September 2010
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TPG to sell up to $69 mln stake in Parkway Life

Private equity firm TPG [TPG.UL] is selling its 9.3 percent stake in Parkway Life REIT in a deal that could raise as much as S$91.1 million ($69 million), IFR Asia reported on Wednesday. TPG is offering 56.25 million shares at a guidance range of S$1.56-$1.62 each, representing a discount of 6.6 percent to 3 percent to Parkway Life's last traded price. Goldman Sachs is sole bookrunner for the deal. TPG had been expected to sell its stake in Parkway Life after Malaysian state investor Khazanah took control of Parkway, which runs some of the properties owned by Parkway Life. […]

September 22nd, 2010

Redington to buy 49% stake in Turkish IT co for $42.45 mn

IT distributor Redington (India) today said its overseas subsidiary will acquire a 49.4 per cent stake in Turkey-based Arena for USD 42.464 million (about Rs 194 crore). Redington International Holdings, a subsidiary of the company, has entered into a share purchase agreement with the promoters of Arena Bilgisayar Sanayi Ve Ticaret Anonim Irketi (Arena) to acquire a 49.4 per cent stake, Redington (India) said in a filing to the Bombay Stock Exchange . “This is a part of the company's strategy to explore opportunities in new markets,” the company added. The transaction would get consummated on satisfaction of all conditions including, but not limited to, all legal permits that are required, it said. […]

September 22nd, 2010

Aryaka raises $14 million in funding, launches new platform

Aryaka Networks, provider of cloud-based application accelerations and WAN optimization solutions, has raised $14 million, including Series A funding from Trinity Ventures, Mohr Davidow Ventures, Nexus Venture Partners and Stanford University, said the company in a statement. The company also announced the launch of the Aryaka platform. The platform would enable enterprises to deploy WAN optimization quickly, with no capital expenditures and will deliver a 99.999 per cent network uptime, the company claimed. For an organization spending $6,000 per month on dedicated connectivity for six locations across the globe, Aryaka is likely to deliver over a period of three years, benefits in excess of $1 million, said the company in a statement. […]

September 22nd, 2010

CRISIL to acquire Pipal Research for $12.75 mn

CRISIL Ltd. said Wednesday it has signed a pact to buy unlisted U.S.-based knowledge process outsourcing company Pipal Research Corp. for $12.75 million. Pipal Research reported revenue of $8.1 million in the fiscal year through March 2010, the unit of Standard & Poor's Corp. said in a regulatory filing. Currently, Firstsource Solutions Ltd. owns about 51% of Pipal, CRISIL said. […]

September 22nd, 2010