There was acquisition buzz over the weekend, with Chinese e-commerce behemoth Alibaba and Tencent involved in talks to buy an approximately 20% stake in the Chinese unit of WPP, the world's largest advertising group. This acquisition would value WPP at roughly $2.5 billion.
Meanwhile, in Europe, French technology services company Atos has agreed to acquire Syntel in a $3.7 billion all-cash transaction. Syntel is a U.S.-based multinational provider of integrated technology and business services, headquartered in Troy, Michigan. Syntel utilizes development centers in India to provide its services, and names such clients as American Express, State Street Bank, and FedEx. Syntel stock jumped on the news.