TERM PAPER OF BUSSINESS ENVIRONMENT 1

8/7/2019 TERM PAPER OF BUSSINESS ENVIRONMENT 1

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TERM PAPER

OFBusiness environment

SUBMITTED TO

Bhavdeep singh kochar

SUBMITTED BY

NAME: Abhishek Arora

MBA IST SEM

SEC: RT1001

ROLL NO: A20

REG No: 11000839
http://www.lpu.in/index.php#term


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Topic: Merger and Acquisition In India From Last Five

Years

Merger:-

The combining of two or more companies, generally by offering the

stockholders of one company securities in the acquiring company in

exchange for the surrender of their stock.

ACQUISITION:- A corporate action in which a

company buys most, if not all, of the target company's ownership stakes


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in order to assume control of the target firm. Acquisitions are often made

as part of a company's growth strategy whereby it is more beneficial to

take over an existing firm's operations and niche compared to expanding

on its own. Acquisitions are often paid in cash, the acquiring company's

stock or a combination of both.

MRGER AND ACQUISITION:Mergers and acquisitions (M&A) and corporate restructuring are a big

part of the corporate finance world. Every day, Wall Street investment

bankers arrange M&A transactions, which bring separate companies

together to form larger ones. When they're not creating big companies

from smaller ones, corporate finance deals do the reverse and break u

Not surprisingly, these actions often make the news. Deals can be worth

hundreds of millions, or even billions, of dollars. They can dictate the

fortunes of the companies involved for years to come. For a CEO,

leading an M&A can represent the highlight of a whole career. And it is

no wonder we hear about so many of these transactions; they happen all

the time. Next time you flip open the newspapers business section, odds

are good that at least one headline will announce some kind of M&A

transaction. Sure, M&A deals grab headlines, but what does this all

mean to investors? To answer this question, this tutorial discusses the

forces that drive companies to buy or merge with others, or to split-off or

sell parts of their own businesses. Once you know the different ways in

which these deals are executed, you'll have a better idea of whether you
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should cheer or weep when a company you own buys another company

- or is bought by one. You will also be aware of the tax consequences for

companies and for investors.

Advantages and disadvantages of mergers and acquisitions (M&A) are

determined by the short-term and long-term company strategic outlook

of the new and acquiring companies. This is due to a host of factors

including market conditions, differences in business culture, acquisition

costs and changes to financial strength surrounding the corporate

takeover.

BENEFITS OF MERGER AND ACQUISITION:Benefits of Mergers and Acquisitions are manifold. Mergers and

Acquisitions can generate cost efficiency through economies of scale,

can enhance the revenue through gain in market share and can even

generate gains.The principal benefits from mergers and acquisitions can be listed as

increased value generation, increase in cost efficiency and increase in

market share.

Benefits of Mergers and Acquisitions are the main reasons for which

the companies enter into these deals. Mergers and Acquisitions may

generate tax gains, can increase revenue and can reduce the cost of

capital. The main benefits of Mergers and Acquisitions are the

following:
http://finance.mapsofworld.com/savings/factors/economies-scale.htmlhttp://finance.mapsofworld.com/stock-markethttp://finance.mapsofworld.com/company/http://finance.mapsofworld.com/business-deals/http://finance.mapsofworld.com/corporate-finance/hybrid-financing/cost-capital.htmlhttp://finance.mapsofworld.com/corporate-finance/hybrid-financing/cost-capital.htmlhttp://finance.mapsofworld.com/savings/factors/economies-scale.htmlhttp://finance.mapsofworld.com/stock-markethttp://finance.mapsofworld.com/company/http://finance.mapsofworld.com/business-deals/http://finance.mapsofworld.com/corporate-finance/hybrid-financing/cost-capital.htmlhttp://finance.mapsofworld.com/corporate-finance/hybrid-financing/cost-capital.html


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Greater Value Generation

Mergers and acquisitions often lead to an increased value generation for

the company. It is expected that the shareholder value of a firm after

mergers or acquisitions would be greater than the sum of the shareholder

values of the parent companies. Mergers and acquisitions generally

succeed in generating cost efficiency through the implementation of

economies of scale.

Merger & Acquisition also leads to tax gains and can even lead to a

revenue enhancement through market share gain. Companies go for

Mergers and Acquisition from the idea that, the joint company will be

able to generate more value than the separate firms. When a company

buys out another, it expects that the newly generated shareholder valuewill be higher than the value of the sum of the shares of the two separate

companies.

Mergers and Acquisitions can prove to be really beneficial to the

companies when they are weathering through the tough times. If the

company which is suffering from various problems in the market and isnot able to overcome the difficulties, it can go for an acquisition deal. If

a company, which has a strong market presence, buys out the weak firm,

then a more competitive and cost efficient company can be generated.
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Here, the target company benefits as it gets out of the difficult situation

and after being acquired by the large firm, the joint company

accumulates larger market share. This is because of these benefits that

the small and less powerful firms agree to be acquired by the large firms.

Gaining Cost Efficiency

When two companies come together by merger or acquisition, the joint

company benefits in terms ofcost efficiency. A merger or acquisition is

able to create economies of scale which in turn generates cost efficiency.

As the two firms form a new and bigger company, the production is

done on a much larger scale and when the output production increases,

there are strong chances that the cost of production per unit of output

gets reduced.

An increase in cost efficiency is affected through the procedure of

mergers and acquisitions. This is because mergers and acquisitions lead

to economies of scale. This in turn promotes cost efficiency. As the

parent firms amalgamate to form a bigger new firm the scale of

operations of the new firm increases. As output production rises thereare chances that the cost per unit of production will come down
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Classifications of mergers

Horizontal merger:-

In horizontal merger, the two companies are direct competitors who

represent the same market and also sell the same products/services.

Market-extension merger:-

Here participating companies sell same products in different markets

Product-extension merger:-

In product-extension merger, the participating companies sell different

products of related category.

Mergers and Acquisitions in India

The practice of mergers and acquisitions has attained considerable

significance in the contemporary corporate scenario which is broadly

used for reorganizing the business entities. Indian industries were

exposed to plethora of challenges both nationally and internationally,

since the introduction of Indian economic reform in 1991. The cut-throat

competition in international market compelled the Indian firms to opt for

mergers and acquisitions strategies, making it a vital premeditated

option.


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Why Mergers and Acquisitions in India?The factors responsible for making the merger and acquisition deals

favorable in India are:

Dynamic government policies

Corporate investments in industry

Economic stability

ready to experiment attitude of Indian industrialists

Sectors like pharmaceuticals, IT, ITES, telecommunications, steel,construction, etc, have proved their worth in the international scenario

and the rising participation of Indian firms in signing M&A deals has

further triggered the acquisition activities in India.

In spite of the massive downturn in 2009, the future of M&A deals in

India looks promising. Indian telecom major Bharti Airtel is all set to

merge with its South African counterpart MTN, with a deal worth USD

23 billion. According to the agreement Bharti Airtel would obtain 49%

of stake in MTN and the South African telecom major would acquire

36% of stake in Bharti Airtel.


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Mergers and Acquisitions in different

sectors in India

Sector wise, large volumes of mergers and mergers and

acquisitions in India have occurred in finance, telecom,

FMCG, construction materials, automotives and metals. In

2005 finance topped the list with 20% of total value of

mergers and acquisitions in India taking place in this

sector. Telecom accounted for 16%, while FMCG and

construction materials accounted for 13% and 10%

respectively.

In the banking sector, important mergers and

acquisitions in India in recent years include the merger

between IDBI (Industrial Development bank of India) and

its own subsidiary IDBI Bank. The deal was worth $ 174.6

million (Rs. 7.6 billion in Indian currency). Another

important merger was that betweenCenturion Bank and Bank

of Punjab. Worth $82.1million (Rs. 3.6 billion in Indian

currency), this merger led to the creation of the Centurion

Bank of Punjab with 235 branches in different regions of

India.

In the telecom sector, an increase of stakes by SingTel
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from 26.96 % to 32.8 % in Bharti Telecom was worth

$252 million (Rs. 10.9 billion in Indian currency). In the

Foods and FMCG sector a controlling stake of Shaw

Wallace and Company was acquired by United Breweries

Group owned by Vijay Mallya. This deal was worth $371.6

million (Rs. 16.2 billion in Indian currency). Another

important one in this sector, worth $48.2 million (Rs 2.1

billion in Indian currency) was the acquisition of 90%

stake in Williamson Tea Assam by McLeod Russell India In

construction materials 67 % stake in Ambuja Cement

India Ltd was acquired by Holcim, a Swiss company for

$634.9 million (Rs 27.3 billion in Indian currency).

Mergers and Acquisitions in India in 2007

Some of the important mergers and takeovers in India in 2007 were -

Mahindra and Mahindra acquired 90% stake in the German

company Schoneweiss.

Corus was taken over by Tata

RSM Ambit based at Mumbai was acquired by

PricewaterhouseCoopers.

Vodafone took over Hutchison-Essar in India.
http://finance.mapsofworld.com/company/c/corus-group.htmlhttp://finance.mapsofworld.com/company/c/corus-group.htmlhttp://finance.mapsofworld.com/company/v/vodafone.htmlhttp://finance.mapsofworld.com/company/v/vodafone.htmlhttp://finance.mapsofworld.com/company/c/corus-group.htmlhttp://finance.mapsofworld.com/company/v/vodafone.html


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Ten biggest Mergers and Acquisitions deals in India

Tata Steel acquired 100% stake in Corus Group on January 30, 2007.

It was an all cash deal which cumulatively amounted to $12.2 billion.

Vodafone purchased administering interest of 67%

owned by Hutch-Essar for a total worth of $11.1 billion on February

11, 2007.

India Aluminum and copper giant Hindalco Industries

purchased Canada-based firm Novels Inc in February 2007. The total

worth of the deal was $6-billion.

Indian pharma industry registered its first biggest in 2008 M&A deal

through the acquisition of Japanese pharmaceutical company Daiichi

Sankyo by Indian major Ranbaxy for $4.5 billion.


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The Oil and Natural Gas Corp purchased Imperial Energy Plc in

January 2009. The deal amounted to $2.8 billion and was considered

as one of the biggest takeovers after 96.8% of London based

companies' shareholders acknowledged the buyout proposal.

In November 2008 NTT DoCoMo, the Japan based telecom firm

acquired 26% stake in Tata Teleservices for USD 2.7 billion.

India's financial industry saw the merging of two prominent banks -

HDFC Bank and Centurion Bank of Punjab. The deal took place inFebruary 2008 for $2.4 billion.


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Tata Motors acquired Jaguar and Land Rover brands from Ford Motor

in March 2008. The deal amounted to $2.3 billion.

2009 saw the acquisition Asarco LLC by Sterlite Industries Ltd's for

$1.8 billion making it ninth biggest-ever M&A agreement involving

an Indian company.

In May 2007, Suzlon Energy obtained the Germany-based wind

turbine producer Repower. The 10th largest in India, the M&A deal

amounted to $1.7 billion.

Acquisitions since 2005

Date company Bussiness

January 7,

2005

Systems Research &

DevelopmentIdentity management USA

March 16,

2005Corio Application Services USA

April 29,

2005

Ascential Software

Corporation

Enterprise Information

IntegrationUSA

May 10, 2005 Gluecode Software Application Server USA
http://en.wikipedia.org/wiki/Identity_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Application_Serverhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Identity_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Application_Serverhttp://en.wikipedia.org/wiki/United_States


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June 23, 2005 Meiosys Application ManagementUSA,

FRA

July 25, 2005PureEdge Solutions,

Inc.Electronic Forms CAN

July 27, 2005 Isogon Corporation Asset Management USA

August 2,

2005DWL

Enterprise Information

Integration

USA,

CAN

October 14,

2005

DataPower

Technology, Inc.

Service Oriented

Architecture (SOA)USA

November 1,

2005iPhrase Systems, Inc.

Information management

softwareUSA

November 10,

2005

Network Solutions

Pvt LtdIT Services IND

November 15,

2005Collation, Inc. Network management USA

December 20,

2005Bowstreet, Inc. Portal-based tools USA

January 27,

2006

ARGUS

Semiconductor

Software From

INFICON

Semiconductor

Manufacturing softwareUSA

January 20,

2006

CIMS Lab, Inc.Application

Virtualization

USA

February 8,

2006Viacore, Inc.

Supply chain

optimizationUSA

February 14,

2006Micromuse, Inc. Network management USA
http://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Electronic_documenthttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/DataPowerhttp://en.wikipedia.org/wiki/DataPowerhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/IT_Serviceshttp://en.wikipedia.org/wiki/IT_Serviceshttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Network_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Semiconductorhttp://en.wikipedia.org/wiki/Manufacturinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Application_Virtualizationhttp://en.wikipedia.org/wiki/Application_Virtualizationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Supply_chain_optimizationhttp://en.wikipedia.org/wiki/Supply_chain_optimizationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Network_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Electronic_documenthttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/Enterprise_Information_Integrationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/DataPowerhttp://en.wikipedia.org/wiki/DataPowerhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/IT_Serviceshttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Network_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Semiconductorhttp://en.wikipedia.org/wiki/Manufacturinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Application_Virtualizationhttp://en.wikipedia.org/wiki/Application_Virtualizationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Supply_chain_optimizationhttp://en.wikipedia.org/wiki/Supply_chain_optimizationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Network_managementhttp://en.wikipedia.org/wiki/United_States


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March 16,

2006

Language Analysis

SystemsIdentity management USA

May 2, 2006 BuildForge, Inc. Software Development USA

May 5, 2006 Unicorn Solutions,Inc.

Metadata management USA

June 27, 2006 Rembo Technology Installation Software SUI

August 1,

2006

Webify Solutions,

Inc

Service Oriented

Architecture softwareUSA

September 6,

2006

Global Value

SolutionsIT Services BRA

October 4,

2006

DORANA product

line from Ubiquity

Pty Limited

Asset Management AUS

October 5,

2006MRO Software Asset Management USA

October 12,

2006FileNet Corporation

Content management

softwareUSA

October 20,

2006

Internet Security

Systems (ISS)Information security USA

October 20,

2006

Palisades

Technology PartnersManagement consulting USA

January 22,

2007

Consul Risk

Management, Inc.

Information security NED

February 13,

2007Vallent Corporation

Telecommunications

ManagementUSA

March 1,

2007

Softek Storage

Solutions

Data Mobility USA
http://en.wikipedia.org/wiki/Identity_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Software_Developmenthttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Metadatahttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Installation_(computer_programs)http://en.wikipedia.org/wiki/Switzerlandhttp://en.wikipedia.org/wiki/Service_Oriented_Architecturehttp://en.wikipedia.org/wiki/Service_Oriented_Architecturehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/IT_Serviceshttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/Australiahttp://en.wikipedia.org/wiki/MRO_Softwarehttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/FileNethttp://en.wikipedia.org/wiki/Content_management_softwarehttp://en.wikipedia.org/wiki/Content_management_softwarehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Internet_Security_Systemshttp://en.wikipedia.org/wiki/Internet_Security_Systemshttp://en.wikipedia.org/wiki/Information_securityhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Management_consultinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Information_securityhttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Identity_managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Software_Developmenthttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Metadatahttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Installation_(computer_programs)http://en.wikipedia.org/wiki/Switzerlandhttp://en.wikipedia.org/wiki/Service_Oriented_Architecturehttp://en.wikipedia.org/wiki/Service_Oriented_Architecturehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/IT_Serviceshttp://en.wikipedia.org/wiki/Brazilhttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/Australiahttp://en.wikipedia.org/wiki/MRO_Softwarehttp://en.wikipedia.org/wiki/Asset_Managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/FileNethttp://en.wikipedia.org/wiki/Content_management_softwarehttp://en.wikipedia.org/wiki/Content_management_softwarehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Internet_Security_Systemshttp://en.wikipedia.org/wiki/Internet_Security_Systemshttp://en.wikipedia.org/wiki/Information_securityhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Management_consultinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Information_securityhttp://en.wikipedia.org/wiki/Netherlandshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_States


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Corporation

April 20,

2007Unicible IT Services SWI

July 20, 2007 WatchfireCorporation

Security SoftwareTesting

USA

August 21,

2007WebDialogs

Web conferencing and

communicationsUSA

August 31,

2007

DataMirror

CorporationChange Data Capture CAN

September 10,

2007

Princeton Softech,

Inc.Business Intelligence USA

October 24,

2007NovusCG

Storage Consulting and

Technology ServicesUSA

January 2,

2008XIV Enterprise storage ISR

January 18,

2008AptSoft Corporation Business Intelligence USA

January 29,

2008

Solid Information

TechnologyDatabase Software

USA,

FIN

January 31,

2008Cognos Business Intelligence CAN

January 31,

2008

Arsenal Digital

Solutions

Data backup services USA

February 15,

2008

Net Integration

Technologies Inc.

Business Server

SoftwareCAN

March 11,

2008Encentuate, Inc.

Enterprise Single Sign-

OnUSA
http://en.wikipedia.org/wiki/Switzerlandhttp://en.wikipedia.org/wiki/Software_Testinghttp://en.wikipedia.org/wiki/Software_Testinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/WebDialogshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/DataMirrorhttp://en.wikipedia.org/wiki/DataMirrorhttp://en.wikipedia.org/wiki/Change_Data_Capturehttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/Business_Intelligencehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Enterprise_storagehttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/Business_Intelligencehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/SolidDBhttp://en.wikipedia.org/wiki/SolidDBhttp://en.wikipedia.org/wiki/Database_Softwarehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Finlandhttp://en.wikipedia.org/wiki/Cognoshttp://en.wikipedia.org/wiki/Business_Intelligencehttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/w/index.php?title=Data_backup_services&action=edit&redlink=1http://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Switzerlandhttp://en.wikipedia.org/wiki/Software_Testinghttp://en.wikipedia.org/wiki/Software_Testinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/WebDialogshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/DataMirrorhttp://en.wikipedia.org/wiki/DataMirrorhttp://en.wikipedia.org/wiki/Change_Data_Capturehttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/Business_Intelligencehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Enterprise_storagehttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/Business_Intelligencehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/SolidDBhttp://en.wikipedia.org/wiki/SolidDBhttp://en.wikipedia.org/wiki/Database_Softwarehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Finlandhttp://en.wikipedia.org/wiki/Cognoshttp://en.wikipedia.org/wiki/Business_Intelligencehttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/w/index.php?title=Data_backup_services&action=edit&redlink=1http://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/United_States


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April 3, 2008 Telelogic ABEnterprise software

developmentSWE

April 18,

2008

Diligent

TechnologiesData De-duplication USA

April 21,

2008FilesX

Application Recovery

Software

USA,

ISR

April 29,

2008

InfoDyne

CorporationData Feed Connectors USA

July 2, 2008 Platform SolutionsMainframe, System Z

technologies

USA

July 28, 2008 ILOGBusiness Rules

Management SystemsFRA

November 18,

2008Transitive Virtualization Software USA

January 15,

2009

Outblaze's E-Mail

Service Assets

Online messaging and

collaborationHKG

May 5, 2009 Exeros Assets Data Discovery Software USA

July 28, 2009 SPSS Inc.Statistical analysis

softwareUSA

July 28, 2009 Ounce Labs Source code analysis USA

September 22,

2009RedPill Solutions

Analytics and

OptimisationSingapore

November 30,

2009 Guardium

Database monitoring and

protection

USA,

ISR

December 16,

2009Lombardi

Business Process

ManagementUSA

January 20, National Interest Public sector consulting USA
http://en.wikipedia.org/wiki/Telelogichttp://en.wikipedia.org/wiki/Swedenhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Backuphttp://en.wikipedia.org/wiki/Backuphttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/ILOGhttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Outblazehttp://en.wikipedia.org/wiki/Hong_Konghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/SPSS_Inc.http://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Ounce_Labshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/w/index.php?title=RedPill_Solutions&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=RedPill_Solutions&action=edit&redlink=1http://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Guardium,_an_IBM_Companyhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/Business_Process_Managementhttp://en.wikipedia.org/wiki/Business_Process_Managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Public_sector_consultinghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Telelogichttp://en.wikipedia.org/wiki/Swedenhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Backuphttp://en.wikipedia.org/wiki/Backuphttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/ILOGhttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Outblazehttp://en.wikipedia.org/wiki/Hong_Konghttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/SPSS_Inc.http://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Ounce_Labshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/w/index.php?title=RedPill_Solutions&action=edit&redlink=1http://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Guardium,_an_IBM_Companyhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/Business_Process_Managementhttp://en.wikipedia.org/wiki/Business_Process_Managementhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Public_sector_consultinghttp://en.wikipedia.org/wiki/United_States


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2010Security Company,

LLC

February 3,

2010Initiate Systems Data integrity software USA

February 16,

2010Intelliden Inc.

Network Automation

softwareUSA

May 3, 2010 Cast Iron Systems Cloud Integration USA

May 24, 2010 Sterling CommerceBusiness software

integrationUSA

June 15, 2010 Coremetrics Web Analytics USA

July 1, 2010 BigFix, Inc.Security and IT

automation softwareUSA

July 29, 2010 Storwize Data Compression ISR

August 10,

2010Datacap

Data capture and Content

ManagementUSA

August 13,

2010

Unica CorporationMarketing planning

software

USA

September 15,

2010OpenPages

Integrated risk

management solutionsUSA

September 20,

2010Netezza

Data warehousing and

analyticsUSA

October 13,

2010PSS Systems Legal risk management USA

October 21,

2010Clarity Systems Financial governance CAN

Spinoffs
http://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Sterling_Commercehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Web_analyticshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/BigFixhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/Datacaphttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Unica_Corporationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Netezzahttp://en.wikipedia.org/wiki/Netezzahttp://en.wikipedia.org/wiki/Data_warehousinghttp://en.wikipedia.org/wiki/Analyticshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Clarity_Systems_Ltdhttp://en.wikipedia.org/wiki/Canadahttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Sterling_Commercehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Web_analyticshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/BigFixhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Israelhttp://en.wikipedia.org/wiki/Datacaphttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Unica_Corporationhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Netezzahttp://en.wikipedia.org/wiki/Data_warehousinghttp://en.wikipedia.org/wiki/Analyticshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Clarity_Systems_Ltdhttp://en.wikipedia.org/wiki/Canada


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1934 Dayton Scale Division is sold to the Hobart Manufacturing

Company.

1942 Ticket graph Division is sold to the National Postal Meter

Company.

1958 Time Equipment Division is sold to the Simplex Time

Recorder Company.

1972 SAP, world-leader in collaborative business software,

founded by five former IBM employees (then System Analyse und

Programmentwicklung) 1984 Prodigy, formerly a joint venture with Sears, Roebuck and

Company.

1985 Satellite Business Systems sold to MCI Communications

1988 Copier/Duplicator business, including service and support

contracts, sold to Eastman Kodak. [2][3]

ARDIS mobile packet network, a joint venture with Motorola.

Now Motient.

1991 Lexmark(keyboards, typewriters, and printers). IBM retained

a 10% interest. Lexmark has sold its keyboard and typewriter

businesses.

1991 Kalieda, a joint Multimedia software venture with AppleComputer.

1992 Taligent, a joint software venture with Apple Computer.
http://en.wikipedia.org/w/index.php?title=Hobart_Manufacturing_Company&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Hobart_Manufacturing_Company&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=National_Postal_Meter_Company&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=National_Postal_Meter_Company&action=edit&redlink=1http://en.wikipedia.org/wiki/SimplexGrinnellhttp://en.wikipedia.org/wiki/SimplexGrinnellhttp://en.wikipedia.org/wiki/SAP_AGhttp://en.wikipedia.org/wiki/Prodigy_(ISP)http://en.wikipedia.org/wiki/Sears,_Roebuck_and_Companyhttp://en.wikipedia.org/wiki/Sears,_Roebuck_and_Companyhttp://en.wikipedia.org/wiki/Satellite_Business_Systemshttp://en.wikipedia.org/wiki/MCI_Communicationshttp://en.wikipedia.org/wiki/Eastman_Kodakhttp://www-03.ibm.com/ibm/history/history/year_1988.htmlhttp://query.nytimes.com/gst/fullpage.html?res=940DE0DD1330F933A15753C1A96E948260http://en.wikipedia.org/wiki/Motorolahttp://www.motient.com/http://en.wikipedia.org/wiki/Lexmarkhttp://en.wikipedia.org/w/index.php?title=Kalieda&action=edit&redlink=1http://en.wikipedia.org/wiki/Apple_Computerhttp://en.wikipedia.org/wiki/Apple_Computerhttp://en.wikipedia.org/wiki/Taligenthttp://en.wikipedia.org/wiki/Apple_Computerhttp://en.wikipedia.org/w/index.php?title=Hobart_Manufacturing_Company&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Hobart_Manufacturing_Company&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=National_Postal_Meter_Company&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=National_Postal_Meter_Company&action=edit&redlink=1http://en.wikipedia.org/wiki/SimplexGrinnellhttp://en.wikipedia.org/wiki/SimplexGrinnellhttp://en.wikipedia.org/wiki/SAP_AGhttp://en.wikipedia.org/wiki/Prodigy_(ISP)http://en.wikipedia.org/wiki/Sears,_Roebuck_and_Companyhttp://en.wikipedia.org/wiki/Sears,_Roebuck_and_Companyhttp://en.wikipedia.org/wiki/Satellite_Business_Systemshttp://en.wikipedia.org/wiki/MCI_Communicationshttp://en.wikipedia.org/wiki/Eastman_Kodakhttp://www-03.ibm.com/ibm/history/history/year_1988.htmlhttp://query.nytimes.com/gst/fullpage.html?res=940DE0DD1330F933A15753C1A96E948260http://en.wikipedia.org/wiki/Motorolahttp://www.motient.com/http://en.wikipedia.org/wiki/Lexmarkhttp://en.wikipedia.org/w/index.php?title=Kalieda&action=edit&redlink=1http://en.wikipedia.org/wiki/Apple_Computerhttp://en.wikipedia.org/wiki/Apple_Computerhttp://en.wikipedia.org/wiki/Taligenthttp://en.wikipedia.org/wiki/Apple_Computer


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1992 IBM Commercial Multimedia Technologies Group, spun off

to form private company Fairway Technologies.

1992 IBM sells its remaining 50 percent stake in the Rolm

Company to Siemens A.G. of Germany.[103]

1994 Xyratex enterprise data storage subsystems and network

technology, formed in a management buy-out from IBM.

1995 Advantis (Advanced Value-Added Networking Technology

of IBM & Sears), a voice and data network company. Joint

Venture with IBM holding 70%, Sears holding 30%. AT&Tacquires the infrastructure portion of Advantis in 1999, becoming

the AT&T Global Network. IBM retained business and strategic

outsourcing portions of the joint venture.

1994 Federal Systems Division sold to Loral becoming Loral

Federal Systems. The Federal Systems Division performed work

for NASA. Loral was later acquired by Lockheed Martin.

1996 Celestica, Electronic Manufacturing Services (EMS).

1998 IBM Global Networksold to AT&T to form AT&T Business

Internet.

1999 Dominion Semiconductor(DSC) IBM sells its 50% share to

JV partnerToshiba. DSC becomes a wholly-owned subsidiary ofToshiba.

2001 Information Services Extended department, developer of

specialized databases and software for telephone directory
http://en.wikipedia.org/wiki/Siemens_A.G.http://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_IBM#cite_note-102http://www.xyratex.com/http://en.wikipedia.org/w/index.php?title=Advantis&action=edit&redlink=1http://en.wikipedia.org/wiki/Loralhttp://en.wikipedia.org/wiki/Lockheed_Martinhttp://en.wikipedia.org/wiki/Celesticahttp://en.wikipedia.org/w/index.php?title=IBM_Global_Network&action=edit&redlink=1http://en.wikipedia.org/wiki/AT%26Thttp://en.wikipedia.org/wiki/AT%26T_Business_Internethttp://en.wikipedia.org/wiki/AT%26T_Business_Internethttp://en.wikipedia.org/w/index.php?title=Dominion_Semiconductor&action=edit&redlink=1http://en.wikipedia.org/wiki/Toshibahttp://en.wikipedia.org/wiki/Siemens_A.G.http://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_IBM#cite_note-102http://www.xyratex.com/http://en.wikipedia.org/w/index.php?title=Advantis&action=edit&redlink=1http://en.wikipedia.org/wiki/Loralhttp://en.wikipedia.org/wiki/Lockheed_Martinhttp://en.wikipedia.org/wiki/Celesticahttp://en.wikipedia.org/w/index.php?title=IBM_Global_Network&action=edit&redlink=1http://en.wikipedia.org/wiki/AT%26Thttp://en.wikipedia.org/wiki/AT%26T_Business_Internethttp://en.wikipedia.org/wiki/AT%26T_Business_Internethttp://en.wikipedia.org/w/index.php?title=Dominion_Semiconductor&action=edit&redlink=1http://en.wikipedia.org/wiki/Toshiba


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assistance, is spun off to form privately-held company ISx, Inc

(later sold to Local Matters).

December 31, 2002 IBM sells its HDD business to Hitachi Global

Storage Technologies for approximately $2 billion. Hitachi Global

Storage Technologies now provides many of the hardware storage

devices formerly provided by IBM, including IBM Hard drives &

The Micro drive. IBM continues to develop storage systems,

including tape backup, storage software and enterprise storage.

December 2004 Lenovo Group acquires 90% interest in IBMPersonal Systems Group, 10,000 employees and $9 billion in

revenue.

April 3, 2006 Web analytics provider Coremetrics acquires Surf

Aid Analytics, a standalone division of IBM Global Services. The

deal was said to be in the "eight-figure" range, making it worth at

least $10 million.

January 25, 2007 three-year joint venture with IBM Printing

Systems division and Ricoh to form new Ricoh-owned subsidiary,

Info Print Solutions Company, for $725 million.

September 2009 IBM launches online business IT video advice

service in association with Guru Online.
http://www.localmatters.com/http://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Microdrivehttp://en.wikipedia.org/wiki/Tape_Drivehttp://en.wikipedia.org/wiki/Enterprise_storagehttp://en.wikipedia.org/wiki/Lenovo_Grouphttp://en.wikipedia.org/w/index.php?title=IBM_Personal_Systems_Group&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=IBM_Personal_Systems_Group&action=edit&redlink=1http://en.wikipedia.org/wiki/Ricohhttp://en.wikipedia.org/w/index.php?title=InfoPrint_Solutions_Company&action=edit&redlink=1http://www.guruonline.tv/ithttp://www.localmatters.com/http://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Global_Storage_Technologieshttp://en.wikipedia.org/wiki/Hitachi_Microdrivehttp://en.wikipedia.org/wiki/Tape_Drivehttp://en.wikipedia.org/wiki/Enterprise_storagehttp://en.wikipedia.org/wiki/Lenovo_Grouphttp://en.wikipedia.org/w/index.php?title=IBM_Personal_Systems_Group&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=IBM_Personal_Systems_Group&action=edit&redlink=1http://en.wikipedia.org/wiki/Ricohhttp://en.wikipedia.org/w/index.php?title=InfoPrint_Solutions_Company&action=edit&redlink=1http://www.guruonline.tv/it


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BIBLOGRAPHY

http://www.economywatch.com/mergers-acquisitions/

http://www.investopedia.com/university/mergers/

http://www.scribd.com/doc/19421359/Merger-and-Acquisition-in-India

http://finance.mapsofworld.com/merger-acquisition/india.html
http://www.economywatch.com/mergers-acquisitions/http://www.investopedia.com/university/mergers/http://www.scribd.com/doc/19421359/Merger-and-Acquisition-in-Indiahttp://www.economywatch.com/mergers-acquisitions/http://www.investopedia.com/university/mergers/http://www.scribd.com/doc/19421359/Merger-and-Acquisition-in-India

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