Nihilent buys back stake from NTT, and other news
Here is your daily dose of key developments from the technology world of India.
Nihilent buys back controlling stake from NTT
The founder-promoter of Nihilent Limited—a technology services company—will be buying back the controlling stake from NTT Limited of Japan for an undisclosed value.
The 69.16% stake held by NTT in Nihilent will be bought back by founder-promoter L C Singh as a leverage buyout through debt financing from a group of funds.
The funds participating in this transaction include ICICI Prudential Corporate Credit Opportunities Fund AIF-I of ICICI Prudential Alternate Investments and Piramal Structured Credit Opportunities Fund, the Performing Credit Fund managed by Piramal Alternatives Private Limited.
Founded in 2000, Nihilent provides a range of technology consulting services and has a presence in India, South Africa, the US, the UK, Sweden, and Australia. NTT first bought its stake in Nihilent in 2017.
Bharti AXA Life Insurance partners with MoEngage
Bharti AXA Life Insurance has partnered with MoEngage for customer engagement initiatives. Under this partnership, MoEngage will handle all engagement initiatives related to new business implementation for Bharti AXA Life to bring new features to the brand’s app and potentially boost revenue.
According to a statement, after adopting MoEngage’s engagement platform, Bharti AXA Life has streamlined the communications flowing through channels like WhatsApp, emails, and SMSes for effective engagement with its customer base.
HPE to acquire Juniper Networks for $14B
Hewlett Packard Enterprise (HPE) will acquire Juniper Networks for an enterprise value of $14 billion. This combination is expected to push HPE’s portfolio mix shift toward higher-growth solutions and strengthen its high-margin networking business. The acquisition is expected to double HPE’s networking business.
Upon completion of the transaction, Juniper CEO Rami Rahim will lead the combined HPE networking business, reporting to HPE President and CEO Antonio Neri.
“HPE’s acquisition of Juniper represents an important inflection point in the industry and will change the dynamics in the networking market and provide customers and partners with a new alternative that meets their toughest demands,” said Neri.
Edited by Suman Singh