ACQUISITION | Pixr8 News

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

10Jul By PriyankaNo Comments

ACQUISITION

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

India's biggest automobile company Tata Motors acquired 26% stakes in a tech-based freight aggregator TruckEasy. This is the first investment in a startup being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of Tata Motors. However, the company did not disclose the amount. The Bengaluru based startup Truckeasy will use this investment to expand its footprint in other cities. Bengaluru based logistics company TruckEasy registered as a Loginomics Technologies Solutions Ltd, was formed in 2015 providing service for transporting needs of businesses within the city. As per the information on the website, TruckEasy transport anything within Bangalore using Light commercial vehicles. You can rent Tata Ace, Super Ace at the click of a button. Sign up and book mini...

SoftBank Eyeing to Acquire $2 billion of Yahoo Japan shares

10Jul By Gauri SinghNo Comments

ACQUISITION

SoftBank Eyeing to Acquire $2 billion of Yahoo Japan shares

The multinational holding conglomerate SoftBank Group Corp. is eyeing to buy shares of Yahoo Japan Corp. worth $2 billion in a complicated deal. The contract was initiated by Altaba Inc. The company warned a few months back that it would start relieving its 35% stake in Yahoo Japan. Last year, when Yahoo Inc. was sold, Altaba was born so that its profitable stakes in Yahoo and Alibaba Group could be carved out. According to the deal, SoftBank will buy 11 percent of Yahoo stakes from Altaba. After this, Yahoo Japan plans to buy back its own shares from SoftBank. The entire transaction essentially lets Yahoo Japan remove a major overhang from its stock while keeping its relationship with SoftBank mostly the same. The whole deal will enable Yahoo Japan to remove a major overhang fro...

Kishore Biyani’s Future Group Acquires Stakes In Koovs.com

5Jul By Gauri SinghNo Comments

ACQUISITION

Kishore Biyani’s Future Group Acquires Stakes In Koovs.com

Kishore Biyani-led Future Group’s subsidiary ‘Future Lifestyle Fashions’ is reportedly acquiring a considerable stake in the popular fashion retailer ‘Koovs’. The business magnate will take over 29.9 percent stake in the fashion firm for about Rs 140 crore. This particular move will make Future Group the largest stakeholder in London-listed e-commerce company Koovs. According to the reports, the fashion company will first issue 57.87 million new shares that account for a 24.8% stake to Future Lifestyle Fashions at 10 pence apiece in cash, raising around $7.6 million. In this regard, the company stated, "The board of directors of the company in its meeting held today has approved the proposal to invest an amount up to GBP 15.3 millions in one or more tranches by ...

Paytm Acquires a Hospitality Startup ‘NightStay’

4Jul By Gauri SinghNo Comments

ACQUISITION

Paytm Acquires a Hospitality Startup ‘NightStay’

The digital payment giant Paytm has taken over a Delhi-based company called ‘NighStay Travels’ that helps the customers to book hotels last minute. The acquisition has been made for around $2o million (around Rs 130 crore) in a cash-and-equity deal, through which Paytm is entering the hospitality space as well. Founded by Nasr Khan and Deepak Negi, NighStay is basically a mobile-based marketplace that offers its customers attractive deals and unbeatable prices for various luxury hotels. The company currently operates across 12 cities that are Delhi-NCR, Mumbai, Bangalore, Chennai, Hyderabad, Goa, Ahmedabad, Jaipur, Kochi, Pune, Agra and Chandigarh. Paytm will bring in the entire NightStay team. Talking about the investment part, it has been reported that the hospitality company had ...

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

30Jun By Lavina TolaniNo Comments

ACQUISITION

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

Reliance Industries is gearing to acquire Nasdaq listed telecom solutions provider Radisys Corporation for a whopping $75 million i.e approx (Rs. 510 crores), a move that would push it into an Internet of Things and 5G through Reliance Jio Infocomm. According to the sources, RIL will pay $1.72 per share in cash for the buyout which will bolster Mukesh Ambani owned company's positioning as a telecom company. In its official company statement, Reliance Jio director Akash Ambani said, "This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption." Speaking on the development, Akash Ambani further said, "Radisys top-class management and engineering team offer Reliance rapid innovat...

Amazon Acquires an Online Pharmacy For $1 Billion

29Jun By Gauri SinghNo Comments

ACQUISITION

Amazon Acquires an Online Pharmacy For $1 Billion

The e-commerce giant Amazon has reportedly acquired an online pharmacy called PillPack that fill, sort, and deliver all your medications in personalized packets based on when you need to take them. The amount of the deal is claimed to be roughly around $1 billion in cash for PillPack. This acquisition will give Amazon the ability to ship prescriptions around the country, and overnight. PillPack is a full-service pharmacy that delivers a better, simpler experience for people managing multiple medications. With the help of PillPack, the customers can contact the pharmacists 24/7, update their medication at any time and also review their bill in your monthly summary. “PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology. PillPack is meaningf...

IndusInd Bank Acquires IL&FS Securities Services for Undisclosed Amount

28Jun By AnkitaNo Comments

ACQUISITION

IndusInd Bank Acquires IL&FS Securities Services for Undisclosed Amount

Private sector bank IndusInd Bank on Tuesday announced that it has acquired IL&FS’ brokerage business - IL&FS Securities Services Limited (ISSL). However, IndusInd Bank refused to disclose the financial details of the deal. Reports claim that the acquisition is an all-cash deal and conclusive agreement has been signed that gives IndusInd Bank 100% ownership of the newly acquired entity. Reserve Bank of India has already approved the transaction, but the acquisition still awaits other regulatory approvals. The acquisition process will reportedly take nearly three months to complete. “The acquisition will help us scale up the present capital market business in the bank and bring new specialized products, hitherto not offered by us, to our clients,” said Romesh Sobti, MD &am...

Times Internet buys South Korean based MX Player for $144 Mn

28Jun By Lavina TolaniNo Comments

ACQUISITION

Times Internet buys South Korean based MX Player for $144 Mn

In an attempt to remark its entry in Indian OTT Segment, Times Internet has acquired South Korea based world's largest local video platform, MX Player in a deal worth 1000 Cr ( $144 Mn). With new acquisition onboard, Times Internet is planning to build a digital-first video streaming platform taking on the likes of Netflix and Amazon in India. Notably, the deal marks second big bet for Times Internet in the OTT Segment as earlier in 2016, company had launched its OTT app Box TV. However, the high cost of content had led the service to shut down. MX Player, developed by J2 Interactive, a South Korean based app will continue to work independently with teams across India and China. The platform currently has 350 million users in India, of whom 175 million use it every month, exceedin...

HCL Acquires German IT Major H&D International Group

27Jun By Lavina TolaniNo Comments

ACQUISITION

HCL Acquires German IT Major H&D International Group

IT Major, HCL Technologies has signed an agreement to acquire Germany based IT and engineering service provider H&D International Group to fuel its European expansion. In its official statement, HCL said, This landmark deal sees HCL attain significant in-country front office and delivery capabilities and will further enhance the company's domain expertise in the global automotive sector. Ashish Gupta, Corporate Vice President at HCL Technologies said, "Germany is a critical market for HCL as we continue to expand our business in Europe. We feel the German market is at an inflexion point and it is the right time for HCL to expand and make significant investments here." It is interesting to note that H&D is one of the leading IT majors in German automotive industry that operates...

PayPal Acquires a Fraud Detection Startup For $120 Million

22Jun By Gauri SinghNo Comments

ACQUISITION

PayPal Acquires a Fraud Detection Startup For $120 Million

The online payment service PayPal announced on Thursday that it is in the advanced stage of acquiring Simility which is a leading fraud prevention and risk management platform. The acquisition has been adjudicated at an amount of $120 million in cash. Bill Ready, the chief operating officer of PayPal stated that Simility will assist the company in accelerating its plans and provide its merchants with fraud fighting best-in-class tools. The acquisition will enhance PayPal’s ability to deliver fraud prevention and risk management solutions to merchants and their customers all over the world by helping to reduce fraudulent payment activity and, in some cases, verifying transactions that may have otherwise failed. the company will help to prevent such activities in the process of monitoring...

21Jun By Lavina TolaniNo Comments

ACQUISITION

Cleartrip buys Saudi Arabia’s Flyin as its first overseas acquisition

Online travel agency Cleartrip has sealed its first ever cross-border acquisition in Saudi Arabia's Travel Aggregator Flyin. The acquisition will help Cleartrip strengthen its presence and expand its client base in Saudi Arabian market. Though the financial details of the deal have not been disclosed by the travel firm, it has come six years after Cleartrip entered the Gulf Cooperation Council region in 2012. As informed by the company, the combined entity will account for 60% of market share in the Middle East, which will enable both the companies to strengthen their travel offerings to cater to a diverse customer base. Stuart Crighton, Founder and CEO of Cleartrip said, With its strong customer base and rich travel offerings, Flyin is the natural partner for us in the region. W...

Microsoft Acquires a Startup To Bolster AI Potential

21Jun By Gauri SinghNo Comments

ACQUISITION

Microsoft Acquires a Startup To Bolster AI Potential

The world’s largest PC software company Microsoft has officially announced that according to an agreement, it is soon going to acquire an artificial intelligence (AI) startup called Bonsai. Founded in 2014, the AI company Bonsai is headquartered in San Fransisco and the primary motive of Microsoft behind this acquisition is to enhance and bolster its AI and machine learning potential. Microsoft stated that Bonsai has developed technology that will let experts with AI experience work with autonomous systems. “To realize this vision of making AI more accessible and valuable for all, we have to remove the barriers to development, empowering every developer, regardless of machine learning expertise, to be an AI developer,” said Gurdeep Pall, Microsoft Corporate VP. “Bonsai has made tremend...