Mergers News: 30/12/09

SONATA SOFTWARE TIES UP WITH MAXIMUM PROCESSING
Bangalore
The Hindu Business Line  

IT consulting and software services firm Sonata Software has tied up with Maximum Processing to increase the delivery capabilities of its Stingray System, a Web-based property and casualty insurance administration solution.

Under the tie-up with Maximum Processing, Bangalore-based Sonata will help insurance companies implement a reliable, fast and accurate core system in keeping with the requirements of dynamic business and industry environments, according to a Sonata release on Tuesday.

Maximum's Stingray is a browser-based system, which provides workflow, imaging and third party interfaces for credit card, general ledger and bureau statistics reporting functions.

AURIONPRO SOLUTIONS TO DISCUSS MERGER PLAN ON DEC 31
Mumbai
The Hindu Business Line  The Financial Express  

IT solutions provider Aurionpro Solutions on Tuesday said its board will meet on December 31 to consider the merger of Kairotef Analytic with itself.

The board would meet to consider scheme of arrangement and merger of Kairotef Analytic into the Aurionpro Solutions, subject to the approval of the Mumbai High Court, Aurionpro Solutions said in a filing to the BSE.

COMP U LEARN TO ACQUIRE 51% STAKE IN DUBAI CO
Mumbai
The Hindu Business Line

Comp U Learn Tech India on Tuesday said its board has approved to acquire 51 percent stake in Dubai-based Shouk Investment Consultancy for developing business in the Middle East countries for an undisclosed amount.

“The sole objective in acquiring this company is for the promotion and development of e-governance and e-learning businesses in the Middle East countries,” Comp U Learn Tech India said in a filing to the BSE.

BIRLA HIRES HUL LEGAL OFFICER FOR M&AS
Namrata Singh,Mumbai
The Times of India

Kumar Mangalam Birla-controlled Aditya Birla Group is beefing up its legal operations in sync with its hectic M&A activity. The group has roped in Ashok Gupta from Hindustan Unilever (HUL) as the new group legal counsel and chief legal officer. Gupta, who tendered his resignation at HUL last week, will join the AV Birla group in March 2010. He will head the legal function for the entire group, including its global operations.

While the position of chief law officer at the Aditya Birla group was lying vacant and the Birlas were on the lookout for a suitable candidate, the group's head (corporate legal), M R Prasanna is due to retire in April next year. In keeping with its pace of growth, particularly inorganic, the AV Birla group has been bolstering its legal department over the last 4-5 years. The objective is to be focused on future in a changing legal landscape.

"We wanted Ashok to join us because he has expertise in M&As. He also has global experience and was handling South Asian region for Unilever out of India," said Santrupt Misra, executive director (HR & IT), Aditya Birla Group.

As part of his profile, Gupta will interact with other business heads on various opportunities in acquisitions, mergers and divestitures. M&A activity at the Rs 1,30,000 crore AV Birla group has been gathering momentum over the past decade. From its first acquisition of Indal from Alcan at the beginning of the decade — to the acquisition of Canadian firm — Novelis, the AV Birla group has grown by leaps and bounds through inorganic growth initiatives.

Its foray into telecom through Tata-Birla-AT&T JV, and then the acquisition of Tata group's stake in Idea Cellular was another landmark. The diversified conglomerate then brought L&T's cement business into its fold, and in the last couple of years, has acquired TransWorks, Minacs and Trinethra to grow in the new age businesses of BPO and retail.

With Gupta coming on board, Aditya Birla group continues to attract people from HUL — perceived to be a hot-bed for talent. Prior to Gupta, quite a few Lever executives had joined the AV Birla group. Debu Bhattacharya, MD of group flagship, Hindalco, had quit HUL in 1998 to join the Birlas to head their fertiliser business.