Top Stories 

Piramal Healthcare to acquire Decision Resources Group

Piramal Healthcare Limited, an innovation led company, has agreed to acquire Decision Resources Group  a US based company in the healthcare information segment, for a consideration of approximately US$ 635 million (~Rs. 3,400 crores). 

Decision Resources Group provides high quality, web-enabled research, predictive analytics via proprietary databases and consulting services to the global healthcare industry.  With 20% CAGR for the last five years, it is one of the fastest growing companies in the US$ 5.7 billion global healthcare information industry.  DRG projects revenues of US $ 160 million for 2012.  48 of the top 50 global pharmaceutical companies are its customers and it has an overall customer retention rate of 95%. 

DRG is focused on three market segments: (1) the Biopharma business unit provides reports, databases and advisory services on drug utilization trends and forecasting in a variety of therapeutic areas; (2) the Market Access business provides database and analytical services that healthcare companies use to assess the current and future opportunity of their products’ acceptance into a market; and (3) the Medical Technology business provides actionable insights and data on the medical device markets.  DRG’s products include detailed market assessments based on a specialized network of over 125,000 healthcare professionals (primarily physicians), proprietary databases of market information and detailed analytical reports on specific therapeutic areas.

The three market segments that DRG covers are worth approximately US$ 2.5 billion, leaving considerable room for DRG to continue to grow its revenues. 

In Focus Stories

Videocon Industries to mull demerger of Oil & Gas assets

Videocon Industries Ltd has said that a meeting of Notice is hereby given that a meeting of the Board of Directors of the Company will be held on May 24, 2012, inter alia, to discuss and consider:

The proposal to Demerge the Oil and Gas Asset(s) with a view to unlock the value for shareholders and allow a focused strategy in operation and improvement in the business prospects of the Company especially in light of significant discoveries with prospects in Mozambique and Brazil.

Appoint various Intermediaries for the purpose of implementation of the recommendation, as may be in-principally approved by the Board.

Domestic News

Bharti close to buying Qualcomm's broadband license

Qualcomm Inc is asking Bharti Airtel Ltd to pay about Rs50 bn for its Indian unit as the two companies seek to conclude talks in the next two weeks, according to reports.

Reports stated that Bharti may purchase the unit in installments over two years.

Under the plan, Bharti would initially purchase a 26% stake in the unit, currently held by Tulip Telecom Ltd. (TTSL) and Global Holding Corp., and Qualcomm will own 51% of the division for at least two years after that, says report.

DTDC acquires Eurostar Express of UAE

DTDC Courier & Cargo Ltd., India’s premier express courier company became the first Indian Express company to have made an acquisition outside India with its recent acquisition of a majority stake in the company Eurostar Express of UAE in April 2012. The joint venture in Dubai will be 52% owned by DTDC, 33% by the UAE-based Eurostar group and 15% by DTDC’s local partner in UAE.

DTDC is a household name in India and has been building its global presence for last few years. DTDC provides services to over 240 international locations through various arrangements such as 100% subsidiaries, Joint Ventures and International Master Franchises. Apart from the UAE, it also has its own offices in USA, UK, Australia, Canada, Singapore and China.

Simplex Infra acquires Joy Mining Services

Global News

ArcelorMittal announces sale of Skyline Steel and Astralloy business in NAFTA region

ArcelorMittal announces the sale of its steel foundation distribution business in NAFTA, namely Skyline Steel and Astralloy (“Skyline Steel”) to Nucor Corporation (“Nucor”) for a total consideration of approximately $605 million on a debt free and cash free basis (and subject to customary closing adjustments). The transaction includes 100% of ArcelorMittal’s stake in Skyline Steel’s operations in the NAFTA countries and the Caribbean.ArcelorMittal will continue to own and operate the foundation distribution businesses in the rest of the world.

Skyline Steel is a premier steel foundation distributor serving the US, Canada, Mexico and the Caribbean and is a wholly-owned subsidiary of ArcelorMittal. Skyline Steel distributes high quality products to service the most challenging applications in the construction and infrastructure industries, including marine construction and bridge and highway construction. Skyline Steel sources its products from a range of suppliers including Nucor which is currently its largest supplier of steel. In 2011, Skyline Steel generated revenues of $873 million.

Carzonrent announces acquisition of QCABS

Carzonrent (I) Pvt Ltd announces the acquisition of leading online car rental service aggregator QCABS. Carzonrent, which has been in the business of renting cars, Radio Taxi (under the Easycabs brand) and Operating lease business will be working on enhanced technology platforms post the acquisition to make a significant retail foray.

IIT alumnus, Gaurav Dosi, CEO and Reshav Singla, CTO, who founded QCABS excelled in matching user requirements with the cab operators from the unorganized sector. Their portal was extensively used by travel agents from Mumbai and other metros for multi-day travel schedules.

This acquisition represents an important component of Carzonrent’s growth strategy to give shape to its plans of foraying extensively in the retail space. With the QCABS team Carzonrent will be working to create customer friendly and e-commerce efficient platforms.

Agilent to buy diagnostic firm Dako for $2.2 bn: reports

Agilent Technologies Inc is planning to buy Danish cancer diagnostics company Dako from Sweden-based private equity group EQT for $2.2 bn,according to reports.

Reports stated that Agilent's strategy in acquiring Dako is about strengthening the company's presence in life science and about revenue growth.

Nationstar Mortgage plans to buy mortgage assets: reports

Icahn eyeing stake in Chesapeake Energy: reports

LinkedIn has 'zero interest' in buying Monster: reports