Saksoft acquires US firm Electronic Data
Information management specialist company Saksoft has acquired the US-based business intelligence and information management company, Electronic Data Professionals, through its subsidiary for an undisclosed amount. The company said in a statement on Tuesday that EDP would operate as a separate entity in the US. It would be a direct subsidiary of Saksoft, United States. EDP has been operational for seven years and has grown consistently well for the last few years. The terms of the deal have not been disclosed. The acquisition is effective immediately. Aditya Krishna, CEO, Saksoft said, “Saksoft is investing in sales, marketing and delivery capabilities for the US market and EDP will be an additional channel for client acquisition and account management.”
Mercedes Benz hikes car prices by up to 3%
Mercedes-Benz India on Tuesday declared a price increase plan for their vehicle range in India. The increase in the price range is from 1-3% and will be effective from 14-January, 2013, a company statement said. Eberhard Kern, MD & CEO, Mercedes-Benz India commented, “Rising inputs cost, volatility of the rupee-euro, high interest rates and other associated factors have put significant pressure on us. Consequently, we are forced to share a part of this burden with our customers and we will increase prices of our vehicles to the tune of 1-3% effective January 14.” The price of the B-Class will be increased by 1%, for the C-Class and E-Class sedans it will be 1.5% and for the S-Class sedan, the rise in price will be 3%. The M-Class SUV will be more expensive by 3% and the prices of the CBU range of vehicles comprising the CLS-Class, SLK-Class, R-Class and the SLS AMG will also be increased by 1%.
Easun Reyrolle plans to raise R100 crore
Easun Reyrolle, a key player in electrical power management, plans to raise R100 crore by way of mixed instruments including private placement, offer to qualified institutional buyers (QIBs), rights offer, foreign currency loan and global depository receipts. The company is in the process of expanding its business by pursuing growth opportunities in power transmission and distribution front for which long term funds are required to be generated. It has sought shareholders’ nod for the fund raising plans The fund-raising is to fuel the future growth plans and the existing endeavors of the company. This will help the company repay the existing debts (including those taken from