ACQUISITION | Pixr8 News

Byju’s Acquires a Bengaluru-based Maths Learning Startup

24Jul By Gauri SinghNo Comments

ACQUISITION

Byju’s Acquires a Bengaluru-based Maths Learning Startup

The leading edtech platform Byju’s has reportedly acquired Math Adventures which is an online mathematics learning startup based in Bengaluru. However, the amount of the deal has not been disclosed yet. This acquisition by Byju’s marks as the fourth acquisition of the company. Last year, Byju’s acquired two startups namely TutorVista and Edurite in July and Vidyartha in January. After the acquisition process, the team of Math Adventures will become a part of the Byju’s content and R&D team. “Math Adventures’ activities will help us with our K-3 product development,” said Byju Raveendran, chief executive of Byju’s. “The founder comes with a strong math background and also a research and development background in math activities. The team will now be a part of the content and R&D...

Indus Software Taken Over By Ebix For $29 million

21Jul By Gauri SinghNo Comments

ACQUISITION

Indus Software Taken Over By Ebix For $29 million

Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. Recently announced that it has acquired India based Indus Software Technologies Pvt. Ltd. (Indus), a global provider of enterprise Lending software solutions to financial institutions, captive auto finance and telecom companies, for approximately $29 million including $5 million of contingent earn-out. Indus will be tightly integrated into Ebix’s Financial Exchange, EbixCash offering in India and abroad, with key Indus business executives becoming an integral part of the combined EbixCash senior leadership. The acquisition of Indus will increase the employee strength of Ebix in India by 900 to approximately 7,200 ...

Singapore-based Symple Acquires a Pune-based Health Analytics Firm

21Jul By Gauri SinghNo Comments

ACQUISITION

Singapore-based Symple Acquires a Pune-based Health Analytics Firm

Singapore-based health tech company Symple Wellness Platform has reportedly acquired Pune-based AllizHealth, which is a wellness and health analytics platform. However, the amount of the deal has yet not been disclosed. With the acquisition process, AllizHealth will be rebranded as “Vivant”, Symple’s operating brand. Through its “Vivant”, Symple delivers an online healthcare platform that helps the customers engage with their health across the care continuum which assists them in getting healthy, staying healthy or managing a disease. This move will make Symple’s global presence much stronger. Symple expands into India with its strong and healthy technology architecture, a vigorous operating team of around 40 people across various functions, and close to 750,000 end customers. They w...

Hyderabad Based Zaggle Acquires Click & Pay Startup

20Jul By AnkitaNo Comments

ACQUISITION

Hyderabad Based Zaggle Acquires Click & Pay Startup

A payments and group dining company Zaggle has acquired Payment app Click & Pay in a cash-and-stock deal. With this acquisition, Zaggle will develop an expense management platform that would help create a vibrant corporate ecosystem where millions of corporates get the opportunity of consolidating and centralizing all travel, health and billings for other expenses and help keep a tab on the same. Earlier, Zaggle acquires online coupons firm Pennyful in a similar cash-and-stock deal. The present system of corporate expense management drains out hundreds of millions of dollars per month in terms of man-hours spent, lost opportunity costs, logistic delays and inability to consider GST inputs. The platform Zaggle allows users to make payments by helping them find the best offers ...

China’s E-commerce Major Alibaba to Acquire Stake in Focus Media

20Jul By Gauri SinghNo Comments

ACQUISITION

China’s E-commerce Major Alibaba to Acquire Stake in Focus Media

China’s e-commerce major Alibaba Group announced on Wednesday that it has agreed to take over a minority stake in China's Focus Media Information Technology with an aim to tap into the digital marketing segment. The e-commerce giant will be acquiring about 6.62 percent in Focus Media for about 9.63 billion yuan ($1.43 billion) and expectedly yet another 5 percent stake in the next one year as stated by the company. Alibaba also has plans to invest $511.1 million in an entity managed by Jason Jiang, Focus Media's chairman, by subscribing to the newly issued shares of the company. Focus Media’s digital advertising screens can be seen on the streets, on subways and in elevators across 300 Chinese cities, reaching 200 million middle-class consumers. By getting in association with Focu...

A Private Equity Fund to Acquire Naspers Stake in Travel Boutique Online

19Jul By Gauri SinghNo Comments

ACQUISITION

A Private Equity Fund to Acquire Naspers Stake in Travel Boutique Online

Naspers, a South African media and tech conglomerate acquired 51% stake in Travel Boutique Online (TBO) in 2012, which is a B2B travel distribution firm, and Standard Chartered Private Equity (SCPE) has agreed to acquire Naspers’ full stake in TBO. This deal will mark the firm’s second exit from India this year. Standard Chartered Private Equity is the private equity (PE) subsidiary of Standard Chartered Bank which did not reveal the terms of the deal with the South African company. However, Naspers who had invested about Rs 110 crore in the company, earned $42-45 million (Rs 285-306 crore) from the sale of its stake. “Naspers first invested in TBO Group six years ago and it’s rewarding to see how the business has grown and advanced in that time,” said Oliver Rippel, CEO B2C e-commer...

Flipkart’s PhonePe Acquires Leading Hyper Local POS Platform

17Jul By Gauri SinghNo Comments

ACQUISITION

Flipkart’s PhonePe Acquires Leading Hyper Local POS Platform

One of the leading digital payment platforms PhonePe that is owned by Flipkart has announced that the company has reportedly acquired Zopper Retail which is a hyper-local POS (point of sales) marketplace. However, the amount of the deal has not been disclosed. Neeraj Jain who is the founder and CEO of Zopper, will be joining the PhonePe team as head of product in offline merchant solutions. Sameer Nigam, CEO of PhonePe said, “We welcome the Zopper Retail team to PhonePe and are excited leveraging their domain expertise to rapidly expand our offline merchant network across India. Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. Zopper Retail is specifically designed to meet the needs of millions of small retailers in I...

Aurobindo Pharma to Take Over Apotex’s Business in Five European Countries

16Jul By Gauri SinghNo Comments

ACQUISITION

Aurobindo Pharma to Take Over Apotex’s Business in Five European Countries

A pharmaceutical manufacturing company, Aurobindo Pharma Limited has reportedly signed a well-defined deal for the purpose of acquiring the business of Apotex International Inc. in five European countries for $86.5 million (€74 million). The countries in which the Hyderabad-based company is looking forward to acquiring the commercial operations and certain supporting infrastructure are Poland, Czech Republic, the Netherlands, Spain, and Belgium. “The acquisition will extend and diversify Aurobindo’s European product portfolio by adding over 200 generics and more than 80 over-the-counter products that had total sales of 133 million euros in the year ending March 2018,” Aurobindo Pharma stated. The basic aim of the company behind this acquisition deal is to make its European business st...

Airbus BizLab Eyes to Acquire Stake in Indian Startups

14Jul By Gauri SinghNo Comments

ACQUISITION

Airbus BizLab Eyes to Acquire Stake in Indian Startups

Global aerospace accelerator, Airbus BizLab is eyeing to acquire the stake in Indian startups that it has been working with. However, there has not been any confirmation regarding this news. Earlier, Airbus subsidiaries, Navblue and Aerial signed deals with three Indian startups, accelerated at Airbus Bizlab India, in the segments of aeronautical data services, flight operations and imagery. If and when an equity participation takes place, it will be a departure from Airbus BizLab’s usual way of funding the startups. This is only limited to their business initiatives proofs of concepts. BizLab funds each proof of concept with a maximum of 50,000 euro (Rs 39,80,000). Since the past three years, BizLab has boosted up 50 startups and 40 internal projects, which have raised ...

Intel To Acquire a Chip Developer To Boost Up Operations

13Jul By Gauri SinghNo Comments

ACQUISITION

Intel To Acquire a Chip Developer To Boost Up Operations

Multinational technology firm Intel Corp has made an announcement that it is acquiring a chip manufacturer called eASIC based in Santa Clara. However, the details of the deal have not been disclosed yet. An Intel spokeswoman stated that the amount was "not material." The acquisition has basically been made to assist Intel’s efforts to diversify away from CPU chips and to boost up the technology utilization along with improved performance, cost, power and life cycles of product. “We’re seeing the largest adoption of FPGA ever because of the explosion of data and cloud services, and we think this will give us a lot of differentiation versus the likes of Xilinx. We’ll be able to offer an end-to-end lifecycle that fits today’s changing workloads and infrastructure. No one on the marketplac...

An Investment Firm Acquires $1 Billion Stake in SoftBank

12Jul By Gauri SinghNo Comments

ACQUISITION

An Investment Firm Acquires $1 Billion Stake in SoftBank

Investment firm Tiger Global has reportedly taken over a stake worth $1 billion in SoftBank Group and this deal has taken up the shares of the latter as much as 6.8 per cent. Tiger Global stated to the investors in a letter that SoftBank's stock price had not increased over the past five years even after its holding in Chinese e-commerce giant Alibaba had added more than $90 billion in value. Tiger manages around $22 billion in assets and deploys capital globally in both public and private markets. The company provides its services to private funds that are pooled investment vehicles. "We continue to believe the market significantly undervalues our stock and we welcome the support from a sophisticated institutional investor like Tiger Global," SoftBank stated. Masayoshi Son’s compa...

OYO Acquires Mumbai Based IoT Startup AblePlus

11Jul By Gauri SinghNo Comments

ACQUISITION

OYO Acquires Mumbai Based IoT Startup AblePlus

The pocket-friendly hospitality chain OYO has announced a new acquisition. The company has taken over an Internet of Things (IoT) technology company known as AblePlus Solutions Pvt. Ltd for an undisclosed amount. After this acquisition, the hospitality startup will be bringing in IoT into the basic zones of their hotel management system. The main purpose of this acquisition is to enhance its technology portfolio with the help of artificial intelligence and much more. OYO objects to create a sustainable ecosystem through technology and artificial intelligence for managing hotels and assets as stated by the company. Anil Goel, OYO Chief Technology Officer said, "With the introduction of IoT into the basic precincts of hotel management, we aim to enhance customer and partner experienc...