ACQUISITION | Pixr8 News

Elara acquires home rental platform FastFox for nearly $14.5 million

1Apr By AdityaNo Comments

ACQUISITION

Elara acquires home rental platform FastFox for nearly $14.5 million

Elara Technologies, which owns three realty portals Housing.com, PropTiger and Makaan has acquired home rental brokerage platform FastFox.com at a valuation of nearly Rs 100 crore as part of its growth plans. After this acquisition, Singapore-based Elara entered into the online-to-offline home rentals space that has a market size of over Rs 20,000 crore. About Elara Technologies funding, the realty market based platform has raised $105 million so far from investors as equity. It also raised $35 million debt last year for organic and inorganic growth. "Until now we were in the home rentals market through listings on both our platforms, Housing.com and Makaan.com. With this acquisition, we will now provide end-to-end on-ground assistance to both landlords and tenants in collaborati...

Daimler AG buys Majority Stake in Self driving trucks startup Torc Robotics

30Mar By AnkitaNo Comments

ACQUISITION

Daimler AG buys Majority Stake in Self driving trucks startup Torc Robotics

Daimler AG going to acquire a majority stake in self-driving truck Torc Robotics to develop autonomous truck vehicles. The Financial terms of the deal were not disclosed. Based in Blacksburg, Virginia, Torc will help Daimler to accelerate software development by giving the German manufacturer access to 120 skilled staff, Daimler Trucks Chief Executive Martin Daum said. “You cannot have enough expertise in this area. Our Achilles’ heel is the ability to quickly develop software,” Daum said. Torc has developed technology that allows vehicles to operate at a high level of automation, known as level 4, helping Daimler to accelerate its own plans for commercialising self-driving vehicles.Torc’s Level 4 system has been shown to operate well for both urban and highway driving in rain, ...

27Mar By PriyankaNo Comments

ACQUISITION

Milkbasket acquires Veggie India

Daily grocery delivery start-up Milkbasket has acquired Noida-based Veggie India for an undisclosed amount. As per the deal, all Veggie India employees, including founders Jainendra Upadhyay and Shailendra Upadhyay, will join Milkbasket. "The acquisition is in line with our growth plans for 2019 and adds further strength and distribution capabilities to the existing business," Milkbasket co-founder and Chief Executive Officer Anant Goel said in a statement. Veggie India, operated by Ocado Garden Fresh Pvt Ltd, is an online grocery delivery platform founded last year. The company has presence in Noida and Ghaziabad. "Jainendra and Shailendra have done a remarkable job with Veggie India, and within a year of operations, the company has acquired substantial business in their region ...

Spotify to Acquire Parcast, a Premier Podcast Storytelling Studio

26Mar By PriyankaNo Comments

ACQUISITION

Spotify to Acquire Parcast, a Premier Podcast Storytelling Studio

NEW YORK-- Spotify Technology S.A. (NYSE:SPOT), the world’s most popular audio streaming subscription service, today announced that it has entered into a definitive agreement to acquire Parcast, a premier storytelling-driven podcast studio. Terms of the transaction were not disclosed. Since its founding in 2016, Parcast has launched 18 premium podcast series. Parcast will bring to Spotify its curated library of highly produced shows and its engaged, loyal audiences. With expertise in genres touching mystery, crime, science fiction, and history, Parcast has shown it has depth in subject matter and the ability to develop audiences across its robust network. Additionally, Parcast has more than 20 new shows slated to launch later this year. “The addition of Parcast to our growing roster ...

Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East

26Mar By reutersNo Comments

ACQUISITION, MIDDLE EAST

Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East

SAN FRANCISCO (Reuters) - Global ride-hailing firm Uber will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. Uber said it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem. The long-expected agreement ends more than nine months of start-and-stop negotiations between the two companies and hands Uber a much-needed victory after a series of overseas divestments. The notes will be convertible into Uber shares at a price equal to $55 apiece, Uber said, marking about a nearly 13 percent increase over Uber’s share price in its last financing round, led by SoftBank Group Corp more than a year ago. The acquisition makes ...

BlackRock acquires eFront in $1.3 billion Cash

25Mar By AdityaNo Comments

ACQUISITION

BlackRock acquires eFront in $1.3 billion Cash

NEW YORK & PARIS- BlackRock today announced that it has made a binding offer and entered into an exclusive agreement, subject to the conditions below, to acquire 100% of the equity interests in eFront, the world’s leading end-to-end alternative investment management software and solutions provider, from private equity firm Bridgepoint and eFront employees, for $1.3 billion in cash. The combination of eFront with Aladdin, BlackRock’s investment operating platform used by more than 225 institutions around the world, will set a new standard in investment and risk management technology. eFront, which serves more than 700 clients in 48 countries, is a comprehensive technology solution for managing the alternatives investment lifecycle, from due diligence and portfolio planning to pe...

Pine Labs acquires Qwikcilver for $110 Million

23Mar By Ankita SinghNo Comments

ACQUISITION

Pine Labs acquires Qwikcilver for $110 Million

Payment and gift card technology firm Pine Labs to acquire its peer firm Qwikcilver for USD 110 million. The transaction has been funded from the company's cash reserves and additional funding from existing investors, it added. "According to market estimates, gift, as a category, is growing at a high double-digit rate annually. Qwikcilver's technology and market expertise will help us scale up this business and we are delighted to welcome it into Pine Labs," said Vicky Bindra, chief executive officer, Pine Labs. Qwikcilver, which was founded in 2006, offers nine out of every 10 gift cards in the country and manages an annualised gross transaction value of USD 1.5 billion across India, Middle East and South East Asia. Pine Labs started its own gift solutions business - Pine Perk...

Tech Mahindra to acquire K-Vision for USD 1.5 mn to expand 5G business

18Mar By Press Trust of IndiaNo Comments

ACQUISITION

Tech Mahindra to acquire K-Vision for USD 1.5 mn to expand 5G business

New Delhi: IT company Tech Mahindra will acquire Japan-based mobile network solution firm K-Vision for USD 1.5 million in an all-cash deal to support 4G and 5G telecom network roll out in Japan. "The investment committee of the board of directors of the company has approved the proposal to acquire 100 per cent shareholding in M/s K-Vision Co., Ltd through its wholly owned subsidiary ie Mahindra Engineering Services (Europe) Limited," Tech Mahindra said in a note. K-Vision provides network services for mobile communications to telecom operators in Japan. The company earned revenue of USD 4.8 million during 12-month period ended January 31, 2019. "Tech Mahindra through its wholly owned subsidiary...intends to leverage the local presence and expertise of K-Vision to build its ne...

Facebook shares drop as Executives quit, Christchurch live-stream shooting stirs outrage

16Mar By reutersNo Comments

ACQUISITION, News

Facebook shares drop as Executives quit, Christchurch live-stream shooting stirs outrage

Shares of Facebook Inc fell as much as 5 percent on Friday to their lowest in nearly three months after the surprise departure of Chief Product Officer Chris Cox, at a time when the company is again being scrutinized over its handling of privacy, extremism and political content. Cox, a Wall Street favorite who has worked with Facebook founder Mark Zuckerberg for 13 years, led the social network’s business development team and helped define the business model of its messaging service WhatsApp. “We believe Cox played a critical role in establishing FB’s mission, values, and culture, and he was extremely well-regarded inside and outside the company, including by Wall Street,” JPMorgan analysts wrote in a research note. Also departing is WhatsApp Vice President Chris Dan...

16Mar By AdityaNo Comments

ACQUISITION

HH Global Acquires Alecom

Alecom, a print and luxury brand marketing services provider, has been acquired by HH Global, in a deal agreed on 28 February 2019. HH Global Ltd., founded in 1991, is a leading, independent marketing execution partner to prominent brands in 44 countries. The company offers innovative and tailored solutions for the outsourced procurement of all types of printed marketing materials and creative production services, that drive down cost, speed time to market, improve quality, and increase sustainability. Alecom was established in 2000 and supports both corporate and luxury brands including Boiron, Dior, Hermes, Cartier and Tag Heuer. The acquisition will deliver significant value to the clients of both HH Global and Alecom, through the strength of their combined proposition...

Ebix offers $336 Million to acquire Yatra.com

13Mar By PriyankaNo Comments

ACQUISITION

Ebix offers $336 Million to acquire Yatra.com

US-based software firm Ebix Inc Monday said it has offered to acquire Yatra Online Inc, the parent company of online travel firm Yatra.com, for $336 million (over Rs 2,345 crore). The company has sent a letter to the Board of Yatra Online, Inc outlining offer to acquire 100 per cent of the outstanding stock of Yatra Online for $7 per share on a debt-free basis, Ebix Inc said in a statement. Gurugram-based Yatra.com is a major player in the online travel sector and provides services including domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services. Ebix intends to merge Yatra Online in the company's Indian EbixCash subsidiary set up, it added."The Ebix offer, based on approximately 48 milli...

NVIDIA beats Intel and Microsoft, acquire Mellanox for $6.9 Billion

12Mar By AdityaNo Comments

ACQUISITION

NVIDIA beats Intel and Microsoft, acquire Mellanox for $6.9 Billion

Tech-based company NVIDIA will acquire Mellanox for approx $6.9 billion beating other tech giants like Microsoft and Intel in the acquisition race. As per the report, NVIDIA will acquire all of the issued and outstanding common shares of Mellanox for $125 per share in cash. The deal will complete in the end of 2019. In the media report, Microsoft was interested in the acquisition of Mellanox. Then Intel came into the picture, looking to buy it for around $6 billion but in the end, NVIDIA emerged on the last day offer higher bid a $7 billion+ all-cash and seal the deal. The acquisition will unite two of the world’s leading companies in high performance computing (HPC). Together, NVIDIA’s computing platform and Mellanox’s interconnects power over 250 of the world’s TOP500 supercomp...