Deals Buzz: How will Practo gain from acquisition of Enlightiks?

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Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Practo buys healthcare analytics firm Enlightiks

Healthcare services platform Practo Technologies Pvt. Ltd has acquired Enlightiks Business Solutions Pvt. Ltd, a healthcare analytics solutions firm, in a cash and stock deal.

Practo confirmed the development, but did not disclose the terms of the deal. Mint could not ascertain the deal value.

Established in 2012, with offices in Bengaluru and Charlotte in the US, Enlightiks owns a predictive clinical and computational platform called Querent and uses big data analytics to provide business intelligence to healthcare providers.

The company was started by Indian Institute of Technology-Kharagpur alumnus Vamsi Chandra Kasivajjala, who had earlier worked with Philips India and Religare Technologies among others, along with Shilpa Peri, Venkatesh Pagidimarri, Bas Nair, Shaunak Joshi and Sunil Kondala. Read more

Carlyle set to acquire stake in vaccine maker Bharat Biotech

US-based private equity firm Carlyle Group is set to acquire a minority stake in Hyderabad-based vaccine manufacturer Bharat Biotech International Ltd, two people familiar with the development told Mint.

The investment, which will be made through Carlyle Asia Growth Partners, is around Rs250-300 crore, said one of the two, asking not to be identified. The size of the stake being acquired isn’t known.

Carlyle will buy the stake from existing investors ICICI Venture, International Finance Corp. (IFC) and Subhkam Ventures, which had invested in Bharat Biotech between 2005 and 2007.

“The term sheet between the parties have been signed two weeks ago and the deal is expected to be closed in a month’s time,” said the second person on condition of anonymity. Read more

Dentsu Aegis Network buys Fractal Ink for Rs250 crore

Japanese advertising firm Dentsu Aegis Network Ltd has acquired Fractal Ink Design Studio Pvt. Ltd, an experiential design studio which will join the network’s digital agency Isobar. The agency will be rebranded as Fractal Ink Design Studio—Linked by Isobar, Dentsu said in a statement Thursday.

The deal size is estimated at around Rs250 crore, a person familiar with the deal, requesting anonymity, told Mint.

The acquisition will add scale to Isobar’s expertise in mobility and user experience, Dentsu said in the statement.

Established in 2010, Fractal specializes in user experience (UX) and user interface design (UI) and offers digital design strategy services for clients including Aditya Birla Group, Raymond, Idea group, MetLife, Times Network and Axis Bank. Read more

Claris to sell Baxter its generic injectables business for $625 million

Ahmedabad-based Claris Lifesciences Ltd will sell its global generic injectables business to US-based Baxter International Inc. for $625 million (Rs4,238 crore), it said in a statement.

The company said it intends to share a significant majority of net cash proceeds from the sale (post expenses and taxes) with shareholders.

The deal size is twice Claris’s market capitalization of Rs1,956 crore at Thursday’s closing prices. The transaction is expected to close by the second half of 2017.

While the firm hasn’t specified how much it will return to shareholders, even if 50% of the money from the sale is shared, that translates into a one-time cash bonanza of Rs388 per share, higher than the current share price of Rs358.45. Read more

BSE-promoted CDSL plans to file papers for IPO soon

BSE-promoted Central Depository Services (India) (CDSL) is likely to file draft papers with market regulator Securities and Exchange Board of India (Sebi) for its initial public offering, The Economic Times reported.

Once the IPO plan goes through, it will become the first depository to get listed on the stock exchange.

CDSL allows investors to deposit securities by opening an account. The securities such as shares, debentures, bonds of investors are held in electronic form (dematerialised) at the depositories. It has a little over 1.17 crore investor accounts.

CDSL will submit the draft red herring prospectus (DRHP) for the IPO “very soon”, sources told the paper. Read more

Amagi Media Labs raises $35 million from Emerald Media, Premji Invest

Emerald Media Advisors Pte Ltd, a pan-Asian media and entertainment investment platform, has led a $35 million series D funding round in Amagi Media Labs, it said in a statement on Thursday.

Emerald Media is backed by global private equity (PE) major KKR and invests in the fast-growing media and entertainment companies in Asia.

KKR has committed up to $300 million from its KKR Asian Fund II to Emerald Media. Amagi is a media technology firm providing cloud-based managed broadcast services and targeted advertising platforms to customers worldwide.

Existing investor Premji Invest, the investment arm of Azim Premji, also participated in the round. Other existing investors, Mayfield India and Nadathur Holdings will continue to remain invested in the company, the statement said. Read more

Epsilon Venture invests in Pi Datacenters

Venture capital firm Epsilon Venture Partners and an Australian private equity group have invested around Rs154 crore in Pi Datacenters Pvt. Ltd, a provider of cloud computing services.

Pi Datacenters will use the funds to roll out its first few datacenters across the country, adding to the one it already has. The name of the Australian group was not disclosed.

“As more users go digital in India, lower latency is paramount for better user experience, which is possible only if the digital infrastructure is located within the country,” said Kalyan Muppaneni, founder and chief executive of Pi Datacentres.

The funding round was led by Epsilon’s India-based General Partner Mahesh Vaidya, who will join Pi as a director. Epsilon will be actively involved in building Amaravati-based Pi. Read more