ACQUISITION | Pixr8 News

Zynga Acquire Istanbul Based Rollic for $180 Million

3Oct By PriyankaNo Comments

ACQUISITION

Zynga Acquire Istanbul Based Rollic for $180 Million

SAN FRANCISCO, Oct 3rd, 2020-- Zynga acquired 80% of Istanbul-based mobile games developer and publisher Rollic for $180 million in cash. Over the next three years, Zynga will acquire the remaining 20% in equal installments at valuations based on specific topline and profitability goals. The Rollic acquisition marks Zynga’s entrance into the fast-growing hyper-casual market and brings a highly talented team with a substantial network of external developers to Zynga. Rollic also meaningfully increases Zynga’s audience while growing its advertising business. Rollic will continue to be led by founder and Chief Executive Officer Burak Vardal and its current management team. Additionally, the company plans to maintain its headquarters in Istanbul, Turkey. “We’re thrilled to welc...

Oracle acquire TikTok US, Microsoft bid rejected

15Sep By AdityaNo Comments

ACQUISITION

Oracle acquire TikTok US, Microsoft bid rejected

New York, Sep 15th, 2020: Satya Nadella led Microsoft lost a bid to acquire TikTok in the US after the Chinese owner of the video-sharing platform select Oracle to be its technology partner for its American operations, ahead of the September 20 deadline set by President Donald Trump that the popular app will be banned in the US if it isn't sold to an American company Microsoft said in a statement on Sunday that the Chinese owner of TikTok ByteDance has informed it that they would not be selling TikTok's US operations to Microsoft. We are confident our proposal would have been good for TikTok's users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, an...

General Motors Acquire $2 billion equity stake in Nikola

9Sep By NitishNo Comments

ACQUISITION

General Motors Acquire $2 billion equity stake in Nikola

PHOENIX/DETROIT, Sept. 09, 2020 — Nikola Corporation (NASDAQ: NKLA) and General Motors Co. (NYSE: GM) announced a strategic partnership, where General Motors invest $2 billion to acquire 11 percent ownership of Nikola and the right to nominate one director. Nikola will also utilize General Motors’ Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors. General Motors will be subject to a staged lock-up provision beginning in one year and ending in June 2025. General Motors will engineer, homologate, validate and manufacture the Nikola Badger battery electric and fuel cell versions. “Nikola is one of the most innovative companies in the world. General Motors is one of the top engineering and manufacturing companie...

Delivery Hero acquires MENA based Online Grocery Marketplace InstaShop

1Sep By PriyankaNo Comments

ACQUISITION

Delivery Hero acquires MENA based Online Grocery Marketplace InstaShop

Berlin, 1st Sept 2020 – Delivery Hero announced that it has acquired InstaShop, a leading online grocery marketplace in the Middle East and North Africa region for $360 million. The initial purchase price amounts to approximately USD 270 million and the size of the deferred component to the founding team is dependent on the growth and profitability of the business in the following years. The acquisition of InstaShop marks the next step in Delivery Hero’s quest to pioneer q-commerce, the next generation of e-commerce. InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on a Q2 2020 annualized basis, up c. 330% year-on-year, and a positive EBITDA margin. With Delivery Hero’s support, the plan is to launch new markets a...

Ambani’s Reliance acquires Future Group for $3.4 billion

31Aug By AdityaNo Comments

ACQUISITION

Ambani’s Reliance acquires Future Group for $3.4 billion

New Delhi, Aug 31, 2020: Indian Billionaire Mukesh Ambani's Reliance Industries acquired Ashok Biyani led Future Group for $3.4 billion (Rs 24,713 crore) to bolster its fast growing retail business. "Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries, will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of $3.4 billion," the company said in a statement. Through the deal, Reliance will acquire Future Retail that owns the BigBazaar that sells everything from groceries to cosmetics and apparel, and Future Lifestyle Fashions Ltd that operates fashion discount chain Brand Factory. While Reliance will takeover Future Consumer Ltd, wh...

WorldRemit to Acquire Sendwave for $500 million

26Aug By AdityaNo Comments

ACQUISITION

WorldRemit to Acquire Sendwave for $500 million

LONDON, 26th Aug 2020-- Uk based global payments company WorldRemit has agreed to acquire Sendwave, a rapidly growing app-based remittance company in Africa for a $500 million cash and stock deal. Founded in 2014, Sendwave has built a leading and rapidly growing digital remittance service to East and West Africa, and this summer added Bangladesh, its first receiving market in Asia. Sendwave will continue to operate independently and retain its mobile applications, brand, management, employees and key partners. “Both WorldRemit and Sendwave share a common purpose: allowing customers to easily and cost effectively send financial support to families, friends and businesses in other countries,” said WorldRemit CEO, Breon Corcoran. “WorldRemit has one of the broadest and most accessible ...

Photography Marketplace Platform Snappr acquires Eversnap

21Aug By PriyankaNo Comments

ACQUISITION

Photography Marketplace Platform Snappr acquires Eversnap

SAN FRANCISCO, Aug. 19, 2020- The top US on-demand photography marketplace, Snappr, has acquired competitor Eversnap. Eversnap was an early entrant to the event photo-sharing space a decade ago, launching the top-rated wedding photo app Wedding Snap in 2012 as a way to allow a wedding to be captured from dozens of perspectives. They rebranded to Eversnap in 2013 and became one of the most popular general group photo sharing apps of the time. Eversnap launched their professional photography services in 2014. At the time of the acquisition it had almost one million users. Snappr was launched in 2016 and has since grown to be the largest on-demand photography platform in the world, including covering over 200 metropolitan areas in the United States. Customers can book an on-demand ...

Reliance acquires Majority Stake in Netmeds for $83 Million

19Aug By PriyankaNo Comments

ACQUISITION

Reliance acquires Majority Stake in Netmeds for $83 Million

Mumbai, 19th Aug 2020: India's leading oil & telecom company Reliance has acquired a majority equity stake in online pharmacy platform Netmeds for a cash consideration of around $83 million (Rs 620 crore). This investment represents around 60 percent holding in the equity share capital of Vitalic and 100 percent direct equity ownership of its subsidiaries Tresara Health Private Limited, Netmeds Market Place Limited, and Dadha Pharma Distribution Pvt Limited, the press statement said. Vitalic Health and its subsidiaries are collectively known as Netmeds. "This investment is aligned with our commitment to provide digital access for everyone in India. The addition of Netmeds enhances Reliance Retail's ability to provide good quality and affordable health care products and serv...

American Express to Acquire Lending firm Kabbage

18Aug By AnkitaNo Comments

ACQUISITION

American Express to Acquire Lending firm Kabbage

NEW YORK, 18th Aug 2020-- American Express ( NYSE: AXP ) announced that it has entered into an agreement to acquire Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward the American Express goal of being an essential partner to small businesses through a broad range of payment, cash flow, and financial management tools. Under the terms of the agreement, American Express will acquire Kabbage’s team and its full suite of financial technology products, data platform and IP built for small businesses. Kabbage’s products include access to flexible lines of credit, online bill payment, cash flow visualization tools, e-gift certificates, and the ability to centralize ...

Scribd Acquires SlideShare from LinkedIn

13Aug By PriyankaNo Comments

ACQUISITION

Scribd Acquires SlideShare from LinkedIn

Microsoft owned LinkedIn announced that SlideShare has acquired by Scribd to offer millions of users around the world great content to fuel their curiosity and learning. The details of the deal has not been disclosed. SlideShare has been a part of LinkedIn since May 2012. SlideShare has enabled millions of people to upload and share presentations, infographics, documents, and more. Like SlideShare, Scribd offers users a great platform to learn, share, and advance their careers. It has a digital library of published ebooks, audiobooks, podcasts, sheet music, and magazines, alongside over 100 million documents uploaded from the community. Slideshare is more focused on presentations and professional content. “Our acquisition of SlideShare is a major step towards creating the ...

Byju’s acquires WhiteHat Jr for $300 million

6Aug By AdityaNo Comments

ACQUISITION

Byju’s acquires WhiteHat Jr for $300 million

Bengaluru: Facebook backed ed-tech platform Byju's has acquired Mumbai based kids coding platform WhiteHat Jr for $300 million. This is the biggest all cash acquisition deal in Byju's history. After this acquisition, WhiteHat Jr. Founder Karan Bajaj will continue to lead and scale this business in India and the US. Acquisition of WhiteJr will help Byju's to expand its base to cater to demand from new markets. Founded in November 2018, WhiteHat Jr. helps kids aged 6 to 14 years build commercial-ready games, animations and apps online using the fundamentals of coding. “We started WhiteHat Jr. to make kids creators instead of consumers of technology,” said Karan Bajaj, Founder, WhiteHat Jr. “WhiteHat Jr is the leader in the live online coding space. Karan has proven his met...

Google acquires 6.6% ownership in ADT for $450 million

3Aug By PriyankaNo Comments

ACQUISITION

Google acquires 6.6% ownership in ADT for $450 million

BOCA RATON, Fla., Aug. 03, 2020-- Internet giant Google to invest $450 million to acquire 6.6% ownership in ADT. ADT, a leading provider of security and smart home solutions, and Google are entering into a long-term partnership to create the next generation of smart home security offerings. The partnership will combine Google’s award-winning Nest hardware with ADT’s trusted security, professional installation, and monitoring service to create a fully integrated set of devices, software and services for the secure smart home. The partnership will integrate Google’s hardware and services and ADT’s DIY and professionally installed smart home security solutions to innovate the residential and small business security industry. The future ADT + Google helpful home security solutio...