ACQUISITION | Pixr8 News

21Jul By NitishNo Comments

ACQUISITION

Byju’s acquires Epic for $500 mn

California, Jul 21, 2021: Edtech platform Byju's has acquired US-based digital reading platform Epic for USD 500 million (around Rs 3,729.8 crore). After the acquisition, Byju's will also invest an additional USD 1 billion (about Rs 7,459.7 crore) in the North American market. In a statement, Byju's said it has acquired Epic, a digital reading platform for kids aged 12 years and under, in a USD 500 million deal. The acquisition will help Byju's expand its footprint in the US by providing access to the more than two million teachers and 50 million kids in Epic's existing global user base, which has more than doubled over the last year, it added. Epic CEO Suren Markosian and co-founder Kevin Donahue will remain in their roles, the statement noted. Epic has a collection of ove...

YouTube acquired Indian video e-Commerce platform Simsim

20Jul By AdityaNo Comments

ACQUISITION

YouTube acquired Indian video e-Commerce platform Simsim

New Delhi, Jul 20th, 2021: YouTube said it will acquire Indian video e-commerce platform Simsim, as part of its efforts to help small businesses and retailers in India reach new customers. The detail of the transactions has not been disclosed. "We are taking another step to help viewers discover and buy products from local businesses, we have signed a definitive agreement to acquire Simsim and expect to complete the transaction in the coming weeks," Google said in a blogpost. There will be no immediate changes to Simsim and the app will continue operating independently, it added. YouTube is working on ways to showcase Simsim offers to YouTube viewers. In a joint statement, Simsim co-founders Amit Bagaria, Kunal Suri, and Saurabh Vashishtha said, "The platform was started to he...

Reliance Retail to acquire 40.95% stake in Just Dial

18Jul By PriyankaNo Comments

ACQUISITION

Reliance Retail to acquire 40.95% stake in Just Dial

Mumbai, Jul 18th, 2021: Reliance Retail Ventures Ltd (RRVL) will acquire a 40.95 percent stake in Just Dial for around $500 million to bolstering its digital services in India. Reliance investment in Just Dial is part of the conglomerate’s digital bet. Over the past many quarters, Reliance has announced a number of investments in companies like Netmeds, Urban Ladder, and others. RRVL the retail arm of Reliance Industries Ltd will also make a public announcement for an open offer for acquiring up to 2.17 crore equity shares of Just Dial (representing 26 percent share in the company), in accordance with Sebi Takeover Regulations, a regulatory filing said. Just Dial founder VSS Mani will continue as Managing Director and Chief Executive Officer to lead the company through the next p...

Amazon to acquire MGM Film Studio for $8.45 Billion

26May By AnkitaNo Comments

ACQUISITION

Amazon to acquire MGM Film Studio for $8.45 Billion

SEATTLE & BEVERLY HILLS, Calif., 26th May 2021-- Amazon (NASDAQ: AMZN) has announced that they are going to acquire MGM Holding for $8.45 billion. MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming. “MGM has a vast catalog with more than 4,000 films includingJames Bond, Robocop, Rocky, The Pink Panther, etc. as well as 17,000 TV shows that have collectively won more than 180 Academy Awards and 100 Emmys,” said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. “The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so man...

Foursquare Acquires Geospatial Analytics Platform Unfolded

20May By AnkitaNo Comments

ACQUISITION

Foursquare Acquires Geospatial Analytics Platform Unfolded

NEW YORK, 5/20/2021-- Foursquare announced the acquisition of Unfolded a next-generation platform for geospatial analytics. With the addition of Unfolded’s capabilities to the Foursquare technology stack, enterprises and brands can soon come to Foursquare to not only access its industry-leading location data, but work with that data in an integrated platform for merging, enriching, analyzing, and visualizing spatial data - in whatever environment they choose. “Welcoming Unfolded to the team makes the Foursquare platform more powerful, robust, and accessible to our clients and partners,” said Gary Little, President and CEO of Foursquare. “This acquisition accelerates us toward our ambitious goal of bringing Foursquare Everywhere, and enabling businesses to unlock the true potential of l...

Adani Green Energy to acquire SoftBank Energy India 5 GW Plant for USD 3.5 billion

19May By AnkitaNo Comments

ACQUISITION

Adani Green Energy to acquire SoftBank Energy India 5 GW Plant for USD 3.5 billion

AHMEDABAD, India, May 19, 2021-- Adani Green Energy Limited (AGEL) led by Gautam Adani has acquired 100% stakes in SB Energy India from Soft bank group (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction marks the largest acquisition in the renewable energy sector in India. The total deal valuation is approx USD 3.5 billion. The target portfolio consists large scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW). The portfolio comprises of 1,400 MW operational solar power capacity and a further 3,554 MW is under construction. All projects have 25 year PPAs with sovereign rated counterparties such as Solar Energy Corporation o...

Yahoo, AOL to be acquired by Apollo Funds for $5 billion

4May By AdityaNo Comments

ACQUISITION

Yahoo, AOL to be acquired by Apollo Funds for $5 billion

NEW YORK May 4, 2021 - Verizon media will be acquired by affiliates of Apollo the “Apollo Funds” for $5 billion. Verizon Media is comprised of iconic brands such as Yahoo and AOL, as well as leading ad tech and media platform businesses. Verizon will retain a 10% stake in the company, which will be known as Yahoo at the close of the transaction and continue to be led by CEO Guru Gowrappan. The corporate carveout will allow Verizon Media to aggressively pursue growth areas and stands to benefit its employees, advertisers, publishing partners and nearly 900 million monthly active users worldwide. “We are excited to be joining forces with Apollo,” said Guru Gowrappan, CEO, Verizon Media. “The past two-quarters of double-digit growth have demonstrated our ability to transform our me...

Reliance acquires Stoke Park for 57 million pounds

24Apr By AnkitaNo Comments

ACQUISITION

Reliance acquires Stoke Park for 57 million pounds

London, 4/24/2021: Reliance Industries Ltd has bought Britain's iconic country club and luxury golf resort, Stoke Park for 57 million pounds ($79,116,010). Over the past four years, Reliance has announced USD 3.3 billion in acquisitions, with 80 percent being in the technology, media, and telecom (TMT) sector. The acquisition adds to Reliance's current stake in Oberoi hotels and hotel-managed residences in Mumbai that it's developing. The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance's consumer and hospitality assets, the firm said in a filing late on Thursday. "Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share ...

Microsoft acquires Nuance Communications for $19.7 billion

12Apr By AnkitaNo Comments

ACQUISITION

Microsoft acquires Nuance Communications for $19.7 billion

Wash., and BURLINGTON, Mass. – April 12, 2021 – Software giant Microsoft has acquired Nuance Communications, Inc. (Nasdaq: NUAN) in an all-cash transaction valued at $19.7 billion. Nuance is a trusted cloud and AI software leader representing decades of accumulated healthcare and enterprise AI experience. Mark Benjamin will remain CEO of Nuance, reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft. The transaction is intended to close this calendar year. In 2020, Microsoft has accelerated its efforts to provide industry-specific cloud offerings Microsoft Cloud for Healthcare. Which aims to address the comprehensive needs of the rapidly transforming and growing healthcare industry. The latest acquisition announcement will help Microsoft’s industry-speci...

Byju’s acquires Aakash Institute for $1 billion

5Apr By AdityaNo Comments

ACQUISITION

Byju’s acquires Aakash Institute for $1 billion

As reported earlier by Pixr8 News, Edtech platform Byju's acquires India's leading engineering preparation coaching Akash Institute in a $1 billion cash and stock deal. AESL Managing Director Aakash Chaudhry said, "the transaction with Byju's is 60-65 percent cash and the remaining 35 percent are Byju's equity deal. The overall deal value is close to about USD 1 billion. This will be the largest integration in the education space in India, especially in the startup space. COVID has really opened the gates to online education significantly and going forward, we believe that all kinds of models in education will exist in K-12, test prep, and even in higher education". Blackstone Group and Aakash Educational Services Ltd (AESL) founders will hold a minority stake in Byju's, which is v...

Hitachi acquires GlobalLogic for $9.6 billion

2Apr By PriyankaNo Comments

ACQUISITION

Hitachi acquires GlobalLogic for $9.6 billion

TOKYO, March 04/02/2021— Japanese leading tech firm, Hitachi, Ltd. (TSE: 6501, “Hitachi”) acquire GlobalLogic, a leading U.S.-headquartered digital engineering services company for $9.6 billion. Through the acquisition, Hitachi expects the addition of GlobalLogic’s advanced digital engineering capabilities, and its solid client base including major technology companies, to strengthen the digital portfolio of “Lumada." Lumada is the name of Hitachi’s advanced digital solutions and services for turning data into insights that drive digital transformation of social infrastructure. The acquisition will accelerate the advanced digital transformation of social infrastructures such as rail, energy, and healthcare on a global scale. Headquartered in Silicon Valley, GlobalLogic is a l...

30Mar By PriyankaNo Comments

ACQUISITION

Dropbox to Acquire DocSend for $165 Million

SAN FRANCISCO, 03/30/2021-- Dropbox, Inc. (NASDAQ: DBX) to acquire DocSend, a secure document sharing, and analytics company with more than 17,000 customers for $165 Million. “Given the dramatic rise in remote work, there’s increased demand for digital tools that help people organize their content and seamlessly collaborate with each other,” said Dropbox Co-Founder and Chief Executive Officer, Drew Houston. “DocSend is a perfect complement to our product roadmap and we’re thrilled to welcome them to our team. By bringing Dropbox, HelloSign, and DocSend together, we’ll be able to offer a full suite of secure, self-serve products to help them manage critical document workflows from start to finish.” As work becomes more distributed, effective collaboration with external parties feels...