ACQUISITION | Pixr8 News

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 mett...

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 solution...

Apple acquired Mobeewave to turn iPhones into payment terminals

1Aug By PriyankaNo Comments

ACQUISITION

Apple acquired Mobeewave to turn iPhones into payment terminals

According to Bloomberg, iPhone maker Apple acquires payment startup Mobeewave technology for $100 million. The Mobeewave team will continue to work from its main office in Montreal. Mobeewave lets shoppers tap a credit card or smartphone on another phone to process a payment. After this acquisition iPhone users could use it as a payment terminal with no additional hardware required. Apple in its statement said, "Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans." In 2014, Apple added Apple Pay to the iPhone allowing users to pay for physical goods with a tap in retail stores. Last year, it launched its own credit card known as Apple Card. As per the report, the acquisition has the potential to allow Apple to comp...

Niyo acquires wealth-tech startup Goalwise

29Jul By Press Trust of IndiaNo Comments

ACQUISITION

Niyo acquires wealth-tech startup Goalwise

Jul 28, 2020: Digital banking fintech startup Niyo has acquired mutual funds investment platform Goalwise in a cash-and-stock deal to expand its product offering, a release said on Tuesday. The Bengaluru-based company did not disclose the financial value of the acquisition. "Niyo co-founders Vinay Bagri (CEO) and Virender Bisht (CTO) have picked up majority stakes in the start-up, along with Niyo, in a cash-and-stock deal for an undisclosed amount," the release said. The Goalwise founding members will join Niyo''s leadership team and will be running Niyo Wealth as an independent vertical within Niyo, it added. The COVID-19 pandemic has significantly increased the demand for digital banking and related services. The release further said the acquisition is in line with Niyo''s...

PicsArt Acquires Motion-Based Video Effects Company D’efekt

23Jul By PriyankaNo Comments

ACQUISITION

PicsArt Acquires Motion-Based Video Effects Company D’efekt

SAN FRANCISCO, 23rd Jul 2020-- PicsArt, the world’s largest visual creative platform has acquired advanced video effects company D'efekt for an undisclosed sum. The female-led startup has been featured as an Apple “App of the Day” various times and offers motion-based video effects including light illusions, music responsiveness, and fractal motion-activation. D’efekt’s three co-founders will continue to build an independent app with further resource investment from PicsArt. The D’efekt app which will be rebranded to include the PicsArt name over the next few weeks adds to PicsArt’s suite of powerful visual editing apps, including the all-in-one PicsArt photo and video-editing app on web and mobile. D’efekt turns users’ videos into works of art through world-class audio reac...

Adevinta Acquired eBay Ad Classifieds business for $9.2 billion

23Jul By AdityaNo Comments

ACQUISITION

Adevinta Acquired eBay Ad Classifieds business for $9.2 billion

SAN JOSE, Calif., July 23, 2020-- Adevinta acquire eCommerce company eBay's classified ad business for $9.2 billion in a cash and stock deal. As part of the transaction, eBay will receive $2.5 billion in cash and approximately 540 million Adevinta shares which would represent an equity stake of approximately 44% based on the number of Adevinta's outstanding shares, as of the end of the second quarter, and a ~33.3% voting stake. This sale creates short-term and long-term value for shareholders and customers while allowing us to participate in the future potential of the Classifieds business. Adevinta is a global online classifieds specialist, currently operating in 15 countries, with a portfolio that spans 35 digital products and websites. eBay's Classifieds platforms include a co...

RSG Group Acquire Gold Gym for $100 Million

14Jul By AdityaNo Comments

ACQUISITION

RSG Group Acquire Gold Gym for $100 Million

BERLIN, July 14, 2020-- RSG Group GmbH was selected as the winning bidder in a court-approved auction process held on July 13, 2020, and is set to acquire the most well-known and iconic gym chain in the world, Gold's Gym. With this acquisition, the RSG Group, which has mainly been active in Europe up to now, will become a global leader in fitness with over 900 locations and will be represented on six continents. Established in 1965 in Venice, California, Gold's Gym hit hard by the economic shutdown due to the COVID-19 pandemic, filed for bankruptcy under Chapter 11 on May 4, 2020, in an effort to facilitate the financial restructuring of the company. In mid-May, as part of the initial bankruptcy filing, Gold's Gym announced its plan to emerge from bankruptcy quickly through a pre...

Qualcomm acquires 0.15% stake in Jio for $97 million

13Jul By AdityaNo Comments

ACQUISITION

Qualcomm acquires 0.15% stake in Jio for $97 million

Mumbai, 13th July 2020: Billionaire Mukesh Ambani's Reliance Industries said it has secured $97 million (Rs 730 crore) from wireless technology leader Qualcomm makes total funding since April that has crossed $15.7 billion (Rs 1.18 lakh crore). "Qualcomm Ventures' investment will translate into 0.15 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. With this round, Reliance Jio sold its 25.24 percent stake to companies like Facebook, Silver Lake, General Atlantic, Intel, etc. The company said the investment in Jio will deepen the ties with Qualcomm that will help Jio to rollout of advanced 5G infrastructure and services in India. Qualcomm is the world's leading wireless technology innovator and the driving force behind the develo...

BrowserStack Acquires Bay Area Company Percy

10Jul By AdityaNo Comments

ACQUISITION

BrowserStack Acquires Bay Area Company Percy

SAN FRANCISCO, July 10, 2020 -- BrowserStack, the world's leading web and mobile app testing platform, today announced the acquisition of Percy, the leading visual testing and review platform. With this acquisition, developers and quality assurance (QA) teams can run everything from visual tests to manual and automated functional tests on BrowserStack's infrastructure and ship high-quality software at speed. Today, agile teams deploy code to production hundreds of times a day. Maintaining this release velocity without introducing visual bugs is close to impossible. Percy helps teams automate visual testing by capturing screenshots and comparing them against the baseline, and highlighting visual changes. With increased visual coverage, teams can confidently deploy code changes with every...

Uber to Acquire Postmates in $2.65 billion deal

6Jul By AdityaNo Comments

ACQUISITION

Uber to Acquire Postmates in $2.65 billion deal

SAN FRANCISCO, 6th July 2020-- Uber Technologies (Uber) will acquire online food & grocery delivery platform Postmates for approximately $2.65 billion in an all-stock transaction. Postmates is highly complementary to Uber Eats, with differentiated geographic focus areas and customer demographics, and Postmates’ strong relationships with small and medium sized restaurants, particularly local favorites that draw customers to the Postmates brand. Additionally, Postmates has been an early pioneer of “delivery-as-a-service,” which complements Uber’s growing efforts in the delivery of groceries, essentials, and other goods. For restaurants and merchants, Postmates and Uber Eats will together offer more tools and technology to more easily and cost-effectively connect with a bigger c...

Paytm & Its founder acquires insurance company Raheja QBE

6Jul By AdityaNo Comments

ACQUISITION

Paytm & Its founder acquires insurance company Raheja QBE

Mumbai, July 6, 2020: Leading digital payments platform Paytm & its founder Vijay Shekhar Sharma acquire Mumbai-based private sector general insurance company Raheja QBE. Started in 2009, Raheja QBE is a joint venture between Prism Johnson Limited and QBE Insurance Group, one of Australia's largest insurers. Prism Johnson Ltd approved divestment of its entire holding of 51 percent in Raheja QBE General Insurance Company Limited (RQBE) to QORQL Private Limited, a technology company with majority shareholding by Sharma and the remaining held by Paytm (owned by One97 Communications Limited), for an aggregate consideration of around $40 million (Rs 289.68 crore). "It is an important milestone in Paytm's financial services journey and we are very excited to welcome Raheja QBE Gener...

Satellite communication company OneWeb acquired by UK Government and India based Bharti Global

4Jul By AnkitaNo Comments

ACQUISITION

Satellite communication company OneWeb acquired by UK Government and India based Bharti Global

LONDON, July 3, 2020 -- Satellite communications company OneWeb has entered into an agreement with a consortium led by HMG (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and India based Bharti Global Limited for the acquisition of the OneWeb business. A consortium of Her Majesty's Government (HMG) (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and Bharti Global Limited has committed to providing more than USD $1 billion funds to restart of its business operations. OneWeb will look to resume operations as soon as possible and continue with progress towards providing global high-speed, low latency connectivity via its state-of-the-art satellite constellation. ALSO READ: Sunil Bharti Backed OneWeb To Build 15 Inte...