Business mergers and Acquisition, HCL Technologies - Current Affairs Questions and Answers

1)   Who has been appointed as COO of HCL Technologies in addition to present role on 18th July 2016?

a. C. Vijay Kumar
b. Anant Gupta
c. C. Vijay Gupta
d. Anant Kumar
Answer  Explanation 

ANSWER: C. Vijay Kumar

Amidst concerns of slowing growth, HCL Technologies has appointed C.Vijay Kumar as the COO in addition to role as president of Infrastructure Services which adds to around 40 percent of the revenue of the company.

  • He will report to current CEO Anant Gupta.
  • COO will focus on execution.
  • Gupta was elevated to position of CEO 5 months after being appointed COO of HCL Technologies
  • Indian IT industry is facing a challenge through Brexit

2)   Bengaluru based BPO firm Minacs has been acquired by which NYSE technology company?

a. Syntex
b. Syndex
c. Syncex
d. None of the above
Answer  Explanation 

ANSWER: None of the above

NYSE listed technology firm Synnex Corporation has acquired Bengaluru based BPO firm Minacs for USD 420 million in a deal underlining consolidation in the business process management space.

  • Buyout also showcases the efforts in the BPM sector to gravitate towards higher end services and capabilities like analytics
  • PE firms CX Partners and Capital Square Partners which purchased Minaca from the Aditya Birla Group are exiting the firm.
  • This acquisition is Synnex’s second biggest in India.
  • In 2013, it had acquired BPO firm IBM Daksh for USD 505 million.

3)   Aditya Birla Fashion and Retail has acquired which brand from Diana Retail Pvt Ltd?

a. Forever 21
b. Forever 22
c. Forever 23
d. Forever 24
Answer  Explanation 

ANSWER: Forever 21

Kumar Mangalam Birla led Aditya Birla Fashion and Retail has acquired Indian business of international clothing brand “Forever 21” from Diana Retail Pvt Ltd, the US based company’s local franchise partner for over INR 175 crore or USD 26 million.

  • Transaction involved acquisition of the Forever 21 Undertaking of Diana Retail from July 1 through business transfer agreement and not share transfer.
  • Consideration for acquisition is USD 26 million
  • Forever 21 will form part of the Madura Fashion & Lifestyle division
  • Forever 21 is among the fastest growing fashion retailers in the world with a network of more than 700 stores worldwide.

4)   Which company has merged with rival in home tech support company Geekatoo?

a. HelloTechnologies
b. HelloTech
c. SkyTech
d. MetTech
Answer  Explanation 

ANSWER: HelloTech

Los Angeles-based startup HelloTech and rival in-home tech support company Geekatoo said that they had merged, in a sign of consolidation in the hotly competitive on-demand sector.

  • HelloTech will combine its network of about 150 college students who provide on-demand tech repair to Southern California consumers with Geekatoo's US network of about 5,000 technicians, the companies said in a joint statement.
  • The merger connects HelloTech with Geekatoo's national market and provides Geekatoo with more access to venture capital funding, HelloTech co-founder Richard Wolpert said in an interview.
  • HelloTech, which launched about a year ago, has raised $17 million from investors, while 5-year-old Geekatoo has raised close to $3 million.

5)   Which cloud based telephone company acquired Delhi based Smartwards?

a. Knowlarity Communications
b. Singularity Communications
c. Knowlarity Network
d. Knowledge Communications
Answer  Explanation 

ANSWER: Knowlarity Communications

Cloud telephony company Knowlarity Communications on May 9th 2016 acquired Delhi based Smartwards, a customer engagement platform that simplifies loyalty for local businesses and their consumers

  • As per the statement, Shantanu Mathur and Dhanraj Singh Bisht- co founders of Smartwards will lead the Indian operations for Knowlarity
  • Smartwards started operation in 2013

6)   Girnar Soft has purchased which virtual reality startup?

a. Volob Technologies
b. Solob Technologies
c. Colob Technologies
d. None of the above
Answer  Explanation 

ANSWER: Volob Technologies

GirnarSoft, the parent company of auto classifieds portal, has acquired virtual reality startup Volob Technologies in an all-cash deal, the company announced on May 3rd.

  • This is the eight such transaction entered into by GirnarSoft, which has emerged as one of the most active players in the Indian startup M&A leaderboard over the past 18 months, and comes less than a week after it announced its acquisition of SaaS startup Connecto.
  • Founded in 2010 by Tarun Kumar and Shweta Jain, Volob Technologies provides 3D visualisation solutions to various industries, primarily automotive, according to a company-issued statement.

7)   Which Japanese company has entered into a partnership with Virtusa Corporation, an IT firm?

a. Hitachi
b. Sony
c. Maruti
d. Toshiba
Answer  Explanation 

ANSWER: Hitachi

The partnership is to provide joint services to global clients and the market. Part of the collaboration involves joint provision of value to clients by Hitachi and Virtusa through increase in operational and technology efficiency and enhancing functionality

  • Hitachi provides IT solutions through combination of various products and services internationally.
  • Both firms have been working together since 2015.

8)   Which realty portal has acquired property analysis platform for an undisclosed amount?

a. Magicbricks
b. Raheja
c. DLF
d. None of the above
Answer  Explanation 

ANSWER: Magicbricks

Realty portal Magicbricks has acquired property analysis platform Properji for a non disclosed amount and plants to come up with reports for more than 10,000 projects in 6 metros which will help buyers in making the right decision. Magicbricks dot com has acquired Invact Technologies which runs the realty portal. This marks the first acquisition by Magicbricks dot com.

9)   Which US based subsidiary of Piramal Enterprises has acquired Adaptive Software?

a. Decision Resources Group
b. Daily Resources Group
c. Decision Research Group
d. Decision Research Company
Answer  Explanation 

ANSWER: Decision Resources Group

US based subsidiary of Piramal Enterprises has acquired Adaptive Software for total potential consideration of INR 165 crore. Decision Resources Group, the completely owned subsidiary has made the announcement for the acquisition of assets of Adaptive Software LLC and control and ownership of its subsidiary AdaptiveRx LLC. Amount of USD 7.4 million was paid on closing date. Through this acquisition, DRG will enter healthcare payer ecosystem.

10)   Spice Mobility has acquired how much of a stake in Sunstone Eduveristy Telecom company?

a. 22.54%
b. 22.34%
c. 22.14%
d. 22.04%
Answer  Explanation 

ANSWER: 22.54%

Spice Mobility has acquired 22.54% stake in Sunstone Eduversity Telecom company, a Greater Noida based Sunstone Eduversity Private Limited for an amount which has not been discussed. Spice Digital Limited, a subsidiary of Spice Mobility has made the acquisition for the purpose of engaging in education business.

1 2