ACQUISITION | Pixr8 News

Wipro acquires global digital engineering and manufacturing group ITI

10Jun By AdityaNo Comments

ACQUISITION

Wipro acquires global digital engineering and manufacturing group ITI

Milford, Cincinnati, United States: Wipro a leading Indian information technology, consulting and business process services company announced that it has acquired International TechneGroup Incorporated (ITI), a global digital engineering and manufacturing solutions company. ITI is a world leader in Computer Aided Design (CAD) and Product Lifecycle Management (PLM) interoperability software services. Through its key solutions for Model Based Enterprise (MBE), data interoperability and data migration, ITI provides the building blocks for Industry 4.0, to help build ‘next generation’ digital enterprises. Founded in 1983, ITI group provides software products and services to some of the world’s leading manufacturers across aerospace, automotive, healthcare, and other segments. ITI has lon...

Anil Ambani’s Reliance Group will sell its stake in Big FM

28May By PriyankaNo Comments

ACQUISITION

Anil Ambani’s Reliance Group will sell its stake in Big FM

Reliance Broadcast Network Ltd (RBNL), which operates Big FM radio channels, to Jagran Prakashan-owned Music Broadcast Ltd (MBL) for an enterprise value of Rs 1,050 crore, a statement said Monday. The board of MBL, which operates under the brand name of Radio City, on Monday approved the acquisition of RBNL, a Reliance Group company. Meanwhile, Reliance Capital and Reliance Land (part of the Reliance Capital Group) announced to divest their equity stake in RBNL to MBL, which would help them to reduce their loan burdens, the statement said. This deal will make MBL, which currently operates 39 channels, the largest private FM Channel operator. RBNL has 58 stations. Only 40 RBNL FM stations, which are part of the transaction, will be transferred to MBL. So, post the deal, MBL will...

22May By AdityaNo Comments

ACQUISITION

Snapdeal set to acquire Shopclues

New Delhi: Online e-commerce platform Snapdeal is in talks to acquire rival ShopClues in a deal likely to be pegged around $200-$250 million, according to sources. Snapdeal has started the due-diligence process and is likely to take a call on the acquisition over the next few weeks, the sources close to the development said. When contacted, a Snapdeal spokesperson declined to comment, while ShopClues said the company does not comment on market rumours. The two e-commerce companies have engaged in such discussions in the past as well, but this is the first time that it has made it to the due-diligence phase. The deal will be an all-stock deal and is expected to be valued between $200 and $250 million, the sources added. ShopClues' investors, including Singapore’s sovereign we...

Canva acquires Pixabay & Pexels, rolls out Netflix style subscription model

21May By NitishNo Comments

ACQUISITION

Canva acquires Pixabay & Pexels, rolls out Netflix style subscription model

Acquires two of the world’s biggest free stock content sites Pexels and Pixabay; over 1 million additional free images and vectors will be discoverable inside Canva Also rolls out affordable “Netflix-style” subscription model, Photos Unlimited, to challenge traditional stock photography services Sydney, Australia- Online design and publishing platform Canva making an additional collection of more than 1 million free stock photos, vectors and illustrations discoverable in Canva by joining forces with Pexels and Pixabay, and the launch of Photos Unlimited, a new “Netflix-style” subscription model for more affordable paid stock photography. Melanie Perkins, CEO, and co-founder at Canva said, that with the rise of design literacy, people needed more options for stock content to suit t...

Spencer’s Retail acquire Nature’s Basket for $43 million

20May By Press Trust of IndiaNo Comments

ACQUISITION

Spencer’s Retail acquire Nature’s Basket for $43 million

Sanjiv Goenka Group's Spencer's Retail said it will acquire Godrej Industries' grocery chain Nature's Basket for $43 million (around Rs 300 crore). Nature's Basket's acquisition will make Spencer's Retail a national player, giving it access to the western parts of India through its 36 stores in prime locations in Mumbai, Pune and Bangalore. "...The Board of Directors of the company...has approved a proposal for acquisition of entire 100 per cent stake held by Godrej Industries Ltd in its wholly owned subsidiary Nature's Basket Ltd, subject to requisite approval of the shareholders of the company and execution of a share purchase agreement for undertaking the transaction contemplated above."This acquisition will bring in many synergies in Spencer's business and fits in well with Spencer'...

IBS Software to acquire market leader in aviation software

20May By NitishNo Comments

ACQUISITION

IBS Software to acquire market leader in aviation software

IBS Software (IBS) has entered into a multi-million dollar pact with Massachusetts-based Kronos Incorporated to acquire AD OPT, a market leader in aviation software. The crew planning and optimisation platform of AD OPT powers some of the top airlines in the world, including Air Canada, EasyJet, Emirates, FedEx, Garuda, Lion Air, and Qantas, a press release said here Sunday. The acquisition is an integral part of Thiruvananthapuram-headquartered IBSs growth strategy to become the leading technology provider to the airline industry, the release said. Earlier, the company had made six acquisitions three in USA, two in Europe and one in India. AD OPT, founded in 1987 in Montreal, Canada, was acquired in 2004 by Kronos, a multinational workforce management software and services com...

13May By AdityaNo Comments

ACQUISITION

Visa Acquires Control of Earthport

London, United Kingdom & San Francisco, United States: Visa Inc acquired control of Earthport, a company that provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network. Currently, Visa enables payments to be sent to or from Visa cards. The acquisition will make it possible for Visa clients to enable individuals, businesses and governments to utilize Visa to send and/or receive money through bank accounts around the world. With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world’s banked population and allow them to easily, quickly and securely move money worldwide. Nearly $80 trillion (US) of money is sent via a wire transfer or bank account globally to...

Edgewell to buy shaving startup Harry’s for $1.37 bln

11May By reutersNo Comments

ACQUISITION

Edgewell to buy shaving startup Harry’s for $1.37 bln

May 9 (Reuters)- Edgewell Personal Care Co, the owner of Schick and Wilkinson razor brands, plans to make an offer to buy U.S.-based shaving startup Harry's for $1.37 billion in a cash-and-stock deal, the New York Times reported on Thursday. Harry's, founded by Andy Katz-Mayfield and Jeff Raider, is one of the many shaving startups vying for market share in the growing male grooming products arena. The market is currently dominated by Procter & Gamble Co's Gillette and Unilever Plc. The startup sells razors, shaving creams, lotions, soaps and other grooming products embossed with their quirky hairy elephant logo. Founders Katz-Mayfield and Raider will run Edgewell's operations in the United States if the deal goes through, according to the newspaper report. Edgewell Chief E...

RIL Acquires British Toy maker Hamleys for $88.6 Million

10May By NitishNo Comments

ACQUISITION

RIL Acquires British Toy maker Hamleys for $88.6 Million

New Delhi: Mukesh Ambani-led Reliance Industries announced it will acquire iconic British toy-maker Hamleys for 67.96 million pounds (around $88.6 million) in an all-cash deal. Hamleys, a 259-year-old toy-maker, has struggled to generate profits in recent times. It reported a profit after tax of 2.44 million pounds in 2018 after suffering a loss of 11.24 million pounds in 2017. It is currently owned by Chinese fashion conglomerate C Banner International, which had acquired it for 100 million pounds in 2015. C Banner also owns the Chinese units of marquee consumer retail brands such as Steve Madden and Sundance. "Reliance Brands Ltd, a subsidiary of Reliance Industries, and C Banner International Holdings, a Hong Kong-listed company, today signed a definitive agreement for Reliance...

8May By AnkitaNo Comments

ACQUISITION

Softbank Acquire more stakes in Yahoo

Softbank, Japanese telecom and leading investment company said it will spend USD 4 billion to acquire more stakes in Yahoo Japan. After this acquisition, Japan will hold nearly 45 percent stakes of Yahoo Japan. On Wednesday, the company releases its forecast report and mention that with the additional stake in Yahoo, its revenue will rise to 4.8 trillion yen ($43.6 billion) in this fiscal year. Softbank, the Japanese mobile subsidiary of Softbank Group Corp., listed its shares in December in Japan's largest-ever initial public offering, at more than 2 trillion yen ($18 billion). It now holds a 12 percent stake in Yahoo Japan, which will become a subsidiary of Softbank Corp. with the acquisition of a 36 percent stake in the internet company held by its parent. Softbank Corp. ...

OYO acquires Amsterdam-based Leisure Group for $415 mn

1May By PriyankaNo Comments

ACQUISITION

OYO acquires Amsterdam-based Leisure Group for $415 mn

India's online hotel room booking app OYO has acquired Amsterdam-based vacation rental company Leisure Group from Axel Springer for an estimated $ 415 million (over ₹ 2,885 crore). The acquisition will help OYO in realising its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry. Leisure Group is a leading vacation rental company in Europe and manages holiday homes, holiday parks and holiday apartments. As part of the deal, Leisure Group CEO Tobias Wann will join OYO’s leadership group as CEO, Vacation Homes, OYO Global, the statement said. Commenting on the development, OYO founder & Group CEO Ritesh Agarwal said, “We see vacation homes as a unique opportunity with 115,000 units of homes now getting added to our already gr...

Japanese Media Platform Nikkei acquired online media Deal Street Asia

26Apr By NitishNo Comments

ACQUISITION

Japanese Media Platform Nikkei acquired online media Deal Street Asia

TOKYO-- Japanese media platform Nikkei acquires a majority stake in DealStreetAsia, a Singapore-based online media startup. As per the press release, Deal street asia focus on corporate investment activity in Southeast Asia and India. The deal will enable the Japanese media group to deepen its coverage of the fast-growing Asian startup ecosystem and tech industries, Nikkei said in a news release. The terms of the transaction were not disclosed. Nikkei bought DealStreetAsia shares from existing investors SPH Ventures, North Base Media, Alpha JWC, K2 VC and SGAN, as well as from angel investors such as Paytm CEO and founder Vijay Shekhar Sharma and prominent American investor Jim Rogers. Indian business daily Mint, published by the Hindustan Times, will remain a mino...