Coforge to buy two tech firms; PwC launches accelerator programme; Blackstone eyes mall for $400m

Software services company Coforge has signed a deal to acquire two tech companies in the US and Australia, while PwC has launched its first accelerator programme. Meanwhile, Blackstone is reportedly buying Kolkata’s South City Mall for $400 million.

Coforge to buy tech firms in US, Australia

Noida-based software company Coforge Ltd., formerly known as NIIT Technologies Ltd, has entered into a deal to buy two technology companies in the US and Australia.

The company will buy US-based company Rythmos Inc. in an all-cash deal valued at up to $48.7 million, it said in an exchange filing. Founded in 2007, Rythmos is present in Hyderabad and Coimbatore in India and provides big data, cloud, and enterprise AI/ML solutions.

In a separate deal, Coforge’s Australian subsidiary is set to buy Australian cloud software consultancy provider TMLabs. The acquisition is expected to be completed this month.

PwC accelerator programme to support 15 startups

Consulting and financial advisory services company PwC India has launched its first accelerator programme — Emerging Tech Startup Challenge — aimed at Indian startups in spacetech, artificial Intelligence, data analytics, blockchain, Web3, and spatial reality companies.

PwC will select 15 startups that have already bagged Series A or Series B funding and have at least two to three successful commercial implementations. They can apply within a three-month window between March 5 and May 5. The shortlisted ones will be mentored by PwC. These startups will receive 25 hours of pro-bono consulting services in areas covering tech, market strategy, valuation, funding, and taxation.

Blackstone in talks to buy Kolkata’s South City Mall

Investment management behemoth Blackstone is in advanced stages of closing a deal to buy Kolkata’s South City Mall for around $400 million, according to a Bloomberg report. The deal, if it goes through, will mark the entry of Blackstone into retail malls in Kolkata.

The shopping mall, hailed as the largest in eastern India, is owned by South City Projects (Kolkata) Ltd., which is formed by several real estate developers in the city that include names like Emami Group, Shrachi Group, among others.

Blackstone is in talks with financiers to arrange funds for the transaction. The asset manager, through its entity Nexus Select Trust, has bought several shopping malls in India, including the Select City Walk in Delhi and Vega City Mall in Bengaluru.

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