M&A

CyberMedia Acquires Strategic Stake in Computer Shopper

Cyber Media (India) has announced its purchase of 20% stake in Sx2 Media
Labs LLC, a new company formed by David Sills and Stoneybrook Capital, Sx2 Media
Lab recently took over Computer Shopper magazine, a 26 year old print
publication that serves as a monthly guide to new technology and shopping guide
for more than 300 products per issue on information technology and related
items. The transaction is effective immediately. Earlier in February 2006, New
York based Sx2 Media Labs acquired part of CNET's publishing business
portfolio comprising of Computer Shopper, CNET Digital Living, College Buying
Guide, Computershopper.com and custom publishing that together generated
revenues in excess of $19 mn during the fiscal year ended Dec 2004.

The Computer Shopper Magazine, with a circulation in excess
of 450,000, enjoys a strong competitive positioning amongst the top three B2C
computer magazines. Computer Shopper has been ranked number one in the
“Considerable Advertising Interest” study by MRI Fall, 2005.

Pradeep Gupta, chairman and managing director of CyberMedia
said, “CyberMedia's strategic investment in Sx2 Media Labs is aimed at
leveraging its 23 year IT and telecom publishing experience to partner with Sx2
Media Labs in growing Computer Shopper and its allied brands, College Buying
Guide, CNET Digital Living and Computershopper.com, over all types of media
delivery vehicles. We are excited to be part of Sx2 Media Labs journey into the
future with the brand history loaded, Computer Shopper Magazine.”

“We're excited about partnering with CyberMedia, South
Asia's leading specialty media house, in our venture to take Computer Shopper
to the next level,” said Barry Schwimmer, chairman of SX2 Media Labs. “The
Sx2 Media Labs and CyberMedia partnership will create value in infusing new
life-force to Computer Shopper, a magazine that has impressed the market with
its enduring popularity with its readers, thanks to the efforts of its top-notch
editorial staff,” he added.

Wipro buys cMango in all cash deal 

Wipro Ltd has signed a definitive agreement to acquire cMango, a
Sunnyvale, California -headquartered company in an all cash deal.
Wipro said in a statement here that cMango has multiple offices in the US
as well as offices in the UK, Singapore and a delivery center in Pune.

Under the terms of the agreement, the consideration to
acquire 100% stake in privately held cMango includes cash payment of $20 mn on
closure of the transaction as well as earn-outs based on achieving targeted
financial metrics over a two-year period. The acquisition is in line with
Wipro's strategy to invest in areas where it can establish leadership through
differentiated service lines and domain knowledge.

Kanbay to Acquire Adjoined Consulting

Kanbay has announced that it entered into a definitive agreement to acquire
privately-held Adjoined Consulting, a mid-sized provider of strategic and
operational consulting, technology integration and outsourcing services to
Global 2000 clients.  The purchase
price of approximately $165 mn includes the exchange of all outstanding stock of
Adjoined for approximately $95.7 mn in cash and approximately $69.3 mn in Kanbay
common stock.

Aptuit to Acquire InfoPro Solutions

Aptuit, a drug development services provider has announced that it will
acquire InfoPro Solutions, an information technology services company that
delivers application systems to pharmaceutical and biotechnology customers using
cutting-edge Web technologies. The acquisition enables Aptuit to leverage
InfoPro Solutions' expertise to deploy the industry's first global,
multi-customer, multi-site platform to enable clients to track drug development
projects anywhere in the world, in real time. InfoPro Solutions' will provide
the company with an integral and strategic base for its informatics operations.

Logix Shortlists Two US Firms For Buy-out

Logix Microsystems, a provider of enterprise business solutions has
shortlisted two US companies for acquisistion and may conclude a deal sometime
in the first quarter of the next financial year, said the managing director,
Sanjay Soni. The company proposes to raise up to Rs 70 crore through private
placement to fund the acquisitions and also expand its footprint in the US, Soni
added.