ACQUISITION | Pixr8 News

h2e Power acquires Swiss fuel cell company Hexis AG

5Jun By PriyankaNo Comments

ACQUISITION

h2e Power acquires Swiss fuel cell company Hexis AG

New Delhi, June 5: h2e Power Systems acquires Swiss-based hydrogen fuel cell company Hexis AG from Viessmann Group. However, the company did not disclose the deal size. The Swiss firm has been acquired by the company through its German subsidiary mPower GmbH, h2e Power Systems said in a statement. "In keeping with the group''s commitment to climate change and clean energy, the acquisition of Hexis is an important milestone. We will create a global footprint and locally produce zero-emission power generators in Pune," h2e Power Systems Chairman Adar Poonawalla said. The company is building large manufacturing capacity in Pune for Indian and global markets, he added. "We are delighted to have found the right investor for Hexis and we look forward to a successful partnership wi...

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

5Jun By AnkitaNo Comments

ACQUISITION

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

India's leading Oil company Reliance Industries said that its telecom unit Reliance Jio raises $1.2 billion from Abu Dhabi state fund Mubadala Investment Co for 1.85% stake. This is the sixth funding of Reliance Jio in six weeks. Reliance has now sold a combined 19% interest in Jio Platforms. With this sixth funding including a 9.99% stake sale to Facebook Inc for $5.7 billion, Reliance will clear its 86 percent debt. Pixr8 News earlier announce that Reliance jio is in talks with Abu Dhabi based fund to further dilute its equity to raise more funds. All other funding details of Reliance Jio can find here. Mubadala owns electronic chip manufacturing company Global Foundries and has stake in several technology companies like AMD. "We have seen how Jio has already transformed...

Cisco acquires ThousandEyes, Moving from Hardware to Cloud Computing

1Jun By AdityaNo Comments

ACQUISITION

Cisco acquires ThousandEyes, Moving from Hardware to Cloud Computing

Cisco acquires privately-held cloud-based platform ThousandEyes. Headquartered in San Francisco, CA. ThousandEyes Internet and Cloud intelligence platform deliver deep visibility and insights into the digital delivery of applications and services over the Internet. The last few years have seen a rapid acceleration of Cloud adoption, widespread use of SaaS applications, and a reliance on the Internet and networks outside of enterprise control. This increased dependence on the Internet and other third-party infrastructures, compounded over the past several months during the COVID-19 pandemic, substantially reduces the ability for enterprise IT teams to predict, visualize and control operational behavior. The result is often a chaotic and unmanageable IT environment th...

Ola Electric acquires Etergo, Will Launch its Electric Scooter Globally

28May By NitishNo Comments

ACQUISITION

Ola Electric acquires Etergo, Will Launch its Electric Scooter Globally

Bengaluru, 28 May 2020: Ola Electric announced the acquisition of Etergo BV, an innovative electric scooter based out of Amsterdam, the Netherlands. With this acquisition, Ola Electric has also announced its entry into the premium electric two-wheeler market, both globally and nationally. Founded in 2014, Etergo has developed an all-electric state-of-the-art AppScooter, which has won multiple awards across the world for its innovative design and engineering at CES 2019 and Automotive Brand Contest, Germany amongst others. First revealed in 2018, the AppScooter uses swappable high energy density batteries to deliver a range up to 240km and class-leading acceleration. Electric two-wheelers are the most efficient and cleanest solution for urban mobility, which wi...

Airtel acquires 10 percent stake in AI startup Voicezen

25May By AdityaNo Comments

ACQUISITION

Airtel acquires 10 percent stake in AI startup Voicezen

Indian telecom company Bharti Airtel acquires 10 percent stake in Gurgaon-based start-up Voicezen, which focusses on conversational artificial intelligence technologies, in an all-cash deal, the private operator said on Thursday. The stake purchase will give Bharti Airtel preferred access to Voicezen’s technologies, which can be deployed across its customer touch points in multiple languages, Airtel said in a statement without disclosing the amount it paid for buying the stake. The acquisition has been made by the company under its fast expanding Airtel Startup Accelerator Programme, the company noted. “AI is a big focus area for Airtel given the deep positive impact the technology can have in transforming customer experience. Voicezen has built some promising products that are ve...

ITC acquires 100 percent stake of Sunrise Foods

25May By PriyankaNo Comments

ACQUISITION

ITC acquires 100 percent stake of Sunrise Foods

Indian business entity ITC acquired 100 percent equity of spices manufacturer Sunrise Foods Private Ltd (SFPL). While the company did not disclose the value of the deal, but sources said it is valued around $237 million to $263 million (around Rs 1,800 crore to Rs 2,000 crore). The company said it has signed a share purchase agreement (SPA) with SFPL which will augment its product portfolio and is also aligned to its aspiration to significantly scale up its spices business and expand its footprint across the country. "Sunrise is a clear market leader in eastern India in the fast-growing spices category with a rich heritage and brand legacy of over 70 years," ITC said in a statement. Over the years, the brand has built a loyal consumer franchise, anchored on a differentiated pro...

Reliance Jio 5th deal, sells 2.32 pc for $1.5 billion to KKR

22May By AnkitaNo Comments

ACQUISITION

Reliance Jio 5th deal, sells 2.32 pc for $1.5 billion to KKR

Reliance Industries announced the sale of a 2.32 percent stake in its digital unit to US private equity giant KKR for around $1.5 billion (Rs 11,367 crore), the fifth deal in four weeks that will inject a combined $10.5 billion in the oil-to-telecom conglomerate to help it pare debt. This is KKR's largest investment in Asia. "This transaction values Jio Platforms enterprise value of $65 billion (Rs 5.16 lakh crore). This is KKR's largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. The deal follows with Facebook picking up a 9.99 percent stake in the firm for $5.7 billion. Within days of that deal, Silver Lake, the world’s largest tech investor bought a 1.15 percent stake in Jio ...

Facebook Acquired GIPHY for $400 million

16May By AdityaNo Comments

ACQUISITION

Facebook Acquired GIPHY for $400 million

Social media platform Facebook had acquired the animated graphics startup GIPHY for $400 million. However, the Terms of the deal were not disclosed. GIPHY is known for its use of stickers and other products using the graphics interchange format or GIFs. Facebook would integrate Giphy's animated graphics in its social network platform Instagram. "GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team," Facebook said in a statement. "GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves. Facebook also said in its press release that 50% of GIPHY’s traffic comes fro...

Ratan Tata acquire 50 percent stake in Pharma startup Generic Aadhaar

8May By AnkitaNo Comments

ACQUISITION

Ratan Tata acquire 50 percent stake in Pharma startup Generic Aadhaar

Mumbai, May 8, 2020: Tata group chairman Ratan Tata invested an undisclosed amount in a 17-year-old kid's pharma start-up Generic Aadhaar. Generic Aadhaar was founded by the Thane kid, Arjun Deshpande, in April 2019, when he was 16. It supplies quality generic drugs from reputed manufacturers at up to 80 percent lesser cost and other medicines 20-30 percent cheaper. The boy, an alumni of DAV Public School, Thane, began his entrepreneurial journey with the aim of bringing affordable medicines to the poor, a statement issued by his PR agency said on Thursday. Tata invests in his personal capacity and did not disclose how much he invested. The chairman emeritus of Tata Sons has so far invested in over a dozen start-ups since he retired from the group in December 2012 and all his i...

Vista Equity Partners Acquire 2.32% stake in Jio for $1.5 billion

8May By AdityaNo Comments

ACQUISITION

Vista Equity Partners Acquire 2.32% stake in Jio for $1.5 billion

New Delhi, May 8, 2020: US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for $1.5 billion (Rs 11,367 crore), the company announced today. 'This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore,' the company said in a statement. Vista's investment will translate into a 2.32 per cent equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook. Facebook had bought 9.99 per cent stake in Jio Platforms - the firm that houses India's youngest but biggest telecom firm, for Rs 43,574 crore. That deal was followed by Silver Lake - the world's largest tech invest...

5May By PriyankaNo Comments

ACQUISITION

Intel Acquires Moovit for $900 Million

SANTA CLARA, Calif., May 4, 2020 – Intel Corporation has acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900 million ($840 million net of Intel Capital equity gain). Moovit is known for its urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030. “Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that pur...

US Firm Silver Lake Acquire 1 Percent Stake in Reliance Jio

4May By NitishNo Comments

ACQUISITION

US Firm Silver Lake Acquire 1 Percent Stake in Reliance Jio

After Facebook, US-based leading global tech investor Silver Lake acquire 1.15 percent stake in India's leading telecom arm Jio for $750 Million. The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 percent stake in Jio Platforms. The investment is at a premium of 12.5 percent to the Facebook deal. The Facebook and Silverlake investment would value Reliance Jio at around $65 billion. Reliance Jio have around 340 Million users in India, "This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 percent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.