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Investcorp acquires IDFC’s private equity, realty investment management business

Mumbai: The US-based alternative investment manager InvestcorpNSE 0.00 % has acquired IDFCNSE -1.02 % Group’s private equity and real estate investment management business and plans to incrementally raise $50 million towards IDFC’s existing fourth fund. The incremental capital, along with the uninvested pool in the fourth fund, will be invested in consumption-driven companies in India, a senior company executive said. HDFC chairman Deepak Parekh has joined the global advisory board of Investcorp. “Once the acquisition is complete on January 31, we will use the greenshoe option and raise another $50 million in the fourth fund. This incremental capital,…

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Happiest Minds acquires IoT platform Cupola Technology

Software services firm Happiest Minds Technologies Pvt. Ltd has acquired Internet of Things (IoT) platform Cupola Technology for an undisclosed amount, according to a press statement. “We have found that organisations are rapidly moving from proof of concept to enterprise-wide IoT rollouts. This has brought about the need for a dedicated IoT operations centre with a solution-centric approach,” Sashi Kumar, CEO and managing director of Happiest Minds, said. Bangalore-based Cupola Technology Pvt. Ltd was founded by Ajay Agarwal and Huzefa Saifee in 2011. Agarwal, an alumnus of Indian School of…

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