ACQUISITION | Pixr8 News

Zomato to sell UAE food delivery business for USD 172 mn

4Mar By Press Trust of IndiaNo Comments

ACQUISITION

Zomato to sell UAE food delivery business for USD 172 mn

Online restaurant guide and food ordering firm Zomato will sell its UAE food delivery business to Germany-headquartered Delivery Hero Group for about USD 172 million (nearly Rs 1,220 crore), one of the company's largest shareholders Info Edge said Monday. The Gurugram-based firm has also raised around USD 105 million in the ongoing round of funding, Info Edge said in a filing on the BSE. "As a result, upon closing, our shareholding in Zomato will be 26.38 per cent on a fully converted and diluted basis," it added. As part of the transaction, Zomato Media Pvt Ltd has entered into an agreement to sell its UAE food delivery business to Delivery Hero Group through its fully owned subsidiary Talabat Middle East Services Company LLC. The consideration for the transaction is about US...

Taboola acquire the Start to Support Mobile Operators

4Mar By AnkitaNo Comments

ACQUISITION

Taboola acquire the Start to Support Mobile Operators

Taboola, the world’s leading discovery platform acquire the Start Division of Celltick, a global leader in mobile discovery and engagement, which includes the Start and Start Magazine product lines. After the completion of the acquisition, the Start team and technology will integrate into the Taboola News division to bring premium publisher content on mobile devices. Taboola News has already integrated with several mobile phone manufacturers including ZTE and vivo and this deal will expand Taboola News to support tier 1 mobile operators as well as device manufacturers and app developers. Taboola News creates an opportunity for OEMs and mobile carriers to bring a feed of personalized information directly into mobile devices, creating a new revenue stream. Start Magazine and its ...

Reliance acquire Logistics Services platform Grab in $15 million

3Mar By AdityaNo Comments

ACQUISITION

Reliance acquire Logistics Services platform Grab in $15 million

RIL-arm Reliance Industrial Investments has entered into agreements to acquire logistics services platform Grab and software firm C-Square Info Solutions. Reliance Industries, in a regulatory filing, said its wholly owned subsidiary Reliance Industrial Investments and Holdings has entered into an agreement for acquisition of equity shares of Grab A Grub Services Private Limited ('Grab') for a cash consideration not exceeding Rs 106 crore. "RIIHL will further invest an amount of up to Rs 40 crore and is likely to be completed by March 2021. The total investment will translate into 83 per cent of equity capital in Grab on a fully diluted basis," RIL said. "The aforesaid investment will further augment the group's digital commerce initiatives and strengthen its logistics services, c...

After CCI Clearance, SoftBank Buys 22.44% stake in Indian Logistics Firm Delhivery

28Feb By AnkitaNo Comments

ACQUISITION

After CCI Clearance, SoftBank Buys 22.44% stake in Indian Logistics Firm Delhivery

The Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of 22.44 per cent stake in logistics firm Delhivery by SoftBank Vision Fund. The deal is worth over Rs 3,200 crore, according to reports. According to a filing to the CCI, the deal involves subscription of 22.44 per cent of the total share capital of Delhivery and consequently “potential subsequent acquisition of shares at a price and on such terms to be agreed.” The Japanese company will invest in the logistics firm through its holding company SVF Doorbell. In a tweet, the CCI said it “approves acquisition of 22.44 per cent of the total share capital of Delhivery Pvt Ltd (on fully diluted basis) by SVF Doorbell (Cayman) Ltd“. SoftBank Vision Fund is a venture capital fund focused on...

In all cash deal, JSW Set to Acquire Bhushan Steel For $6.28 billion

15Feb By AdityaNo Comments

ACQUISITION

In all cash deal, JSW Set to Acquire Bhushan Steel For $6.28 billion

India’s largest private steelmaker JSW Steel Ltd receives a letter of intent from the committee of creditors of Bhushan Power and Steel Ltd, thus approving the Bhushan steel resolution plan for the steel mill. JSW Steel will now pay Rs19,700 crore ($6.28 billion) in upfront cash to Bhushan Power and Steel’s lenders and infuse ₹350 crore in the steelmaker to revive it. Bhushan Power and Steel is the second insolvent firm acquired by Sajjan Jindal-led JSW Steel after Monnet Ispat and Energy Ltd last year. Bhushan Power and Steel operates a 3.5 million tonne (mt) steel plant in Odisha. Under its earlier promoter Sanjay Singhal, the company had accumulated debt of more than₹47,000 crore. It was one of firms in Reserve Bank of India’s “dirty dozen” list of NPA accounts referred to ...

Spotify acquires Podcast platform Gimlet and Anchor

7Feb By AnkitaNo Comments

ACQUISITION

Spotify acquires Podcast platform Gimlet and Anchor

US-based Music Streaming platform Spotify acquires two major podcast platform Gimlet and Anchor in an Undisclosed deal. Though Recode reported the Gimlet deal is close to $200 million. With these acquisitions, Spotify is positioned to become both the premier producer of podcasts and the leading platform for podcast creators. Gimlet will bring to Spotify its best-in-class podcast studio with dedicated IP development, production and advertising capabilities. Anchor will bring its platform of tools for podcast creators and its established and rapidly growing creator base. “These acquisitions will meaningfully accelerate our path to becoming the world’s leading audio platform, give users around the world access to the best podcast content, and improve the quality of our listeni...

Tesla acquires Energy storage company Maxwell Technologies for $218 Million

5Feb By PriyankaNo Comments

ACQUISITION

Tesla acquires Energy storage company Maxwell Technologies for $218 Million

Elon Musk led Electric car maker Tesla acquires energy storage company Maxwell Technologies at $218 million. The acquisition is an all-stock deal and the offer will value each of Maxwell's 45.9 million shares at $4.75. The merger is expected to close in the second quarter of 2019. As per the report, the acquisition will help Tesla to improve its batteries and lower the costs as more competitors enter the market. "We believe this transaction is in the best interests of Maxwell stockholders and offers investors the opportunity to participate in Tesla's mission of accelerating the advent of sustainable transport and energy," Franz Fink, CEO and President, Maxwell said in a press release. Maxwell Technologies' primary focus has been on ultracapacitors energy storage devices that ...

Sony looking to Acquire Stake in Zee Group

27Jan By AnkitaNo Comments

ACQUISITION

Sony looking to Acquire Stake in Zee Group

Sony is reportedly in talks to acquire a stake in Indian media conglomerate Zee Entertainment Enterprises. In November 2018, Indian media conglomerate Zee Entertainment had decided to sell half of its promoter holding of about 42 percent in flagship Zee Entertainment Enterprises Ltd (ZEEL), following a strategic review. The company Zee Entertainment Enterprises Ltd is owned by Subhash Chandra. The media conglomerate hired Goldman Sachs as its investment banker and LionTree as its international strategic adviser to help sell the stake as part of a “strategic review of its businesses in view of the changing global media landscape”. Indian press, including CNBCTV18, has reported that Sony is among a number of suitors for the stake with other possible bidders including Comcast and C...

25Jan By NitishNo Comments

ACQUISITION

German Personal Care brand Creme 21 Acquired for Euro 11-12 million

A leading German personal care brand, Creme 21 was acquired by an Indian FMCG Emami for 11-12 million euro. This is the first international acquisition of this size in this segment by Indian FMCG Emami. We had acquired a small company earlier. The brand has been acquired at around 11-12 million euro of little less than 1.5 times of sales of 8 million euro," Emami director Harsha V Agarwal said. "This international acquisition will add to about 15 per cent of total overseas revenues and is in line with the companys strategy for growth through inorganic route," he said. Creme 21 will help to expand Emami's international business which is primarily dependent on personal care. In the personal care segment alone Emami total business accounts for 70 percent in India. Creme 21 has a...

ByjuS Acquired U.S. based Learning Games Developer

20Jan By AdityaNo Comments

ACQUISITION

ByjuS Acquired U.S. based Learning Games Developer

India's leading education startup Byju’s acquired a U.S. based developer of learning games called Osmo, making it the latest Indian unicorn to expand overseas. Byju's, one of India’s most valuable education startups, bought Osmo for $120 million. Though Osmo will continue as a brand once the deal is completed. “Osmo makes learning more effective and engaging, which is very important with younger children,” Byju Raveendran, Byju’s founder and chief executive officer told Bloomberg. “It takes us into a new age demographic of younger kids as well as fitting into our plans for a bold global expansion.” Founded in 2013, Osmo uses augmented reality and artificial intelligence to bring physical toys into the digital world. The startup backed by Accel Partners and Mattel Inc. has so far ...

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

19Jan By AdityaNo Comments

ACQUISITION

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

Orowealth, one of India's leading Direct Mutual Fund platforms, recently announced that it has acquired the WealthTrust platform, including the product and all its users. Orowealth is a one-stop solution for all your investment needs from investing in stocks and direct mutual funds, to financial planning, goal advisory and more. WealthTrust, also one of the India's fastest growing 'Zero Commission Wealth Management' platforms, always aimed to make investment simple and hassle-free. Mr. Nisarg Gandhi, co-founder and CEO of WealthTrust said to Pixr8 team that we evaluated several partners before finally joining forces with Orowealth, which stood out as the best option for their users. The two companies now have a combined user base of 3 lakh registered users, and their asset...

TAKE Solutions to Acquire US based firms in ‘all cash deal’

11Jan By PriyankaNo Comments

ACQUISITION

TAKE Solutions to Acquire US based firms in ‘all cash deal’

Life sciences and supply chain management provider TAKE Solutions Friday said it would acquire two US-based entities in "an all cash deal" amounting to USD 72 million. Chennai based company, in a filing to Indian stock exchanges said with the acquisition of KAI Research, it would acquire Phase II, III capabilities in North America adding to its current service offerings in Europe and Asia. "KAI (Research) strengthens our therapeutic expertise mental health, musculoskeletal diseases and medical devices. The target has long standing relationships with clinical sites and trusted network of service providers", the company said om a BSE filing. "The total consideration for this transaction shall be up to USD 27 million, including contingent payments, subject to certain financial miles...