Acquisitions in Kerala, India

Bain Capital has entered definitive agreements to acquire joint control of Manappuram Finance through affiliates BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, investing approximately INR 4,385 crore for an 18% stake via preferential allotment and warrants. The deal will trigger a mandatory open offer for up to an additional 26% and positions Bain to support Manappuram's next phase of growth across gold loans, microfinance, vehicle and housing finance, while the existing promoters remain invested.

Milestone Technologies, a Silicon Valley-based IT services firm majority owned by The Halifax Group, has acquired Suyati Technologies Pvt Ltd, an India-headquartered IT solutions provider specializing in Microsoft & Cloud technologies, Salesforce, and advanced analytics. The acquisition expands Milestone's applications and digital engineering capabilities and broadens its global delivery footprint.

Funds advised by Apax Partners agreed to invest approximately $450 million to acquire a significant minority stake in IBS Software from Blackstone. The transaction will leave founder V K Mathews as majority shareholder and positions Apax as a strategic partner to help IBS accelerate growth of its cloud-native travel and logistics SaaS platform.