Cadbury India, a subsidiary of Mondelez International Inc, has changed its name to Mondelez India Foods. This is in line with the gradual name change for all subsidiaries of Mondelez International across the globe. Announcing the news, Manu Anand, managing director of Mondelez India Foods, said, “With the change in name, we conclude the process of transition that began over two years ago. We view this change as yet another milestone in our journey of success and leadership.” According to Anand, the change in name will have no impact on the packaging of its products, which will continue to be sold under the same brand name as before.
Tech Mahindra to acquire 75 % stake in startup
Tech Mahindra has entered into an agreement to acquire 75 % stake in a technology startup, FixStream Network Inc (FSNI), for $10 million, or about R60 crore, the company said in a stock market disclosure. “FSNI is going to develop emerging technology which will benefit Tech Mahindra’s customer base,” it said. Tech Mahindra shares touched a high of R1, 790, up 1.14%, during intra-day trade on the BSE on Monday. They were trading at R1, 774.80 at 2 pm.
Alstrom bags ¤30-m contract from BHEL
French power equipment maker Alstom said on Monday it had bagged a 30-million-euro contract from state-owned BHEL to supply parts and services for a thermal power plant in Odisha. "Alstom has been awarded a contract by Bharat Heavy Electricals worth close to 30 million euros (about R250 crore) to supply components and services for the 2x660 MW Banharpalli super thermal power project located in Jharsaguda, Odisha," the company said. Separately, Alstom T&D India has secured a contract worth euro 8.4 million (R67 crore approximately) from PowerGrid Corporation to expand and upgrade energy management systems for several control centres in the northeast.
Aspire Systems acquires Belgium IT offshoring co
Chennai-based Aspire Systems on Monday announced the acquisition of Applied Development, a Belgium-based IT offshoring company that develops software for European customers in India, for an undiclosed sum. This acquisition will help Aspire expand into the European market, particularly in the Benelux region (includes Belgium, Netherlands & Luxemburg), with a recognided client base created by Applied Development. With a headcount of fifty employees in India and Belgium, Applied Development recorded a 45% increase in revenue last year.
Theresa Stevens is Lupin’s global m&a head
Lupin has announced the appointment of Theresa Stevens as chief corporate development