CapitalStream Bought Out By India's HCL

More evidence of increasing levels of M&A activity between emerging market buyers and US and European target companies comes with the news that HCL Technologies, one of India's leading global IT Services, has acquired CapitalStream Inc., a Seattle-based banking software provider. The deal was valued at approximately US$40mn in cash and highlights the fact that the population of emerging market (EM) players buying up equity interests - and indeed controlling stakes - in Western companies is not limited to sovereign wealth funds, but is growing at both ends of the

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