Friday, March 29

Tag: Acquisition

Spotify acquires Podcast platform Gimlet and Anchor
ACQUISITION

Spotify acquires Podcast platform Gimlet and Anchor

US-based Music Streaming platform Spotify acquires two major podcast platform Gimlet and Anchor in an Undisclosed deal. Though Recode reported the Gimlet deal is close to $200 million. With these acquisitions, Spotify is positioned to become both the premier producer of podcasts and the leading platform for podcast creators. Gimlet will bring to Spotify its best-in-class podcast studio with dedicated IP development, production and advertising capabilities. Anchor will bring its platform of tools for podcast creators and its established and rapidly growing creator base. “These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listeni...
German Personal Care brand Creme 21 Acquired for Euro 11-12 million
ACQUISITION

German Personal Care brand Creme 21 Acquired for Euro 11-12 million

A leading German personal care brand, Creme 21 was acquired by an Indian FMCG Emami for 11-12 million euro. This is the first international acquisition of this size in this segment by Indian FMCG Emami. We had acquired a small company earlier. The brand has been acquired at around 11-12 million euro of little less than 1.5 times of sales of 8 million euro," Emami director Harsha V Agarwal said. "This international acquisition will add to about 15 per cent of total overseas revenues and is in line with the companys strategy for growth through inorganic route," he said. Creme 21 will help to expand Emami's international business which is primarily dependent on personal care. In the personal care segment alone Emami total business accounts for 70 percent in India. Creme 21 has a...
India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform
ACQUISITION

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

Orowealth, one of India's leading Direct Mutual Fund platforms, recently announced that it has acquired the WealthTrust platform, including the product and all its users. Orowealth is a one-stop solution for all your investment needs from investing in stocks and direct mutual funds, to financial planning, goal advisory and more. WealthTrust, also one of the India's fastest growing 'Zero Commission Wealth Management' platforms, always aimed to make investment simple and hassle-free. Mr. Nisarg Gandhi, co-founder and CEO of WealthTrust said to Pixr8 team that we evaluated several partners before finally joining forces with Orowealth, which stood out as the best option for their users. The two companies now have a combined user base of 3 lakh registered users, and their asset...
TAKE Solutions to Acquire US based firms in ‘all cash deal’
ACQUISITION

TAKE Solutions to Acquire US based firms in ‘all cash deal’

Life sciences and supply chain management provider TAKE Solutions Friday said it would acquire two US-based entities in "an all cash deal" amounting to USD 72 million. Chennai based company, in a filing to Indian stock exchanges said with the acquisition of KAI Research, it would acquire Phase II, III capabilities in North America adding to its current service offerings in Europe and Asia. "KAI (Research) strengthens our therapeutic expertise mental health, musculoskeletal diseases and medical devices. The target has long standing relationships with clinical sites and trusted network of service providers", the company said om a BSE filing. "The total consideration for this transaction shall be up to USD 27 million, including contingent payments, subject to certain financial miles...
Infibeam Cancels Snapdeal’s Unicommerce Acquisition
ACQUISITION

Infibeam Cancels Snapdeal’s Unicommerce Acquisition

eInfibeam Avenues had announced that its up to Rs 120 crore-deal to acquire Unicommerce, a subsidiary of e-commerce platform Snapdeal, however, the deal has been terminated. "...we wish to inform you that the SPA has been terminated as the conditions precedent were not fulfilled within the stipulated time period," Infibeam said in a regulatory filing. In May, Infibeam Avenues had announced signing a definitive share purchase agreement (SPA) with Unicommerce eSolutions and Jasper lnfotech (which runs Snapdeal) to acquire 100% stake in Unicommerce. It had sated that the acquisition would boost its e-commerce enablement capabilities and expand the product offerings for existing clients. The transaction was scheduled to close in three-fiv...
Reliance Industries Acquires Stake in Blockchain Startup for $5 million
ACQUISITION

Reliance Industries Acquires Stake in Blockchain Startup for $5 million

Reliance Industries has acquired 5.56 per cent equity stake in technology startup Vakt Holdings Ltd, UK (VHL), for $5 million (approx Rs 35 crore).  In a regulator filing, the company said it has acquired the equity stake in VHL, a closely held startup entity which is expected to run its energy-focused blockchain startup early next year.  VHL is a consortium of leading global energy majors, commodity traders and banks with a vision to digitise the global commodities trading industry, creating a secure, trusted ecosystem, powered by blockchain.  "The strategic investment accelerates Reliance's digital journey, through active participation in an emerging and evolving, yet promising, block chain enabled technology solution for energy markets," the company sa...
lnfomedia Group to Acquire AxisPoint Health’s US Service Contracts
ACQUISITION

lnfomedia Group to Acquire AxisPoint Health’s US Service Contracts

A US subsidiary of business process management company Hinduja Global Solutions Ltd has agreed to sell several US nurse advice line service contracts to lnfomedia Group Inc. for $5.3 million (about Rs 37 crore). Health management solutions company HGS AxisPoint Health LLC has sold the contracts to Infomedia, which operates as Carenet Healthcare Services, Hinduja Global said in a stock exchange disclosure. The estimated annual revenue from the contracts sold is $9.4 million. HGS AxisPoint will continue to provide nurse advice line services to the remaining clients. Ramesh Gopalan, president of healthcare business at Hinduja Global, said the sale allows HGS AxisPoint Health to focus efforts on its care management offering. Hinduja Global had acquired AxisPoint Health in April for ...
Tech Giant Cisco to Acquire Silicon Photonics Chip Maker Luxtera
ACQUISITION

Tech Giant Cisco to Acquire Silicon Photonics Chip Maker Luxtera

The popular technology company Cisco has reportedly announced its intent to acquire Luxtera. The deal has been valued $660 million. Luxtera, which was founded in 2001 and raised over $130 million, will give Cisco  a photonic solution for that data networking problem. Rob Salvagno, head of Cisco’s M&A and venture investment team sees a company that can help modernize Cisco’s networking equipment. “That’s why today we announced our intent to acquire Luxtera, Inc., a privately-held semiconductor company that uses silicon photonics technology to build integrated optics capabilities for webscale and enterprise data centers, service provider market segments, and other customers. Luxtera’s technology, design and manufacturing innovation significantly improves perfor...
Mumbai Based Payments Entity Acquires 5% Stake in Infibeam for Rs 25 Crore
ACQUISITION

Mumbai Based Payments Entity Acquires 5% Stake in Infibeam for Rs 25 Crore

Suvidhaa Infoserve which is a payments entity based in Mumbai has acquired 5% stake in the popular online e-commerce and payment solution company Infibeam.com. The deal has been valued at Rs 25 crore.Infibeam Avenues which owns Infibeam.com said that its board of directors has entered into a binding MoU with Suvidhaa which has around 90,000 retailers for money remittance and other services across the country.Through this association and partnership, the company will enter into a strategic partnership with Suvidhaa for last mile delivery of products and services. Also, Suvidhaa will leverage the offline presence to sell products for Infibeam and in turn, Infibeam will get access to far off locations to sell its products through the assisted model.Slowly, th...
Walmart Labs makes its Second Acqui-hire in India with an AI Firm
ACQUISITION

Walmart Labs makes its Second Acqui-hire in India with an AI Firm

The retail giant Walmart has made its second acqui-hire in India, with a machine learning startup called Int.AI. The acquisition is being done to strengthen its technology team in the country. This will mark as the company second aqui-hire in the country. Prior to this, Walmart acqui-hired micro-app startup Appsfly in September, merging that six-member team with its customer experience engineering group. “We announced one and we just did our second one. It’s called Int.AI,” Jeremy King, executive vice president and chief technology at Walmart said. Int.AI operates in the field of data analytics and machine learning. The platform has built capabilities in analysing data and sharing it with targeted users over email as well as collaborative tools like Slack among others. Founded...
Alpha Capital Acquires Stake in Two-wheeler Maker Hero Electric
ACQUISITION

Alpha Capital Acquires Stake in Two-wheeler Maker Hero Electric

Mumbai-based investment management firm Alpha Capital Advisors is reportedly acquiring a minority stake in lithium-ion battery-powered two-wheelers manufacturer Hero Electric Vehicles. This particular deal has been valued at Rs 160 crore ($22.3 million). “This fund infusion will help us diversify our product portfolio, acquire new technology and focus on strengthening our research and development capabilities to achieve certain rate of localisation,” said Naveen Munjal, managing director of Hero Electric. With this, the company is planning to make significant additions to its manufacturing capacity by setting up multiple plants over the next five years. Delhi-based Hero Electric, which is part of the Vijay Munjal-led Hero Eco, currently has a manufacturing facility at Ludhiana in...
The Organizational Tool Trello Acquires Butler
ACQUISITION

The Organizational Tool Trello Acquires Butler

Theorganizational tool Trello has announced the acquisition of Butler. Thefinancial details of the deal have not been disclosed. With this acquisition, the company will bring he power of automation, stringing together a bunch of commands to make something complex happen automatically. Trello’s Michael Pryor stated that the company is used to tools like IFTTT, Zapier and AppleShortcuts, and this will bring a similar type of functionality directly into Trello. “Over the years, teams have discovered that by automating processes on Trello boards with the Butler Power-Up, they could spend more time on important tasks and be more productive. Butler helps teams codify business rules and processes, taking something that might take ten steps to accomplish and automating it into one click,...