ACQUISITION | Pixr8 News

GirnarSoft Acquires Road Side Assistance Co. Help On Wheels

7Apr By AnkitaNo Comments

ACQUISITION

GirnarSoft Acquires Road Side Assistance Co. Help On Wheels

GirnarSoft, which owns auto portals CarDekho.com, Gaadi.com and Zigwheels.com, today announced acquisition of road side assistance company Help On Wheels in an undisclosed all cash deal. The move will bolster the operations of GirnarSofts road side assistance (RSA) vertical, the company said in a statement. Founded in 2014 by Lalit Parmar and Nirmal Mitra, Help On Wheels has a client base of over 50,000 customers. It has a team of over 50 people to manage its operations and customer service. All the team members will join GirnarSoft. Both the founders will report to CarDekhos RSA vertical Car Owners Business CEO Ankur Agarwal. "Help On Wheels will help our road side assistance business scale faster, not only by giving us an established service network and client base, but also ...

Kishore Biyani Acquires FabFurnish.com; Eyes Expansion in 100 cities

6Apr By AnkitaNo Comments

ACQUISITION

Kishore Biyani Acquires FabFurnish.com; Eyes Expansion in 100 cities

Future Group has announced the approved of acquisition of online home furnishings and decor business brand FabFurnish from Bluerock eServices for Rs. 4.86 per share. In an interview with a media channel, Founder and CEO Future Group, Kishore Biyani said, "FabFurnish is a high margin and profitable business, currently operating at 40-41 percent margins. The aim is to enter into more cities via the home furnishing brand." With an aim to expand pan India, Biyani expressed plans to operate in 100 cities eventually. He also expects earnings before interest, tax, depreciation and amortization (EBITDA) of Rs. 40-50 crore from the acquisition. "Future Group is looking at more acquisition opportunities in the specialty retail space," Biyani added. The company's is currently trai...

Godrej acquires US-based Strength of Nature (SON)

4Apr By AdityaNo Comments

ACQUISITION

Godrej acquires US-based Strength of Nature (SON)

Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods arm of the $4 billion-Godrej Group, has acquired US based company Strength of Nature. Nature a US-based company that makes hair care products targeted at women of African descent. The acquisition amount has not been disclosed. Adi Godrej, chairman of the Godrej Group, said on Saturday that with this acquisition, GCPL would be the leading company that makes hair care products for women of African descent. According to GCPL’s presentation, the global market for hair care targeted at women of African descent is valued at $4.5 billion - $2.3 billion in Africa, $1.6 billion in the US and the remaining in other regions of the world. Over the last few years GCPL has followed a growth strategy, which it calls three-by-...

Alaska Air Acquired Richard Branson’s Virgin America For Over $2 billion: Sources

3Apr By reutersNo Comments

ACQUISITION

Alaska Air Acquired Richard Branson’s Virgin America For Over $2 billion: Sources

Alaska Air Group Inc is nearing a deal to acquire Virgin America Inc, the ninth-largest U.S. airline by passenger traffic, for more than $2 billion, having outbid JetBlue Airways Corp (JBLU.O), people familiar with the matter said on Saturday. The acquisition would herald the first U.S. commercial airline merger since US Airways and American Airlines combined in 2013 to form the world's largest carrier. It would boost the size of Alaska Air's home market by allowing it to expand into lucrative hubs such as San Francisco and Los Angeles. Alaska Air is set to pay between $56 and $58 per share to acquire Virgin America, the people said. A deal could be announced as early as Monday, the people added, asking not to be identified because the agreement had not yet been finalized. A...

Foodpanda buys Delivery.com’s HK business, consolidating territories

18Mar By reutersNo Comments

ACQUISITION

Foodpanda buys Delivery.com’s HK business, consolidating territories

Online takeaway delivery firm Foodpanda is acquiring the Hong Kong assets of U.S.-based Delivery.com as it consolidates its position in key markets while shedding assets elsewhere. Founded in 2012, Berlin-based Foodpanda expanded rapidly worldwide through nine acquisitions fuelled by $310 million in capital it raised in six tranches, as online takeaway food startups enjoyed a frenzy of funding. Foodpanda, which is 49 percent owned by German emerging market e-commerce investor Rocket Internet, was active in up to 40 markets a year ago but has pared this back to focus on 24 markets in Asia, Eastern Europe, and the Middle East. It split off its 10-country Africa business and last month sold its Latin American operations to UK rival Just-Eat. The merger of Foodpanda with Delivery.com,...

Zopper acquires cloud-based Retail EasyPOS

5Mar By AnkitaNo Comments

ACQUISITION

Zopper acquires cloud-based Retail EasyPOS

Zopper, a hyper-local market place has acquired EasyPOS Solutions, a cloud based point of sale software system for billing, inventory, employee and loyalty management. The company has acquired the POS platform in mixed cash and equity deal and has valued the company at Rs 33 crores, with the intent to creating a long-term association and value for its partner retailers. A POS solution helps a company organise its overall sales and gives it an easy reach to small and medium enterprises. By joining hands with EasyPOS, hyper local company facilitating its partner retailers to provide increased selection and latest prices to its marketplace users on a real time basis. Neeraj Jain, co-founder Zopper said: "EasyPOS is an excellent product built by a brilliant team. Witnessing its tre...

Times Internet To Acquire Cricket Broadcaster Willow TV

4Mar By NitishNo Comments

ACQUISITION

Times Internet To Acquire Cricket Broadcaster Willow TV

NEW DELHI: Times Internet, the digital venture of the Times of India group, will acquire US-based cricket broadcaster Willow TV International in a USD 100 million (around Rs 673 crore) deal. "Times (Internet) has committed USD 100 million to the purchase of Willow and our primary investment into the business - for rights acquisitions, marketing, and to grow cricket in the US market," Times Internet Director Satyan Gajwani said in a statement. For Times Internet, Willow would complement its own online cricket platform Cricbuzz. "Willow is complimentary to our existing audience and presence with cricbuzz.com, in a market with high-value, affluent consumers with a propensity to pay for content," he added. Named after English willow tree from which cricket bats are made, Willow is ...

29Feb By RishabhNo Comments

ACQUISITION

ZEE Media Acquired Bagittoday.com

ZEE Media Corp. Ltd is about to acquire 80% stakes in two India Today companies- Today Merchandise Pvt Ltd (TMPL) and Today Retail Network Pvt Ltd (TRNL), as per the latest report. These two companies run together an online portal called Bagittoday.com and a television shopping channel which is yet to launch. (more…)

UltraTech to Buy Jaiprakash Cement Plants For $2.4 Billion

28Feb By reutersNo Comments

ACQUISITION

UltraTech to Buy Jaiprakash Cement Plants For $2.4 Billion

UltraTech Cement Ltd , part of the Aditya Birla conglomerate, said on Sunday it had agreed to buy Jaiprakash Associates Ltd's cement plants for an enterprise value of 165 billion rupees ($2.4 billion). UltraTech, beating competition from domestic and international bidders for the assets, said in a statement it had signed a memorandum of understanding with Jaiprakash to acquire plants whose capacity totalled 22 million tonnes a year. The agreement will increase India's biggest cement maker's installed capacity by one-third to 90.7 million tonnes annually, and provide infrastructure firm Jaiprakash with much-needed relief to pare its debts. Other companies interested in Jaiprakash's plants included Irish building materials group CRH and India's Dalmia Cement, sources told Reuters th...

Alibaba Acquired 33 Million Shares of Groupon Inc.

19Feb By AdityaNo Comments

ACQUISITION

Alibaba Acquired 33 Million Shares of Groupon Inc.

In a filing with the U.S. Securities and Exchange Commission last Friday, Alibaba Group Holding Ltd. revealed that it had acquired 32.972 million shares of class A common stock (about 5.6% of shares outstanding) in Groupon Inc. . After the news published, Groupon’s stock was up more than 20%, touched $20 per share. One week ago, the shares hit an all-time low of $2.15. Alibaba likely filed with the SEC because its stake rose above 5% of Groupon’s outstanding shares. There is no information on how much Alibaba paid for the shares. Groupon had $917.2 million in revenue in the fourth quarter of 2015. That compares to consensus estimates that called for a breakeven in earnings on revenue of $841 million. In the same period last year, it posted $750.36 million in revenue. The coupon...

Amazon acquired EMVANTAGE a Payment Gateway Startup

17Feb By AnkitaNo Comments

ACQUISITION

Amazon acquired EMVANTAGE a Payment Gateway Startup

Amazon.com has acquire EMVANTAGE Payments Pvt Ltd, a Noida-based online payment solutions provider for an undisclosed amount. Srinivas Rao, director of Amazon Payments India said in a press release "EMVANTAGE is a valuable addition to our team as we accelerate our payment offerings, ensuring the best in class online payment experience anywhere that customers shop with us,” As part of the deal, EMVANTAGE's team will join Amazon's payments team to develop solutions tailored for the Indian market. The deal is expected to close in the first quarter of 2016. EMVANTAGE provides an online payment gateway, besides solutions around mobile payments and pre-paid card solutions. Amazon had recently struck a deal to buy a 26 per cent stake in Westland Ltd, a subsidiary of Tata Group’s reta...

Apple Acquired Education Technology Startup LearnSprout

29Jan By AnkitaNo Comments

ACQUISITION

Apple Acquired Education Technology Startup LearnSprout

Apple Inc announced that it has acquired an education technology startup called LearnSprout in a drive to expand it's initiative to make the iPad the future of education. LearnSprout, and their CEO Franklin Chien have been working diligently on creating a new type of educational software, which is already used in 2,500 school districts within the United States. The acquisition is possibly an important one for Apple Inc. (NASDAQ:AAPL), as they have already been pushing education tools for the iPad into school districts around the nation. As for the price that Apple paid, or just what their plans may be to integrate LearnSprout into their current educational framework, the company refused to say. “Apple buys smaller technology companies from time to time, and we generally do not discus...