Bridging Continents: Inbound Investment from India to Australia

Planetcast, a prominent media technology services firm, has completed the acquisition of Switch Media, a leading white-label OTT platform provider. This move, which has been officially sealed, gives Planetcast full ownership of Switch Media's assets. The acquisition is poised to bolster Planetcast's OTT offerings, thereby facilitating its global growth strategy.

MPS Interactive Systems Limited (MPSi) entered into a Share Purchase Agreement to acquire 65.0% equity stake in Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App-eLearn Pty Ltd (Australia), and Liberate Learning Limited (New Zealand), together referred to as the "Liberate Group", for A$9.3 million.

Edtech provider upGrad acquired Australian study abroad company Global Study Partners in an agreement worth A$22.5 million, with the promise of a further commitment of $15 million for future growth. The acquisition marks the first international acquisition for upGrad and strengthens its foray into the study abroad space, one of the fastest-growing segments worldwide.

Black Box Limited, an IT solutions provider, acquired Dragonfly Technologies through its indirect wholly-owned subsidiary, Black Box Technologies Australia Pty Ltd, for A$7.4 million. The acquisition would help Blackbox to strengthen its presence in the Trans-Tasman region and further enhance cyber security, enterprise networking, automation & consulting capabilities to offer a wide range of services to its customers globally. 

Wipro Limited, a leading global information technology, consulting and business process services company, signed an agreement to acquire Ampion, an Australia-based provider of cyber security, DevOps and quality engineering services, from Pemba Capital Partners Pty Limited and others for A$153.7 million. Ampion's synergistic capabilities would support Wipro in broadening its presence and speeding up its progress in the Asia Pacific area.

Infosys Limited entered into a definitive agreement to purchase assets and onboard employees of Carter Digital, one of Australia's leading and award-winning experience design agencies. This asset takeover strengthens Infosys' global design and experience offerings, demonstrates its continued commitment in bringing innovative thinking, talent and creativity to its clients, and provide effective global digital solutions.

Tech Mahindra Limited, a leading provider of digital transformation, consulting and business reengineering services and solutions, acquired Momenton Pty Ltd, an Australia-based provider of cloud and engineering services, for a cash consideration of up to A$14.3 million including earnouts. This acquisition would enhance digital capabilities, modern cloud-based architecture, and drive transformation for clients in the ANZ region, particularly in the Financial Services sector. 

HCL Technologies Limited acquired 100.0% stake of DWS Ltd, an Australia-based company engaged in provision of a range of software, IT and other consulting services, for A$182.8 million in an all cash deal. HCL had been eyeing DWS pre-pandemic, with the idea of growing its market share across Australia and New Zealand to be able to offer customers a deeper array of digital transformation services.

India's Sonalika Group, through its subsidiary International Tractors Ltd (ITL), has acquired Burder Industries Pty Ltd, an Australian manufacturer of agricultural machinery and equipment. Burder's product portfolio includes loaders, forklifts, and attachments like buckets, hay forks, and pallet forks. This acquisition aligns with Sonalika's strategy to expand its global presence in the agricultural sector.

Samvardhana Motherson International Ltd, an India-based manufacturer of automotive wiring harnesses, acquired Lumen Group through its subsidiary, Samvardhana Motherson Automotive Systems Group BV. Lumen Group, an Australia-based company, specializes in designing, manufacturing, and supplying OEM-certified automotive parts, accessories, and dealer-fit products. The acquisition was valued at A$93 million.

Thejo Engineering, a company offering industrial equipment products and services, acquired an additional 6.0% ownership in Thejo Australia for A$0.3 million from Bridgestone Mining Solutions. With this acquisition, Thejo Engineering now possesses an 80.0% stake in Thejo Australia, a service-oriented company primarily focused on belt splicing, jointing, maintenance, and associated product sales.

Himadri Speciality Chemical, a company specializing in specialty chemicals, acquired 12.8% share in Sicona Battery Technologies Pty Ltd for A$10.3 million. Himadri's investment in Sicona aims to facilitate the production of superior anode materials and to delve into pioneering technologies within the battery material sector.

SIS India, a security firm, expanded its reach by acquiring 85.0% of Safety Direct Solutions Pty Ltd, an Australian company offering security, risk management, medical, and training services, through its subsidiary SIS Australia Holdings Pty Ltd, for A$5.0 million. Additionally, on September 12, 2022, SIS India announced its plan to acquire the remaining 15.0% stake in the company. This strategic move solidified SIS Group as Australia's top emergency services provider.

Symphony Limited acquired 920,000 ordinary shares (5.0% stake) of Symphony AU for A$45.8 million from its existing shareholder thereby making Symphony AU a wholly owned subsidiary. The company is a SPV company formed in 2018 for the purpose of acquisition of Climate Technologies Pty Limited (CTPL), a business operating in the air coolers and heaters sector in Australia and the USA.

Brisbane-based Diversify Offshore Staffing Solutions was fully acquired by HGS International, a subsidiary of India-listed Hinduja Global Solutions. HGS International is engaged in providing business process management service. In this transaction, HGS International Mauritius acquired a 100.0% equity stake in Diversify Offshore for A$41.6 million. This acquisition enabled the company to expand its presence in the ANZ region and enhance its portfolio in the US market.

Cyient, a worldwide provider of engineering and digital technology solutions, acquired IG Partners, a specialized consulting firm based in Australia, for A$11.6 million. The strategic acquisition aimed to broaden Cyient's range of services in the local and regional resources sector, allowing customers to capitalize on the increasing integration of operational and information technologies.

Elgi Equipments Limited (ELGi), an India-based manufacturer of air compressors and automotive service station equipment, acquired Pulford Air & Gas Pty Ltd, an Australian company manufacturing air and gas compressors, for approximately A$11.6 million. This acquisition, which includes Pulford’s wholly owned subsidiary Advanced Air Compressors Pty Ltd, enables ELGi to broaden its presence in Australia and strengthen its sales and service capabilities in the region.

Peak XV Partners SEA Seed Investment of India, a unit of Peak XV Partners, acquired Sky Pay Group Holdings Pty Ltd, travel agency operator, for a total A$2.0 million, in a privately negotiated transaction.

Forbidden Foods Pvt Ltd, an India-based snack food manufacturer, acquired Good Oats Pty Ltd, an Australian company producing oat-based products, for A$3.4 million. The company plans to leverage the combined sales and distribution network to establish a leading FMCG business with complementary product offerings.

Uma Exports Limited acquired 100.0% stake of Graincomm Australia Pty Ltd. for A$10000 in an all cash deal. Uma Exports is engaged in the trading and marketing of agricultural produce and commodities and acquisition of Graincomm would enhance its presence in the Australian agricultural market.

Cashify, the India-based used smartphone seller, acquired omnichannel retail solution platform UniShop for an undisclosed amount. The collaboration would help Cashify to further diversify its e-commerce offerings by helping mobile retailers to get a web presence and build their brand, the company said in its official release. The new service line was rebranded as PhoneShop.

Sun Pharmaceutical Industries Limited acquired 12.5% stake in WRS Bioproducts Pty Ltd, an Australian company specializing in innovative algae-based supplements and nutraceutical ingredients for A$2.0 million. Under terms, Sun Pharmaceutical Industries acquired 0.42 million shares in WRS Bioproducts.

Pharmazell (India) Pvt Ltd of India, a unit of PharmaZell GmbH, acquired a 49.9% stake in Pharmachol Chemicals Private Ltd, manufacturer of metal household furniture, from Maramel Pty Ltd, in a privately negotiated transaction.

Tara Jewels Ltd of India acquired a 49.0% stake in Bevilles Corp Pty Ltd, a Melbourne-based jewelry store operator, in a privately negotiated transaction.

Thomas Cook (India) acquired Australian Tours Management Pty Ltd, a Carlton-based travel agency operator, from Kuoni Reisen Holding AG, owned by Kiwi Holding IV Sarl.

Tata Global Beverages Limited acquired a 100.0% stake in the equity capital of Earth Rules Pty Ltd of Australia which is engaged in coffee business under the MAP brand. This acquisition would enable Tata Global Beverages to expand its portfolio to include contemporary, high growth ‘single serve’ business in Australia.

An investor group, comprised of Peak XV Partners, a unit of Sequoia Capital Operations LLC, acquired an undisclosed minority stake in Slice & Co Pty Ltd, a Pyrmont-based provider of financial transactions services, for a total A$7.5 million in a privately negotiated transaction.

CRISIL, the India-based financial and credit rating service, successfully acquired full ownership of Peter Lee Associates for A$6.2 million. This move would enhance CRISIL's global growth in the benchmark analytics and financial services market.

Puravankara and Provident Housing Limited, Indian real estate developers, completed the acquisition of MAP Capital Pty Ltd for a nominal sum of A$4000. MAP Capital Pty Ltd functions as an investment bank, providing a range of strategic transaction services including strategic reviews, mergers, acquisitions, and divestments.

A group of investors including Reliance Industries Ltd, Catalio Capital Management LP and Liveris Family Office acquired an undisclosed stake in Proto Axiom Pty Ltd, the Australia based company engaged to invest in the biotechnology sectors for A$10.0 million.

Medicamen Biotech Limited, an Indian pharmaceutical manufacturer and distributor, acquired OPAL Pharmaceuticals Pty Ltd from its current shareholders for A$0.4 million. Following the transaction, OPAL Pharmaceuticals Pty Ltd became a wholly owned subsidiary of Medicamen Biotech Limited.

Dr. Reddy's Laboratories Ltd acquired the global exclusive intellectual property rights to Fondaparinux Sodium from Alchemia Limited for A$24.9 million. Fondaparnux, which is the generic equivalent of the anticoagulant Arixtra, is one of the top-selling drugs for Dr. Reddy’s in the US market, with a 51% market share.

Strides (Australia) Pharma Pty Ltd, a subsidiary of Strides Arcolab Limited, an India-based pharmaceutical manufacturer and exporter, acquired Arrow Pharmaceuticals Pty Ltd, a generic pharmaceutical business based in Australia, and its assets from Aspen Pharmacare Holdings Limited for A$265.0 million. This acquisition would bolster Strides Arcolab’s product portfolio by expanding its range of prescribed and non-prescribed pharmacy products in Australia.

Epic Energy Limited, an India-based listed company engaged in offering energy conservation and renewable energy products, acquired Timboon West and Yawong wind farms from BayWa r.e. renewable energy GmbH, for a total consideration of A$24.1 million.

International Coal Ventures Private Limited signed an agreement to acquire Rio Tinto Coal Mozambique from Rio Tinto plc for A$53.6 million. The coal mine and assets are located strategically in the prime coking coal bearing region of the Moatize Coal Basin which is stated to be the second largest coal basin in the world after the Bowen Basin in Australia.