ACQUISITION | Pixr8 News

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 A former SBI CFO has already been appointed administrator of the Yes Bank, whose board has been superseded.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 cent...

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 pay...

28Feb By AdityaNo Comments

ACQUISITION

LetsTransport Acquihires Pixlcoders

LetsTransport, a tech-logistics solution provider said it has acqui-hired Bengaluru-based web and mobile app development company, Pixlcoders. LetsTransport has on-boarded the team of the Pixlcoders with an aim to strengthen the supply chain, boosting technology and enhancing its applications, a statement said. "With this acqui-hire decision, LetsTransport aims to further build on disruptive technology for logistics and expand its presence in India," it added. Pixlcoders, a team of 10 tech-enthusiasts along with its senior management will also help the brand in customised solutions such as user research, market validation, enriched UX and branding, the statement said. Founded in 2016 by Suresh P and Punam Garu, Pixlcoders offers affordable customised software, digital products, ...

Tech Mahindra to Acquire Zen3 Infosolutions for $64 Million

24Feb By AdityaNo Comments

ACQUISITION

Tech Mahindra to Acquire Zen3 Infosolutions for $64 Million

Indian IT company Tech Mahindra has signed an agreement to acquire 100 percent stake in US-based Zen3 Infosolutions for USD 64 million in an all-cash deal. Headquartered in Seattle, Zen 3 has over 1,300 employees spread across offices in Seattle, Dublin, Hyderabad, Vishakhapatnam, and Bengaluru. "The acquisition of Zen3 Infosolutions is in line with our strategy to build new capabilities. It has expertise in artificial intelligence, machine learning, annotations, cloud engineering etc which are high growth area," Vivek Agrawal- Global Head, Enterprise Business and Portfolio Companies, Tech Mahindra said. Tech Mahindra will acquire 100 per cent stake in the company for USD 64 million or about Rs 460 crore out of which USD 42 million or about Rs 300 crore will be paid at closing and...

Lyft acquires Cartop Advertising Startup Halo Cars

24Feb By PriyankaNo Comments

ACQUISITION

Lyft acquires Cartop Advertising Startup Halo Cars

Lyft Inc has bought U.S.-based startup Halo Cars, which allows drivers to make money through digital advertisements displayed on top of their vehicles. The deal, first reported by Axios, was confirmed by the ride-hailing company on Friday. Lyft did not comment on the financing of the deal. Halo Cars was founded in 2018 and has operations in U.S. markets such as New York and Chicago. Lyft and larger rival Uber Technologies Inc, both based in San Francisco, are pursuing different roads in search of profitability, with Uber pouring money into side businesses which have so far lost money and Lyft focusing solely on moving people around. With operations only in the United States and some Canadian cities, Lyft said earlier this month its active rider customer base in the fourth quart...

Wipro Acquires Washington based Rational Interaction

21Feb By AdityaNo Comments

ACQUISITION

Wipro Acquires Washington based Rational Interaction

Wipro Digital, the digital business unit of IT major Wipro has acquired digital customer experience (CX) firm Rational Interaction. Wipro Digital didn't disclose the acquisition amount. Founded in 2009, Rational Interaction is headquartered in Washington and has over 300 employees. It has offices in Seattle, Bellevue, Dublin, and Sydney. "The acquisition will scale Wipro Digital's offering for Chief Marketing Officers (CMO), connecting Rational Interaction's ability to map and orchestrate the customer journey with Wipro Digital's ability to design and build experiences at global scale," a statement said. Together, the companies will provide bespoke and effective solutions for the marketing suite, it added. Rational Interaction helps brands create sustained CX program success...

Shriram Automall acquires Online Car Selling Portal

17Feb By AdityaNo Comments

ACQUISITION

Shriram Automall acquires Online Car Selling Portal

Pre-owned vehicle exchange platform Shriram Automall India Ltd (SAMIL) has acquired BlueJack, an online car selling portal. The company did not disclose the financial details of the deal. With this acquisition, Shriram Automall targets to transact yearly over 1.2 million vehicles worth more than Rs 30,000 crore. At present 70 lakh used cars are sold in India every year and the market is expected to be valued at Rs 50,000 crore in 2022, the company said in a statement. Commenting on the acquisition, Shriram Automall CEO Sameer Malhotra said, "Together, we believe we can offer the best auction experience for our Indian market with innovative technology."The deal will give over 10 million customers of SAMIL, on its physical and online bidding platforms, and its affiliates additional ...

12Feb By PriyankaNo Comments

ACQUISITION

GoDaddy Acquires Uniregistry and its Marketplace

SCOTTSDALE, Ariz., Feb. 11, 2020-- GoDaddy Inc is acquiring Uniregistry's leading domain registrar and marketplace businesses. Financial details of the transaction were not disclosed. The deal is expected to close sometime in Q2 2020. The Uniregistry domain registry is not part of the transaction. Uniregistry started in 2014 by catering to domain name investors with specialized tools to register, manage and sell domains. They later expanded its service to other audiences while still focusing on domain name investors. "Uniregistry is unique in that domain investors built it from the ground up so their products and services have always catered to the domain investor community," said GoDaddy Vice President Paul Nicks. "This acquisition reinforces GoDaddy's commitment to domain inves...

Facebook Acquire AI Location Accuracy Startup Scape Technologies

10Feb By AdityaNo Comments

ACQUISITION

Facebook Acquire AI Location Accuracy Startup Scape Technologies

Facebook has acquired computer vision start-up Scape Technologies. The deal for London-based Scape could be around $40M, according to the report, and it says filings indicate that Facebook has more than 75% of the company. They also indicate that VC representatives on Scape's board have been replaced by two Facebook execs. Scape allows developers to build apps that call for location accuracy better than that offered by GPS, using a "visual positioning service." While it focused initially on augmented reality, Scape is looking to enable any camera to understand its surroundings." "Rather than rely on 3D maps built and stored locally, Scape's visual engine builds and references 3D maps on the cloud, allowing devices to tap into a ‘shared understanding’ of an environment. The ...

Square Yards Acquires Rental & Property Management Firm Azuro

6Feb By AnkitaNo Comments

ACQUISITION

Square Yards Acquires Rental & Property Management Firm Azuro

Property brokerage firm Square Yards, which is backed by Anil Ambani-led Reliance Group, has acquired Mumbai-based rental platform Azuro as part of its expansion plan. Founded in 2016 by IIT Bombay alumni Altaf Ahmad, Sushant Kumar, Sudhanshu Mishra, Ayush Agrawal and Vishal Chauthmal, Azuro offers rental and property management solutions. It helps in finding a tenant, background checks, automated rent collection, property maintenance and tenant exits. The entire team of Azuro, including its co-founders, has joined Square Yards and will continue to operate under the larger umbrella with the same brand name. Square Yards founder and CEO Tanuj Shori said, "Square Yards is building an integrated intermediary ecosystem for the real estate industry and this requires the best of technol...

Cognizant acquires US based Code Zero Consulting

4Feb By AnkitaNo Comments

ACQUISITION

Cognizant acquires US based Code Zero Consulting

Cognizant has acquired US-based Code Zero Consulting for an undisclosed amount, a move that will help the IT major enhance its expertise in Salesforce platform advisory, implementation and managed services. The acquisition of Code Zero enriches our cloud offerings, brings deep domain expertise to our clients and further strengthens our strategic relationship with Salesforce.com, Brian Humphries, CEO of Cognizant, said. Founded in 2016, Atlanta-based Code Zero Consulting is a privately-held provider of consulting and implementation services for cloud-based configure-price-quote (CPQ) and billing solutions. "The acquisition further strengthens Cognizant's cloud solutions portfolio and Salesforce CPQ and billing capabilities," as per a company statement. Financial details of the t...

Platinum Equity Acquires Cision Ltd for $2.7 Billion

1Feb By AnkitaNo Comments

ACQUISITION

Platinum Equity Acquires Cision Ltd for $2.7 Billion

CHICAGO, Jan. 31, 2020 -- Cision Ltd., a leading global provider of software and services to public relations and marketing communications professionals acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.7 billion. "Cision is well established as the industry standard platform for communications professionals navigating an increasingly complex environment," said Platinum Equity Chairman and CEO Tom Gores. "This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources and M&A support to help the company maximize its potential." As of January 31, 2020, Cision is a privately held company. Cision shares ceased trading on the New York Stock...