In Brief: CCI to examine impact of Reliance-Future deal on industry

In Brief: CCI to examine impact of Reliance-Future deal on industry
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24 Sep, 2020

The Competition Commission of India (CCI) is reportedly examining the online and offline aspects of the Reliance-Future Group deal to assess the impact on competition in the industry, The Economic Times reported, citing an official in the know. Reliance Retail on Monday sought the antitrust regulator’s approval for its Rs 24,713 crore acquisition of the online and offline businesses of the Future Group, which includes retail, wholesale, logistics, and warehousing operations. 

Read: PE firm Silver Lake to invest $1 bn in Reliance Retail for 1.75% stake

Temasek eyes India investment platform expansion

Singapore state investment company Temasek is looking to expand its investment platform in India, The Economic Times reported, citing senior company officials. The firm also looks double down on its bets in the energy and healthtech segments over the next 12-18 months, it said. Temasek, amid the pandemic, has made follow-on investments in Zomato and UST Global.  

Mphasis inks deal with fintech platform Upswot

Information technology (IT) solutions provider Mphasis has partnered with San Francisco headquartered fintech platform Upswot to offer marketing insights through alternative data for business banking customers. The partnership will focus on creating a joint solution to help US banks increase revenue and provide insight-driven services to small and midsize businesses and mid-market customers, a statement said.  

Read: Mphasis partners with UK firm iMeta to develop AI-based KYC solution

Omidyar launches cybersecurity-focused programme  

Impact investment firm Omidyar Network India said it has launched a programme to identify and back startups, nonprofits and other organisations that can develop scalable solutions to mitigate cybersecurity risks. Dubbed the Digital Society Challenge, the company will accept applications for both tech and non-tech innovations till October 23 for the one-month programme, a statement said.