CtrlS, a tier IV Datacenter startup (based out of Hyd) has announced raising Rs. 2.5 Billion from a consortium of Indian Banks.
CtrlS Data Centers Ltd. is promoted by the Rs. 750 Crore Pioneer Group along with IDBI and Och-Ziff – a global institutional asset management firm.
CtrlS received funding from Allahabad Bank, Indian Overseas Bank, Oriental Bank of Commerce, Andhra Bank, Bank of Baroda, Corporation Bank, Dena Bank, Tamilnad Mercantile Bank and State Bank of Hyderabad. In addition to this the promoters had already raised Rs. 250 Crore of PE funds previously. [more]
Educomp to Acquire Zaptive (StudyPlaces.com)
Educomp has announced that its board will meet Friday to consider buying Zaptive Internet Services Pvt. Ltd.’s (i.e. StudyPlaces). The company has also said that (in a filing to BSE) that it will issue preferential shares worth up to $1.5 million to fund the buy (though that may not mean that $1.5mn is the acquisition offer).
Earlier (Jan, 2008), StudyPlaces raised $3mn from InfoEdge, KPCB and Shepalo Ventures.
Educomp has used the M&A strategy to fuel growth, earlier acquired 50% stake in Eurokids and 51% stake in learning.com.