ACQUISITION | Pixr8 News

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 le...

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 ...

Sandbox Acquires Fingerprint to Form Sandbox Kids

30Mar By AdityaNo Comments

ACQUISITION

Sandbox Acquires Fingerprint to Form Sandbox Kids

SAN FRANCISCO & LONDON, 03/30/2021-- Fingerprint, a leading global provider of digital content for kids and families, has been acquired by Sandbox & Co., a strategic operator of millennial learning and entertainment companies, to form Sandbox Kids. Sandbox Kids will deliver on-demand, multimedia, multi-platform, digital subscription services for children and families around the world. Industry veteran Nancy MacIntyre will serve as CEO and will lead the newly created Sandbox Kids division, which will include existing Sandbox properties Hopster and Curious World alongside Fingerprint’s Kidomi. Nancy will drive the company’s mission to expand content that engages kids while also helping partners build, operate and market subscription services to reach families around the world....

PayPal to Acquire Digital Security Startup Curv

9Mar By AnkitaNo Comments

ACQUISITION

PayPal to Acquire Digital Security Startup Curv

SAN JOSE, Calif., March 9th, 2021-- PayPal Holdings, Inc. (NASDAQ: PYPL) has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel. In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company recently created a business unit focused on blockchain, crypto, and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding technical expertise to PayPal. "The acquisition of Curv is part of our effort to invest in ...

Iron Mountain acquire majority stakes in Web Werks for USD 150 mn

26Feb By AdityaNo Comments

ACQUISITION

Iron Mountain acquire majority stakes in Web Werks for USD 150 mn

Boston, Feb 27th, 2020: NYSE-listed data centre provider Iron Mountain acquire a majority stake in Web Werks for USD 150 million. The acquisition will accelerate Web Werks expansion across the country and build capacity to cater to one of the fastest-growing data centre markets globally. The transaction is expected to close within the next 90 days, subject to customary closing conditions, the statement said. Founded by Nikhil and Nishant Rathi, Web Werks operates three tier-3, carrier-neutral data centres in Mumbai, Pune and Delhi-NCR with a combined capability of 2,25,000 sq ft. It houses six worldwide points of presence, has 4-megawatt power capacity and supports over 6,000 servers of 850 clients. The forthcoming investment will enable it to expand operations in its three exi...

HubSpot Acquire Online Media Company The Hustle

23Feb By PriyankaNo Comments

ACQUISITION

HubSpot Acquire Online Media Company The Hustle

Feb 23RD, 2021: CRM-based platform Hubspot acquires an online media company The Hustle for an undisclosed deal. The Hustle produces a newsletter, podcast, and premium research content. The move will give HubSpot more ways to offer its community of scaling companies valuable content across a broader range of topics and a more diverse set of media. “For many customers, their first introduction to HubSpot is through our educational blog, Academy, and YouTube content, not our software. More recently, our customers have started to seek out news and trends-based content across new forms of media like podcasts, newsletters, and research,” said Kieran Flanagan, SVP of marketing at HubSpot. “By acquiring The Hustle, we'll be able to better meet the needs of these scaling companies by deli...

22Feb By AdityaNo Comments

ACQUISITION

Goodyear acquire US Tyre Brand Cooper for $2.5 billion

AKRON, Ohio and FINDLAY, Ohio, Feb. 22, 2021: Goodyear will acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion. The transaction will expand Goodyear's product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies' strengths in the highly profitable light truck and SUV product segments. The combined company will have approximately $17.5 billion in 2019 sales. Under the terms of the transaction, Goodyear shareholders will own approximately 84% of the combined company, and Cooper shareholders will own approximately 16%. Founded in 1914, Cooper is the 5th-largest tire manufacturer in Nort...

Vedantu acquires doubt-solving platform Instasolv

22Feb By AnkitaNo Comments

ACQUISITION

Vedantu acquires doubt-solving platform Instasolv

New Delhi, Feb 22, 2021: Ed-tech startup Vedantu has fully acquired Instasolv, a doubt-solving app for students of classes 6 to 12 for science, mathematics. The ed-tech firm, however, did not disclose the financial details of the deal. Earlier in 2020, Vedantu had invested USD 2 million as part of a pre-series A round funding in Instasolv. "Last year we took a strategic decision to invest in Instasolv to strengthen our play in doubt-solving, which is one of the key aspects of learning online. We have seen tremendous potential in Instasolv and share the same mission to democratize education in the country," Vedantu CEO and co-founder Vamsi Krishna said in the statement. This is Vedantu's first acquisition in an education technology company to strengthen its focus in the instant dou...

Tata Group to acquire 68 percent stake in BigBasket for $1.3 billion

16Feb By reutersNo Comments

ACQUISITION

Tata Group to acquire 68 percent stake in BigBasket for $1.3 billion

Mumbai, Feb 16th, 2021: India's Tata Group will buy a 68% stake in online grocery startup BigBasket for $1.3 billion (about Rs 9,500 cr), television channel ET Now said on Tuesday, citing sources. The salt-to-software conglomerate has been planning to launch a "super app" that will tie in all its consumer businesses, according to media reports, as it competes against Amazon.com Inc and Reliance Industries Ltd in India's booming e-commerce market. Bengaluru-based BigBasket competes with Walmart Inc-owned Flipkart and Amazon's "Fresh" service as more consumers stay indoors and choose to shop online during the COVID-19 pandemic. Tata's stake will translate into an enterprise value of 135 billion rupees for BigBasket, which is backed by Alibaba, ET Now said. BigBasket top managemen...

Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger

4Feb By AdityaNo Comments

ACQUISITION

Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger

NEW YORK, February 4, 2021– Global payment firm Payoneer merge with FTAC Olympus Acquisition Corp. (NASDAQ: FTOCU), a special purpose acquisition company at an estimated enterprise value of approximately $3.3 billion. After this deal, Payoneer will be renamed as a Payoneer Global Inc. and will operate as Payoneer, the U.S. publicly listed entity. The company will carry up to $563 million in cash. Payoneer’s management team will continue to lead the Company. The global online payment transfer firm raises investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more. Payoneer processed more than $44 billion in volume in over 7,000 trade corridors in 2020.

4Feb By AdityaNo Comments

ACQUISITION

Travel App Ixigo acquires Confirmtkt

Travel app ixigo acquire 100 percent shares of Bengaluru-based online train discovery and booking platform Confirmtkt in an undisclosed cash and stock deal. The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the deal, ixigo said in a statement on Thursday. Both companies will continue to run independently, post this acquisition. Ixigo and Confirmtkt are official IRCTC B2C premium ticketing partners for online train reservations in India. "This deal will help the group to consolidate its presence in Tier 2/3/4 markets with its combined user base of nearly 200 million Indians", the statement said. Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo, said, "The combin...

2Feb By AnkitaNo Comments

ACQUISITION

Uber Acquires Drizly for $1.1 billion

February 02, 2021, SAN FRANCISCO & BOSTON-- Cab booking platform Uber to acquire Drizly for approximately $1.1 billion in stock and cash deal. Drizly is the leading on-demand alcohol marketplace available in more than 1,400 cities across a majority of US states. Drizly works with thousands of local merchants to provide consumers with an incredible selection of beer, wine, and spirits with competitive, transparent pricing. After the completion of the transaction, Drizly will become a wholly owned subsidiary of Uber. Drizly’s marketplace will eventually be integrated with the Uber Eats app, while also maintaining a separate Drizly app. Merchants on Drizly will be able to benefit from Uber’s best-in-class routing technology and significant consumer base. Delivery drivers will ha...