Piramal Healthcare and Vodafone Group Thursday announced that Piramal has agreed to purchase approximately 5.5% of the issued equity share capital of Vodafone Essar Limited (VEL) from ETHL Communications Holdings Limited (Essar) for cash consideration of Rs. 2,856 crores (approximately US$640 million).
The transaction follows the settlement between Vodafone and Essar over the sale of Essar’s

Taiwan’s MediaTek Inc., a leading fabless semiconductor company for wireless communications and digital multimedia solutions, announced that it has invested into Spice Digital Limited, one of the largest Mobile Value Added Services (mVAS) players in India with presence in close to 20 countries. In connection with this agreement, MediaTek will invest US$ 20 million.
According to

JWT, the leading global advertising network and India’s largest integrated communications company, has agreed to acquire a majority stake in Mindset Advertising Private Limited, Hyderabad’s highly awarded advertising agency, which had so far been a JWT associate.
Colvyn Harris, CEO of JWT India, said Hyderabad figures as one of the most promising cities in JWT’s growth

Vodafone Group, Essar Communications (Mauritius) Limited (ECML) and ETHL Communications Holdings Limited (ECHL) agreed the terms under which ECML and ECHL will sell their direct and indirect shareholdings in Vodafone Essar Limited (VEL).
Under the terms of the agreements, ECML’s wholly owned subsidiaries, Essar Communications limited (ECL) and Essar Com Limited (ECom), have sold their entire

e-Zest Solutions Ltd acquired India’s Pune-based Maestro Mobile Services. This acquisition strengthens e-Zest’s mobile development services portfolio including consulting and testing services for iPhone, RIM Blackberry and Android platforms.
A global software services company, e-Zest is focused on product development services on emerging technology platforms and enterprise cloud computing application services.
According to e-Zest, the latest reports

Sistema, the largest diversified public financial corporation in Russia and the CIS, Friday announced an increase in the share capital of Sistema Shyam TeleServices Ltd (SSTL). Sistema Shyam TeleServices is Sistema’s subsidiary in India that provides telecommunications services under the MTS brand. The capital stake increase was by means of an additional Sistema share issue.
Sistema

India Telecom Infra Ltd is to merge with New SIlk Route (NSR). NSR is controlled by Ascend Telecom Infrastructure Pvt Ltd. Ascend (formerly Aster Infrastructure Pvt Ltd)  and India Telecom Infra are both independent telecom tower operators whose customers include almost all of India’s mobile operators.
The merger is to create an independent telecom tower operator

Jigsee Inc Tuesday announced it had raised funding from the Indian Angel Network (IAN) for its planned expansion in India. The Canadian based firm raised Series A funding from IAN. Jigsee will use the funds to expand its India presence and to fuel the deployment of its mobile application in India and neighboring countries. Post

Indian telecoms giant, Essar Group, reacted strongly to objection from the UK’s Vodafone over Essar’s reverse merger plans. The Essar Group wants reverse merger of Essar Telecom Holdings Ltd into its listed group firm, India Securities Ltd. Vodafone Plc currently holds a 67 per cent stake in Vodafone Essar in India, and has objected to

LinguaNext announced Sunday the acquisition of Image Point Technologies. LinguaNext is a global application language enablement solutions provider. The move has enabled the firm to foray into India.  LinguaNext eyes an over Rs300 crore revenue in the next three years, a top company executive said. LinguaNext will offer local language solutions mainly in the e-governance,