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In 2010, Sahara failed to acquire the legendry but debt-ridden Hollywood studio Metro-Goldwyn-Mayer
Inc for $2 billion.
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eClerx acquires US-based Agilyst
eClerx Services Ltd has acquired US-based Agilyst Inc, a knowledge process outsourcing company
through its overseas subsidiary eClerx Investments Ltd.
Agilyst Inc. will operate as a fully-owned subsidiary of eClerx. Amarchand Mangaldas, which acted as the
Indian legal advisor to eClerx Services, said in a statement. The transaction will be funded from eClerx's
internal resources and there is no intention to raise any incremental capital. The deal value is
confidential.
Avendus Capital served as the financial and strategic advisor to eClerx on the transaction while MAPE
Advisory Group served in the same capacity for Agilyst. Agilyst's management team will continue to
manage day-to-day operations. The consideration for the acquisition will be all cash and includes a
substantial earn out component based on Agilyst's future performance.
Founded in 2007 by Mr. Mahesh Dhillon, Agilyst is a back-office operational and Analytics Company
focused on the North American media industry. Agilyst's services include critical error identification,
customer experience analysis and end user support services. Agilyst has a low cost delivery base in a
Tier-2 city. It employs approximately 1,000 people, most of them in India.
Founded in 2000, eClerx provides data analytics and customized process solutions to global enterprise
clients. eClerx currently employs more than 4,000 people across five delivery centers in India It has sales
and marketing offices located in London, New York, Austin, Dublin and Singapore.
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Bharti in talks to buy Qualcomm licenses
Bharti Airtel is reportedly in advanced discussions with US chipmaker Qualcomm to buy the latter's
fourth-generation licenses for about Rs. 6,000 crore, an acquisition that will allow the country's largest
telecom services provider to quickly launch 4G services in the key markets of Delhi and Mumbai.
Citing an unnamed person familiar with the matter, The Economic Times said the deal is likely to be
closed by June and will be accompanied by technology agreements between Qualcomm and Bharti.
Fourth-generation, or 4G, services offer users internet access at three times the speed of 3G and
requires broadband airwaves.
Qualcomm, which had won airwaves in four regions - Mumbai, Delhi, Haryana and Kerala - in the
broadband wireless auction of 2010 for Rs4,900 crore, had begun talks to sell its 74-per cent stake in its
Indian joint venture to Bharti later that year.
But the talks were put on hold after the telecom department cancelled the US chipmaker's mobile
broadband permits last year on the grounds that it had not applied for licenses within three months of
the auction.
The telecom department further alleged that Qualcomm applied for permits under the names of four
different companies, violating auction guidelines that said winners could nominate only one company
for obtaining a licence.