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Exclusive: Tesla, SolarCity Close to Merger Agreement

24Jul By reutersNo Comments

ACQUISITION

Exclusive: Tesla, SolarCity Close to Merger Agreement

Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. The two companies, which count billionaire Elon Musk as a major shareholder, are in the final stages of carrying out due diligence on each other, and could agree on the terms of a deal in the coming days, though it is still possible that their negotiations end unsuccessfully, the people said on Saturday. It could not be learned whether SolarCity would be successful in including a go-shop provision in a merger agreement with Tesla that would allow it to continue to solicit bids from other potential buyers for a short period of time. The sources asked not to be identified because the negotiations...

22Jul By NitishNo Comments

ACQUISITION

Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition

As per the filing report, Jewellery-to-eyewear lifestyle company Titan Company Ltd also an entity of Tata's Group would pay Rs 357.34 crore to acquire a 62 percent stake in Chennai-based Carat Lane Trading Private Limited, the parent entity of the jewellery etailer CaratLane.com. In May, Titan Company acquired a majority stake in CaratLane.com. The Company is acquiring 19,142,545 shares in the parent entity. Caratlane raised over $50 million in funding from Tiger Global Management. Carat Lane Trading Private Limited, which is involved in designing, manufacturing, trading and retailing of gems and jewellery, clocked revenues of Rs 141 crore for the financial year 2015-16. Its revenues in the preceding two consecutive fiscals were Rs 127 crore and Rs 101 crore, respectively. Titan ...

Local Business Dicovery Platform Nowfloats Acquired Lookup

19Jul By NitishNo Comments

ACQUISITION

Local Business Dicovery Platform Nowfloats Acquired Lookup

It's wedding between search and chat. NowFloats a business discovery services platform has acquired Lookup a chat service that connects consumers to local business. The amount of the deal is undisclosed. The marriage is analogous to, perhaps, a Facebook and WhatsApp coming together to create a compelling platform for consumers and businesses said Jasminder Singh Gulati, Co-Founder/CEO of NowFloats. The another significant reason for NowFloats to acquire Lookup was based on the findings of the NowFloats Digital Desh Drive which attempts to uncover ‘Inside the Internet of India” and thus the evolving consumer and business behaviors, he added. Over the past year, NowFloats has conducted three research sprints across India (that includes driving across the country & meeting people), a...

SoftBank to Buy UK Chip Designer ARM in $32 Billion Cash Deal

18Jul By reutersNo Comments

ACQUISITION

SoftBank to Buy UK Chip Designer ARM in $32 Billion Cash Deal

SoftBank Group Corp has agreed to buy UK chip designer ARM Holdings PLC in a 24.3 billion pound ($32.2 billion) deal, the two companies said on Monday, in an ambitious bet on mobile internet that will transform the Japanese tech group. ARM, the most valuable tech company listed in London by market value, is a major presence in mobile processing, with its processor and graphics technology used by Samsung, Huawei and Apple in their in-house designed microchips. The Cambridge-based group also stands to be central to the tech industry's shift to the 'internet of things' - a network of devices, vehicles and building sensors that collect and exchange data - a focus for SoftBank founder Masayoshi Son. Monday's deal, Softbank's largest to date, marks a departure for the Japanese group, wh...

redBus Acquired Majority Stakes In Peru-based Busportal.pe

11Jul By RishabhNo Comments

ACQUISITION

redBus Acquired Majority Stakes In Peru-based Busportal.pe

PTI: Ibibo Group's redBus.in has recently bought a majority stake in Peru-based bus ticketing platform Busportal for an undisclosed amount, a move that will help the Indian entity foray into the Latin American market. redBus, which also has operations in Malaysia and Singapore, will now gain entry into large and under-penetrated online bus ticketing markets in the Latin American region like Peru, Colombia and Chile. No financial details of the deal were disclosed. In addition to its local market expertise, Busportal.pe will leverage the redBus technology, product and brand name to launch and grow these markets, redBus said in a statement. The co-founders of Busportal -- Hassan Bourgi and Carol Riboud -- will continue to drive the operations in Peru and further expand into Colo...

Myntra Acquired Cubeit For An Undisclosed Amount

11Jul By RishabhNo Comments

ACQUISITION

Myntra Acquired Cubeit For An Undisclosed Amount

Online fashion retailer Myntra has recently acquired Bengaluru-based Cubeit for an undisclosed amount. Cubeit focuses on building mobile applications that allows users to aggregate content from any given location. "As part of the acquisition, the team at Cubeit has been inducted into Myntra, making it an Acqui-Hire that will further strengthen and expand Myntra's technology team," said the company in a press statement. Cubeit is Myntra's third technology led acquisition. Myntra had earlier acquired Native5, a Bengaluru-based mobile app development platform company in May, 2015 and Fitiquette, a San Francisco-based technology solution in April, 2013. Cubeit was co-founded by Sarthak Jain, Nithin Kumar Gadiparthi & Prathamesh Juvatkar in 2014. Myntra, which is aggressively trying...

1mg Acquired Medd For An Undisclosed Amount!

5Jul By RishabhNo Comments

ACQUISITION

1mg Acquired Medd For An Undisclosed Amount!

Sequoia Capital backed 1mg, an online pharmacy with a wide range of prescription and OTC medicines announced on Monday that it has acquired Medd, which is a marketplace for booking diagnostic and imaging tests. The inside details about the detail are yet undisclosed! (more…)

Japanese Adtech Company Adways Acquired POKKT Pocket Money App

27Jun By NitishNo Comments

ACQUISITION

Japanese Adtech Company Adways Acquired POKKT Pocket Money App

India's leading rewarded video advertising platform POKKT announced that their Android app, Pocket Money, has been acquired by listed mobile marketing adtech company Adways Inc. Adways is Japan's and South East Asia’s leading mobile marketing company. Currently installed by over 6 million users in India, Pocket Money is a reward-based ad platform, which helps app developers to acquire and engage customers in a targeted way. It brings together a colossal rewards-for- engagement platform with the best in-line offers and value exchange in return for a multitude of redemption options. Pocket Money banks on its state of the art a serving platform, steadfast attribution tie-ups, big data and analytics infrastructures to not just ensure a high rate of successful transactions, but also thriv...

After Linkedin, Microsoft Acquires Messaging Start-up Founded By Indian

17Jun By Press Trust of IndiaNo Comments

ACQUISITION

After Linkedin, Microsoft Acquires Messaging Start-up Founded By Indian

Technology giant Microsoft has acquired a messaging-app developer founded by an Indian, as the US-based software firm aims to strengthen its position in the emerging era of combining the power of human language with advanced machine intelligence. Microsoft acquired California-based Wand Labs, a start-up which builds messaging technology for apps, founded in 2013 by IIT-Delhi alumnus Vishal Sharma who was previously the vice president, products at Google. The terms of the acquisition were not made public. "This acquisition accelerates our vision and strategy for Conversation as a Platform which (India-born CEO of Microsoft) Satya Nadella introduced at our Build 2016 conference," Corporate Vice President, Information Platform Group at Microsoft David Ku said in a statement yesterday. Dur...

Microsoft Acquired LinkedIn in $26 Billion Cash Deal

13Jun By NitishNo Comments

ACQUISITION

Microsoft Acquired LinkedIn in $26 Billion Cash Deal

On Monday, Microsoft Corp acquired LinkedIn Corporation for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash deal. LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year. “Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said. “For the last 13 years, we’ve been uniquely po...

Internet Devices Firm Gaia Smart Cities Has Acquired Internet of Things Business of Netcore

12Jun By PriyankaNo Comments

ACQUISITION

Internet Devices Firm Gaia Smart Cities Has Acquired Internet of Things Business of Netcore

Internet devices firm Gaia Smart Cities has acquired Internet of Things business of communications service provider Netcore in a an equity deal. "We have finalised deal to acquire IoT business of Netcore in an equity deal. Gaia will get ownership of Netcores IoT business and Netcore will invest in Gaia," Gaia Smart Cities Founder & CEO Sumit D Chowdhury said. Internet of Things involved in connecting various devices with internet to control them and extract data related ton their function in structured format like calorie burn data from smart wrist bands, switching on or off to AC, TV, car from mobile phones etc. Gaia Smart Cities was founded by Chowdhury and Bipin Pradeep Kumar last year. The company provides internet of things solution like remote access to water met...

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

6Jun By AnkitaNo Comments

ACQUISITION

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

Voonik, a Sequoia Capital-backed fashion marketplace startup which is focused on curated fashion has acquired three startups to build its premium fashion product Vilara. Voonik is attempting to strengthen its leadership in the unbranded fashion segment largely via acqui-hires or team acquisitions of startups in niche fashion offerings. Bengaluru based Voonik has now acquired five startups in the past six months. It raised $5 million funding from Sequoia Capital and SeedFund last year. It has claimed $100-million run rate and is aiming to grow four-fold in GMV by the end of this fiscal. The three companies are online marketplace for designers and boutiques Zohraa, which has a 12-person team, the eight-person team at online silk store Picksilk.com and the nine person team at Styl, whic...