Keysight Advances Software-Centric Solutions Leadership Through The Acquisition of ESI Group

* Expands Keysight’s application layer portfolio with simulation capabilities that are critical to accelerate innovation in multiple end markets including automotive 

* Enables customers to accelerate time to market and lower operational costs, while reducing their environmental footprint

* Increases Keysight’s software revenue and ARR

Keysight Technologies, Inc. (NYSE: KEYS) announced its intention to acquire the entire share capital of ESI Group SA (Euronext Paris Symbol: ESI) (“ESI Group”) at a price per share of 155 euros in cash. The acquisition values ESI Group’s entire share capital at 913 million euros on a fully diluted basis. Founded in 1973, ESI Group is a leading innovator of virtual prototyping solutions in automotive and aerospace end markets.

ESI Group’s sophisticated software solutions simulate a product’s behavior during testing and real-life use. The company’s portfolio is highly differentiated, with predictive simulation technology for the most challenging system designs. ESI Group’s real-time digital twin solutions combine model-driven simulation with data-driven test to create virtual simulations, and its immersive industrial solutions enable workflow automation and virtual manufacturing.

In today’s era of digital transformation, product development across many industries is shifting left in the design cycle and becoming virtualized. Computer-aided engineering supports this shift left with virtual prototyping of products, manufacturing processes, and workflows.

By bringing ESI Group into its electronic design and test portfolio, Keysight will further expand its software prototyping capabilities into computer-aided engineering, enabling customers to accelerate time to market and lower operational costs, while reducing their environmental footprint. 

Satish Dhanasekaran, President and Chief Executive Officer of Keysight, said: 

“Keysight’s acquisition of ESI Group accelerates our strategy of providing software-centric solutions with virtual prototyping and advanced simulation capabilities. Keysight and ESI Group share rich cultures of innovation and strong commitments to solving customers’ most complex challenges, which will enable value creation for all stakeholders. The Keysight team looks forward to working with the world-class talent at ESI Group to unlock opportunities and drive our combined success.”

Cristel de Rouvray, Chief Executive Officer of ESI Group, said:

“I am delighted for ESI to announce this significant milestone today with Keysight. Over the past four years, our entire team has been dedicated to transforming ESI Group into a leading actor in the industrial software and simulation sectors. This combination with Keysight is a testament to the success of the work carried out over the years and will enable ESI to enter a new phase of its development. The core values, vision, and ambition that have driven Keysight over its long and reputable history and under its current leadership are perfectly aligned with those of ESI Group: pioneers enabling innovation for industry. I trust this operation is the promise of an exciting and sustainable future.”

Transaction Structure

On June 28, 2023, Keysight made a binding offer to certain shareholders of ESI Group to acquire a controlling block of the ESI Group’s share capital and voting rights.

Once completed, Keysight will file a proposed mandatory tender offer for the remaining outstanding shares of ESI Group. If legal conditions are met at the end of the offer, a squeeze-out procedure will occur, and the ESI Group will be delisted from Euronext Paris.  

Completion of the acquisition of the controlling block of ESI shares is expected to take place during the fourth quarter of calendar year 2023, with the tender offer to occur shortly thereafter.

A presentation to supplement today's announcement can be found on Keysight's Investor Relations website under “News, Events, Presentations”.

J.P. Morgan Securities LLC is acting as exclusive financial advisor to Keysight with Paul Hastings LLP acting as legal advisor.

About ESI Group

Founded in 1973, ESI Group envisions a world where Industry commits to bold outcomes, addressing high stakes concerns - environmental impact, safety and comfort for consumers and workers, and adaptable and sustainable business models. ESI Group provides reliable and customized solutions anchored on predictive physics modeling and virtual prototyping expertise to allow industries to make the right decisions at the right time while managing their complexity. Acting principally in automotive & land transportation, aerospace, and heavy industry, ESI Group is present in more than 15 countries, employs 1,000 people around the world, and reported 2022 sales of 130 million euros. ESI is headquartered in France and is listed in compartment B of Euronext Paris.

About Keysight

At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we're delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle. We're a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world. Learn more at Keysight Newsroom and www.keysight.com. 

Honda Cars India Registers 5,080 Units of Domestic Sales In June 2023

Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, registered monthly domestic sales of 5,080 units in June 2023. The export numbers for HCIL stood at 2,112 units in June’23.  

Sharing thoughts on the sales performance, Mr. Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd said, “Our sales in June are in line with our projections and met our planned targets. After the global unveiling of our latest SUV for India Honda Elevate last month, we are getting overwhelming interest for the new model. We will soon commence the prelaunch booking for Elevate and it will be launched during festive season.” 

The company had registered 7,834 in domestic sales and exported 2,502 units in June’ 22.   

About Honda Cars India Ltd. 

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, was established in December 1995 with a commitment to provide Honda’s passenger car models and technologies, to the Indian customers. HCIL’s corporate office is based in Greater Noida, UP and its state-of- the-art manufacturing facility is located at Tapukara, District. Alwar, Rajasthan. 

Honda’s models are strongly associated with advanced design and technology, apart from their established qualities of durability, reliability, safety, and fuel-efficiency catering to diverse needs of its discerning buyers across different segments.  The company has a strong sales and distribution network spread across the country. 

Besides the new car business, Honda offers one stop solution for buying and selling pre-owned cars through its business function Honda Auto Terrace. The Honda Certified Pre-owned cars come with an assurance of quality and peace of mind that caters to the diverse and burgeoning needs of pre-owned car buyers across the country. 

M.R Electrical Enterprises Organized Free Artificial Limb Donation And Measurement Camp’

* Also Free Foot & Forearms Camp

M.R Electrical Enterprises and Business Booster Club in association with Bhagwan Mahaveer Vikalang Sahayata Samiti (Jaipur Foot)  organized  a ‘Free Mega Artificial limb Donation and  Measurement Camp “ today at Maharaja Agrasen Bhavan, near Ashoka Pillar, Jayanagar, Bengaluru -560011.

Sri Bimal Kumar Saraogi-Member of   Bhagwan Mahaveer Vikalang Sahayata Samiti, Said ‘More than 100 patients were screened and were benefited by this measurement camp. As per the measurements of Jaipur foot, calipers (for polio affected patients) & crutches for handicapped, BMVSS will keep it ready and distribute to the patients at the same venue on 30th July 2023.

Mr.Ramesh Jain-Director- M.R Electrical Enterprises ,  said, “ we should contribute as per our capacity to help others. It is a clear social vision and commitment of M.R Electrical Enterprises to help the disabled regain mobility and dignity by fitting high-quality, durable artificial limbs and other aids and appliances.

Speaking about the Camp Mr. Narendar Gehlot , Director- Business Boosters Club ,  said, “It is heartening to see the coming together of people and communities to help each other out. We strongly believe that service to man is service to God, and invite one and all to take this opportunity to serve humanity.

The artificial limbs provided by : M.R Electrical Enterprises uses Jaipur Limb Technology. This technology has been developed and further refined by the research and development team of the society. The Jaipur Limb is a one-stop facility and the patients who come are measured and their custom-made limb/caliper are fabricated and fitted, without making them visit again a second time. It is so efficient that after this limb is fitted, a person can walk like a normal person without a stick or support, and even run, ride a bicycle and climb a tree. After the fitment many of the patients can go back to work in the field, factories, shops and offices.

Debadatta Chand Has Assumed Charge As The "Managing Director & Chief Executive Officer" of Bank of Baroda

Shri Debadatta Chand has assumed charge as the “Managing Director & Chief Executive Officer” of Bank of Baroda. He takes over from Shri Sanjiv Chadha, whose tenure ended on June 30, 2023. 

Prior to his appointment as MD & CEO, Shri Chand served as the Executive Director at Bank of Baroda since March 2021. In his role as Executive Director, he was overseeing Corporate & Institutional Credit, Corporate & Institutional Banking, Treasury & Global Markets, Mid-Corporate Business, and Trade & Foreign Exchange. In addition, he had also successfully overseen the International Banking Business, Domestic Subsidiaries/Joint Ventures, Wealth Management, Capital Markets, NRI Business as well as key platform functions such as HRM, Finance & Planning, Risk Management, Audit & Inspection, Credit Monitoring, Collections, Legal, Compliance, Learning & Development, Disciplinary Proceedings, Information Security and Estate Management & Security at the Bank. 

With over 29 years of experience in Commercial Banking and Developmental Financial Institutions, Shri Chand has built a strong foundation in the banking sector. He began his career in 1994 as an Officer at Allahabad Bank and later worked as a Manager at the Small Industries Development Bank of India (SIDBI) from 1998 to 2005. In 2005, he joined Punjab National Bank (PNB) as Chief Manager and steadily progressed to the position of Chief General Manager. During his over 15-year tenure at PNB, he held various roles, including Head of the Zonal Audit Office in Patna, Circle Head of the Bareilly Region, Head of Integrated Treasury Operations, and Head of the Mumbai Zone. 

Shri Chand also currently serves on the Boards of BOB Capital Markets Ltd., India Infradebt Limited, Baroda Financial Solutions Limited, Bank of Baroda (Tanzania) Ltd., Bank of Baroda (Uganda) Ltd. and Bank of Baroda (Kenya) Ltd. Previously, he served on the Boards of PNB Principal Mutual Fund and SWIFT India Pvt. Ltd. as nominee director of Punjab National Bank.  

He holds a B. Tech. degree, an MBA, and CAIIB qualification. Additionally, Shri Chand has a PG Diploma in Equity Research and is a Certified Portfolio Manager. 

SBI Launches Revamped YONO Application - 'YONO FOR EVERY INDIAN' And Interoperable Cardless Cash Withdrawal Through ATM

The State Bank of India, the country's largest lender, as part of the 68th Bank Day celebrations, launched its enhanced digital banking application, 'YONO for Every Indian'  and Interoperable Cardless Cash Withdrawal (ICCW) facilities.

With ‘YONO for Every Indian’, now any Bank customer will have access to the UPI features like Scan and Pay, Pay by contacts, Request money, among others on YONO’s new avatar. This milestone upgrade further expands SBI's commitment to providing inclusive and customer-centric digital banking services to every Indian citizen.

Since its launch in 2017, YONO, the digital face of the Bank, has emerged as one of the most trusted mobile banking apps in the country with over 6 Crore registered users. In FY23 itself, 64% or 78.60 Lakh savings accounts were acquired digitally through YONO. The upgraded version of the YONO app will empower customers of other banks to embark on the YONO journey, thereby encouraging them to become a part of the ever-growing SBI family.

With the rollout of the Interoperable Cardless Cash Withdrawal facility, both the customers of SBI and other banks can withdraw cash seamlessly from ICCW-enabled ATMs of any bank by using the 'UPI QR Cash' functionality. The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen. Users can conveniently withdraw cash by employing the Scan and Pay feature available on their UPI application.

While the groundbreaking facility simplifies the cash withdrawal process, it also ensures enhanced security for customers. By eliminating the need to enter a PIN or physically handle a debit card, the ICCW facility minimizes the risks associated with shoulder surfing or card cloning. Customers can enjoy the benefits of instant cash withdrawal through a user-friendly and secure digital channel, offering them a hassle-free banking experience. As part of the bank's commitment to delivering innovative and customer-centric solutions, SBI has been actively strengthening its digital platforms.

On this occasion, Shri Dinesh Khara, Chairman of the State Bank of India, said, "SBI is dedicated to offering cutting-edge digital banking solutions that empower every Indian with financial independence and convenience. The YONO app has been revamped, keeping in mind the expectations of our customers for a seamless and pleasant digital experience. This will further fulfill our goal of making the 'YONO for Every Indian' mission a reality.”

About State Bank of India:

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of over 30 lakh Indian families. The home loan portfolio of the bank has crossed Rs. 6.40 lakh crore. As on March 31, 2023, the bank has a deposit base of over Rs. 44.23 lakh crore with CASA ratio of 43.80% and advances of more than Rs. 32 lakh crore. SBI commands a market share of 33.1% and 19.4% in home loans and auto loans respectively. SBI has the largest network of 22,405 branches and 65,627 ATMs / ADWMs in India with 76,809 BC outlets. The number of customers using internet banking and mobile banking stand at 114 million and 61 million respectively. With SBI’s digital strategy right on track – the bank witnessed 64% of new savings accounts opened through the integrated digital and lifestyle platform YONO in FY23. SBI observed 23,000 new digital savings bank accounts being opened per day via YONO in the quarter ended March 2023. YONO, which has more than 6.07 crore registered users, witnessed more than 1 crore average daily logins in Q4 FY23. In terms of digital lending, the bank disbursed pre-approved personal loans worth Rs. 6,900 crore through YONO in the same period. SBI also has the highest number of followers on Facebook and Twitter amongst all banks worldwide.

Tribute to Dr Brijmohan Lall Munjal On 100th Birth Anniversary

Dr Pawan Munjal, Executive Chairman, Hero MotoCorp, led the "Founder's Ride" commemorating the 100th birth anniversary of his father, Padma Bhushan Dr Brijmohan Lall Munjal.

A first generation entrepreneur, Dr Lall, with his grit and perseverance created one of the country's largest conglomerates, Hero Group and the world’s largest manufacturer of motorcycles and scooters, Hero MotoCorp.

100 riders rode for 100 km as a tribute to the 100 years of his legacy. Hero MotoCorp is also organising various company wide activities in this centennial year, that imbibe the values of Dr Lall, such as blood donation drives across plant locations, corporate & zonal offices and community initiatives.

Toyota Kirloskar Motor Continues To Post Strong Sales Growth, Records Sales of 19,608 Units In June 2023

* Posts growth of 19% compared to June 2022

· First six months of CY 2023 witnesses a significant surge of 36% over the same period last year

· Q1 of FY 2023 records a growth of 33%, as compared to the corresponding period in FY 2022

Toyota Kirloskar Motor (TKM) today reported an impressive performance with the sales of 19,608 units in the month of June 2023, an increase of 19% over the same period last year, where the company sold 16,512 units. While overall domestic sales stood at 18,237 units, exports accounted for 1,371 units in the month of June 2023. 

TKM maintained its robust sales momentum from January to June in CY 2023 by selling a total of 1,02,371 units, surpassing the figures of 75,017 units sold in the same period last year thus resulting in a growth of 36%. Furthermore, company’s solid performance also reflected in the sales achieved in the first quarter of the current Financial Year (FY) with a 33% increase by selling 55,528 units compared to 41,813 units in the corresponding period of the previous year. 

Sales Performance:

Mr. Atul Sood, Vice President of Sales, and Strategic Marketing at Toyota Kirloskar Motor, said, “Toyota Kirloskar Motor continues to post strong sales growth, thanks to the robust performance of our entire product range we achieved a remarkable growth of 19% in the month of June.

Ever since the launch of Urban Cruiser Hyryder and Innova Hycross, we are witnessing continued high acceptance by our customers. These along with a consistent performance by the entire product portfolio – Camry Hybrid, Fortuner, Legender, Vellfire, Glanza and the newly introduced Hilux, further encouraged by exceptional customer satisfaction, are enabling us to sustain the positive performance. Our maiden "Great 4X4 X-pedition", held in the South region, was much appreciated by the cult off-roading community whilst keeping the SUV enthusiasts engaged. This along with the various thrilling experiential drives conducted across the country for the Hilux fan base is enabling Toyota to win more hearts across the country.

The commencement of three shift operations has played a vital role in enhancing operational capabilities and addressing the growing demand for our products. Looking ahead, we will continue to be driven by our customer first approach to serve customers with best-in-class vehicles along with a bundle of best in class value added propositions to meet customers’ diverse needs.”

In the month of June, the company announced special service oriented schemes like the specialised monsoon campaign and tie-up with a financial institute to enable easy finance options to valued customers. With these and many more innovative offers in line, TKM remains committed to meeting customer expectations by constantly providing world-class products and innovative solutions.