ACQUISITION | Pixr8 News

11Apr By Sheldan RungasamyNo Comments

ACQUISITION

ClearTax Announced the Acquisition of 2 Startups

ClearTax announced the acquisition of Greeblu Enterprises, which is an app-based startup and TOOTL, an app offering infotainment in the form of personalized content via predictive analysis modeling to its readers. These acquisitions go along with ClearTax’s ambitions of using this innovative technology to incorporate with the personalized tax, finance and compliance related content found on its website. ClearTax specializes in offering a variety of products and services, notably mutual fund investment portal, Goods and Services Tax (GST) software, e-way bill generator, and business compliance services as well while also relying on its core tax filing business where they are the market leader. This algorithm has been a great value add to our existing systems. In the tax and finance s...

Meituan Dianping Acquires Mobike for $ 2.7 Billion

5Apr By Sheldan RungasamyNo Comments

ACQUISITION

Meituan Dianping Acquires Mobike for $ 2.7 Billion

Meituan Dianping, a Chinese mobile internet company also operating a trading platform and local life information recently acquired Mobike for $2.7 billion. Tencent Holdings support both companies and the deal is likely to increase the competition between the holding company and the Alibaba Group as both companies go toe-to-toe in a fierce competition to maximize their reach on the Chinese market. Meituan announced the deal on Wednesday but did not want to reveal the amount paid for the acquisition. However, two anonymous sources told Reuters that Mobike was bought for $ 2.7 billion. The acquisition will see Meituan and Mobike merge their technology, operations, marketing and consumer service resources, a statement from Meituan affirmed. The mobile internet company also shared that Mo...

Ola Acquires Public Transport App to Compete With Uber

4Apr By Sheldan RungasamyNo Comments

ACQUISITION

Ola Acquires Public Transport App to Compete With Uber

Ola, the Indian Ride Hailing company announced that the firm acquired public transport app, Ridlr whose software will be integrated in Ola and bring new facilities to users in helping with their commuting needs. This acquisition consolidates Ola’s efforts in digitalizing the public transport facilities in India and is undoubtedly an additional asset for the Indian ride hailing company to compete with their main competitor Uber as the competition between the two platforms intensifies week in, week out. Ridlr is an app that allows its users to search and book several public transport facilities on their smartphones. The platform’s patented Internet of Things (IoT) facilities allows digitalization of Indian public transport. Launched in 2009 by Ravi Khemani and Brijraj Vaghani, the plat...

Alibaba Buys Out Remaining Shares of Ele.me

2Apr By Sheldan RungasamyNo Comments

ACQUISITION

Alibaba Buys Out Remaining Shares of Ele.me

Alibaba Group, the Chinese e-commerce giant announced that after buying 43% of stakes in Ele.me, a leading food delivery platform, it decided to buy all the remaining shares of the company as it looks forward to compete with Tencent Holdings for offline customers. The deal, which is still in process, will stand at a value of $9.5 billion, Alibaba released in a statement. Ele.me, is the Chinese word for “Hungry?” and among the fast evolving and rapid growing e-commerce businesses present in China which is set around consumers ever more reliable on their smartphones to buy products and receive services. The acquisition from Alibaba expands its e-commerce food delivery facilities such as several other businesses it owns stakes or bought in the last few years such as delivery platform...

WeWork Coworking Acquisitions & Its Growth

1Apr By Sheldan RungasamyNo Comments

ACQUISITION, ANALYSIS

WeWork Coworking Acquisitions & Its Growth

WeWork, the famous co-working space provider was founded in 2010 when it opened two offices in New York. The purpose of the company was to provide workspaces to companies and people where they could expand together. They are also reknown for giving their locations a design face-lift and providing their client-base with dynamic environments that is meant to boost creativity, focus and facilitate connections. Their aim when they opened their first office was to humanize work by making CEOs help each other grow their respective businesses, and provide offices as comfortable as the employees’ home. Eight years since its inception, the company is now present in 56 cities and 18 different countries. Indeed, the company grew very quickly. They opened two locations in 2010 and doubled that ...

Hinduja Global Solutions Acquires 57% Stakes in Element Solutions for $5 Mn

31Mar By Sheldan RungasamyNo Comments

ACQUISITION

Hinduja Global Solutions Acquires 57% Stakes in Element Solutions for $5 Mn

Hinduja Global Solutions (HGS) announced that its daughter company Hinduja Global Solutions UK Limited has bought out 57% stake in Element Solutions, which is a digital consulting services company for a $5 million consolidation. The deal is scheduled to be completed in 15 days and will serve to improve the digital marketing and digital experience service of the firm. "Hinduja Global Solutions UK Ltd has today entered into a definitive agreement to acquire 57 per cent equity stake in Element Solutions LLC, USA... Post-acquisition, HGS will add over 75 employees comprising strategic thinkers, digital marketers, user-centric designers, software engineers and developers, of whom 33 are in the US and the rest in India," HGS Chief Executive Officer Partha DeSarkar said. Element Solutions i...

Reliance Acquires Saavn Music App for $104 Million+Stock Deal

24Mar By Sheldan RungasamyNo Comments

ACQUISITION

Reliance Acquires Saavn Music App for $104 Million+Stock Deal

Reliance Industries, the Indian conglomerate in oil-to-telecom sector bought a stake in Indian music streaming service called Saavn and decided to merge the company with its JioMusic app and thus create a new unit that is reported said to be valued at $1 billion. Reliance will also have to buy a stake from Saavn’s current shareholders for $104 million. Reliance’s plan is to invest over $100 million, $20 million of it upfront for the expansion of JioMusic-Saavn merge, according to a joint statement issued by both companies. Saavn’s current investors include Tiger Global Management, Liberty Media and Bertelsmann and all of them will keep a holding in the new music services. Reliance, owned by India’s wealthiest person Mukesh Ambani did not reveal the amount of stakes it holds in the...

Uber Co-Founder Travis Kalanick Buys Out Firm and Becomes CEO

21Mar By Sheldan RungasamyNo Comments

ACQUISITION

Uber Co-Founder Travis Kalanick Buys Out Firm and Becomes CEO

After announcing a capital investment fund called ‘10100’ on May 7th intended for investment in startups, Travis Kalanick, former CEO of Uber Technologies sacked by his company in June last year is back on track in the entrepreneur world. My new gig... pic.twitter.com/vpD528cdyf — travis kalanick (@travisk) March 20, 2018 Kalanick announced today that he has acquired a real estate company called City Storage Systems for $150 million. His first action after acquiring the firm was to install himself as CEO. The investment represents approximately 10% of his total wealth. In January, Kalanick sold $1.4 billion worth of Uber shares to SoftBank Group Corp. City Storage Systems is a startup that focuses on redesigning troublesome real estate properties like parking lots or abandoned stri...

OYO Acquires Chennai based Startup in all Cash Deal

19Mar By Sheldan RungasamyNo Comments

ACQUISITION

OYO Acquires Chennai based Startup in all Cash Deal

OYO, the network of budget hotels recently made the acquisition of Chennai-based service apartment operator Novascotia Boutique Homes, which moreover marks the company’s first major takeover and proves its dominance in the market they operate. The deal’s negotiations begun in last October and materialized last month. Despite OYO company executives’ opting to keep the financial details of the deal confidential, the company backed by SoftBank Group is rumored to have struck the Novascotia acquisition at around $1 million. This deal is a significant landmark for the Gurgaon-based company as it marks its first all-cash deal for a brick-and-mortar company. Previously, OYO began negotiations to acquire smaller competitor Zo Rooms, but wrote off the deal in October 2017 after finding out th...

13Mar By Sheldan RungasamyNo Comments

ACQUISITION, News

Fulcrum Exits Curation Healthcare, Makes 15 Times Return

Fulcrum, a founder focused private equity firm from Chennai recently announced a partial exit from leading Indian dermatology products company Curatio Healthcare. The equity company is selling a portion of its stake to ChrysCapital which is an Indian focused investment firm possessing around $3 billion of assets under their wing. Although the exact amount of the deal remained unrevealed, Fulcrum received a cash return of 15 times the capital they invested and an Internal Ratio of Return (IRR) striking at 40%. This is already the second partial exit of Fulcrum from Curatio. Back in 2015, Fulcrum sold an important portion of their stakes in the dermatology products company to Sequoia and received 6 times the capital they invested. Fulcrum first became associated with Curatio in 2005...

13Mar By NitishNo Comments

ACQUISITION

HR Firm PeopleStrong Acquires Capabiliti, Fifth Acquisition in a Row

India's fastest growing SaaS HR Technology and Solutions company PeopleStrong has acquired Capabiliti for an undisclosed amount. The Capabiliti is the subsidiary of Qustn Technologies. Capabiliti will be part of PeopleStrong Alt product suite and their team will join the product group of PeopleStrong. The founder of Qustn technologies Mrigank tripathi will be a part of the leadership team and will lead the go-to-market initiatives for PeopleStrong's Human Capital Management business. Established in Oct 2014, by Mrigank Tripathi & Sachin Grover, Capabiliti's is a Saas-based platform allowing companies to deliver their training to its remote users. The acquisition will help Capabiliti to integrate with PeopleStrong's Alt platform and will offer the service to PeopleStrong custom...

Google to Acquire IOT Platform for $50 million

16Feb By RishabhNo Comments

ACQUISITION

Google to Acquire IOT Platform for $50 million

Google announced in a blog-post that it has agreed into agreements to acquire Xively, a division of LogMeIn Inc for $50 million through which, its Cloud IOT Core will gain deep IOT technology and engineering expertise, including Xively’s advanced device management, messaging, and dashboard capabilities. Google believes that the growing IOT market can reach as much as 20 billion connected things by 2020. This acquisition of Xively will help the search engine giant to enable device designers to build connectivity directly into the design process while providing a cloud-mobile connection between the end user app and the connected device. "With the addition of Xively’s robust, enterprise-ready IoT platform, we can accelerate our customers’ timeline from IoT vision to product, as they lo...