ACQUISITION | Pixr8 News

13Aug By PriyankaNo Comments

ACQUISITION

Ola Acqui-hires AI Startup Pikup.ai

Cab aggregator Ola acqui-hiring' Pikup.ai, an artificial intelligence (AI) startup based out of Bengaluru. Acqui-hiring is a term for acquisition plus hiring. As part of the deal, the team at pikup.ai will join Ola, the company said in a statement. Ola announced earlier this year its intent to set up an advanced technology centre in the San Francisco Bay area in the US, to focus on developing next-generation technologies in mobility like Electric, Connected and Autonomous Vehicles. "By bringing deep domain expertise to Ola, this acquihire will also deliver innovations that continue to improve safety and transform customer experience," Ola said. Pikup.ai was co-founded by Inder Singh and Ritwik Saikia, which uses autonomous technologies like AI, computer vision and sensor fusion...

13Aug By AdityaNo Comments

ACQUISITION

Tumblr Got Acquired by WordPress Owner

Blogging website Tumblr is going to acquire by Automattic Inc., the owner of popular online-publishing tool WordPress.com. Currently, Tumblr is owned by Verizon Communications Inc. the parent company of Yahoo. Verizon acquired Tumblr in 2013 for $1 billion. As per the sources, the current acquisition price is just a $20 million, a big loss for Verizon. Tumble was popular as a porn blog app between users. Once the hottest game in town now in the dust because a recent decision to ban porn from the platform has had a marked negative impact on Tumblr's traffic. According to the data, first-time users for Tumblr’s mobile app declined 33% year-over-year last quarter. “Today’s announcement is the culmination of a thoughtful, thorough and strategic process,” said Verizon Media CE...

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

13Aug By Ankita SinghNo Comments

ACQUISITION

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

Indian IT company Tech Mahindra will pay USD 70 million (about Rs 490 crore) to acquire 65 percent stake in US-based strategic design consultancy firm Mad*Pow. "We are buying 65 percent upfront and for that 65 percent we are paying about USD 70 million and the balance 35 percent will be acquired subsequently from the management team and the founders...," Vivek Agarwal, head for corporate development & BFSI at Tech Mahindra Limited, said in a call with analysts. The company announced plans to acquire Mad*Pow on July 30. Tech Mahindra MD and CEO CP Gurnani said Mad*Pow is a 70-people strong organisation with capability in customer experience, human center design and understanding of behavioral science which will give Tech Mahindra a significant edge in digital transformation pro...

Saudi Oil Company Aramco Acquires 20% Stake in Reliance Refinery for $75 bn

12Aug By NitishNo Comments

ACQUISITION, MIDDLE EAST

Saudi Oil Company Aramco Acquires 20% Stake in Reliance Refinery for $75 bn

Mukesh Ambani the owner of Reliance group announced that Saudi oil giant Aramco has agreed to take a 20 percent stake in his flagship Reliance Industries' oil refinery and chemical business at an enterprise value of USD 75 billion (around Rs 5,32,466 crore). Making the announcement at Reliance Industries' 42th annual general meeting, he said this would be the biggest foreign investment in the history of the company. As part of the deal, Saudi Aramco will supply 500,000 barrels per day or 25 million tonnes per annum, of crude oil to Reliance's twin refineries at Jamnagar in Gujarat. Saudi Aramco will take 20 percent stake in a proposed special purpose vehicle (SPV) housing the twin refineries of Reliance as well as the firm's petrochemical complex. The Saudi national oil company...

Dineout Acquires Food Tech Platform Binge Digital

10Aug By AdityaNo Comments

ACQUISITION

Dineout Acquires Food Tech Platform Binge Digital

Restaurant technology solutions firm Dineout has acquired Delhi-based food tech platform Binge Digital. The acquisition is in line with Dineout's latest product announcement Dine-In, the company said in a statement. The financial details of the deal were not disclosed. The founding members of Binge Digital Naman Jain, Prakhar Agarwal, and Preksha Singla have joined the Dineout team, it added. "We are happy and excited to announce the acquisition of Binge Digital which through its cutting edge technology will enable us to bolster our product portfolio, especially the newly launched digital menu product Dine-In," said Dineout Chief Executive Officer and co-founder Ankit Mehrotra. This is Dineout's fourth acquisition after in Resto, Gourmet Passport and Torqus to further accelerat...

8Aug By PriyankaNo Comments

ACQUISITION

NIKE acquires AI driven Startup Celect

BEAVERTON, Ore.-- NIKE, has acquired Celect, a leading retail predictive analytics and demand sensing firm based in Boston. Celect is Nike’s latest acquisition fueling its Consumer Direct Offense strategy, serving consumers personally at a global scale. “With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.” said Eric Sprunk, NIKE, Inc. Chief Operating Officer. “As demand for our product grows, we must be insight-driven, data optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.” Celect, founded in 2013, holds a cutting-edge intellectual property portfolio across data science and software engineering. Celect’s cloud-based analytics platform...

Mitsubishi UFJ Financial acquires stakes in Dr Reddy, Tata Global Beverages & Others

7Aug By NitishNo Comments

ACQUISITION

Mitsubishi UFJ Financial acquires stakes in Dr Reddy, Tata Global Beverages & Others

Japanese Financial group Mitsubishi UFJ (MUFG) has acquired significant stakes in several Indian firms, including Dr Reddy's, Tata Global Beverages, Godrej Consumer and Marico through the acquisition of entities that hold shares of the companies. The acquisitions of indirect stakes in different companies follow MUFG's acquisition of First State Investments (UK), First State Investments (Singapore) Colonial First State Asset Management (Australia), First State Investments Ltd, Mitsubishi UFJ Trust and Banking Corporation and Mitsubishi UFJ Kokusai Asset Management on August 2. These entities held stakes in the said companies, according to separate regulatory filings. Godrej Consumer Products Ltd (GCPL) said following the transaction, MUFG has an aggregated interest of 5.47 percent....

Reliance acquires Fynd Stake For $42.33 million

5Aug By AnkitaNo Comments

ACQUISITION

Reliance acquires Fynd Stake For $42.33 million

India's leading telecom and oil company Reliance Industries Ltd proposes 87.6% stake buyout in Shopsense Retail Technologies, also known as Fynd, for $42.33 million. Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of the company, has entered into an agreement for the acquisition of shares of Shopsense Retail, Reliance Industries Ltd (RIL) said in a regulatory filing. Reliance also mentioned in filling that it has an option to further invest up to 1 billion rupees by December 2021 in Fynd, a software technology company formed in September 2012. Reliance Industries already runs retail stores and has announced plans to diversify into e-commerce. Recently, eCommerce company Amazon is in talks with Reliance's retail unit to buy a stake in its re...

Automation Anywhere acquires Paris based Klevops

2Aug By PriyankaNo Comments

ACQUISITION

Automation Anywhere acquires Paris based Klevops

Automation Anywhere, a provider of robotic process automation (RPA), has acquired Paris-based Klevops. However, Automation Anywhere didn't disclose the deal amount. RPA technology refers to the use of software robots (bots) to automate business processes that are currently managed manually by human workers. "With the acquisition, Automation Anywhere fast forwards the RPA category to Attended Automation 2.0, where managers can easily orchestrate workstreams across a team of employees and bots, driving a higher level of employee productivity and improved customer experience," a statement said. The acquired technology from Klevops will alter the dynamics between attended and unattended automation, making it a foundational solution for companies scaling their automation initiatives ac...

Yes bank acquires 18.5% stake of Cox & Kings

27Jul By AdityaNo Comments

ACQUISITION

Yes bank acquires 18.5% stake of Cox & Kings

Global leading bank group Yes Bank has acquired 18.55 percent stake in Cox & Kings by invocation of pledged shares. The bank has invoked pledge on 3.27 crore equity shares having a nominal value of Rs 5 per share, constituting 18.55 percent of the post-issue paid-up share capital, of Cox & Kings, Yes Bank said in a regulatory filing. Cox & Kings Limited has a consolidated turnover revenue of Rs 5,693.5 crore as on March 31. Besides, the bank invoked pledge on 34,080 equity shares having nominal value of Rs 10 per share, constituting 30 percent of an unlisted company Ezeego One Travel & Tours Limited. In another filing it said, the bank in ordinary course of its business continues to explore various means of raising capital or funds through issuance of securities...

Media Platform Thomson Reuters Acquires HighQ

22Jul By PriyankaNo Comments

ACQUISITION

Media Platform Thomson Reuters Acquires HighQ

LONDON, July 22, 2019-- Thomson Reuters has acquired HighQ, a leading collaboration platform for the legal and regulatory market. After this acquisition, HighQ team will join Reuters office. The amount of the deal has not disclosed yet. Based in London with offices in the United States, Germany, the Netherlands, Australia and India, HighQ offers a secure cloud-based platform for business collaboration, workflow automation, and client engagement. HighQ currently serves more than 400 customers, including more than half of the Global 100 largest law firms. Thomson Reuters provides its customers with solutions that help them generate more efficiencies, lower costs, improve accuracy and reduce risk. This acquisition will expand on the company's strategic objective to provide more...

18Jul By AnkitaNo Comments

ACQUISITION

Visa acquires Payment Gateway Payworks

Munich, Germany & San Francisco, United States: Visa has acquired Payworks, a Munich-based provider of next-generation payment gateway software for the Point of Sale (POS). Visa will bring Payworks’ cloud-based solution for in-store payment processing together with its CyberSource digital payment management platform to create a fully integrated payment acceptance solution for merchants and acquirers. The joint offering will provide acquirers and payment service providers with a modern, fully white-labeled omnichannel payment management platform. The combined capability will enable Visa’s clients to offer a unified payment experience whether their customers are paying in-store, in-app or online. The acquisition builds on a strategic partnership and investment Visa made in Pay...