Alliance News: 26/3/10

$75 MILLION SPHERIS SALE TO CBAY HITS ROADBLOCK
Kumar Shankar Roy, Kolkata
Financial Chronicle

CBay Group's chief executive Raman Kumar's $75 million attempt to buy key business of bankrupt medical technology US firm Spheris may get stuck with Larry Ellison-led Oracle, globally the second biggest software maker, voicing its displeasure over the deal.

Oracle America has objected to the proposed sale (of selected asset and liabilities) of Spheris to CBay, saying it wants the US court to refuse any provision that would allow for the 'unauthorised' transfer of Oracle's software. Oracle is a creditor and contract counter-party in the Spheris bankruptcy case. According to Oracle, the purchase agreement between CBay and Spheris contemplates amongst other things a transition services agreement, which could grant the acquirer(s) and Spheris rights to allow simultaneous use of, and access to, Oracle’s software.

Alliance News: 24/3/10

MARG, VIRGINIA TECH TIE UP TO SET UP VARSITY CAMPUS
Chennai
The Hindu Business Line

The Chennai-based Marg Ltd has entered into a joint venture with Virginia Tech University of the US to set up a campus at Marg Swarnabhoomi, the SEZ and township to the south of Chennai.

Addressing a press conference, G.R.K. Reddy, Chairman and Managing Director, Marg Ltd, said the company has entered into an agreement with the Virginia Tech to set up Virginia Tech Swarnabhoomi, India, at Marg Swarnabhoomi coming up on the East Coast Road, about 60 km south of Chennai.

The joint venture provides for setting up a Virginia Tech University campus offering masters and doctorate programmes here. It will be finalised once the regulatory issue and law on foreign universities is in place.

Alliances News : 16/3/10

IKF TECH, WAPMERR IN PACT
Kolkata
The Hindu Business Line  The Hindu  

IKF Technologies Ltd has entered into an agreement with WAPMERR-India, a developer of geo-information technologies to take up projects related to Geographic Information System (GIS) and Marketing Information System (MIS). “We have jointly bid for six projects, funded by different state governments and city administrative departments,” C.S Jalan, MD, IFK Technologies, said. The projects, spanning across Western India, Bihar and Chennai, mostly dealt with disaster management services, he pointed out.

GSS AMERICA EYEING $60-M ACQUISITION
Hyderabad
The Hindu Business Line

GSS America, a managed IT services company, has said that it is in talks with a few players from the US and India for a possible $50-60 million acquisition, in the next financial year. The company is looking to add strengths in areas such as security and application management solutions.

“We have taken a nod from the EGM recently to raise up to $75 million. We will decide on the fund-raising plan in the first quarter of next financial year (the company's financial year begins in June),” Bhargav Marepally, Chief Executive Officer of GSS America, said.