Latest news with #jointventure
Reuters
a day ago
- Business
- Reuters
Schneider Electric to take full ownership of India unit for $6.4 billion
July 30 (Reuters) - French electrical equipment maker Schneider Electric ( opens new tab said on Wednesday that it has agreed to buy Temasek's 35% stake in its Indian joint venture for 5.5 billion euros ($6.4 billion) in cash. Schneider, which is a major supplier of electrical equipment and other infrastructure for data centres, said full ownership of Schneider Electric India will help to quicken decision-making in its third-largest market. "This transaction represents the logical next step in Schneider Electric's strategic investment focus on India as both an attractive domestic growth market and one of the key hubs in its multi-hub strategy," it said in a statement. The company has sharpened its focus on India in recent years. The country is one of its four global hubs, with 31 factories there and as many distribution centres. Schneider bought 65% of the business in 2020 from Indian infrastructure firm L&T ( opens new tab, marking its largest acquisition in India. The company plans to expand its capacity in India by 2.5 to 3 times. It added that it expects double-digit organic sales growth on a compound annual rate basis (CAGR) for the unit in the coming years. Total sales in India reached 2.5 billion euros across its subsidiaries in 2024, accounting for around 7% of group revenues. ($1 = 0.8663 euros)
Yahoo
2 days ago
- Business
- Yahoo
Ericsson announces completion of Aduna transaction
Aduna now a 50:50 joint venture: 50 percent owned by Ericsson and 50 percent owned by twelve communications service providers (CSPs) Aduna has been operational since its formation announcement on September 11, 2024 Aduna ecosystem comprises CSP, major developer platform companies, global system integrators (GSI), communication platform as a service (CPaaS) companies, and independent software vendor (ISV) partners STOCKHOLM, July 29, 2025 /PRNewswire/ -- Today, Ericsson (NASDAQ: ERIC) announces the completion of the equity investments by twelve global communication service providers (CSPs) into its subsidiary Aduna, formally establishing Aduna as a 50:50 joint venture. Aduna was created to combine and sell aggregated network Application Programming Interfaces (APIs) globally. It has been operational since the deal signed on 11 September 2024. Aduna is now owned by AT&T, Bharti Airtel, Deutsche Telekom, Ericsson, KDDI, Orange, Reliance Jio, Singtel, Telefonica, Telstra, T-Mobile, Verizon and Vodafone. In addition to funding and commercial agreements, the shareholders bring to Aduna a wealth of support in the industry, including through telecom operator relationships, knowledge of the developer community, and expertise in network APIs. Ericsson also contributed its global network platform, on which Aduna will build and refine its offering. Ericsson holds 50 percent of the venture equity, with the remaining 50 percent held by the above-named CSPs combined. Aduna CEO, Anthony Bartolo, says: "The closing of the transaction is another important step for Aduna. In just ten months we have built an impressive ecosystem comprising the biggest names in telecoms and the wider ICT industry. The closing provides renewed motivation for Aduna to accelerate the adoption of network APIs by developers on a global scale. This includes encouraging more telecom operators to join the new company, further driving the industry and developer experience." In addition to the founding venture partners, the rapidly-expanding Aduna ecosystem includes a diverse range of technology and collaboration partnerships. These span additional CSPs worldwide, as well as major developer platform companies, global system integration (GSI) companies, communication platform-as-a-service (CPaaS) companies, and independent software vendor (ISV) companies. To date these include: e&, Bouygues Telecom, Free, CelcomDigi, Softbank, NTT DOCOMO, Google Cloud, Vonage, Sinch, Infobip, Enstream, Bridge Alliance, Syniverse, JT Global, Microsoft, Wipro and Tech Mahindra - each playing a vital role in advancing the reach and impact of network APIs worldwide. NOTES TO EDITORS: Aduna Aduna Newsroom Media queries: Related press release: Global telecom leaders join forces to redefine the industry with network APIs FOLLOW US: Subscribe to Ericsson press releasesSubscribe to Ericsson blog postshttps:// MORE INFORMATION AT: Ericsson (+46 10 719 69 92) (+46 10 719 00 00) ABOUT ADUNA: Aduna is a landmark venture between some of the world's leading telecom operators and Ericsson, dedicated to enabling developers worldwide to accelerate innovation by leveraging networks to their full potential via common network Application Programming Interfaces (APIs). Its venture partners include: AT&T, Bharti Airtel, Deutsche Telekom, KDDI, Orange, Reliance Jio, Singtel, Telefonica, Telstra, T-Mobile, Verizon and Vodafone. By combining network APIs from multiple operators globally under a unified platform based on the CAMARA open-source project, driven by the GSMA and the Linux Foundation, Aduna provides a standardized platform to foster collaboration, enhance user experiences, and drive industry growth. To find out more about Aduna, visit ABOUT ERICSSON: Ericsson's high-performing networks provide connectivity for billions of people every day. For nearly 150 years, we've been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. This information was brought to you by Cision The following files are available for download: PDF Ericsson announces completion of Aduna transaction View original content: SOURCE Ericsson Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
America Movil restructures Chile business after Liberty Latin America buy-out
MEXICO CITY, July 28 (Reuters) - Mexican telecommunications giant America Movil ( opens new tab will overhaul its operations in Chile, it said on Monday, after it took full control of the unit in a share purchase from Liberty Latin America (LILA.O), opens new tab. America Movil and Liberty Latin America announced in 2021 they were launching the Chilean joint venture, combining America Movil's Claro Chile and Liberty's VTR to form ClaroVTR. America Movil took a 91% stake in the firm last year. It now holds total control in ClaroVTR after exercising a call option on the remaining shares, America Movil said in a filing.
Yahoo
3 days ago
- Business
- Yahoo
America Movil restructures Chile business after Liberty Latin America buy-out
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil will overhaul its operations in Chile, it said on Monday, after it took full control of the unit in a share purchase from Liberty Latin America. America Movil and Liberty Latin America announced in 2021 they were launching the Chilean joint venture, combining America Movil's Claro Chile and Liberty's VTR to form ClaroVTR. America Movil took a 91% stake in the firm last year. It now holds total control in ClaroVTR after exercising a call option on the remaining shares, America Movil said in a filing. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
Iberdrola, Echelon Form JV to Develop Data Centers in Spain
Spanish power giant Iberdrola SA is forming a joint venture with Echelon Data Centres to build and operate data centers in Spain, gaining a foothold in the capital-intensive and energy-hungry sector in its home market. Echelon — backed by US private equity firm Starwood Capital Group LLC — will own 80% of the new company, while Iberdrola's CPD4Green unit will hold the rest, according to an emailed statement Monday. Iberdrola will guarantee a constant supply of electricity to the new facilities and pinpoint land already connected to the power grid where centers can be built. The statement confirmed an earlier Bloomberg report.
