In its first silicon design acquisition in India, tech consulting giant Accenture has purchased Bengaluru-based Excelmax technologies.

Financial terms were not disclosed yet.

But this acquisition bolsters Accenture’s silicon design and engineering capabilities, with Excelmax providing custom silicon solutions for consumer devices, data centres, artificial intelligence (AI), and edge AI deployments, serving the automotive, telecommunications, and high-tech sectors.

The deal brings Excelmax’s 450-strong engineering team into Accenture's fold and puts a spotlight on India's becoming a key player in chip design.

Founded in 2019, Excelmax offers comprehensive semiconductor solutions, from high-level design to detailed physical layout and full turnkey execution.

Accenture noted the need for advanced chips due to emerging technologies like generative AI and connected products.

Excelmax's expertise will enhance Accenture’s capabilities across the silicon design and development spectrum.

The semiconductor market is booming due to rising AI and edge computing demands, driven by consumer electronics growth.

Accenture’s inorganic growth strategy is evident, having acquired 35 companies for 5.2 billion dollars in FY24.

This acquisition aligns with trends in the engineering design space, which has seen significant M&amp;A activity.

In its first silicon design acquisition in India, tech consulting giant Accenture has purchased Bengaluru-based Excelmax technologies. Financial terms were not disclosed yet.

In its first silicon design acquisition in India, tech consulting giant Accenture has purchased Bengaluru-based Excelmax technologies. Financial terms were not disclosed yet. But this acquisition bolsters Accenture’s silicon design and engineering capabilities, with Excelmax providing custom silicon solutions for consumer devices, data centres, artificial intelligence (AI), and edge AI deployments, serving the automotive, telecommunications, and high-tech sectors. The deal brings Excelmax’s 450-strong engineering team into Accenture's fold and puts a spotlight on India's becoming a key player in chip design. Founded in 2019, Excelmax offers comprehensive semiconductor solutions, from high-level design to detailed physical layout and full turnkey execution. Accenture noted the need for advanced chips due to emerging technologies like generative AI and connected products. Excelmax's expertise will enhance Accenture’s capabilities across the silicon design and development spectrum. The semiconductor market is booming due to rising AI and edge computing demands, driven by consumer electronics growth. Accenture’s inorganic growth strategy is evident, having acquired 35 companies for 5.2 billion dollars in FY24. This acquisition aligns with trends in the engineering design space, which has seen significant M&A activity.

Accenture acquires Excelmax to boost silicon design capabilities in India

Swiss banking powerhouse UBS is eyeing potential merger and acquisition opportunities in the United States in the coming years, according to remarks made by its chairman to the NZZ newspaper on Sunday.

Colm Kelleher stated that UBS, having recently absorbed former rival Credit Suisse, aims to bolster its US wealth-management arm through strategic M&amp;A endeavors within the next three to four years.

Kelleher emphasised that such expansion plans are targeted specifically within the realm of wealth management.

The decision to focus on wealth management comes amidst scrutiny over UBS's substantial balance sheet, which now surpasses $1.6 trillion—nearly double the size of the Swiss economy.

This notable increase in scale has prompted regulatory concerns in Switzerland regarding the oversight of systemically important banks.

Despite calls for UBS to adhere to higher capital requirements in light of its size, Kelleher expressed reservations, suggesting that excessive capitalisation could negatively impact shareholders and customers alike by increasing banking costs.

Following the merger with Credit Suisse, UBS witnessed the return of former CEO Sergio Ermotti for a second stint at the helm.

Kelleher hailed Ermotti as the ideal candidate for the "Herculean task" of integrating Credit Suisse into UBS's operations.

Furthermore, Kelleher indicated a preference for Ermotti's successor to be selected from within UBS, underlining a commitment to internal talent and continuity within the organisation's leadership.

UBS's strategic outlook reflects a proactive approach to navigating the evolving landscape of global banking, particularly in the United States.

With a focus on expanding its wealth-management business and leveraging synergies from the Credit Suisse merger, the bank aims to reinforce its position as a major player in the competitive US financial market.

(With inputs from Reuters)

Swiss banking powerhouse UBS is eyeing potential merger and acquisition opportunities in the United States in the coming years, according to remarks made by its chairman to the NZZ newspaper on Sunday.

Swiss banking powerhouse UBS is eyeing potential merger and acquisition opportunities in the United States in the coming years, according to remarks made by its chairman to the NZZ newspaper on Sunday. Colm Kelleher stated that UBS, having recently absorbed former rival Credit Suisse, aims to bolster its US wealth-management arm through strategic M&A endeavors within the next three to four years. Kelleher emphasised that such expansion plans are targeted specifically within the realm of wealth management. The decision to focus on wealth management comes amidst scrutiny over UBS's substantial balance sheet, which now surpasses $1.6 trillion—nearly double the size of the Swiss economy. This notable increase in scale has prompted regulatory concerns in Switzerland regarding the oversight of systemically important banks. Despite calls for UBS to adhere to higher capital requirements in light of its size, Kelleher expressed reservations, suggesting that excessive capitalisation could negatively impact shareholders and customers alike by increasing banking costs. Following the merger with Credit Suisse, UBS witnessed the return of former CEO Sergio Ermotti for a second stint at the helm. Kelleher hailed Ermotti as the ideal candidate for the "Herculean task" of integrating Credit Suisse into UBS's operations. Furthermore, Kelleher indicated a preference for Ermotti's successor to be selected from within UBS, underlining a commitment to internal talent and continuity within the organisation's leadership. UBS's strategic outlook reflects a proactive approach to navigating the evolving landscape of global banking, particularly in the United States. With a focus on expanding its wealth-management business and leveraging synergies from the Credit Suisse merger, the bank aims to reinforce its position as a major player in the competitive US financial market. (With inputs from Reuters)

UBS eyes US expansion through wealth management M&A

A Japanese millennial who uses AI to help solve a problem in an ageing society has made it big.

M&amp;A Research Institute, a company that matches Japanese business owners with successors using AI, has more than tripled its opening price since its debut on the Tokyo Stock Exchange in June 2022.

This year alone, the stock has risen 47 per cent. &nbsp;

According to the Bloomberg Billionaires Index, Shunsaku Sagami, a 32-year-old entrepreneur with a 72 per cent&nbsp;stake in the company, is worth $950 million as of May 16.

M&amp;A Research Institute, founded in 2018, aims to assist ageing owners of small and medium-sized enterprises who are forced to close their doors because no one is available to take over. In April, the business stated that 620,000 profitable enterprises in Japan face collapse owing to a shortage of successors.

In a recent interview, Sagami told Bloomberg that he was inspired to launch this firm by his grandpa, who was forced to close his real estate office in the 1980s after he retired due to a lack of a successor, reported the Business Insider.&nbsp;

"In his office, there was a license for real estate agents framed up on the wall," Sagami told Bloomberg. "Seeing that taken down and thrown away was sad," he added.&nbsp;

ALSO WATCH | 'AI to impact all sectors in India,' says Prof B Ravindran in conversation with WION

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M&amp;A Research Institute, which employs around 160 workers, focuses on firms with yearly revenues of up to 500 million Japanese yen, or $3.7 million.&nbsp;

According to its website, the business can conclude M&amp;A agreements in 49 days to six months using AI and proprietary data. As per&nbsp;the Tokyo-based company, these transactions often take more than a year from request to completion.

Until a transaction is completed, M&amp;A Research Institute does not charge any fees. It charges fees of up to 5 per cent&nbsp;for a successful closing.

Other M&amp;A consultants charge retainer fees in the tens of millions of yen — even if the deal never closes, according to M&amp;A Research Institute's website.

The company claimed it concluded 62 agreements in the six months to March 2023, more than double the 26 it closed in the same time last year.

The M&amp;A brokerage is not Sagami's first enterprise. According to Bloomberg, he graduated from Kobe University with degrees in biology and agriculture and worked as a designer, software developer, and marketing officer before striking out on his own.

In 2017, he sold Alpaca, a women's fashion and beauty brand he started, to a Japanese public relations firm.

As reported by Bloomberg, Sagami found the deal process sluggish, so he built up a system with an AI algorithm to ease the flow of the company.&nbsp;

On Tuesday, M&amp;A Research Institute's stock closed&nbsp;0.4 per cent&nbsp;lower at 9,270 Japanese yen.

WATCH WION LIVE HERE:

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A Japanese millennial who uses AI to help solve a problem in an ageing society has made it big. M&A Research Institute, a company that matches Japanese business owners with successors using AI, has more than tripled its opening price since its debut on the Tokyo Stock Exchange in June 2022.

A Japanese millennial who uses AI to help solve a problem in an ageing society has made it big. M&A Research Institute, a company that matches Japanese business owners with successors using AI, has more than tripled its opening price since its debut on the Tokyo Stock Exchange in June 2022. This year alone, the stock has risen 47 per cent. According to the Bloomberg Billionaires Index, Shunsaku Sagami, a 32-year-old entrepreneur with a 72 per cent stake in the company, is worth $950 million as of May 16. M&A Research Institute, founded in 2018, aims to assist ageing owners of small and medium-sized enterprises who are forced to close their doors because no one is available to take over. In April, the business stated that 620,000 profitable enterprises in Japan face collapse owing to a shortage of successors. In a recent interview, Sagami told Bloomberg that he was inspired to launch this firm by his grandpa, who was forced to close his real estate office in the 1980s after he retired due to a lack of a successor, reported the Business Insider. "In his office, there was a license for real estate agents framed up on the wall," Sagami told Bloomberg. "Seeing that taken down and thrown away was sad," he added. ALSO WATCH | 'AI to impact all sectors in India,' says Prof B Ravindran in conversation with WION M&A Research Institute, which employs around 160 workers, focuses on firms with yearly revenues of up to 500 million Japanese yen, or $3.7 million. According to its website, the business can conclude M&A agreements in 49 days to six months using AI and proprietary data. As per the Tokyo-based company, these transactions often take more than a year from request to completion. Until a transaction is completed, M&A Research Institute does not charge any fees. It charges fees of up to 5 per cent for a successful closing. Other M&A consultants charge retainer fees in the tens of millions of yen — even if the deal never closes, according to M&A Research Institute's website. The company claimed it concluded 62 agreements in the six months to March 2023, more than double the 26 it closed in the same time last year. The M&A brokerage is not Sagami's first enterprise. According to Bloomberg, he graduated from Kobe University with degrees in biology and agriculture and worked as a designer, software developer, and marketing officer before striking out on his own. In 2017, he sold Alpaca, a women's fashion and beauty brand he started, to a Japanese public relations firm. As reported by Bloomberg, Sagami found the deal process sluggish, so he built up a system with an AI algorithm to ease the flow of the company. On Tuesday, M&A Research Institute's stock closed 0.4 per cent lower at 9,270 Japanese yen. WATCH WION LIVE HERE:

AI helped this Japanese CEO's firm soar nearly 50%. Know how

HDFC Bank, India's largest private lender, is buying its largest shareholder in a $40 billion deal, the country's largest ever, to create a financial services behemoth that can better meet surging credit demand.

HDFC Bank's collaboration with housing finance giant HDFC Ltd, which controls around 21% of the lender, will boost the bank's 68 million customers and dramatically extend its home loan portfolio, while also allowing for larger loans.

It will also help HDFC Bank close the gap with the state-run lender and bigger rival State Bank of India, while increasing competition in the home credit market as the pandemic's effects fade.&nbsp;

Several observers say that the merger's timing caught everyone off guard, and that it is a win-win situation for all parties.&nbsp;

"Clients will gain the most from the synergy created by the combination of HDFC Limited and HDFC Bank Limited, whether they are bank account holders, mortgage customers, or insurance customers," In an interview with Zee Media, Vibha Padalkar, Managing Director and Chief Executive Officer of HDFC Life, said.

In terms of total assets, the merger, which is anticipated to be completed in 18 months, would dramatically increase the bank's advantage over rival private sector peers ICICI Bank Ltd. and Axis Bank Ltd.

According to data as of December 31, the amalgamated HDFC Bank will have a loan book of Rs 17.9 trillion, far ahead of ICICI Bank's Rs 8.14 trillion and Axis Bank's Rs 6.65 trillion.

At the end of December, India's largest lender, State Bank of India (SBI), had total loans of Rs 26.64 trillion.&nbsp;

The merger comes as the Reserve Bank of India (RBI) continues to tighten non-bank lending regulations in order to bring them up to par with banks, leaving giant shadow banks with little incentive to operate independently.

In the midst of a surge in demand for house loans, the combined firm will benefit from adding a huge portfolio of mortgages.&nbsp;

(With inputs from agencies)

HDFC Bank, India's largest private lender, is buying its largest shareholder in a $40 billion deal, the country's largest ever, to create a financial services behemoth that can better meet surging credit demand.

HDFC Bank, India's largest private lender, is buying its largest shareholder in a $40 billion deal, the country's largest ever, to create a financial services behemoth that can better meet surging credit demand. HDFC Bank's collaboration with housing finance giant HDFC Ltd, which controls around 21% of the lender, will boost the bank's 68 million customers and dramatically extend its home loan portfolio, while also allowing for larger loans. It will also help HDFC Bank close the gap with the state-run lender and bigger rival State Bank of India, while increasing competition in the home credit market as the pandemic's effects fade. Several observers say that the merger's timing caught everyone off guard, and that it is a win-win situation for all parties. "Clients will gain the most from the synergy created by the combination of HDFC Limited and HDFC Bank Limited, whether they are bank account holders, mortgage customers, or insurance customers," In an interview with Zee Media, Vibha Padalkar, Managing Director and Chief Executive Officer of HDFC Life, said. In terms of total assets, the merger, which is anticipated to be completed in 18 months, would dramatically increase the bank's advantage over rival private sector peers ICICI Bank Ltd. and Axis Bank Ltd. According to data as of December 31, the amalgamated HDFC Bank will have a loan book of Rs 17.9 trillion, far ahead of ICICI Bank's Rs 8.14 trillion and Axis Bank's Rs 6.65 trillion. At the end of December, India's largest lender, State Bank of India (SBI), had total loans of Rs 26.64 trillion. The merger comes as the Reserve Bank of India (RBI) continues to tighten non-bank lending regulations in order to bring them up to par with banks, leaving giant shadow banks with little incentive to operate independently. In the midst of a surge in demand for house loans, the combined firm will benefit from adding a huge portfolio of mortgages. (With inputs from agencies)

In India's largest-ever M&A, HDFC to merge with HDFC Bank

<a href="https://www.wionews.com/world/singapore-fines-credit-suisse-local-bank-over-1mdb-corruption-scandal-16218">Credit&nbsp;Suisse&nbsp;</a>cut a key&nbsp;profitability target for this year and next as a drop-in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook.

Switzerland's second-largest lender said on Wednesday it expects to hit a return on tangible equity (RoTE) above 8 per cent&nbsp;this year, below its previous target of 10-11 per cent. The Zurich-based bank also cut its forecast for next year.

"If markets are constructive and support&nbsp;revenue&nbsp;growth, we would expect our year-end 2020 RoTE to be approximately 11 per cent," the bank said in a statement ahead of an investor day in London.

"Conversely, should markets remain challenging in 2020, we have identified up to 50 basis points of additional cost measures in order to protect our RoTE ambition of approximately 10 per cent."

<a href="https://www.wionews.com/business-economy/indian-mobile-industry-to-consolidate-further-if-government-doesnt-offer-material-relief-262952">Credit&nbsp;Suisse</a>&nbsp;previously aimed to achieve 11-12&nbsp;per cent&nbsp;RoTE in 2020.

The bank will present its first investor update since completing a three-year restructuring in 2018 which cut back its investment banking activities, boosted cooperation with wealth management, and whittled down costs.

While performance at its <a href="https://www.wionews.com/business-economy/global-markets-bonds-reign-supreme-equities-struggle-on-recession-brexit-fears-246318">Global Markets</a> trading division, the focus of previous criticism, has picked up in 2019,&nbsp;revenues have&nbsp;fallen in its investment banking and capital markets business due to floundering M&amp;A activity.&nbsp;Credit&nbsp;Suisse&nbsp;now expects the division to make a loss this year.

The bank last month appointed new leadership to the division and aims to bolster its M&amp;A activity by adding more bankers to advise deals in growth industries including technology and healthcare.

"Looking ahead to 2020, we are working on actions that will reinvigorate the division, building on a strongly improving pipeline, which we expect will put us in a more advantageous position compared to 2019," it said on Wednesday.

The Swiss lender said it expected to distribute at least 50&nbsp;per cent&nbsp;of net income to shareholders looking ahead to 2020 by growing its dividend at least 5&nbsp;per cent&nbsp;annually and through a share buyback of 1-1.5 billion Swiss francs ($1.00-$1.50 billion).

Credit Suisse cut a key profitability target for this year and next as a drop-in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook.

Credit Suisse cut a key profitability target for this year and next as a drop-in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook. Switzerland's second-largest lender said on Wednesday it expects to hit a return on tangible equity (RoTE) above 8 per cent this year, below its previous target of 10-11 per cent. The Zurich-based bank also cut its forecast for next year. "If markets are constructive and support revenue growth, we would expect our year-end 2020 RoTE to be approximately 11 per cent," the bank said in a statement ahead of an investor day in London. "Conversely, should markets remain challenging in 2020, we have identified up to 50 basis points of additional cost measures in order to protect our RoTE ambition of approximately 10 per cent." Credit Suisse previously aimed to achieve 11-12 per cent RoTE in 2020. The bank will present its first investor update since completing a three-year restructuring in 2018 which cut back its investment banking activities, boosted cooperation with wealth management, and whittled down costs. While performance at its Global Markets trading division, the focus of previous criticism, has picked up in 2019, revenues have fallen in its investment banking and capital markets business due to floundering M&A activity. Credit Suisse now expects the division to make a loss this year. The bank last month appointed new leadership to the division and aims to bolster its M&A activity by adding more bankers to advise deals in growth industries including technology and healthcare. "Looking ahead to 2020, we are working on actions that will reinvigorate the division, building on a strongly improving pipeline, which we expect will put us in a more advantageous position compared to 2019," it said on Wednesday. The Swiss lender said it expected to distribute at least 50 per cent of net income to shareholders looking ahead to 2020 by growing its dividend at least 5 per cent annually and through a share buyback of 1-1.5 billion Swiss francs ($1.00-$1.50 billion).

Credit Suisse cuts profit goals as revenue hopes fall short

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Accenture acquires Excelmax to boost silicon design capabilities in India

UBS eyes US expansion through wealth management M&A

AI helped this Japanese CEO's firm soar nearly 50%. Know how

In India's largest-ever M&A, HDFC to merge with HDFC Bank

Credit Suisse cuts profit goals as revenue hopes fall short