Buzz from Deal Street

Reliance Big Entertainment announced that it has acquired a majority stake in US based Willow TV. In a statement the company mentioned that Willow TV is the world's largest portal for live internet streaming of all major cricket events from across the world. Willow TV, headquartered in Sunnyvale, CA, is a pioneer in live streaming of major international cricket, a global sport very popular with most South Asians, Australians, South Africans and English Cricket fans. It already has more than a million registered users worldwide, predominantly in the US, Canada, Australia and Europe.

Gammon India announced that its offshore step-down subsidiary has acquired a 50% stake in Sofinter SpA. Sofinter has its registered office at Corso Italia 6, Milan, Italy, which is the holding company of Ansaldo Caldaie SpA, Italy, and it is engaged in the manufacture of super critical boilers for power utilities. Though Gammon did not disclose the deal size, a business daily reported that it was around US $70mn.

Educomp Solutions said that it has entered into a 50-50 strategic partnership with EuroKids International Pvt. Ltd. (EIPL). The agreement includes the purchase of existing company shares as well as an infusion of additional capital into EuroKids for future expansion, Educomp said. The agreement also has a provision for the company to increase its stake in EIPL in stages to 74% over a period of time, Educomp said.

Infotech Enterprises said that its subsidiary will acquire California-based Time To Market Inc., which provides design services. Separately, Infotech Enterprises will also acquire TTM India Pvt. Ltd. Infotech Enterprises has recently set up a marketing and liaison office in Japan. On August 21, the company had said that it will commence full fledged operations in Japan shortly. Last month, the company also signed a contract with IHS Inc., marking its entry into the oil and gas industry. That contract is for an initial period of three years.