Thursday, April 25

Tag: Mergers and Acquisitions

Nasper is Set To Acquire Citrus Pay For $180 Million
8Aug By NitishNo Comments
ACQUISITION

Nasper is Set To Acquire Citrus Pay For $180 Million

Citrus Pay, founded by Jitendra Gupta and Satyen Kothari in 2011 set to acquire by South African media and internet conglomerate Naspers for around $150-180 million, in an all-cash transaction deal. Japan's internet major Rakuten was also one of the contender to acquire Citrus Pay. However, the deal fell through. This acquisition deal is one of the largest deals in the Indian payments market. Earlier Snapdeal buy out Freecharge for $400 million (30% cash, 70% stock). The domestic payments market has been abuzz with mergers and acquisitions in the past year after vast opportunity created by leading players Paytm and Freecharge. ALSO READ: PayPal founder invest $3 million in Mumbai based startup citrus Pay Payment company Citrus Pay acts as a bridge between bank acc...
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Exclusive: Tesla, SolarCity Close to Merger Agreement
24Jul By reutersNo Comments
ACQUISITION

Exclusive: Tesla, SolarCity Close to Merger Agreement

Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. The two companies, which count billionaire Elon Musk as a major shareholder, are in the final stages of carrying out due diligence on each other, and could agree on the terms of a deal in the coming days, though it is still possible that their negotiations end unsuccessfully, the people said on Saturday. It could not be learned whether SolarCity would be successful in including a go-shop provision in a merger agreement with Tesla that would allow it to continue to solicit bids from other potential buyers for a short period of time. The sources asked not to be identified because the negotiations...
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Godrej Group Looking to Become $10 Billion Entity By 2020: Adi Godrej
22May By Press Trust of IndiaNo Comments
Entrepreneurs Talk

Godrej Group Looking to Become $10 Billion Entity By 2020: Adi Godrej

Diversified Godrej Group is looking to accelerate growth and multiply its size 2.5 times in the next four years to touch USD 10 billion mark by 2020 with acquisitions in emerging markets slated to play a key role in achieving the target. The group with interests in various sectors such as consumer goods, real estate, appliances and agriculture had announced its 2020 vision aiming to be 10 times the size of what it was in 2010. "Our objective is 10 by 10, which is ten times growth in 10 years at a compounded annual growth rate of 26 per cent. That is our objective. In next four years, if we grow with CAGR of 26 per cent then in four year we are about 2.5 times of our present size," Godrej Group Chairman Adi Godrej told PTI. He said the growth will be driven by both organic and inorgani...
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Amazon acquired EMVANTAGE a Payment Gateway Startup
17Feb By AnkitaNo Comments
ACQUISITION

Amazon acquired EMVANTAGE a Payment Gateway Startup

Amazon.com has acquire EMVANTAGE Payments Pvt Ltd, a Noida-based online payment solutions provider for an undisclosed amount. Srinivas Rao, director of Amazon Payments India said in a press release "EMVANTAGE is a valuable addition to our team as we accelerate our payment offerings, ensuring the best in class online payment experience anywhere that customers shop with us,”  As part of the deal, EMVANTAGE's team will join Amazon's payments team to develop solutions tailored for the Indian market. The deal is expected to close in the first quarter of 2016. EMVANTAGE provides an online payment gateway, besides solutions around mobile payments and pre-paid card solutions. Amazon had recently struck a deal to buy a 26 per cent stake in Westland Ltd, a subsidiary of Tata Group’s reta...
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Acquisitions: CarDekho acquired Times Internet Owned Auto Portal Zigwheels
14Sep By RishabhNo Comments
ACQUISITION

Acquisitions: CarDekho acquired Times Internet Owned Auto Portal Zigwheels

Setup back in 2008, Cardekho was founded by a team of four people as an initiative towards providing a quality information in a quality environment on one of the biggest assets that a person owns in his lifetime. Recently Ratan Tata backed that Cardekho.com is acquiring Times Internet owned auto portal Zigwheels. The details of the purchase are yet not disclosed. Cardekho’s CEO and Co-founder confirmed the news and said that “The acquisition of Zigwheels is a strategic step to enhance our content to be more rich and engaging so that we help car and bike buyers. Zigwheels will work as an independent entity within the organization.” After the acquisition of Goibibo’s Gaadi.com in September 2014 and BuyingIQ, a price comparison portal and shopping engine founded by IIT graduates, in April...
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