M&A; Activity Around The Globe: CTSH, Zaffera, Readen Holding, On-Mix.com, Biotie Therapies, Newron Pharma, Reliance Communication,
Tuesday, September 27, 2021 1:12 PM



As the US stocks trade higher on Tuesday, on hope that euro zone officials were working to beef up the region's rescue fund to ease the debt crisis, several M&A activities took place around the world. Some notable M&A activities are discussed here.

Cognizant Acquires Zaffera, Strengthens Retail Industry Capabilities

Cognizant Technology Solutions Corp. (Nasdaq: CTSH) a leading provider of information technology, consulting, and business process outsourcing services, has acquired substantially all of the assets of Zaffera, LLC, a strategic SAP retail consulting and software development firm based in Princeton, NJ. The acquisition is expected to expand Cognizant's ability to provide industry-focused SAP consulting and software solutions to help major retailers gain better insights into their business, streamline operations, enhance customer satisfaction, and improve responsiveness to changing market conditions. Terms of the transaction were not disclosed. CTSH was trading higher by 2.34 percent to $65.55 on Tuesday.

Readen Intends to Acquire On-Mix.com

Hartford, Connecticut-based development stage company, Readen Holding Corp. said Tuesday, that it has signed a letter of intent for the acquisition of On-Mix.com through Readen's subsidiary, D5 Mobile, the Netherlands, the distributor of the Readen's telecom hardware and software applications. On-Mix.com is an online music distributor and platform with more than one million unique visitors per month and growing, totally generated through their social media marketing expertise. The On-Mix.com acquisition will bring to the Readen Group technical and creative expertise to build a mobile driven music platform for free and paid music downloads for all D5 mobile end users. Mr. G. R Steenbergen president of Readen Holding Corp. (RHCO) says "This is a major step towards our plan to become a full service telecom organization. With On-Mix.com and its management, we have acquired all the company's expertise in social media marketing and D5 Mobile will strengthen On-Mix.com's revenue model with Readen's commercial expertise."

Biotie Therapies to Acquire Newron Pharmaceuticals

Finland Based, Biotie Therapies Corp. said today that it has signed an agreement to acquire Switzerland-based Newron Pharmaceuticals S.p.A. in a transaction valued at $60 million (EUR 45 million). The Transaction is still subject inter alia to the approval by the EGM of Newron expected to be convened at the end of October 2011. With this acquisition, Biotie will be able to create a deep pipeline with two drugs, nalmefene and safinamide, in late-stage Phase 3 development targeting alcohol dependence and Parkinson's disease, respectively. Further, the compbination of the two would create a biopharmaceutical company with significant central nervous system (CNS) expertise, international operations and industry leading partners including Lundbeck, Roche, Merck Serono and UCB Pharma. The transaction is also expected to create two opportunities for near-term revenue generation in the CNS market.

India’s Reliance Communication in Talks to Sell Tower Unit Stake

India’s Reliance Communications said on Tuesday, that it is in advanced talks with several consortiums to sell its tower unit, bringing the company closer to possibly sealing a deal after trying for more than a year to offload the stake and shave debt. "When we hopefully conclude the Reliance Infratel transaction, it will be the largest private equity transaction in the history of this country," Chairman Anil Ambani, told shareholders at its annual meeting. Reuters reported in August, that the company has more than $7 billion in debt, and it has hired UBS to raise $5 billion from its 95 percent stake in the tower unit. But potential bidders had expressed concern about debt-laden Reliance's valuation being at least a billion dollars too high, the sources had said, adding there were no offers on the table because of the big valuation gap.


 

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