ACQUISITION | Pixr8 News

Cisco To Acquire July Systems To Boost Its WiFi Platform

20Jun By Gauri SinghNo Comments

ACQUISITION

Cisco To Acquire July Systems To Boost Its WiFi Platform

The multinational tech firm Cisco Systems Inc. has announced that It is in the advanced stage to acquire a mobile application platform provider called July Systems. This step will assist the company in strengthening the WiFi platform of the enterprise with the aim to provide much better indoor location services capabilities, among other offerings. July Systems is a California and Bengaluru based company which is among the top WiFi analytics companies. Founded in 2001, July Systems is a leader and pioneer in cloud-based mobile experience and location services platforms. The company's platform and mobility solutions are used by companies including CNN, ESPN, Intel, Toys"R"Us, CBS, Fox, and NBC Universal. We plan to add July Systems’ platform and business context capabilities to provide a...

Paytm Buys Out a Flipkart and Tiger Global Backed Firm

19Jun By Gauri SinghNo Comments

ACQUISITION

Paytm Buys Out a Flipkart and Tiger Global Backed Firm

India’s leading payment gateway Paytm on Tuesday has reportedly acquired Cube 26, which is a New-Delhi based technology company backed by Flipkart and Tiger Global. The tech firm had raised a seed funding from both the investors amounting to $7.7 million in 2015. The start-up was founded by Saurav Kumar, Abhilekh Agarwal, and Aakash Jain in 2012. Cube26 produces customized Android OS for original equipment manufacturers, and at present, it is building a games and apps store by connecting India-based developers directly with smartphone users. “We are focused on building a more immersive and feature-rich mobile experience for our large active user-base,” said Madhur Deora, the chief financial officer at Paytm. “We are excited to welcome the Cube26 team on board,” he added. According to ...

Reliance Brands Eyeing to Take Over a Popular Luxury Group

18Jun By Gauri SinghNo Comments

ACQUISITION

Reliance Brands Eyeing to Take Over a Popular Luxury Group

Reliance Brands, a subsidiary of Reliance Industries Ltd. is eyeing to fully acquire Genesis Luxury Fashion Pvt Ltd. which is a unit of Genesis Colors involved in the marketing and distribution of International Luxury labels for an estimated amount of Rs 450 crore. Genesis Luxury comes under India’s top luxury groups and this acquisition is sure to give a boost to the business of Reliance Brands. This step may also help Reliance to build a dominant space in the emerging luxury market of the country. According to the reports, last year, Reliance Brands had purchased a 46.6% stake in Genesis Luxury from Singapore-based private equity firm L Catterton Asia. And now, the company is in the advanced stage to acquire it wholly. Genesis Luxury Fashion, launched in the year 2008 is involve...

General Atlantic Acquires ICICI Venture’s Stake in KIMS

16Jun By Gauri SinghNo Comments

ACQUISITION

General Atlantic Acquires ICICI Venture’s Stake in KIMS

India’s largest private sector fund ICICI Venture has sold off 30% of its stake in hospital chain Krishna Institute of Medical Sciences to its competitor General Atlantic worth Rs 850 crore. Through this deal, the company is expected to make close to four-fold returns on its initial investment in four years. The valuation of the Hyderabad based hospital chain has been raised to around Rs 2,700 crore from Rs 850 crore in 2014. In 2014, ICICI Venture had invested about Rs 220 crore in the hospital chain, which had around 500 beds. The hospital chain KIMS, which had received the SEBI approval for a public offering had to postpone its share sale plan because of the regulatory changes and pricing uncertainty. KIMS has stated that the regulatory challenges were one of the reasons for the a...

Truecaller acquires Sequoia Backed Payment Startup Chillr

13Jun By Lavina TolaniNo Comments

ACQUISITION

Truecaller acquires Sequoia Backed Payment Startup Chillr

Sweden based caller identification app Truecaller has acquired payment startup Chillr to boost its payment business in the country, as announced at a press conference in Bengaluru on Wednesday. The acquisition has come in just after the company announced to roll out credit and other financial services to Indian users in the coming months. Chillr team members which include Anoop Sankar, Sony Joy, Mohamed Galib and Lishoy Bhaskaran will be absorbed into the company with co-founder Sony Joy serving as the vice president of Truecaller Pay. Notably, Truecaller had ventured into digital payments last year in India with its UPI service. Co-founder Nami Zarringhalam had earlier informed that the company is incorporating payments as a core part of its offerings. Commenting on the recent a...

An Investment Firm to Acquire Majority Stakes in Leelaventures Ltd.

12Jun By Gauri SinghNo Comments

ACQUISITION

An Investment Firm to Acquire Majority Stakes in Leelaventures Ltd.

The securitization and reconstruction firm JM Financial Asset Reconstruction Co. has reportedly been planning lately to acquire majority stakes by converting a part of the debt to equity in the popular Leelaventure Ltd. According to the reports, Leelaventure’s board has approved an enabling resolution and the deal has been confirmed on Monday. Earlier the investment firm had a stake of 26% in the holding company Mumbai-based hotel chain, but after the completion of the deal JM financial will hit the stake percentage of 75% that is the majority stake in the firm. The board of the holding firm has given its consent for issuing up to 125 crore equity shares with the face value of Rs 2 each in one or more tranches to JM financial. JM Financial Asset Reconstruction Company Limited is t...

Reliance Brands Ltd Buys Out a Lifestyle Company at $30 Million

9Jun By Gauri SinghNo Comments

ACQUISITION

Reliance Brands Ltd Buys Out a Lifestyle Company at $30 Million

A subsidiary of Mukesh Ambani-led Reliance Industries Limited called ‘Reliance Brands Limited’ has bought 100% stake in Rhea Retail Private Limited and has successfully acquired it for Rs 203.46 crore ($30 million) in cash. Rhea Retail is a Delhi-based privately owned firm which was founded in 2007 and its main line of business comprises of the distribution of women's, expectant mother’s, children's, and infants' clothing and accessories. Its revenue for the year through March 2018 was Rs 200 crore, the same as the previous year. On the other hand, Reliance Brands Limited is a part of Reliance Industries Group which too began its operations in 2007. It deals in over 40 international brands and aims to launch and build international and domestic brand equity in the premium to luxury s...

Microsoft Acquire Coding Site GitHub Inc For $7.5 Bn

4Jun By Gauri SinghNo Comments

ACQUISITION

Microsoft Acquire Coding Site GitHub Inc For $7.5 Bn

According to the reports, the software leader Microsoft has approved of buying out GitHub Inc. for $7.5 Billion. Github is the world's leading company for providing open-source code hosting services. GitHub was last valued at $2 billion back in 2015, however, the terms of the present deal are still not known and have neither been publicized by the company. Microsoft said in a statement, "it will acquire GitHub for USD 7.5 billion in Microsoft stock." Subject to customary closing conditions and regulatory review, the deal is expected to be finalized by the end of the year. GitHub Inc. is a private company which is basically an internet-based hosting service designs and develops an online platform to enable the users to store and share codes repositories (a central location in wh...

31May By Gauri SinghNo Comments

ACQUISITION

Treebo Makes its First Acquisition by Getting Hold of Events High

India’s third-largest Bengaluru-based Hotel chain, Treebo Hotels has made its very first acquisition by getting hold of an event and activity discovery platform that brings all events, movies and things to do in various cities of our country. The acquired company is known as Events High. The event company provides various kind of information to the customers regarding the events and activities and also the ability to book them in 8 cities (Bengaluru, Mumbai, Delhi, Chennai, Hyderabad, Pune, Kolkata and Goa). The activities that they offer consists of – concerts, heritage walks, treks and hikes, dance workshops, educational workshops, cooking classes, sports carnivals, summer camps, road trips, language festivals, parties and nightlife and various other adventurous activities and fun eve...

Knowledge Sharing Platform Vokal Acquires Quizzing App StupidChat

30May By Lavina TolaniNo Comments

ACQUISITION

Knowledge Sharing Platform Vokal Acquires Quizzing App StupidChat

India's largest peer to peer Knowledge Sharing Platform, Vokal has acquired a social network based quizzing app called StupidChat Technologies in an all-stock deal for an undisclosed amount. Founded in 2017 by Sourav Karmakar and Saheb Roy, StupidChat App is often known as the Uber of Anonymous Social Network that lets users connect with people nearby without disclosing their identity. Post the acquisition, Vokal will use the six-member team to work on the existing products while coming up with daily engagement products for the platform. On the other hand, the StupidChat Team has been assigned responsibilities across product design and technology verticals. Vokal is a knowledge sharing platform committed to bridging Knowledge gap for Indians that don't speak English. It was founde...

Ed-Tech Startup iNurture Buys Employability Platform KRACKiN

28May By Lavina TolaniNo Comments

ACQUISITION

Ed-Tech Startup iNurture Buys Employability Platform KRACKiN

Ed-Tech Startup iNurture, which provides industry-related skill courses has acquired a skill-based student employability platform KRACKiN Technologies Pvt. Ltd.in an undisclosed amount. Post this buyout, Bengaluru based iNurture is looking forward to boosting its network in helping graduates become employable. Ashwin Ajila, the iNurture founder said, While universities and colleges have well-developed metrics to measure the academic performance of students, they don’t have similar metrics to measure the employability of their students. We realised that a 360-degree engagement and assessment platform would create a greater impact on students, academics, and industry partners. iNurture had successfully raised Rs. 28 crore ($4.3 Mn) in a Series C funding round led by Ventureast, Ascen...

Zodius Capital raises stake in Zivame upto 45% : Kalaari and IDG exit

28May By Gauri SinghNo Comments

ACQUISITION

Zodius Capital raises stake in Zivame upto 45% : Kalaari and IDG exit

Zodius capital, a tech-oriented investment firm has elevated its stake in Zivame, which is a lingerie retailer by purchasing shares of the early backers of the lingerie startup named Kalaari Capital and IDG Ventures that invested in Zivame in early 2012. According to the reports, the funding agency now controls almost 45% in Zivame. It now has three of the six board seats in Zivame though it has not filled any of the two additional seats. However, the valuation of the stakes sold by Kalaari and IDG Ventures could not be determined. When Zivame last raised capital in September 2015, from Malaysian sovereign wealth fund Khazanah and Zodius Capital, it was valued at over $100 million. Other shareholders in the company so far are Unilazer Ventures, IDG Ventures India, Kalaari Capital, Ra...