Tech News Roundup from India

05:05 | Kamla Bhatt | Feb 1st, 2007 1:36pm |

Tata has finally acquired Anglo-Dutch steelmaker Corus to become the the world’s fifth-largest steel company. In another M&A news, the Hutch Essar deal is now pegged in the neighborhood of $20 billion by the media. Hutch Essar is India’s fourth-largest mobile operator.

Last week, NEA IndoUS Fund was formally launched in Bangalore though the fund size was not disclosed. Vinod Dham had announced that the fund has invested in two companies: Obopay and Minekey.

Google invested an undisclosed amount in SeedFund that is focused on investing in early stage companies.

Global private equity company The Blackstone Group is investing $275 million in Ushaodaya Enterprises Ltd (UEL) a Hyderabad-based media house. Nimbus Communications received $125 million from 3i, Cisco and Oman International Fund. This is probably the last round of investment before the company goes IPO.

Reliance Communications has got the approval of its board to list Flag Telecom on a non-Indian stock exchange. Flag Telecom is in the undersea cable business. Last year Flag Telecom was looking to list on the London Stock Exchange.

The race to make cheap handsets in India has started. Flextronics and Foxconn will be manufacturing low-cost handsets in India for Sony Ericsson.

Maneesh ...