years. Langham Capital has been an excellent partner in this fund raise. Their team has been instrumental in every step of the process and have contributed to the successful completion of the transaction".
Founded in 2012, Veeba Food Services manufactures and supplies food ingredients including sauces, dips, emulsions, salad dressings & dessert toppings to QSR, hotel, restaurant and catering clients. Its customer base includes global brands such as KFC, Pizza Hut, Burger King, Taco Bell besides other QSR, hotel and restaurant chains across the country. The company has recently launched a range of 14 sauces and salad dressings to enter the retail market.
Saama Capital is an India focused early and growth stage venture capital fund and the independent successor fund to SVB India Capital Partners. It has backed a diverse set of companies including Snapdeal, PayTM, Tutorvista, Chaipoint, iYogi, Prizm Payments, Bluestone, Naaptol, Applabs, Shaadi.com , SKS Microfinance, Vistaar Finance, Hotelogix and Games2Win among others.
DSG Consumer partners is an investment company founded by Deepak Shahdadpuri focussed on identifying, selecting and investing in consumer businesses primarily in India. DSG Consumer partners has also invested in other food companies like Bakers Circle, Exito Gourmet, Tierra Foods, Saraf Foods and Indian Home Gourmet amongst others.
CloseMarch 2015
We are pleased to announce our latest transaction. Langham Capital advised Printland Digital India Pvt. Ltd., India's leading online web to print company on an equity investment from SIDBI Venture Capital. Langham Capital acted as exclusive financial advisor to Printland on this transaction.
Langham Capital provided comprehensive transaction advisory services beginning with developing the investment thesis, preparing a detailed business plan, identifying and marketing to investors in India and abroad. Subsequently, Langham Capital prepared the company for a detailed due diligence by the Investor, represented and led the transaction negotiations on behalf of the shareholders, advised on the final deal structure and played a key role in successful closure of the transaction.
Sandeep Behl, Founder and CEO of Printland said "This capital raise is a critical step in the growth of Printland and we are delighted with the outcome. Proceeds from the investment will be utilised towards the growth of the business for better customer experience through investment in technology, launch of new products and acquisition of new clients.Langham Capital has been an excellent investment banking partner in this fund raise and the team have played a key role at every step of the process and contributed to successful closure of the transaction."
Printland has an integrated in-house design, production setup with automated ordering, printing and delivery process. It has a business model which uses proprietary online technology and digital & offset printing capabilities to provide a complete solution for all printing requirements. Its offerings include business printing, corporate merchandise, corporate gifts, personalised gifts, etc.
CloseFebruary 2015
We are pleased to announce our latest transaction. Langham Capital advised Bakers Circle, India's leading producer and supplier of frozen bakery and confectionery products on an equity investment from Gaja Capital for a minority stake. Langham Capital acted as exclusive financial advisor to Bakers Circle on this transaction.
Proceeds from the investment will be utilised towards enhancing the company's production capacity in India and setting up a frozen dough facility in Dubai.
Dev Lall, Founder and Managing Director of Bakers Circle said "This capital raise is a critical step in the growth of Bakers Circle and we are delighted with the outcome. Langham Capital has been an excellent investment banking partner in this fund raise. The Langham Capital team have played a key role at every step of the process and contributed to completion of the transaction in quick time"
Headquartered in New Delhi, Bakers Circle makes dough, baguettes, puffs, buns, croissants and confectionery products like cakes, brownies, cookies amongst others. It supplies to all major QSR chains in the country.
Gaja Capital is a mid-market focused private equity firm. It was founded in 2004 by indigenous professionals with extensive operating and investing experience. With a network of some of India's most successful entrepreneurs, Gaja has leveraged its deep local connect to partner with emerging businesses focused on India's domestic market.
CloseApril 2014
We are pleased to announce our latest transaction. Langham Capital advised the Burman Family Office on an equity investment in Experian Credit Information Company of India Pvt. Ltd. (ECICI), an affiliate of Experian plc Ltd which operates in 39 countries with revenues of USD 4.8 billion for the year ended March 31, 2014.
Langham Capital acted as exclusive financial advisor to Burman Family Office, the independent investment arm of the Burman family who are the control shareholders of the Dabur Group, a leading FMCG Company in India.
Commenting on the transaction, Gaurav Burman said: "We have a long standing relationship with Langham Capital and were impressed with the quality of their advice throughout the transaction process."
Langham Capital provided comprehensive transaction advisory services which included developing the investment thesis and subsequently assisting in due diligence, and led the transaction negotiations on behalf of the investor.
ECICI is a leading player in the India Credit Bureau market. ECICI is an affiliate of Experian Plc Limited, a global leader in providing information, analytical tools and marketing services to organizations and consumers. It is engaged in the business of providing credit information services to banks, non banking financial companies and other specified users. It is a pioneer in introducing value added products and services to help clients manage the risk and reward of commercial and financial decisions.
The Burman Family Office manages the Burman family's investment in diversified asset classes including real estate, public equity and private investments in a range of industries including financial services, insurance and healthcare. The investment in ECICI further diversifies the family's portfolio of investments in the finance sector.
CloseMarch 2014
We are pleased to announce our latest transaction. Langham Capital advised the shareholders of Ritu Kumar, one of India's leading fashion houses, on an equity investment of INR 100 crore from Everstone Capital. Langham Capital acted as exclusive financial advisors to Ritu Kumar on this transaction.
Langham Capital provided comprehensive transaction advisory services beginning with developing the investment thesis, preparing a business plan, identifying and marketing to investors in India and abroad. Subsequently, Langham Capital prepared the company for a detailed due diligence by the Investor, represented and led the transaction negotiations on behalf of the shareholders, advised on the final deal structure and played a key role in successful closure of the transaction.
Commenting on Langham's role in the transaction, Amrish Kumar, CEO and Director of the Company said "Shiv Dayal and his team at Langham Capital did an outstanding job through the entire transaction process and were instrumental in ensuring the success of this transaction."
For over four decades, the Ritu Kumar brand has symbolized premium Indian fashion. The brand has been showcasing India's heritage, deeply rooted within the Indian craftsmanship and has attracted global admiration. Known for its innovative association with the craft sectors of India, the Company has done path breaking work in reviving Indian textiles. Ritu Kumar has three distinct brand offerings that position the Company as the leading �bridge to luxury' brand in India. These include; Ri, a premium bridal and formal wear line, Ritu Kumar, a traditional pret brand offering ethnic every day and semiformal wear, and Label, a fashion pret line.
Headquarted in Singapore, The Everstone Group is a premier India and South East Asia focused private equity and real estate investor. Everstone was awarded the Private Equity Firm of the Year in India by Private Equity International for three consecutive years (2011, 2012 and 2013). Some of Everstone's recent investments include F&B Asia (Burger King India), IndoStar Capital, S Chand and Hinduja Leyland Finance.
Close30th March 2012
We are pleased to announce our first Indo-Japanese transaction. Langham Capital advised the shareholders of KCT Trading Private Limited, a wholesale paper trading Company, on a 49% sale of the outstanding equity to Japan Pulp and Paper Company Limited (JPP), a USD 6 billion paper and related products company with a presence in over 28 countries. Langham Capital acted as exclusive financial advisors to KCT Trading on this transaction.
JPP has made the investment as part of the Company's efforts to further expand its global business activities. This share acquisition will enable the JPP Group to strengthen its sales network in the growing Indian paper market.
JPP is striving to expand its activities in relation to its overseas, resource and environment-related businesses. In terms of its overseas activities, JPP is continuing to expand its global sourcing and sales network with business developments being made in a variety of areas including the wholesale supply of paper and paperboard, the manufacture of corrugated containerboard, the sale of raw materials used in the making of paper and the manufacture and sale of household paper products.
Headquartered in Kolkata, KCT controls a nationwide sales network with offices in major cities across India including Mumbai, Delhi and Chennai. The sale of a significant minority stake to an international paper trading Company will provide KCT more cost effective and broad based sourcing opportunities, as well as the impetus to continue its growth in the Indian market. This transaction represents the first of its kind in the Indian paper trading industry.
CloseMarch 2012
We are pleased to announce close of our latest mandate. Langham Capital advised Avantha Group, one of India's largest conglomerates, on a multi-year strategic IT partnership with Wipro. As a part of the agreement, Wipro will partner with Avantha Technologies Limited (ATL) to provide various IT services including infrastructure management and ERP services to Avantha Group companies in India and abroad.
The strategic relationship with Wipro will provide Avantha Group companies a unified technology services platform to enable growth and efficiency across all group company locations by introducing Wipro's expertise in managing complex, multi-location systems across different industry verticals.
About Avantha Group
The US$ 4 bnAvantha Group is one of India's leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries,Biltech Building Elements, Salient Business Solutions, and Avantha Technologies. With an impressive global footprint, Avantha operates in over ten countries,employing 20,000 people worldwide. The Group has businessinterests in diverse areas including power transmission and distribution equipment and services, paper and pulp,energy and infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by GautamThapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. For more information on Avantha group, please visit www.avanthagroup.com.
About Wipro Limited
Wipro provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. For more information on Wipro Limited, please visit www.wipro.com.
CloseOctober 2011
We are pleased to announce our latest transaction. Langham Capital advised Svenska Design Hotels, a chain of luxury boutique hotels, on a INR 300 million mezzanine capital raise from DMI Finance. Langham Capital acted as the exclusive financial advisor to Svenska Design Hotels on this transaction.
Commenting on the transaction, Mr Zia Shiekh, CEO of Svenska Design Hotels said "This transaction with DMI facilitated by Langham Capital is the start of a very exciting growth phase for Svenska in India as we plan to expand our business aggressively in the coming years in the country. We are delighted to have found excellent partners in DMI and Langham Capital, with ability to design and execute innovative financing solutions to meet our unique requirements as we set out to create a whole new segment within the Indian hospitality landscape of top-end luxury hotels in small-format with a heavy component of F&B targeting both resident guests as well as locals looking for a lifestyle destination offering the best of cuisines, along with fashion, art, music and design".
Based on European design concepts combined with highly personalized Asian hospitality, Svenska is focused on developing and managing chic and trendy small-format (30-100 rooms) upscale hotels that offer luxury beyond 5-star.
Svenska currently operates two hotels in India - in Mumbai and Bangalore - with forthcoming hotels planned various in tier 1, 2 and 3 Indian cities, including New Delhi, Calcutta, Kakinada and Bhilwara. The Group also owns, manages and franchises various food & beverage concepts, including Miro (Mediterranean specialty), Soul (contemporary Indian restaurants), Mesa (multi-cuisine all-day-dining bistros, delis and lounge bars) and Sensen (al-fresco pan-Asian/ Japanese bars & grills).
Svenska has a very strong and experienced management team, with background in leading luxury hotels across both leisure and corporate segments. The Svenska team brings global best-practices to India in terms of people management, processes, systems and technology.
DMI Finance Private Limited is a leading non-bank lender in India. Started in 2008 by Shivashish Chatterjee and Yuvraja C. Singh, its Joint Managing Directors, DMI has rapidly become the non-bank lender of choice for an extensive list of corporate clients. Its footprint currently spans the NCR, Mumbai and Bangalore. DMI's management brings decades of debt capital markets experience at leading global Investment Banks to India along with an expertise in structured finance solutions that is critical to the successful culmination of transactions such as this one.
CloseJune 2011
We are pleased to announce our latest transaction. Langham Capital advised Orb Energy Pte Ltd, one of India's leading providers of off-grid solar solutions, on a capital increase from venture capital investor Acumen Fund, Inc. Langham Capital was the exclusive financial advisor to Orb Energy on this deal.
Orb Energy is a leading provider of off-grid solar systems in India, selling solar photovoltaic power (SPV) systems and solar-powered water heating equipment through its network of branches in four southern Indian states, centred in Karnataka. The company addresses the unexploited revenue growth potential provided by direct sales, installation and service through a branch network to residential and small commercial users, primarily in rural areas.
The management of Orb Energy intends to use the proceeds to expand its branch network and commercial business, to start its distribution and exports business, to scale its manufacturing, and to develop innovative products to meet the needs of its customers.
Acumen Fund invests patient capital in business models that deliver critical, affordable goods and services to the world's poor, improving the lives of millions. Acumen Fund has been investing in India since 2001, focusing on a wide range of sustainable, scalable businesses that use market-based approaches to deliver products and services to millions of rural and urban poor.
Close18th May 2010
Avantha Group, a diversified $4 billion Indian business conglomerate, has acquired 100% stake in a US based healthcare outsourcing company, Pyramid Healthcare Solutions. The enterprise value of PHS is approximately $20 million of which $14.5 million has been paid upfront and the balance will be paid over two years.
This acquisition will help Avantha offer an increased service portfolio to its clients. Pyramid's expertise will equip the company with complete best-practice suite of revenue cycle solutions, including coding services, HIM services, cancer registry, revenue cycle, revenue discovery, charge capture, accounts receivable management, patient financial services, human resources, managed care services, and education and training. It will enable the group to integrate a strong and stable local management team thereby providing a vital platform to achieve scale and size and offshoring potential.
Mr. Gautam Thapar, Chairman & CEO, Avantha Group said, "Avantha Group has an established presence in technology and outsourcing space in the US. This strategic acquisition will strengthen our global presence in the niche healthcare solutions sector."
Mr. Manoj Malhotra, Director, Avantha Business Solutions said, "This acquisition is a strategic fit to boost our growth plans. It will create value for us in the field of Business Process Transformation and consultative solutions through the use of efficient technologies. Access to best practices of Pyramid Healthcare Solutions will help us better engage with our enhanced customer base to effectively manage our business relationships."
Langham Capital acted as exclusive financial advisor to Avantha Group.
Close5th November 2009
One of India's leading FMCG companies, Wipro Limited, has signed an agreement to acquire the Yardley business in Asia, Middle East, Australia and certain African markets for consideration of approximately $45.5 million, from UK-based Lornamead Group. Langham Capital acted as exclusive financial advisor to Wipro Limited.
This is the second largest acquisition made by the Consumer Care and Lighting division of Wipro Limited (its FMCG arm) following its acquisition of Unza in 2007. The transaction is expected to complete by mid December 2009.
Yardley is a strong heritage global brand established in 1770 with fragrance, bath & shower and skin care products. It is a premium priced brand and is one of the few personal care brands which holds Royal Warrants. The brand has a very strong equity globally in markets including Asia, Middle East, Australasia and Africa.
The Lornamead Group acquired Yardley from Procter & Gamble in 2005 and following Lornamead's acquisition, it invested in the brand's product development, distribution channels and merchandising across international markets, significantly increasing Yardley's overall sales and profitability.
Commenting on the transaction, Mr. Vineet Agrawal, President, Wipro Consumer Care and Lighting said "This transaction adds a very strong brand to our portfolio of personal care products. It fits into our strategy of increasing sales and brand presence in the Middle East. The team handling the Yardley brand has a proven track record and I am confident they can leverage our distribution into other Asian markets. Our understanding of the Indian markets will also help to expand Yardley across this region."
"This further demonstrates our focus on investing in strong brands in Asian markets and our desire to be a strong FMCG player across Asia. The Yardley brand complements our portfolio of Enchanteur and Santoor brands. Yardley is a premium brand with strong equity amongst discerning consumers. Lornamead has achieved enormous success in reviving the brand over the last few years. We are confident that we will be able to develop the Yardley brand further to create one of the powerful brands in personal care using our strong R&D and international presence." said Mr. Nagender Arya, Regional Director (East Asia, Middle East and Africa), Wipro Consumer Care and Lighting.
Langham Capital provided financial advice to Wipro Limited.
Close15th September 2008
We are pleased to announce that India's fifth largest IT services company, HCL Technologies Limited, has acquired Control Point Solutions, Inc., a leading provider of telecom expense management (TEM) services in an all-cash deal valued at $20.8 million. Langham Capital acted as exclusive financial advisor to HCL Technologies.
This acquisition marks the latest step in HCL's strategy to seek non-linear growth opportunities in targeted sectors and competencies. This acquisition strengthens HCL's multi-service delivery platform capabilities and complements its remote infrastructure service offerings. As part of the transaction, HCL will acquire four delivery centres in US with over 200 professionals who join HCL with domain knowledge and technical expertise.
Privately held Control Point Solutions is a market leader in the TEM industry. Its internally developed platforms cater to both enterprises and carriers across industry verticals. Customers include Fortune 500 organisations across a broad variety of industries. For nearly two decades, Control Point Solutions has managed the entire telecom expense life cycle for clients, providing industry-leading solutions for their voice, data and wireless requirements.
Ranjit Narasimhan, President and CEO, BPO Services, HCL Technologies, said, "The strategic acquisition of Control Point Solutions is in line with HCL BPO's goal to make strategic, platform-based acquisitions which give us sustainable competitive advantage in our chosen verticals. This acquisition enhances HCL's ability to become an end-to-end provider of business process outsourcing services in the attractive TEM space. With this acquisition, HCL becomes the first business process service provider to enter this market. HCL will leverage its existing experience in TEM to further diversify into other geographies and newer areas like utilities and freight, to name a few."
Bob McMullan, CEO of Control Point Solutions Inc., said, "Over the past years, Control Point Solutions has invested in delivering the most advanced technologies, building new data and service centres and elevating our customer service to become a leader across the industry. HCL Technologies will also facilitate Control Point Solutions' push to offer additional services to our current client base and enhance its current platform."
Close18th July 2008
Forest Essentials, a manufacturer and retailer of quality Ayurvedic products, has sold a strategic stake to Est�e Lauder Companies Incorporated.
Forest Essentials was founded in 2000 by Mira Kulkarni and is today one of the leading beauty brands in the country. The company has more than 100 products, which are sold in Forest Essential's nine freestanding stores in India and in high-end hotels and spas.
Mira Kulkarni, Chief Executive Officer of Forest Essentials said, "This is an important strategic relationship for us. The Estee Lauder Companies expertise in brand-building, marketing and distribution will help take Forest Essentials to its true potential and we in turn offer our partner specialized expertise in natural products. It is matter of great pride that an organic Indian company is able to produce indigenously made products that can compete with the best in the world. "
"Forest Essentials gives us a stronger presence in the rapidly expanding beauty market in India," said William P. Lauder, Chief Executive Officer, The Estee Lauder Companies. "We have seen how more and more consumers around the world are interested in beauty products with a natural heritage. This agreement will help us expand our growing expertise and competitiveness in the natural products arena while Forest Essentials will benefit from our long history of successful brand management and global expansion."
Forest Essentials has grown a 100% in the last three years and internal projections are for another 100% growth in the next two years. The company plans to have 35 stores in India by 2011. It will then look at International locations, in concert with Estee Lauder.
Langham Capital provided strategic and financial advice to Forest Essentials.
Close27th May 2007
Langham Capital is proud to announce the sale of the Rubicon Group, a specialist insurance claims outsourcer, to EMR Technology Ventures, a BPO company based in Gurgaon, India. Langham Capital acted as advisor to the shareholders of Rubicon, Penta Capital Partners Limited through their Penta Fund I.
Rubicon is one of the few specialist insurance process outsourcers in the UK and has deep knowledge and process competence for the UK general insurance market. The company underwent a major restructuring exercise in January 2006, from which it emerged as a profitable operation with a tight focus on processing motor and health claims.
EMR is a respected Indian outsourcer with a focus on sophisticated transaction processing. The acquisition of Rubicon will bring EMR claims handling expertise, access to the UK insurance market, and an experienced team. EMR will in turn be able to offer Rubicon an offshore delivery capability and the support to grow more vigorously.
Langham Capital is very happy to have advised the shareholders of Rubicon in this transaction. Our history with the company goes back four years, and we have felt for some time that Rubicon would be an excellent acquisition target for an Indian BPO company seeking to establish a credible and referenceable presence in the UK insurance market.
Close27th November 2006
DLF has been a leader in the Indian real estate market since its inception six decades ago. It is currently developing residential, commercial, retail and mixed use projects across the country. DLFs primary objective in creating the joint venture with WSP is to partner with a strong global firm that has the skills and scale to service its expanded need for high quality design and engineering services to support the companys developments in the coming years.
There is a strong logic in DLF partnering with WSP as WSP is a leading global business whose experience includes a number of leading projects such as the Freedom tower at ground Zero, New York, the Mall of the Emirates, Dubai, the Royal Bank of Scotland headquarters in Edinburgh, Scotland, and major developments at Heathrow and Stansted airports.
Langham Capital is very excited to have advised the DLF team in this transaction. It expands the activity we have made our niche from the main sectors in which we have operate IT services & software and business process outsourcing into the real estate sector.
Langham Capital has acted as sole advisor to DLF Limited (DLF) in establishing a joint venture with WSP Group plc (WSP) to provide engineering and design services to the construction industry. DLF, Indias largest real estate company, and WSP, a global design and engineering firm based out of the UK, will both contribute equity to create a new company registered in India.
Close26th July 2006
Langham Capital has acted as advisor to Clear (Post Production) Limited in its sale to VTR plc, the UK subsidiary of Prime Focus Limited, the recently listed Indian post-production company. Clear is a London-based award-winning digital visual effects and CG animation studio, catering for the advertising, music video, feature film and broadcast industries.
From its conception in 1994, Clear has grown with the ever-increasing demand for high-end special effects across broadcast media. In 2005, Clear underwent an operator-led management buy-out, making it one of the few London post companies run exclusively by its creative staff.
There was much logic in Clear merging into VTR as this enables Clear to bring the full range of post-production services to their client base. Clear first met with Prime Focus in 2005 and the logic of a Soho-India tie up was immediately obvious. An offering where UK and international clients interact with market-recognised London creative, but backed by the scale and resources of Prime Focus three-site Mumbai offering is a first of its kind and is likely to have a transformation effect on the global post industry.Though a small transaction, the leverage that Clear will bring to VTR and Prime Focus is considerable.
Langham Capital is very excited to have advised the Clear team in this transaction. It expands the activity we have made our niche from the main sectors in which we have operated IT services & software and business process outsourcing into the media sector and pushes the boundary of the work done offshore in India one step further by being in a creative industry.
CloseAcquisition to strengthen Wipro's worldwide Retail solutions portfolio as well as global delivery footprint
1st June 2006
Wipro Technologies, the global IT Services arm of Wipro Limited (NYSE:WIT), announced today that it has signed an agreement to acquire Europe based retail solutions provider, Enabler in an all cash deal. The consideration includes upfront cash payment of approximately Euros 41 Million (which includes actual cash and cash equivalents on the balance sheet) on closure of the transaction as well as earn-outs on achieving agreed financial targets over a two year period.
Enabler was created in 1997, through the planned separation of the IS/IT department of Portugal's leading retailer, Modelo Continente, a division of Sonae Group. Enabler is a preferred integrator of Oracle Retail (Retek) solutions and provider of Retail consulting services for global retailers.
Enabler is one of the leading specialists in consulting and implementation of integrated solutions and effective support of retail systems. Enabler has an impressive customer base that includes more than a dozen Oracle Retail implementations for a diverse set of Retail formats (Food, Fashion, DIY) covering most of the Oracle Retail modules.
Enabler, with delivery centers in Portugal and Brazil, has over 300 employees serving customers in Portugal, UK, Germany, France, Spain, Italy, Middle East and Brazil. During CY2005 Enabler's revenues were approximately Euros 30 Million and the company's profitability was in line with the industry leaders and its peers in the IT Services space.
Sudip Banerjee, President, Enterprise Solutions, Wipro Technologies said, "Retail industry is one of the largest and fastest-growing sectors in the Enterprise Solutions market for Wipro. Enabler's proven and reference-able track record in Retail domain consulting and package implementation skills helps us strengthen our position as a preferred solutions provider to large Retailers globally."
Bhanu Murthy, Senior Vice President, Retail, CPG & Distribution solutions, Wipro Technologies said, "Enabling our clients to win by building a distinct competitive advantage for them forms an integral part of the Spirit of Wipro. We believe Enabler will enhance Wipro's deep Retail knowledge and Package implementation expertise globally and brings strong relationships with some of Europe's best-known retailers and wholesalers."
"This is a win-win partnership where our clients will benefit from Wipro's scale, range of complementary services, and the proven global services delivery capability. We are excited about expanding Enabler's offerings in Retail solutions into Wipro's customer base worldwide." said Antonio Murta, CEO of Enabler.
"Enabler has been a strong partner of Oracle in bringing our Retail Solutions to the customers. Oracle and Wipro have been partnering on enhancing value to our customers. With the combined strengths of Enabler and Wipro, we believe that we have a very strong implementation, consulting and support partner across the globe." said Duncan Angove, Senior Vice President and General Manager, Oracle Retail.
Sudip Nandy, Chief Strategy Officer, Wipro Technologies commented "This acquisition is in keeping with Wipro's articulated strategy of enhancing our domain skills. In addition, this transaction expands our geographic footprint and adds two new delivery centers in strategic locations such as Portugal and Brazil. "
The entire transaction is expected to be closed during the next one month. The closing of the transaction is subject to customary closing conditions and regulatory approvals.
Langham Capital were the financial advisors to Wipro on this transaction.
About Wipro Ltd.
Wipro Limited is the first P CMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. Wipro provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations.
Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange, among others.
CloseNIIT Technologies acquires UK Insurance Solutions Company - ROOM Solutions Limited to complement NIIT Technologies strengths in the insurance vertical.
8th May 2006
NIIT Technologies Limited, the global IT Solutions organization, has acquired a controlling interest in ROOM Solutions Limited, a US$ 25 million, UK-based Insurance Solutions provider headquartered in London with about 120 professionals. The move will strengthen NIIT Technologies presence in the Insurance vertical. NIIT Technologies will acquire the remaining equity in the company over the next 18 months.
ROOM Solutions is focused on the commercial insurance market including IT solutions to the customers of Lloyds, the largest reinsurance market in the UK.
Talking about this acquisition, Mr. Rajendra S. Pawar, Chairman, NIIT Technologies said, The strategic direction for NIIT Technologies has been to sharply focus and scale its business in a few select industry segments such as Insurance. ROOM Solutions strengthens NIIT Technologies insurance capability by bringing in deep domain expertise in the Commercial Insurance space.
ROOMs extensive expertise in the commercial insurance space has enabled it to develop Subscribe, part of a unique software suite that provides insurers with the functionality to sustain profitability throughout the insurance cycle. Over a quarter of Lloyds business is processed on the core policy administration platform Subscribe.
Commenting on the benefits of this acquisition Mr. Marcus Broome, Founder, ROOM Solutions said, NIIT Technologies expertise in providing technology based solutions in the Insurance space will expand our service offerings to the ROOM customer base and improve our value proposition through the established global delivery model of NIIT Technologies.
NIIT Technologies has a strong presence in the Insurance industry and offers services to a wide range of customers globally. This acquisition of ROOM Solutions will strengthen its presence in the UK insurance market and add to NIIT Technologies insurance capabilities globally.
The individual strengths of the two organizations are complementary, said Mr. Arvind Thakur, Chief Executive Officer of NIIT Technologies.
NIIT Technologies experience in the Life and Pensions space will be expanded by ROOMs vast domain expertise in the non-life and re-insurance space. ROOMs existing offerings will be supplemented by NIIT Technologies global delivery capabilities and its Policy Administration Platform is an ideal vehicle from which we can launch an integrated IT and Business Process Management offering, Mr. Thakur added.
Langham Capital were the financial advisors to NIIT on this transaction.
About NIIT Technologies
NIIT Technologies is a global IT solutions organization, servicing customers in North America, Europe, Asia Pacific and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions and Business Process Management to organizations in the Insurance, Financial Services, Transportation, Government, Manufacturing and Retail sectors.
NIIT Technologies follows global development processes and is assessed at Level 5 of SEI-CMMi and Level 5 of People CMM frameworks and has ISO 9001:2000 certification.
NIIT Technologies subsidiaries NIIT SmartServe Limited and NIIT GIS Limited offer Business Process Management and Geographic Information Systems Solutions, respectively.
About ROOM Solutions ROOM Solutions Limited is a leading supplier of solutions and services to the non-life insurance markets. The breadth and depth of ROOMs product and service offerings, in combination with its vision and commitment, enables risk carriers to optimise the management and control of their operational efficiency, business line profitability, and respond to major upcoming market level changes. Close21st April 2005
Accelerates the pace for industry- wide transformation by targeting $1 Billion in operational efficiencies for the Global Investment Management Industry
Firmly positions Satyam as a significant global player in business and technology consulting services arena for the Investment Management Industry
Satyam Computer Services Limited (NYSE: SAY), today announced the strategic acquisition of Citisoft, a highly specialized business and systems consulting firm that has focused exclusively on the Investment Management industry since 1986. With multi-national operating presence in London, Boston and New York, Citisoft has built an enviable reputation as a specialist investment management consulting firm with one of the largest concentration of business consulting expertise in the world. The consideration for the acquisition consists of a guaranteed payment of $23.2m payable over a 3-year period and an additional performance based payment of up to $15.5m, to be paid over a 3-year period.
Satyam is a Rs. 3521 crore global IT solutions provider with operations in 46 countries and over 20,000 employees, offering to the global market a comprehensive range of technology services ranging from application development and maintenance services to managed infrastructure services. Citisoft will operate as a subsidiary of Satyam and be a part of Satyam's Financial Services Group (FSG) which has made significant progress and has been at the forefront of business transformation initiatives over the past two years across the entire value chain in the Securities and Capital Markets Industry ranging from the leading buy-side firms, sell-side firms, stock exchanges, settlement and clearing firms and market data and research firms. A few of FSG's strategic clients were instrumental in introducing Citisoft to Satyam and recommending a strategic relationship between the two organizations with the clear anticipation that they would significantly benefit from the resulting synergy.
In the gamut of the Securities Industry, which had a total IT services spend of $71bn (according to Tower Group) world wide in 2004, approx 10% of this (=$7bn) comes from the Investment Management segment of the Industry which is a $35 Trillion market in itself. Reversing an earlier trend, technology spend in the Investment Management Industry is now beginning to outpace the rest of the Industry and is expected to maintain that momentum over the next four years. Industry trends in this sector are compelling a significant number of firms to outsource and thus increase operational efficiencies from their front to back office operations. Equally important has been the growing need for utilizing technology as an enabler for driving business transformation within this industry. Given the explicit need for very high levels of maturity in understanding this niche and complex market segment, prior to this acquisition, there was no single service provider that could meet the end-to-end business and technology needs of this industry.
"The acquisition is destined to enable Satyam to build a unique position and global footprint in the Financial Services sector and, we believe, the power of the brand, network and market experience will create precisely the mix we need. Both the companies share tremendous synergies in corporate values and client focus which will serve as a further springboard for enhancing our focus in business transformation, commented Mr. B Ramalinga Raju, Founder & Chairman - Satyam.
Commenting on the strategic acquisition Mr. Ram Mynampati, President, Commercial and Healthcare Businesses of Satyam said, Our accelerated growth and prestigious client base within the securities industry demonstrate our ongoing commitment to enable industry-wide transformation in that Industry. With Citisoft's world-class expertise and our global delivery capabilities, we are now in a position to effectively deliver a comprehensive and qualitative suite of solutions that will enable us to target for $1 Billion in cost savings through driving operational efficiencies over a five year period for this Industry.
Jonathan Clark, Founder and Executive Director of CITISOFT commented, Our 1000 man years of deep investment management domain expertise, combined with the breadth and scale of Satyam's global technology integration capabilities, makes this a truly landmark deal for the global securities industry and for our enhanced client base. We can now offer an unrivalled value proposition that covers everything from full-scale business transformation to back-office support at a great value. We are excited about becoming an integral part of Satyam and playing a key role in the industry's evolution and establishing Satyam as a market leader in this industry. The successful closure of this acquisition represents new and exciting opportunities for our clients, our employees as well as for the future of the Industry.
Steve Buckridge, Chief Development Officer for Investment Banking and Asset Management, Bear Stearns & Co, said, We have a very important partnership with Satyam and we greatly value the technology expertise that they bring to the table. We have high regards for the strong domain skills that Citisoft has provided to Bear Stearns Asset Management and hence as a common client for both organizations, we introduced the two organizations to each other as we see immense value in the combined synergy that the two organizations will provide to leading global asset management firms like Bear Stearns. We look forward to taking advantage of this synergistic and integrated value proposition to accelerate Bear Stearns Asset Management's speed to market.
Langham Capital were the financial advisors to Satyam on this transaction.
About Citisoft
Citisoft is a specialist consulting firm that focuses solely on investment management. With a client base of more than 75% of the top 50 global asset managers, Citisoft is the foremost supplier of strategic planning and business consulting services to the institutional and private wealth investment management sector.
Established in 1986, Citisoft has the largest pool of investment management expertise of any consulting firm. Citisoft combines analysis, planning and project management methodologies with expert knowledge of asset management business models, processes and technology.
Citisoft has a high degree of specialization in areas including straight-through processing, client reporting, performance measurement, decision support, order management, trade execution and outsourcing administration and custody. Citisoft also has a division that is dedicated to providing consulting services for transfer agency.
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