Reserve Bank of India has approved ING Vysya-Kotak Mahindra merger. The acquisition will make Kotak Mahindra fourth largest private sector lender in the country, with a total business of ₹2.25 lakh crore.
Telecom major Bharti Airtel has launched an open marketing platform—Airtel Zero—that will allow customers to access a variety of mobile applications for free while the data charges will be paid by the application providers. Akin to the established concept of toll-free voice calling, Airtel Zero will allow everyone from big marketers to small-time application developers to make parts or their entire mobile app free for customers – thus reviving interest of dormant customers, attracting new potential users and increasing retention.
India’s leading online marketplace Snapdeal has acquired mobile transactions platform FreeCharge in a cash-cum-stock deal for an undisclosed amount to become an m-commerce firm.
IndusInd Bank Ltd has decided to buy Royal Bank of Scotland’s diamond and jewellery financing business in India and the related deposit portfolio.
Finnish network equipment maker Nokia has agreed to buy Alcatel-Lucent in an all-share transaction that values the smaller French rival at 15.6 billion euros ($16.58 billion). The takeover will help the companies a better take on mobile leader Ericsson of Sweden, and cut costs amid weak growth prospects in the telecom gear industry. The combined firm will have a global wireless market share of 35 percent, second only to Ericsson with 40 percent, and ahead of China’s Huawei at 20 percent.
Iconic business leader Ratan Tata has acquired a stake in Chinese handset maker Xiaomi, the first investment by any Indian in the smartphone maker. He has already made personal investments in homegrown e-commerce players like Snapdeal, Urban Ladder, Bluestone and Cardekho.Com. He has also invested in mobile commerce firm Paytm.
French IT services company Capgemini will buy US-based IGATE Corp for $4 billion cash in a deal that will make North America its biggest market. IGATE, a technology and services company headquartered in New Jersey with 2014 revenues of $1.3 billion, double-digit growth, and a 19% operating margin, is to be acquired for $48 a share.
The new web browser in Windows 10 is called Microsoft Edge.