ACQUISITION | Pixr8 News

Trent to acquire stake in Booker India for $3 Million

24Sep By Press Trust of IndiaNo Comments

ACQUISITION

Trent to acquire stake in Booker India for $3 Million

Tata group's retail chain Trent Ltd will acquire 51 per cent stake in Booker India Pvt Ltd (BIPL) in a cash deal of around Rs 22 crore, a regulatory filing said. Trent in the filing to BSE on Tuesday said the acquisition would help in business expansion by adding six additional stores. "It is informed that the Company has agreed to acquire 51 per cent of the share capital of BIPL, for a consideration of Rs 22 Crores approximately. BIPL operations involve 6 stores," Trent said. BIPL operates five stores while its wholly-owned subsidiary Booker Satnam Wholesale operates one store. The company expects to complete the transaction by the end of October this year. BIPL had a turnover of Rs 238 crore for the financial year ended on March 31, 2019 and Rs 43 crore of Booker Satn...

Facebook Acquires Startup Working on to control Computers Using Brain

24Sep By PriyankaNo Comments

ACQUISITION

Facebook Acquires Startup Working on to control Computers Using Brain

Facebook acquires a startup working on ways to command computers or other devices using brain thought instead of taps, swipes, or keystrokes. CTRL-labs will become part of Facebook Reality Labs with an aim at perfecting the technology and getting it into consumer products, according to Andrew Bosworth, vice president of augmented and virtual reality at the California-based social network. "We know there are more natural, intuitive ways to interact with devices and technology," Bosworth said in a post at Facebook announcing the acquisition. "And we want to build them. The vision for this work is a wristband that lets people control their devices as a natural extension of movement." Bosworth explained that the wristband will decode electrical impulses such as those sent to ha...

Akamai Acquires Encrypted Communication firm KryptCo

24Sep By AdityaNo Comments

ACQUISITION

Akamai Acquires Encrypted Communication firm KryptCo

Akamai, the cloud based digital platform acquired KryptCo, creator of multi-factor authentication technology. KryptCo technology establishes an authenticated and encrypted communication channel, resistant to phishing while still offering a simplified user experience that does not require entering pin codes. This enables enterprises to implement multi-factor authentication, an increasingly critical enhancement to identity and access which are core tenets of zero trust, with the confidence the additional authentication factors are end-to-end verified and with minimal risk of phishing attacks. "Prevailing technologies in the industry that offer multi-factor authentication are still vulnerable to phishing and other attack vectors, making them easy to compromise and break ...

Shopify to Acquire Warehouse Firm 6 River Systems For $450 Million

17Sep By PriyankaNo Comments

ACQUISITION

Shopify to Acquire Warehouse Firm 6 River Systems For $450 Million

OTTAWA, Canada & WALTHAM, MA 17th September 2019- Shopify the leading multi-channel ecommerce platform looking to acquire warehouse firm 6 River Systems. Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately USD$450 million, consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares. Included in this amount are Shopify Class A shares and options valued at approximately $69 million that will be issued to 6 River Systems’ founders and employees that will vest subject to certain conditions and will be treated as stock-based compensation. In June, Shopify introduced the Shopify Fulfillment Network, a powerful and trusted fulfillment network that will ensure timely deliveries, lower shipping co...

McDonald’s to Acquire Apprente to Automate its Drive thrus Outlets

16Sep By NitishNo Comments

ACQUISITION

McDonald’s to Acquire Apprente to Automate its Drive thrus Outlets

CHICAGO, IL, September 16, 2019– McDonald to acquire Apprente, an early stage leader in voice-based, conversational technology. The deal advancing McDonald’s technology capabilities between employee and their customers. The announcement comes after extensive exploration with several parties, including evaluating Apprente’s solutions in McDonald’s test restaurants. Apprente was founded in 2017 in Mountain View, California, to create voice-based platforms for complex, multilingual, multi-accent and multi-item conversational ordering. In McDonald’s restaurants, this technology is expected to allow for faster, simpler and more accurate order taking at the Drive Thru with future potential to incorporate into mobile ordering and kiosks. “Building our technology infrastructure and digi...

15Sep By Press Trust of IndiaNo Comments

ACQUISITION

Visa Completes Acquisition of Verifi

San Francisco, United States: Visa has completed the acquisition of Verifi, a leader in technology solutions that reduce chargebacks. The acquisition of Verifi strengthens Visa’s role of facilitating trust and transparency across the buying experience by extending its dispute resolution capabilities to support a broad range of payments brands and partners across the ecosystem. The combination of Verifi’s best-in-class dispute resolution tools with Visa’s suite of risk and fraud management services will: Save valuable time and resources by connecting all parties in the dispute management process in near real-time to resolve disputes before they become chargebacks. Give buyers and sellers intelligent, data-driven tools that foster collaboration, build trust, and improve the over...

Spotify Acquires Audio Production Platform SoundBetter

14Sep By AdityaNo Comments

ACQUISITION

Spotify Acquires Audio Production Platform SoundBetter

New York, United States: Spotify Technology announced that it has acquired SoundBetter, a leading global audio production and collaboration marketplace helping creators worldwide connect and hire top audio professionals. Terms of the transaction were not disclosed. “As we build out our tools for creators, we want to give them the resources they need to thrive. SoundBetter has the same vision,” said Beckwith Kloss, VP Product, Creator at Spotify. “We're excited that creators can generate income through SoundBetter, as well as benefit from its network of top professionals - from instrumentalists to songwriters to producers - as they perfect their tracks.” SoundBetter taps into the growing market of audio professionals looking to create better sounding content and searching for partners...

Yahoo Japan to acquire Online Fashion Retailer Zozo

12Sep By AdityaNo Comments

ACQUISITION

Yahoo Japan to acquire Online Fashion Retailer Zozo

Yahoo Japan will acquire a majority stake in the online fashion retailer Zozo founded by billionaire Yusaku Maezawa, known for buying pricey art and his space travel plans. The Japanese IT giant, a subsidiary of telecoms giant and investor SoftBank Group, aims to buy up to 152.95 million shares or a 50.1 percent stake in Zozo. The cost of the acquisition will be as high as 400.7 billion yen ($3.7 billion), with Yahoo Japan offering a 21 percent premium over Zozo's Wednesday closing price. The deal includes an agreement to acquire 92.7 million shares from Maezawa, equivalent to the 30.37 percent he owns in Zozo. Maezawa, known for his extravagant lifestyle and eccentric comments, will step down as Zozo chief executive from Thursday. "I will leave Zozo's future in the hands of ...

Oyo Acquires Las Vegas Hooters Casino Hotel

25Aug By AdityaNo Comments

ACQUISITION

Oyo Acquires Las Vegas Hooters Casino Hotel

Las Vegas, August 23, 2019 — OYO, the world’s third-largest and fastest-growing online hotel booking platform acquires Hooters Casino Hotel. OYO has partnered with Highgate to create its first key flagship property in Las Vegas and name it as OYO Hotel & Casino Las Vegas. Located near the corner of the famed Las Vegas Strip on Tropicana, OYO Hotel & Casino provides 657 rooms across nineteen floors and a 35,000 square-foot casino. Additional amenities include two signature restaurants, four bars, a fitness center, and an outdoor pool. The property will undergo an exciting transformation to be completed this year, which will bring the dynamic OYO brand to life in the most recognizable tourist destination in the world. Highgate will assume management of the hotel, and Para...

Google Acquires Socratic, Launched iOS app

19Aug By AdityaNo Comments

ACQUISITION

Google Acquires Socratic, Launched iOS app

Socratic, an AI-based mobile learning app acquired by Google. The official announcement was made by the Socratic founder on his blog. A mail to Google by Pixr8 news has not been answered until publishing the article. After a quiet acquisition, Google has launched the iOS version of the Socratic today. AI technology based app to help high school and university students when they’re doing schoolwork outside the classroom. It guides them through the resources that are available online and identifies the core underlying concepts that will lead them to answers to their questions. Students can take a photo of a question or use their voice to ask a question, and the app will find the most relevant resources from across the web. If they’re struggling to understand textbook content ...

CoWrks acquires on-demand Workspace Startup The UnCube

15Aug By PriyankaNo Comments

ACQUISITION

CoWrks acquires on-demand Workspace Startup The UnCube

Leading co-working startup CoWrks announced the acquisition of The UnCube, which provides on-demand workspace solution. The development signals consolidation in the fast-growing co-working segment, which is accounting for 15-20 percent of the total office space leasing across major cities. Recently, Oyo acquired Innov8 to enter into this business. After the acquisition, Bengaluru-based CoWrks will now rename the entity to CoWrks Go. Currently, CoWrks has 25 operational centres and 25,000 members spread across 2 million sq ft area with presence in major cities. Founded by Sakshi Khanna in 2017, The UnCube provides co-working space for professionals on transit by partnering with restaurants and cafes. It currently has 2,500 members working across 200 locations in seven cities suc...

Blackstone Acquires Cafe Coffee Day Tech Park For up to Rs 3,000 cr

15Aug By PriyankaNo Comments

ACQUISITION

Blackstone Acquires Cafe Coffee Day Tech Park For up to Rs 3,000 cr

India's leading Coffee chain operator Coffee Day Enterprises announced sale of its Global Village Tech Park in Bengaluru to Blackstone for up to Rs 3,000 crore to cut its debt. The announcement comes weeks after Coffee Day Enterprises founder V G Siddhartha allegedly committed suicide. In a letter purportedly written by him, Siddhartha mentioned severe financial stress being faced by his group firms, among other issues. "The Board of Directors of the company...discussed methods of deleveraging the group. Towards the objective of deleveraging the board discussed and approved the disinvestment of Global Village Tech Park in its subsidiary, Tanglin Developments Ltd, in favour of Blackstone," Coffee Day Enterprises said in a BSE filing. "The transaction valuation is about Rs 2600-3000...