Deals Buzz: TA Associates seeks to buy 27% stake in Resonance for Rs400 crore
In other news, SaaS start-up Freshdesk sees strong interest from global investors
New Delhi: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
TA Associates in talks to acquire stake in Resonance
Private equity firm TA Associates Management Lp is in talks to buy a minority stake in Kota-based Resonance Eduventures Ltd, a company that prepares students for admission to engineering and medical colleges, reported Mint. US-based TA Associates plans to buy about 27% in Resonance for ₹ 400 crore. CLSA Capital Partners and India Buildout Fund Investment Management Pvt. Ltd are seeking to sell their combined 27% stake in Resonance to TA Associates after plans for an initial public offering (IPO) were deferred. Read more.
Freshdesk sees interest from global investors
Tiger Global-backed Freshdesk Inc. has been approached by several investors to buy a stake in the firm, reported Mint. Freshdesk, the cloud-based customer support platform that is also backed by Google Capital and Accel Partners, has got an offer from a US-based strategic investor for purchasing a stake at a valuation of more than $500 million. The company could raise up to $100 million and beyond at a very high valuation. Some of the large investors that have held talks with the company include the likes of Singapore government’s investment arm Temasek. Read more.
Purplle to close $6 million series-B round
Purplle, an IvyCap Ventures-backed online marketplace for beauty products and spa and salon services, is closing a Series-B round of around $6 million with participation from JSW Ventures, existing investors and another investor who is likely to join in, reported The Economic Times. The company will use some part of the capital to set up a warehouse in Bengaluru to serve the southern market which makes up 15% of its annual GMV of ₹ 150 crore. Read more.
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