Acquisition | Pixr8 News

Spotify to Acquire Parcast, a Premier Podcast Storytelling Studio

26Mar By PriyankaNo Comments

ACQUISITION

Spotify to Acquire Parcast, a Premier Podcast Storytelling Studio

NEW YORK-- Spotify Technology S.A. (NYSE:SPOT), the world’s most popular audio streaming subscription service, today announced that it has entered into a definitive agreement to acquire Parcast, a premier storytelling-driven podcast studio. Terms of the transaction were not disclosed. Since its founding in 2016, Parcast has launched 18 premium podcast series. Parcast will bring to Spotify its curated library of highly produced shows and its engaged, loyal audiences. With expertise in genres touching mystery, crime, science fiction, and history, Parcast has shown it has depth in subject matter and the ability to develop audiences across its robust network. Additionally, Parcast has more than 20 new shows slated to launch later this year. “The addition of Parcast to our growing roster ...

Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East

26Mar By reutersNo Comments

ACQUISITION, MIDDLE EAST

Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East

SAN FRANCISCO (Reuters) - Global ride-hailing firm Uber will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. Uber said it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem. The long-expected agreement ends more than nine months of start-and-stop negotiations between the two companies and hands Uber a much-needed victory after a series of overseas divestments. The notes will be convertible into Uber shares at a price equal to $55 apiece, Uber said, marking about a nearly 13 percent increase over Uber’s share price in its last financing round, led by SoftBank Group Corp more than a year ago. The acquisition makes ...

Pine Labs acquires Qwikcilver for $110 Million

23Mar By Ankita SinghNo Comments

ACQUISITION

Pine Labs acquires Qwikcilver for $110 Million

Payment and gift card technology firm Pine Labs to acquire its peer firm Qwikcilver for USD 110 million. The transaction has been funded from the company's cash reserves and additional funding from existing investors, it added. "According to market estimates, gift, as a category, is growing at a high double-digit rate annually. Qwikcilver's technology and market expertise will help us scale up this business and we are delighted to welcome it into Pine Labs," said Vicky Bindra, chief executive officer, Pine Labs. Qwikcilver, which was founded in 2006, offers nine out of every 10 gift cards in the country and manages an annualised gross transaction value of USD 1.5 billion across India, Middle East and South East Asia. Pine Labs started its own gift solutions business - Pine Perk...

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

22Mar By Press Trust of IndiaNo Comments

Automobile

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

New Delhi: Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG. As per the offer, Pierer Industrie still retains the controlling majority over KTM Industries AG. "Pierer Industrie AG and Bajaj will now evaluate the proposals in detail. The transaction decision is targeted to be made in the second quarter of 2019," Bajaj Auto said in a regulatory filing Thursday. At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG. The listed company KTM Industries AG holds approximately 51.7% of the shares of KTM AG. "If Pierer Industrie AG and Bajaj decide to execute the transaction, KTM Industries AG will examine the legal and economic requirements and cond...

Walt Disney Acquire 21st Century Fox in $52.4 billion stock deal

20Mar By PriyankaNo Comments

News

Walt Disney Acquire 21st Century Fox in $52.4 billion stock deal

BURBANK, Calif. & New York-- The Walt Disney Company to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock (subject to adjustment). Building on Disney’s commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose. Immediately prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten N...

Tech Mahindra to acquire K-Vision for USD 1.5 mn to expand 5G business

18Mar By Press Trust of IndiaNo Comments

ACQUISITION

Tech Mahindra to acquire K-Vision for USD 1.5 mn to expand 5G business

New Delhi: IT company Tech Mahindra will acquire Japan-based mobile network solution firm K-Vision for USD 1.5 million in an all-cash deal to support 4G and 5G telecom network roll out in Japan. "The investment committee of the board of directors of the company has approved the proposal to acquire 100 per cent shareholding in M/s K-Vision Co., Ltd through its wholly owned subsidiary ie Mahindra Engineering Services (Europe) Limited," Tech Mahindra said in a note. K-Vision provides network services for mobile communications to telecom operators in Japan. The company earned revenue of USD 4.8 million during 12-month period ended January 31, 2019. "Tech Mahindra through its wholly owned subsidiary...intends to leverage the local presence and expertise of K-Vision to build its ne...

16Mar By AdityaNo Comments

ACQUISITION

HH Global Acquires Alecom

Alecom, a print and luxury brand marketing services provider, has been acquired by HH Global, in a deal agreed on 28 February 2019. HH Global Ltd., founded in 1991, is a leading, independent marketing execution partner to prominent brands in 44 countries. The company offers innovative and tailored solutions for the outsourced procurement of all types of printed marketing materials and creative production services, that drive down cost, speed time to market, improve quality, and increase sustainability. Alecom was established in 2000 and supports both corporate and luxury brands including Boiron, Dior, Hermes, Cartier and Tag Heuer. The acquisition will deliver significant value to the clients of both HH Global and Alecom, through the strength of their combined proposition...

Ebix offers $336 Million to acquire Yatra.com

13Mar By PriyankaNo Comments

ACQUISITION

Ebix offers $336 Million to acquire Yatra.com

US-based software firm Ebix Inc Monday said it has offered to acquire Yatra Online Inc, the parent company of online travel firm Yatra.com, for $336 million (over Rs 2,345 crore). The company has sent a letter to the Board of Yatra Online, Inc outlining offer to acquire 100 per cent of the outstanding stock of Yatra Online for $7 per share on a debt-free basis, Ebix Inc said in a statement. Gurugram-based Yatra.com is a major player in the online travel sector and provides services including domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services. Ebix intends to merge Yatra Online in the company's Indian EbixCash subsidiary set up, it added."The Ebix offer, based on approximately 48 milli...

Airbnb acquires last minute hotel booking platform HotelTonight

8Mar By PriyankaNo Comments

ACQUISITION

Airbnb acquires last minute hotel booking platform HotelTonight

Airbnb, world's leading online room booking platform acquires last minute hotel booking platform HotelTonight. Working with the incredible team at HotelTonight, we will offer guests an unparalleled last-minute travel experience that provides unique, memorable hospitality on every trip, on any schedule, at any time.Brian Chesky, Airbnb Co-Founder, CEO and Head of Community Airbnb is an end-to-end travel platform that combines where you stay, what you do, and how you get there, all in one place. As per their data, more than 400,000 companies are using Airbnb to help manage their travel, and same-day bookings are now growing 2x year over year. HotelTonight is a hotel-booking service focused on making last-minute trips easy and fun, offering guests seamless, on-demand booking for bou...

7Mar By AdityaNo Comments

Tech

Apple acquires patents from Lighthouse, an AI home security camera startup

Apple is looking to upgrade Face ID in its upcoming phones and devices and has acquired patents of an AI security camera company, Lighthouse. Apple reportedly bought the patent portfolio of the company at the end of 2018, reported The Verge. The patents acquired by Apple largely deal with using computer vision to scan and recognise faces, which may mean that the company might upgrade Face ID in its upcoming devices. If those sound familiar, it’s because Lighthouse’s patents describe technology that’s quite similar to what Apple uses for Face ID on its iPhone XS and XR devices. It is possible that Apple is looking to use Lighthouse’s technology to advance Face ID further, maybe, in a version for a computer that would benefit from Lighthouse’s ability to tell ...

Taboola acquire the Start to Support Mobile Operators

4Mar By AnkitaNo Comments

ACQUISITION

Taboola acquire the Start to Support Mobile Operators

Taboola, the world’s leading discovery platform acquire the Start Division of Celltick, a global leader in mobile discovery and engagement, which includes the Start and Start Magazine product lines. After the completion of the acquisition, the Start team and technology will integrate into the Taboola News division to bring premium publisher content on mobile devices. Taboola News has already integrated with several mobile phone manufacturers including ZTE and vivo and this deal will expand Taboola News to support tier 1 mobile operators as well as device manufacturers and app developers. Taboola News creates an opportunity for OEMs and mobile carriers to bring a feed of personalized information directly into mobile devices, creating a new revenue stream. Start Magazine and its a...

After CCI Clearance, SoftBank Buys 22.44% stake in Indian Logistics Firm Delhivery

28Feb By AnkitaNo Comments

ACQUISITION

After CCI Clearance, SoftBank Buys 22.44% stake in Indian Logistics Firm Delhivery

The Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of 22.44 per cent stake in logistics firm Delhivery by SoftBank Vision Fund. The deal is worth over Rs 3,200 crore, according to reports. According to a filing to the CCI, the deal involves subscription of 22.44 per cent of the total share capital of Delhivery and consequently “potential subsequent acquisition of shares at a price and on such terms to be agreed.” The Japanese company will invest in the logistics firm through its holding company SVF Doorbell. In a tweet, the CCI said it “approves acquisition of 22.44 per cent of the total share capital of Delhivery Pvt Ltd (on fully diluted basis) by SVF Doorbell (Cayman) Ltd“. SoftBank Vision Fund is a venture capital fund focused on ...