Category Archives: Business

BDA Advises on Acquisition of Cigniti Technologies by Coforge

New York, NY, May 31, 2024 — BDA Partners is pleased to announce that its client, Coforge Ltd (NSE: COFORGE), a leading global Digital Services and IT Solutions company, has signed definitive agreements with the promoters and select public shareholders of Cigniti Technologies (NSE: CIGNITITEC), to acquire a majority stake.

Cigniti is a Digital Assurance and Digital Engineering Services company. Coforge has also launched an open offer to acquire an additional 26% stake in Cigniti.

Both companies are multinationals, with origins and stock market listings in India and have a senior leadership presence in the US and India with a sizeable revenue base in the US.

This acquisition will help Coforge to expand its capabilities across the Retail, Hi-Tech/ISV and Healthcare verticals and scale up its clientele presence across the Southwest, Midwest and Western US markets.

Manoj Balwani, Head of Technology, US & India, BDA Partners, said, “We’re delighted to play a significant role in this marquee transaction. Hearty congratulations to the Coforge leadership team as they embark on this highly synergistic journey. This is BDA’s tenth successful transaction in the US-India corridor in the last three years. It demonstrates our market leading share in the Tech Services M&A space, especially in the US and India regions, working alongside our strategic partner, William Blair.”

BDA Partners acted as the exclusive financial advisor on this transaction.

The transaction is expected to be completed in the coming months, subject to customary closing conditions and regulatory approvals.

BDA Deal Team
Manoj Balwani, Partner, Head of Technology US & India
Milap Maru, Director, Mumbai
Dhwani Desai, Associate, Mumbai
Jyotin Gagrani, Managing Director, Mumbai
Shubham Verma, Vice President, Mumbai

KidZania Unveils India’s First Toddler Centric Play Zone, KidZania Neighborhood

31st May 2024, Delhi/NCR: KidZania, the global leader in interactive family entertainment and learning, proudly announces the launch of its first-ever toddler-centric play zone, ‘KidZania Neighborhood’, in India. The new zone was unveiled on Thursday, 30th May 2024, at KidZania’s Delhi/NCR center. The zone will be operational from 1st June 2024.

The ‘KidZania Neighborhood’ is a space developed especially for toddlers, featuring paved roads, battery-operated vehicles, buildings, a functioning economy, and its currency, all tailored for toddlers aged 1 to 6 years. This innovative zone aims to provide a unique, immersive environment where young toddlers can learn through role-play and storytelling.

Speaking on the occasion, Mr. Rahul Dhamdhere, Chief Marketing Officer of KidZania India, said, “KidZania is currently present in 27 cities across 24 countries, and we are thrilled to present India’s first, and overall, the twelfth, KidZania Neighborhood to you. Around 60 percent of our visitors are families who seek the best for their toddlers. Over the years, we have learned that parents visiting with toddlers also want to connect with their kids through our unique blend of learning and fun.”

The KidZania Neighborhood includes various engaging and educational activities such as a Science Lab, Play Gym, Construction Site, Gas Ztop, Open Stage, and Face Painting, to name a few. These activities are designed not only for fun but also to improve toddlers’ motor skills, problem-solving abilities, and self-knowledge. Through interactive and hands-on experiences, toddlers can explore their interests and learn about the adult world they will one day join.

The Neighborhood offers a safe, engaging, and skill-building environment that has been extensively researched and influenced by various early childhood development frameworks such as Montessori, Waldorf, Reggio Emilia, and Gymboree Aistear’s early years curriculum. It encourages cognitive development through tasks and challenges, promotes collaboration and communication, and enhances motor skills with hands-on activities. Notable features include the Exploration Lab for science experiments, the Gas Stop for learning driving rules, and the Construction Site for building coordination and strength. The space spans 3,500 sq. ft. with stringent safety measures and hygiene prioritization, ensuring a clean and secure environment for toddlers.

Additionally, hygiene is a top priority in the KidZania Neighborhood. The facility ensures a clean and safe environment through various innovative solutions, including a ball washing machine to sanitize the balls in the Exploration Lab. The entire area is equipped with fire-resistant EPDM flooring, comprehensive CCTV coverage without blind spots, and designated fire exits. These measures provide parents with peace of mind, knowing their toddlers are playing in a secure and hygienic setting.

One signature tie-up is the Play Gym, in partnership with Amiown – Amity’s Caring Preschool. Founded in 2005 and operating in multiple branches across Delhi NCR, all Amiown Preschools ‘built on the foundation of love and care’ are committed to ‘nurturing happy and lifelong learners’ through the play and activity-based approach, experiences, and curriculum. In the Amiown Play Gym, toddlers can play and enjoy a variety of educational games in a soft-play area designed just for them. They can explore gentle obstacles, vibrant colors, and endless fun as they crawl, climb, jump, and learn to balance. Activities in the Amiown Play Gym nurture both fine and gross motor skills, spark cognitive engagement, foster emotional growth, and enhance social confidence and cooperation skills. We invite you to ‘Come play with us!’ says Amiown Chairperson Ms. Sapna Chauhan.

The launch of the KidZania Neighborhood marks a significant milestone in KidZania’s mission to create safe, educational, and enjoyable environments for toddlers and their families. With its focus on early childhood development, the Neighborhood is set to become a favorite destination for families seeking enriching experiences for their young toddlers.

Schneider Electric Inaugurates One of its Largest Employee Campuses in India

Bengaluru, 31st May 2024: Schneider Electric, the global leader in energy management and nextGen automation, today inaugurated one of its largest employee campuses globally, at Bagmane Solarium City, Bengaluru, also known as India’s Silicon Valley. This state-of-the-art campus covers an area of ~ 630,000 sq.ft and features a Global Innovation Hub, Training center, R&D center, Skill center, and Digital Hub with a capacity to accommodate over ~ 8000 professionals.

This new campus reaffirms Schneider Electric’s commitment to be an employer of choice by providing world-class infrastructure for employees to collaborate, develop, and deliver industry-leading solutions for customers. It also reinforces the company’s pledge to “Make in India for India and the world,” showcasing ongoing investments in manufacturing, innovation, people, R&D, and skill building.

Underlining Schneider Electric focus on accelerating its investments in India, Peter Herweck, Chief Executive Officer, Schneider Electric, said, “I am delighted to open one of our largest employee campuses worldwide in India. This new investment underscores our dedication to accelerating our contribution to India’s rapid growth. We strongly believe in its potential as a springboard for innovative ideas benefitting local customers, while making a global impact.”

Commenting on the new campus inauguration, Deepak Sharma, Zone President – Greater India, MD & CEO, Schneider Electric India, said, “Our new employee campus goes beyond being just a workplace. It exemplifies the creation of a dynamic ecosystem aimed at fostering collaboration and igniting creativity across the entire energy sector value chain. Through this campus, we aim to provide an immersive, hands-on learning experience, offering comprehensive insights into energy management and industrial automation. Furthermore, it underlines our commitment to expanding our workforce of over 37,000 in India to drive the development of cutting-edge products and solutions not only for India but also for the global markets”

The Innovation Hub at Bagmane offers an immersive experience that integrates all Schneider Electric offerings to showcase a comprehensive journey, transforming sustainability ambitions into tangible actions at the intersection of automation, electrification, and digitization. This innovative approach underscores Schneider Electric’s commitment to providing a holistic view of its solutions and their impact on driving sustainable practices and outcomes.

The Bagmane Campus Training Center will feature interactive demonstrations, workshops, and expert-led sessions, ensuring that our employees, partners, and customers, gain practical knowledge and expertise in the latest technologies and solutions. It will harness internal expertise to foster a learning culture, offering an advanced learning environment equipped with the latest technologies and infrastructure.

Standing by its commitment towards sustainability, the Schneider Electric Bagmane Bengaluru Campus is designed to prioritize sustainability with off-site green power, energy-efficient chiller systems, and 100% greywater reuse via a sewage treatment plant. The campus has already applied for LEED Gold certification, demonstrating Schneider Electric’s commitment to international sustainability standards. Further, the Schneider Electric interior fit-out works are also striving for LEED – Platinum certification, reflecting the company’s ongoing pursuit of excellence in sustainable building practices.

Honda Motorcycle and Scooter India conducts a successful Road Safety Awareness Campaign in Vadodara, Gujarat

Vadodara, 31st May 2024: Honda Motorcycle and Scooter India reaffirms its dedication to road safety with another impactful awareness campaign in the city of Vadodara. On the grounds of Butler ITI College, HMSI achieved one of its milestones where it saw an active participation of more than 1800 college students and staff members. The road safety campaign featured interactive activities such as a safety riding theory session, danger prediction training, road safety quiz, helmet awareness, and Riding Trainer session that kept the participants engaged throughout the campaign.

HMSI believes that Safety of every individual is a topmost priority. In line with this commitment, HSMI has been actively conducting road safety awareness campaigns across various regions of the country, reaching out to people with vital information and guidance on safe driving practices. Vadodara is the latest stop in this initiative, where HMSI aims to empower the community with essential knowledge and skills to navigate.

HMSI extends its gratitude to the authorities of Butler ITI College, for their support in organizing this important initiative. Together, we can make a significant difference in creating safer road environments and reducing the incidents of accidents and injuries.

Since inception, HMSI has imparted education to nearly 4 lakh adults and children in the state of Gujarat, focusing on promoting responsible road usage and cultivating safe riding habits.

Honda Motorcycle & Scooter India’s CSR Commitment towards Road Safety:

In 2021, Honda globally made a vision statement for the year 2050 where it will strive for zero traffic collision fatalities involving Honda motorcycles and automobiles. In India, HMSI is working in line with this vision and the Government of India’s direction of reducing fatalities to half by 2030.

One critical aspect of achieving this goal is inculcating a positive mindset towards road safety in our children by the year 2030 and continuing to educate them thereafter. Road safety education at schools and colleges is not only to create awareness but to inculcate a safety culture in young minds and turn them into safety ambassadors. It empowers future generations to become responsible and significantly contribute to a safer society.

HMSI wants to be a company that Society wants to exist and is strongly focusing on Road safety awareness to all sections of society with unique ideas catering to each segment from school kids to corporations and society at large.

HMSI’s set of skilled safety instructors conducts daily programs at our 10 adopted traffic training parks (TTP) across India and 6 Safety Driving Education Centers (SDEC) to make road safety education accessible to every part of society, and the initiative has impacted over 5.7 million Indian citizens. HMSI’s National Road Safety Awareness program made learning fun yet scientific through:

SCIENTIFICALLY DEVISED LEARNING MODULE: Honda’s skilled instructors set the foundation with theory sessions on road signs & markings, driver’s duties on the road, riding gear & posture explanation and safe riding etiquette.

1. PRACTICAL LEARNING: A special training activity on Honda’s virtual riding simulator was executed for all to experience over 100 possible dangers on road before actual riding.

2. INTERACTIVE SESSION: Participants were given danger prediction training known as Kiken Yosoku Training (KYT) which helps in enhancing rider/driver’s sensitivity to danger and ensures safe driving behaviour on roads.

3. EXISTING DRIVERS HONING RIDING SKILLS: Students & school staff members who are already existing riders tested & honed their riding skills through slow riding activities and riding on narrow planks.

Mark Montoya Named President of akoyaGO

Minneapolis, MN, May 31, 2024 –akoyaGO, a leading provider of innovative software solutions for community and private foundations, is thrilled to announce the promotion of Mark Montoya to President. With Mark’s rich history of leveraging technology to enhance the philanthropic space, this new role helps him drive significant advancements for greater impact.

Since joining in 2022, Mark Montoya has been a cornerstone of the akoyaGO leadership team. His previous roles at the Community Foundation for Southern Arizona including Chief Operating Officer, Interim President, and Chief Experience Officer gave him valuable industry insights, which he now channels into driving efficient impact through technology and building key relationships with clients at akoyaGO. The journey from Chief Experience Officer to President is a testament to his unwavering integrity, inspiration, and forward-thinking approach to solutions in the philanthropic sector. That focus has directly led to the akoyaGO customer base growing by 80% in two years.

“Mark’s leadership has been instrumental in shaping akoyaGO’s strategic direction and operational excellence,” said John Long, CEO of akoyaGO. “His deep understanding of the nuances and needs of foundations, combined with his vision for technology’s role in this sector, makes him uniquely qualified to lead our company through its next phase of growth.”

During his tenure as Chief Experience Officer, Mark championed a culture of positivity and dedication, earning widespread respect and admiration across the organization, among our clients, and nationally. His ability to translate day-to-day foundation experiences to assist in developing scalable, impactful solutions has been a key factor in akoyaGO’s success, and he plans to continue this approach in his new role.

“Being part of akoyaGO has been an incredibly rewarding experience. It is a privilege to serve a team dedicated to creating, enhancing, and providing modern technology that will continue to expand and innovate, serving the field for years to come,” said Mark Montoya. “As President, I look forward to fostering innovation that meets the evolving challenges of the philanthropic community, helping them achieve their mission with greater efficacy. When I was leading CFSA, we searched for a technology partner to take us to the next level – not just doing the same things a little better. I’m excited to bring that to my colleagues in the foundation space.”

Under Mark’s leadership, akoyaGO is well positioned to redefine what is possible for foundation management software, emphasizing ease-of-use, dynamic solutions that empower foundations to focus on what they do best: making a meaningful difference in the world.

Revolutionizing Real Estate Management Introducing Performance InSite by Geospatial Analytics, Inc

Phoenix, AZ, May 31, 2024 –-Geospatial Analytics, Inc.®, the industry leader for Decision Intelligence Solutions, has made a significant stride in the real estate industry with the launch of Performance InSite™. This capability empowers commercial real estate departments by providing unparalleled control over Key Performance Indicators (KPIs). Let’s break down the key points:

Performance InSite™ aims to revolutionize how organizations measure success and drive results. In an industry where precision, foresight, and adaptability are crucial, the ability to harness and leverage KPIs becomes indispensable. With this new tool, Companies can now easily create, capture the required data, set performance targets, and measure results in one single solution.

Monica Smith, Chief Solutions Officer, emphasized, “Performance InSite™ is a fully integrated end to end solution, from gathering data with a mobile app, to managing your content and then analyzing results with customizable dashboard. This allows real estate and facility management professionals to tailor their specific requirements and service level targets, and view of performance metrics in real time. Organizations can gain access to real-time insights, enabling them to make informed decisions promptly. From service levels measurements to project result scores, the solution provides a comprehensive overview of critical metrics. By identifying trends and mitigating risks, organizations can capitalize on opportunities with precision.”

Beyond operational efficiency, Performance InSite™ fosters a culture of accountability, transparency, and continuous improvement. It aligns individual and team efforts with strategic objectives, propelling organizations toward their goals.

Monica highlights that this new capability empowers professionals to unlock their operations’ full potential. Data-driven insights drive operational efficiency, enhance experiences, and contribute to sustained growth and profitability.

The launch of Performance InSite™ reaffirms Geospatial Analytics’ commitment to empowering organizations in an increasingly competitive marketplace and represents a leap forward in real estate technology, providing tools and insights to thrive in today’s dynamic landscape.

Cosmo Films showcases new and diverse product ranges at Drupa 2024; expanding its distribution network

New Delhi, 31st May 2024: Cosmo Films, a global leader in specialty films is participating at Drupa – World’s largest printing exhibition. Starting from 28th May, and being held in Dusseldorf Germany, Cosmo Films is showcasing a wide and diverse range of products across its verticals at Stand No 3B07.

In recent past, to cater market demand, Cosmo Films has introduced several new products to further expand its diverse product portfolio. Alongside showcasing diverse products from newly launched verticals including Cosmo Plastech (Rigid Plastics), Cosmo Speciality Chemicals (Speciality Chemicals, Adhesives, and Coatings), the key focus products and ranges at Drupa are:

· Thermal Lamination Films (TLF): Compatible with all types of thermal laminating machines available worldwide. The range includes: Printable Polyester Metallized Thermal lamination Films, Holography films, ID lamination, Balloon films, Laminating pouch films, and Digital lamination.

· Cosmo Synthetic Paper (CSP): Alternative to traditional paper in applications and known for its durability and longevity. This can be used for commercial printing, tags & labels, retail & packaging, identification & credentials, and outdoor applications. The ranges are available for both wide and narrow format which are used in several types of industries.

· Cosmo Sunshield: Premium window film suitable for both architectural and automotive applications. Designed to reduce 95% heat effect and save 10% in air-conditioning bills. Safety films to strengthen the glass and protect against shattering and UV ray protection; privacy films offering versatile and stylish way to maintain privacy and aesthetics.

Speaking about the participation, Kulbhushan Malik, Global Business Head, Cosmo Films said, “Drupa as a platform is known for inspiration, innovation, top-class knowledge transfer and a great platform to interact with our global partners and meet potential new customers. This brings to us the synergy between Drupa and Cosmo Films where innovation and R&D is at the core of our business practices. This ensures that our innovative offerings are loved by our customers both in domestic and international markets. We believe that Drupa will serve as a great platform to present these products to international markets. This will also strengthen our distribution network for all these product ranges including our new product launches and products from our new business verticals.

With a strong focus on innovation, quality, and sustainable developments, Cosmo Films today stands as a preferred business partner for leading brands across industries and the globe. Through participation in such platforms, Cosmo Films plans to exchange industry insights, market demands, explore business opportunities and bring out new innovative solutions for the customers.

E-commerce, BFSI & Hospitality drive job surge in 2024 with 31percent increase in demand from employers, reports apna.co

Mumbai, 31st May 2024: With the increasing momentum in the job market driven by economic recovery, the job sector in India has been demonstrating promising signs of growth in the first four months of CY2024. Apna – a leading jobs and professional networking platform witnessed a significant growth in demand for professionals in sectors such as BFSI, e-commerce, and services & hospitality. The company’s latest data analysis reveals a substantial 21%, 17% and 13% increase in the respective industries, with a surge in demand for professionals in the Sales & Business Development, Brand & Marketing, and Customer Support domains. This upsurge is led by industry giants such as Bajaj Finserv, Lenskart, HDFC Insurance, Aditya Birla, etc. The increased demand in these sectors indicates a strengthening economy and increasing opportunities for professionals in 2024 across various industries.

The job market in the southern part of India has shown remarkable growth, i.e. 23%, compared to 18% last year, with cities like Hyderabad, Bengaluru, and Chennai leading the way in total job postings. The surge in demand for professionals in sales & marketing, brand & designing, and front-end roles reflects this upward trend, indicating a robust job economy in the region. Additionally, the adoption of digitalization is becoming increasingly evident in Tier 2 and Tier 3 cities, with cities like Lucknow, Coimbatore, and Gwalior witnessing a surge in job postings. These cities, along with Jaipur and Surat, exemplify the expanding job economy, driven by both enterprises and SMBs, indicating a promising outlook for job seekers across India.

Nirmit Parikh, CEO & Founder of apna.co said, “Cities such as Hyderabad, Bengaluru, and Chennai are at the forefront of the growth in the job landscape. This trend showcases the strength of southern India’s job market and underscores the expanding opportunities fueled by digitalisation. From bustling metropolitan areas to emerging tier 2 and tier 3 cities like Lucknow, Coimbatore, and Gwalior, our platform reflects a dynamic landscape, offering promising prospects for job seekers nationwide.”

Reflecting the surging interest in these domains, apna.co has seen a 21% increase in the number of job applications from freshers and an 18% rise in applications from women compared to the first four months of the previous year. The total number of applications received in the first four months reached approximately 1.7 crore, marking a 15% increase compared to 2023. As the job landscape continues to evolve, apna.co remains dedicated to connecting professionals with relevant opportunities across sectors and regions. By fostering a platform for networking, skill development, and job matching, apna.co aims to empower individuals, supporting their career growth in these in-demand fields.

Arohan Financial Services standalone net profit rises 377.15 percent in Q4 FY 23-24

Kolkata, 31st May 2024 Arohan Financial Services, a leading NBFC MFI, reported a 377.15% rise in net profit to Rs. 103.16 crore in the quarter ended March 2024 as against Rs. 21.62 crore during the previous quarter ended March 2023, backed by a steady rise in business and earnings. The Company saw a 33% growth in its Gross Loan Portfolio, surpassing INR 7,112 Cr with a Net NPA Zero status, showcasing its resilience and strategic initiatives in a challenging economic landscape.

Arohan Financial Services recorded a 38.47% increase in sales, reaching Rs 435.56 crore in Q4 FY2024, up from Rs 314.56 crore in the corresponding quarter of the previous fiscal year. For the full year, net profit rose 343.75% to Rs 313.82 crore in the year ended March 2024 as against Rs 70.72 crore during the previous year ended March 2023. Sales rose 48.78% to Rs 1591.17 crore in the year ended March 2024 as against Rs 1069.45 crore during the previous year ended March 2023.

As of March 31, 2024, Arohan operates in 16 states, having expanded into Gujarat, Uttarakhand, and Haryana, and established a Zonal Office in Bengaluru, Karnataka, marking its entry into southern India. With 9,333 employees, the Company served over 2.4 million customers across 975 branches by the end of the fiscal year.

Arohan’s remarkable achievements in FY 2024 garnered widespread recognition and acclaim, exemplified by a string of prestigious awards and accolades including an upgrade in credit rating to A (Stable Outlook), 3 prestigious “Award of Merits” at SKOCH 2023; Asset AAA IT/Cash management award; ISO 9001 recertification of our Internal Audit unit; ISO 27001 recertification of the IT Security network; Gold standard CPP certification by MFR, and Mr. Manoj Nambiar, our Managing Director, being back on the MFIN board, our SRO as the Vice Chair amongst many others. Notably, the organization’s attainment of the highest-ever score of 92 in the Great Place to Work® Trust Index© Employee Survey underscores its commitment to fostering a positive and empowering work culture. With this, the Company has achieved its position amongst the Top 25 BFSI, India 2024, amongst Top 50 Best Companies India across sectors, and has bagged the recognition of the coveted Best in the Microfinance Industry.

Rapido Partners with Punjab CEO to Offer Free Bike Taxis for 2024 Elections

Chandigarh, 31st May 2024: In a resolute commitment to fortify the nation’s democratic fabric, Rapido, India’s foremost commute app, assumes a pivotal role in national duty with the launch of the “SawaariZimmedariKi” initiative. In collaboration with the Office of the Chief Electoral Officer of Punjab, Rapido sets forth to champion civic engagement during the Indian General Elections 2024. As part of this historic endeavor, Rapido pledges to provide free bike taxi rides to voters across Punjab encompassing major cities such as Ludhiana, Jalandhar, Amritsar, and Patiala on 01st June 2024.

On election day, voters can avail of free rides on the Rapido app using the code ‘VOTE NOW’ and exercise their democratic rights. The initiative aims to facilitate residents’ voting rights and ensure a more inclusive electoral process. This concerted effort aligns with Rapido’s nationwide campaign, deploying over 10 lakh captains across more than 100 cities to provide free rides on election day.

Rapido’s partnership with the Office of Chief Electoral Officer of Punjab reflects its commitment to being a brand that drives positive change for a better society. Rapido’s Co-founder Pavan Guntupalli said, “We are undertaking this initiative to ensure that every voter in Ludhiana, Jalandhar, Amritsar, and Patiala can successfully fulfill their civic duty by casting their votes in the Indian General Election 2024. By offering these free rides, we are facilitating democracy in action. Our Rapido captains in Punjab are more than just drivers; they are ambassadors of civic engagement, enabling greater voter turnout and promoting a more representative electoral system in the world’s largest democracy.”

Rapido’s partnership with the Office of the Chief Electoral Officer of Punjab underscores its commitment to being a brand that drives change for a better society. Through initiatives like this, Rapido continues to demonstrate its dedication to making a meaningful difference in the lives of people across the country. This initiative emphasizes Rapido’s dedication to empowering and encouraging the voter population of Punjab to exercise their democratic right by casting their vote.