ACQUISITION | Pixr8 News

Facebook buys Reliance Jio 9.9% Stake for $5.7 billion

22Apr By AdityaNo Comments

ACQUISITION

Facebook buys Reliance Jio 9.9% Stake for $5.7 billion

Facebook announced an acquisition of a 9.9% stake in India's largest telecom operator Jio Platforms Ltd for USD 5.7 billion (Rs 43,574 crore). With this deal, the social media giant looks to expand its presence in its largest subscriber-based market. "Today, we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder," the fb said in a statement. Facebook's move to pick up about a 10 percent stake in Jio Platforms will accelerate Jio's digital monetization drive and put Reliance Industries (RIL) on course to turn net debt-free by March 2021, said Indian analysts. It said that Facebook's investment into this entity will further Reliance Industries' digital in...

TVS Motor acquires UK-based Norton Motorcycles

17Apr By Press Trust of IndiaNo Comments

ACQUISITION, Automobile

TVS Motor acquires UK-based Norton Motorcycles

TVS Motor has acquired UK-based iconic bike manufacturer Norton Motorcycles for GBP 16 million (around Rs 153 crore). The company has acquired Britain's most iconic sporting motorcycle brand Norton in an all-cash deal for a consideration of GBP 16 million by acquiring certain assets of Norton Motorcycles (UK) through one of its overseas subsidiaries, TVS Motor Company said in a statement. Founded by James Lansdowne Norton in Birmingham in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time. Norton Motorcycles is known for its classic models and range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to its contemporary 200 bhp, 1200cc V4 superbikes. "This is a momentous time for us at TVS Motor Compan...

HouseCanary Acquires Real Estate Technology Startup

4Apr By PriyankaNo Comments

ACQUISITION

HouseCanary Acquires Real Estate Technology Startup

Home valuation fintech pioneer HouseCanary has acquired Dropmodel, a technology startup with analytic and financial modeling solutions for the single-family real estate asset class. In addition, Dropmodel Co-Founder Tom Blake has joined the company as Vice President of Investor Platform. This is the first acquisition for HouseCanary which recently closed a $65M Series C growth funding round. Dropmodel is a web-based real estate financial modeling, analysis, and presentation application that includes a suite of smart, flexible models, calculators, and tools for the single-family real estate sector. It helps single-family real estate investors across all strategies "drop" their data into analytical models and get instant, comprehensive results that support data-driven business de...

Facebook Looking to Acquire 10% Stake in India’s leading Telecom Company

25Mar By PriyankaNo Comments

ACQUISITION

Facebook Looking to Acquire 10% Stake in India’s leading Telecom Company

Facebook Inc is in talks to acquire stake India's leading telecom company Reliance Jio, according to a report published in Financial Times. The report said the social media giant was in talks for a 10% stake in Jio, controlled by India's wealthiest man Mukesh Ambani, but the talks were halted due to global travel bans amid the coronavirus outbreak. According to previous reports, Reliance Jio's enterprise value was estimated to be around $60-65 billion in October 2019 following the company's future plan to clear all its debt till March 2021. Reliance Jio had a subscriber market share of 32.1 percent and a revenue market share of 35.4 percent in December 2019 as per previous reports. Recently, Reliance had restructured the digital businesses to bring it under a single entity in...

Cognizant to Acquire Indianapolis based Digital Marketing Firm

23Mar By PriyankaNo Comments

ACQUISITION

Cognizant to Acquire Indianapolis based Digital Marketing Firm

IT firm Cognizant said it has entered into an agreement to acquire Lev, a privately-held, digital marketing consultancy in the US. The company did not disclose financial details of the transaction. "Lev helps businesses simplify and modernise their marketing campaigns using Salesforce Marketing Cloud to provide data-driven insight and personalization across the customer journey, and ultimately drive revenue," Cognizant said in a statement. The acquisition will help expand Cognizant's Salesforce practice and is expected to close in the first quarter of 2020, subject to meeting of certain closing conditions. Indianapolis based Lev provides strategic consulting, architecture design, technical optimisation and application integration services, the statement said, adding its client...

Thomson Reuters Acquires Pondera Solutions

19Mar By AdityaNo Comments

ACQUISITION

Thomson Reuters Acquires Pondera Solutions

MINNEAPOLIS and ST. PAUL, Minn., March 19, 2020-- Thomson Reuters announced that it has acquired Pondera Solutions, a leading provider of technology and advanced analytics to combat fraud, waste, and abuse in healthcare and large government programs. However, the financial terms of the acquisition were not disclosed. Thomson Reuters serves government agencies at the federal, state and local level with solutions and resources to improve efficiencies, diminish risk and reduce fraud. The acquisition of Pondera Solutions will enhance the offerings in the risk, fraud and compliance space and will allow Thomson Reuters to expand on its strategic approach to deliver insight through advanced analytics, artificial intelligence and human expertise. "Thomson Reuters and Pondera share ...

M&M Acquire More Stake in MITRA Agro For $1 Million

12Mar By AnkitaNo Comments

ACQUISITION

M&M Acquire More Stake in MITRA Agro For $1 Million

M&M has signed a share purchase agreement to buy additional 34,249 equity shares of MITRA Agro Equipments Pvt Ltd, an associate of the company, from its existing shareholders. The company currently holds 26 percent of the equity share capital of Mitra, and after the completion of the above transaction, it will hold around 39 percent of the equity share capital of Mitra on a fully diluted basis, Mahindra & Mahindra said in a filing to the BSE. The purchase of additional equity shares in MITRA Agro Equipments Pvt Ltd would support the company's farm equipment business in the horticulture sector, it added. After the acquisition of equity shares, Mitra would continue to remain an associate of the company, Mahindra & Mahindra said. The purchase at which these shares are...

PepsiCo To Acquire Rockstar For $3.85 Billion

11Mar By AdityaNo Comments

ACQUISITION

PepsiCo To Acquire Rockstar For $3.85 Billion

PURCHASE, N.Y., March 11, 2020-- PepsiCo announced that it has entered into an agreement to acquire Rockstar Energy Beverages ("Rockstar"), the popular energy drink maker, for $3.85 billion. "As we work to be more consumer-centric and capitalize on rising demand in the functional beverage space, this highly strategic acquisition will enable us to leverage PepsiCo's capabilities to both accelerate Rockstar's performance and unlock our ability to expand in the category with existing brands such as Mountain Dew," said PepsiCo Chairman and CEO, Ramon Laguarta. "Over time, we expect to capture our fair share of this fast-growing, highly profitable category and create meaningful new partnerships in the energy space." Rockstar, founded in 2001, produces beverages that are designed for...

11Mar By NitishNo Comments

ACQUISITION

IXL Learning Acquires Vocabulary.com

SAN MATEO, Calif., March 10, 2020-- IXL Learning, the K-12 personalized learning platform used by 8 million students, announced the acquisition of Vocabulary.com, the leading educational destination for improving literacy through vocabulary building. Founded in 2010, Vocabulary.com provides students with a dynamic and personalized environment to grow their vocabulary. With a library of over 15,000 words, Vocabulary.com makes learning and discovering new words fun with entertaining definitions and real-world examples sourced from literature and journalism. Adaptive, individualized and interactive, the platform seamlessly integrates with any school curriculum, helping students master key words contained in their textbooks and other lesson materials. "Vocabulary.com is one of the most ...

Gay Dating App Grindr Sold for USD 608 million

9Mar By NitishNo Comments

ACQUISITION

Gay Dating App Grindr Sold for USD 608 million

Beijing, Mar 9 (AFP): One of China''s biggest mobile gaming company is selling popular gay dating app Grindr for USD 608 million after pressure from US authorities concerned over the potential misuse of user data. National security officials in Washington fear the platform which bills itself as the world''s largest social networking space for LGBT people could be used by the Chinese government to blackmail Americans with government security clearances, according to media reports last year. Beijing Kunlun Tech took a majority stake in the app in 2016 and bought the remaining equity two years later for a combined USD 245 million, but was reportedly ordered to relinquish the platform by US officials last year. It will sell a 98.59 percent stake in Grindr to San Vicente Acquisition, ...

7Mar By PriyankaNo Comments

ACQUISITION

SBI to Pick up 49 pc Stake in Yes Bank

India's leading government bank State Bank of India (SBI) will pick up 49 percent stake in the crisis-ridden Yes Bank under a government-approved bailout plan, with Finance Minister Nirmala Sitharaman assuring that depositors' money is safe. A day after imposing moratorium on Yes Bank and restricting withdrawals, the RBI on Friday evening issued a draft reconstruction scheme for the private sector lender and said SBI has "expressed its willingness" to make an investment. Earlier in the day, SBI Chairman Rajnish Kumar met the finance minister. A former SBI CFO has already been appointed administrator of the Yes Bank, whose board has been superseded. "The investor bank shall agree to invest in the equity of the reconstructed bank to the extent that post infusion it holds 49 per cen...

Ad-tech company Affle acquire Mediasmart

28Feb By PriyankaNo Comments

ACQUISITION

Ad-tech company Affle acquire Mediasmart

Ad-tech company Affle has acquired Spanish firm Mediasmart in a $5.5 million (Rs 40.87 crore) deal. Mediasmart provides advertisers, trading desks and agencies an integrated mobile advertising platform. Its proximity marketing solutions allow it to deliver location targeted campaigns with real time footfall tracking and offline attribution. Its total revenue for the financial year ended December 31, 2019, was EUR 5.95 million. "A total consideration of EUR 5.12 million including contingent consideration to be paid for the acquisition of 100 per cent shares and economic rights of employees (subject to certain performance conditions over 4 years period and also subject to certain closing adjustments)," Affle said in a regulatory filing. It added that this also includes the pa...