ACQUISITION | Pixr8 News

Google to buy Wearables Maker Fitbit for USD 2.1 billion

1Nov By AdityaNo Comments

ACQUISITION

Google to buy Wearables Maker Fitbit for USD 2.1 billion

Google has agreed to buy Fitbit for USD 2.1 billion in a move giving the US tech giant entry into the wearable technology space, the two companies announced Friday. The move comes with Google seeking to expand beyond its core business of online search into hardware, and with Fitbit struggling against rivals including Apple. "We have built a trusted brand that supports more than 28 million active users around the globe who rely on our products to live a healthier, more active life," Fitbit co-founder and chief executive James Park said in a statement by the two firms announcing the deal. "Google is an ideal partner to advance our mission. Fitbit will be able to accelerate innovation in the wearables category, scale faster, and make health even more accessible to everyone. I could n...

31Oct By PriyankaNo Comments

ACQUISITION

Singapore Qoo10 acquires Indian eCommerce Platform Shopclues

Indian e-commerce firm ShopClues has inked an all stock-deal with Qoo10 to merge operations with the Singapore-based firm. The collaboration presents "new strategic opportunities for both companies as it opens up cross border opportunities for consumers and sellers across Asia", ShopClues said in a statement. While the terms of the deal were not disclosed, the development would come as a breather for the Indian e-commerce platform that has been struggling to control costs in the hyper-competitive online shopping segment in India. Qoo10 is an e-commerce platform in South East Asia that serves small and medium enterprises (SMEs) via its localized online marketplaces in Singapore, Indonesia, Malaysia, China, and Hong Kong. Qoo10 also has plans to expand into other Asian countries,...

31Oct By NitishNo Comments

ACQUISITION

Reliance Brands Raises Stake in Future101 Design

Reliance Industries Ltd (RIL) arm Reliance Brands has increased its stake in Future101 Design by 2.5 percent to 17.5 percent. "Reliance Brands Ltd, a subsidiary of the Company, has increased its equity shareholding in Future101 Design Private Limited (Future101) by 2.5 percent for a consideration of Rs 2 crore, taking its equity shareholding in Future1 01 to 17.5 per cent," RIL said in a statement. Luxury apparel firm Future101 reported annual turnover of Rs 27.91 crore, Rs 22.18 crore and Rs 20.85 crore in 2018-19, 2017-18 and 2016-17, respectively. No regulatory approvals were required for the said acquisition of shares, it said. The investment does not fall within related party transaction and none of the company's promoter or promoter group or group companies have interest ...

29Oct By AdityaNo Comments

ACQUISITION

Owner of Gucci Offered to Acquire Tiffany & Co for $14.5 billion

French luxury group LVMH has offered to buy Tiffany & Co. for USD 14.5 billion in cash, sending shares in the New York jewelers soaring. The purchase would add another household name to LVMH's plethora of upscale brands. It owns fashion names such as Christian Dior, Fendi, and Givenchy as well as watchmaker Tag Heuer. It would also give LVMH a much broader foothold in the United States and broaden its offerings in jewelry. LVMH cautioned in a brief statement that "there can be no assurance that these discussions will result in any agreement."Tiffany said the offer was for USD 120 a share, which is about USD 14.5 billion. The Wall Street Journal first reported on the offer over the weekend. The New York-based jewelry company said that it was considering the offer. Its ...

Airtel acquires Stakes in Vahan, Launched Startup Accelerator Program

25Oct By AdityaNo Comments

ACQUISITION

Airtel acquires Stakes in Vahan, Launched Startup Accelerator Program

Bharti Airtel has acquired stake in Bengaluru-based AI startup Vahan and also launched its first startup accelerator. Airtel's Startup Accelerator will enable early startups get access to Airtel's online and offline distribution network, deep market understanding and ecosystem of global strategic partners. Airtel developed in-house capabilities around machine learning and artificial intelligence which could be leveraged to aid the growth of startups. Airtel also announced the induction of Bengaluru-based tech startup Vahan into its Startup Accelerator Program. "Airtel will acquire a stake in Vahan and partner with them in building significant scale to achieve their vision of enabling jobs for the next billion internet users," the statement added. Founded in 2016, and backed...

Bitcoin.com Acquires Blockchain Startup O3 Labs

23Oct By PriyankaNo Comments

ACQUISITION

Bitcoin.com Acquires Blockchain Startup O3 Labs

JAPAN, TOKYO, October 23, 2019 — Bitcoin.com has acquires blockchain startup O3 Labs. The Tokyo-based software company that specializes in developing gateways to the digital economy. O3 Labs team join Bitcoin.com, forming a single team dedicated to creating tools for realizing the full potential of the Bitcoin Cash network. The two companies intend to work together to build the next generation of mobile financial services, which will bear the Bitcoin.com name. The strategic acquisition of O3’s blockchain and app development talent will allow Bitcoin.com to create intuitive and easy-to-understand user experiences that tie together Bitcoin.com, partners, and community financial service offerings across web, mobile, smart devices, and beyond. Stefan Rust, CEO of Bitcoin.com said...

Cashierless Store Operator Standard Cognition Acquires DeepMagic

12Oct By AdityaNo Comments

ACQUISITION

Cashierless Store Operator Standard Cognition Acquires DeepMagic

SAN FRANCISCO, Oct. 10, 2019-- Standard Cognition has acquired New York based startup DeepMagic. DeepMagic was founded by Bernd Schoner and Davi Geiger. Schoner will join Standard in a consulting capacity, to help manage the integration of DeepMagic’s technology into Standard’s platform. Standard Cognition was one of the first startups in the autonomous checkout space, and first to open a cashierless store in San Francisco. DeepMagic has developed strong computer vision technology that can identify individual items with outstanding accuracy and has deployed commercial systems in the US and Europe. The company also holds key patents dating back to 2016 covering important elements of autonomous checkout technology. “Both Standard and DeepMagic took a computer-vision only appr...

Hays Travel acquires 555 Uk Stores of Thomas Cook

10Oct By AdityaNo Comments

ACQUISITION

Hays Travel acquires 555 Uk Stores of Thomas Cook

The dismantling of Thomas Cook, with the sale of all 555 UK stores to a smaller rival of the collapsed holiday giant. Thomas Cook, which went bankrupt overnight last month, was the biggest holiday company in Britain with both a tour operator and airline division. Travel agent Hays Travel, which is mostly based in northern England, announced in statement that it has acquired the branch portfolio from the official liquidator for an undisclosed sum. The official receiver added Wednesday that Hays has already recruited 421 former Thomas Cook staff. Hays added in a separate release that it could potentially save up to 2,500 jobs and would seek to reopen some shops as soon as Thursday. And it also expects to create another 100 jobs at its headquarters in the city of Sunderland, no...

10Oct By NitishNo Comments

ACQUISITION

Infosys Acquihire Irish Firm Eishtec

Indian IT firm Infosys has entered into a strategic partnership with Eishtec under which 1,400 employees of the Irish firm will be transferred to Infosys BPM. "Infosys has entered into a strategic partnership with Eishtec, which includes the transfer of Eishtec's business to Infosys BPM, an Infosys company. This partnership does not entail the purchase of any equity," Infosys said in a regulatory filing. The partnership will enable Infosys to better serve its clients in the region, leveraging its deep expertise in technology, analytics, and digital, the statement added. Eishtec was established in 2011 and is one of Ireland's leading customer service providers and employs 1,400 people across Ireland. "The current management team of Eishtec will continue with the leadership of th...

Honda Acquires Drivemode, Developer of Apps for Drivers

10Oct By AdityaNo Comments

ACQUISITION

Honda Acquires Drivemode, Developer of Apps for Drivers

TOKYO, Japan, October 10, 2019 – Honda R&D, a research and development subsidiary of Honda has acquired California-based Drivemode in order to further strengthen Honda’s new value creation in the areas of digital and connected mobility products. With the acquisition, Drivemode became a wholly-owned subsidiary of Honda R&D. Drivemode is a startup that develops and operates smartphone-based connected services, excelling in multiple areas such as the development of the user interface and application as well as cloud-based technologies. Honda R&D and Drivemode have been collaborating and conducting joint development activities since 2015 through the Honda Xcelerator program*, an open innovation program Honda has been pursuing on a global basis*. In April 2019, Honda n...

Thomson Reuters Acquires FC Business Intelligence

5Oct By AdityaNo Comments

ACQUISITION

Thomson Reuters Acquires FC Business Intelligence

TORONTO, Oct 5, 2019-- Thomson Reuters has acquired FC Business Intelligence (FCBI), a global business-to-business events specialist. FCBI delivers high-end conferences and exhibitions to diverse sectors including energy, insurance, pharmaceuticals, transportation, travel, strategy and technology. Its offerings help senior business professionals stay at the forefront of change through insight sharing and networking with peers. The business will be rebranded Reuters Events and will be operated as part of the Reuters News division of Thomson Reuters. "This acquisition allows us to combine Reuters globally trusted brand, scale and editorial excellence with FCBI's deep expertise in highly specialized events for professionals," said Michael Friedenberg, president, Reuters. "...

Automation Platform Jaunt XR Acquired by Verizon

2Oct By AdityaNo Comments

ACQUISITION

Automation Platform Jaunt XR Acquired by Verizon

Jaunt XR announced the acquisition of its software, technology, and certain other assets by Verizon Communications Inc for an undisclosed amount. Jaunt has raised over $100 million in venture funding from Disney, Google's venture arm GV, Evolution Media Partners, CMC, Highland Capital Partners, and RedPoint Ventures. Jaunt XR is a leader in the immersive industry with a focus on the scalable creation and distribution of volumetric video of humans. “We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.” Jaunt will be assisting Verizon with the transition of select portions of the software and technology for a brief...