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IMaCS Virtus Global Partners
(IVG Partners), a joint venture between ICRA Management Consulting
Services and Virtus Global Partners, offers transaction advisory to
North American and Indian companies seeking cross border growth and
investment opportunities.For more information, please visit www.ivgpartners.com
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October 2010 was an active month for cross border
M&A transactions between India and the US. There were four
US-bound acquisitions from India and two India-bound
M&A transactions from the US. Most of these transactions were
in the areas of life sciences, energy and technology.
The key transaction this month were Rolta's acquisition of
CommanBridge Security Technologies, Opto Circuits' acquisition of
Cardiac Science Corp and Videolocity International's merger with
Avtar Singh Construction Ltd. In addition, KKR made a private
equity investment of $49.23 million in Avantha Power &
Infrastructure.
Opto
Circuits's acquisition of Cardiac Science Corporation, a
manufacturer of advanced diagnostic and therapeutic cardiology
devices and systems, for $55 million represents the high growth
potential of US healthcare equipment market for the Indian
companies. This acquisition provides Opto Circuit's entry into the
high-growth automated external defibrillation market with
significant economies of scale.
This month also had KKR acquiring a 9% stake in Avantha Power
& Infrastructure Ltd, a Gurgoan-based owner and operator of
thermal plants for USD 49.23 million. Indian power generation
companies have been attracting significant investor interest in the
past few months as companies look to tap the market that has
shortage of electricity supply. The high economic growth in the
country requires abundant power supply to run factories and
investors are betting on this demand to grow significantly in the
next few years. This is the fourth investment by KKR, which has so
far put in nearly $1 billion in the previous three transactions,
namely; Aricent, Cafe Coffee Day and Dalmia Cement
Welcome to the November 2010 edition of our US-India
newsletter, which focuses on key developments and issues affecting
foreign direct investments (FDI) and foreign institutional
investments (FII) between the US and India. For more information,
please visit www.ivgpartners.com
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A Guest column by Prashant Kale
(Rice University), Harbir Singh (Wharton School) and Anand P Raman
(Harvard Business Review)
 Partnering
is a trend in emerging multinational companies that has changed the
way acquisitions are seen in business. In many ways, this type of
approach seems ideal for emerging companies: it does not tie up
large amounts of resources or managers' time to integrate both
firms; it favors a risk-taking attitude and allows the company to
take full advantage of the acquired firm's physical and human
capital. |
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With more than 638 million-line telephone
network (fixed plus cellular) India is among the top 4 networks in
the world. India has one of the fastest growing telecommunications
systems in the world, with system size (total connections) growing
at an average of more than 20 percent per annum over the last 4
years. According to the Government of India (GOI), the demand for
new telephone lines during the next 3 years is estimated to be over
200 million. The industry is considered as having the highest
potential for investment in India.
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Infrastructure
& Manufacturing
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| IMaCS
Virtus Global Partners
501
Fifth Ave, Suite 302
New
York, NY 10017
(646)
807-9290
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