Acquisition | Pixr8 News

Zomato Board approves Paytm Insider Acquisition

23Aug By AdityaNo Comments

News

Zomato Board approves Paytm Insider Acquisition

New Delhi, 23rd Aug 2024: Zomato's board of directors has made a significant move by approving a share purchase and subscription agreement aimed at acquiring the entertainment ticketing business Paytm Insider from One 97 Communications, a parent platform of Paytm. This acquisition involves two of One 97's wholly owned subsidiaries Orbgen Technologies Private Limited (OTPL) and Wasteland Entertainment Private Limited (WEPL). The transaction will occur through a slump sale, where One 97 Communications will transfer its movie ticketing operations to OTPL and its sports and events ticketing functions to WEPL. Following this transfer, Zomato will acquire all shares held by One 97 Communications in both OTPL and WEPL, thereby making them entirely owned subsidiaries of Zomato. In additi...

15Nov By AnkitaNo Comments

ACQUISITION

Uber Freight Completes Acquisition of Transplace

SAN FRANCISCO & FRISCO, Texas-- Uber Freight, a subsidiary of Uber Technologies, Inc. (NYSE: UBER), announced that it has completed the acquisition of Transplace from TPG Capital for approximately $2.25 billion in an all-cash transaction. As partial financing for this transaction, Abu Dhabi Growth Fund (ADG), D1 Capital, and GCM Grosvenor invested $550 million in Uber Freight. The transaction brings together Uber Freight’s vast network of digitally-enabled carriers with Transplace’s trusted shipper technology and operational solutions, ultimately creating one of the world’s leading logistics technology platforms to meet the rapidly evolving needs of shippers and carriers alike. “Logistics is going through a historic transformation. Unprecedented volatility, increasing supply chai...

Reliance Retail to acquire 40.95% stake in Just Dial

18Jul By PriyankaNo Comments

ACQUISITION

Reliance Retail to acquire 40.95% stake in Just Dial

Mumbai, Jul 18th, 2021: Reliance Retail Ventures Ltd (RRVL) will acquire a 40.95 percent stake in Just Dial for around $500 million to bolstering its digital services in India. Reliance investment in Just Dial is part of the conglomerate’s digital bet. Over the past many quarters, Reliance has announced a number of investments in companies like Netmeds, Urban Ladder, and others. RRVL the retail arm of Reliance Industries Ltd will also make a public announcement for an open offer for acquiring up to 2.17 crore equity shares of Just Dial (representing 26 percent share in the company), in accordance with Sebi Takeover Regulations, a regulatory filing said. Just Dial founder VSS Mani will continue as Managing Director and Chief Executive Officer to lead the company through the next ph...

Foursquare Acquires Geospatial Analytics Platform Unfolded

20May By AnkitaNo Comments

ACQUISITION

Foursquare Acquires Geospatial Analytics Platform Unfolded

NEW YORK, 5/20/2021-- Foursquare announced the acquisition of Unfolded a next-generation platform for geospatial analytics. With the addition of Unfolded’s capabilities to the Foursquare technology stack, enterprises and brands can soon come to Foursquare to not only access its industry-leading location data, but work with that data in an integrated platform for merging, enriching, analyzing, and visualizing spatial data - in whatever environment they choose. “Welcoming Unfolded to the team makes the Foursquare platform more powerful, robust, and accessible to our clients and partners,” said Gary Little, President and CEO of Foursquare. “This acquisition accelerates us toward our ambitious goal of bringing Foursquare Everywhere, and enabling businesses to unlock the true potential of lo...

Microsoft acquires Nuance Communications for $19.7 billion

12Apr By AnkitaNo Comments

ACQUISITION

Microsoft acquires Nuance Communications for $19.7 billion

Wash., and BURLINGTON, Mass. – April 12, 2021 – Software giant Microsoft has acquired Nuance Communications, Inc. (Nasdaq: NUAN) in an all-cash transaction valued at $19.7 billion. Nuance is a trusted cloud and AI software leader representing decades of accumulated healthcare and enterprise AI experience. Mark Benjamin will remain CEO of Nuance, reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft. The transaction is intended to close this calendar year. In 2020, Microsoft has accelerated its efforts to provide industry-specific cloud offerings Microsoft Cloud for Healthcare. Which aims to address the comprehensive needs of the rapidly transforming and growing healthcare industry. The latest acquisition announcement will help Microsoft’s industry-specif...

Byju’s acquires Aakash Institute for $1 billion

5Apr By AdityaNo Comments

ACQUISITION

Byju’s acquires Aakash Institute for $1 billion

As reported earlier by Pixr8 News, Edtech platform Byju's acquires India's leading engineering preparation coaching Akash Institute in a $1 billion cash and stock deal. AESL Managing Director Aakash Chaudhry said, "the transaction with Byju's is 60-65 percent cash and the remaining 35 percent are Byju's equity deal. The overall deal value is close to about USD 1 billion. This will be the largest integration in the education space in India, especially in the startup space. COVID has really opened the gates to online education significantly and going forward, we believe that all kinds of models in education will exist in K-12, test prep, and even in higher education". Blackstone Group and Aakash Educational Services Ltd (AESL) founders will hold a minority stake in Byju's, which is va...

Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

14Dec By PriyankaNo Comments

ACQUISITION

Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

SEOUL, South Korea, Dec. 14, 2020-- Hyundai Motor Group will acquire 80% stake in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. Financial terms were not disclosed. Hyundai Motor Group will hold an approximately 80% stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction. The acquisition will mark another major step for Hyundai Motor Group toward its strategic transformation into a Smart Mobility Solution Provider including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots. Boston Dynamics produces highly capable mobile robots with ...

23Nov By AdityaNo Comments

ACQUISITION

GlobalLogic Acquires UK based ECS Group

SAN JOSE, Calif. & LONDON, Nov 23rd, 2020-- GlobalLogic has acquired ECS Group, a leading digital transformation and DevOps consultancy firm. The Terms of the transaction were not disclosed. Headquartered in London, ECS delivers digital solutions that harness the latest cloud technologies, with a focus on Digital Engineering, Data Analytics and Customer Experience. The company serves multiple industries, with particular expertise in the banking and financial services sector. With the acquisition of ECS, GlobalLogic advances its European strategy, expands its Financial Services footprint and adds a host of complementary cloud-centric offerings to its portfolio. ECS brings to GlobalLogic a highly regarded proficiency in cloud architecture and advisory services as well as ex...

7 Reasons to Avoid When Selling a Business

7Oct By NitishNo Comments

ANALYSIS

7 Reasons to Avoid When Selling a Business

TAMPA, Fla., Oct. 6, 2020-- Edison Avenue has had enough of witnessing entrepreneurs giving away their net worth to private equity groups, family offices, and other sophisticated investors. The unspoken truth is that many former business owners don't talk about out of embarrassment that they fell into one of these costly traps. Invisible Ink: Frequently an LOI is not worth the paper it is written on. Often, far too many of the terms and conditions are left unaddressed or vague. Business owners often think they understand the price and terms of the LOI to purchase their business. After the buyer's team of accountants, attorneys, and other professionals comb through the business every flaw will be uncovered and used to reduce the price. The...

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 welco...

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 n...

Eicher Motors acquires Volvo Group India

13Aug By PriyankaNo Comments

Automobile

Eicher Motors acquires Volvo Group India

New Delhi, Aug 13, 2020: Eicher Motors subsidiary VE Commercial Vehicles has entered into a business transfer agreement to acquire Volvo Group India's bus business for a cash consideration of around $13 million (Rs 100.50 crore). VE Commercial Vehicles Ltd (VECV) is in the business of manufacturing and selling the Eicher branded trucks and buses and also distributes Volvo branded trucks and provides aftermarket services and distribution of spare parts for Volvo branded trucks and buses. Apart from being a subsidiary of the company, VCEV is also a joint venture between Eicher Motors and Volvo Truck Corporation, Sweden and Aktiebolaget Volvo (Publ.), Sweden. VECV entered into a business transfer agreement on August 12 with Volvo Group India for acquisition, as a going concern on slu...