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Microsoft Acquires an Austin-based Software Developer

15Nov By Gauri SinghNo Comments

ACQUISITION

Microsoft Acquires an Austin-based Software Developer

The international technology giant Microsoft has reportedly acquired an Austin-based software developer called Xoxco. This acquisition has marked the fourth AI-related company Microsoft has purchased this year. Founded in 2009, Xoxco has raised $1.5 million. It began working on bots in 2013, and is credited with developing the first bot for Slack to help schedule meetings. However, the financial details of the deal have not been disclosed. “Today, we are announcing we have signed an agreement to acquire Xoxco, a software product design and development studio known for its conversational AI and bot development capabilities,” Lili Cheng stated. With this move, Microsoft is continuing to realize our approach of democratizing AI development, conversation and dialog, and integrating conver...

Logistics Firm FarEye Acquires IoT Platform Dipper

14Nov By Gauri SinghNo Comments

ACQUISITION

Logistics Firm FarEye Acquires IoT Platform Dipper

Saif Partners-backed SaaS company FarEye has reportedly acquired an internet-of-things (IoT) platform called Dipper Technologies which provides visibility and predictability in freight movement. However, the financial details of the deal have not been disclosed. FarEye recently raised Rs 61 crore in its third round of fundraising and is now expecting to secure more capital next year. FarEye is a software-as-a-service (SaaS) provider for e-commerce and supply chain logistics companies. It helps logistics firms manage their supply chains and deliveries with its software-as-a-service (SaaS) business model. The company was founded in 2015 and works with international companies such as DHL, Amway and Blue Dart, and claims to back 10 million shipments every day. “This acquisition will hel...

Global Software Giant SAP Agreed to Acquire Qualtrics for $8 Billion

13Nov By Gauri SinghNo Comments

ACQUISITION

Global Software Giant SAP Agreed to Acquire Qualtrics for $8 Billion

German-based international software giant SAP has reportedly agreed upon acquiring an experience management company called Qualtrics. The particular deal is an all-cash deal and has been amounted for $8 billion. This acquisition has taken place just before the survey and research software company was set to go public. This deal is expected to be closed in the first half of 2019. Prior to this acquisition, the company had raised $180 million at a $2.5 billion valuation. And this acquisition marks as the second-largest ever acquisition of a SaaS company, after Oracle’s purchase of Netsuite for $9.3 billion in 2016. The software giant SAP claims that its software has touched 77 percent of the world’s transaction revenue, while Qualtrics’ products include survey software that enables ...

IT Company Mphasis Acquires Virginia-based Stelligent Systems

9Nov By Gauri SinghNo Comments

ACQUISITION

IT Company Mphasis Acquires Virginia-based Stelligent Systems

IT services company Mphasis is making big investments and has acquired Virginia-based cloud technology services company Stelligent Systems LLC in an all-cash deal. This deal has been valued at $25 million. The acquired company has specialization in DevOps automation on Amazon Web Services (AWS), which means, as more enterprises move to the cloud, Stelligent helps them deploy applications on the cloud with greater speed, agility and security. “Together with Stelligent and its community heroes in the AWS ecosystem, we believe we are uniquely positioned to take advantage of (public cloud infrastructure and SaaS software) market opportunity,” said Nitin Rakesh, CEO and Executive Director, Mphasis. “This allows us to join forces with an equally technically-deep company, bringing innovative,...

US-based Dialysis Chain NephroPlus Acquires DaVita Care India

6Nov By Gauri SinghNo Comments

ACQUISITION

US-based Dialysis Chain NephroPlus Acquires DaVita Care India

Nephrocare Health Services that operates a chain of dialysis centres under the NephroPlus brand, has acquired DaVita Care India in the latest sign of consolidation in a sector that has recorded private equity interest. Following the acquisition, NephroPlus will acquire DaVita India's network of 22 centers. These centres will be rebranded to Neproplus in a month’s time as stated by the company. Vikram Vuppala, founder and CEO at NephroPlus did not disclose the financial details of the deal, however, stated that DaVita India's annual turnover is around Rs 50 crore. DaVita India posted net sales of Rs 29 crore for the year through March 2017, up from Rs 22 crore the year before. It posted a net loss of Rs 19.9 crore, compared with Rs 15 crore the year before. Prior to this, US-bas...

Adani Transmission to Acquire KEC International’s Transmission Project

5Nov By Gauri SinghNo Comments

ACQUISITION

Adani Transmission to Acquire KEC International’s Transmission Project

Adani Transmission has reportedly entered into an agreement with KEC International for acquiring a transmission project, as the billionare Gautam Adani-led company continues to snap up power assets. It has been stated that Adani Transmission will buy KEC Bikaner Sikar Transmission for an enterprise value of Rs 227.5 crore ($31 million) in cash. This particular acquisition is in sync with the company’s strategy to enhance the value for its stakeholders through organic as well as inorganic opportunities as mentioned by the company, and, this transaction is expected to be completed in two to three months subject to all necessary regulatory approvals. Vimal Kejriwal, the managing director and chief executive at KEC International mentioned that the sale is in line with its strategy of ...

IT Company Viithiisys Technologies Acquires a Delhi-based Startup

3Nov By Gauri SinghNo Comments

ACQUISITION

IT Company Viithiisys Technologies Acquires a Delhi-based Startup

A boutique IT consulting and services company called Viithiisys Technologies has reportedly acquired an on-demand application development startup Actiwate. The particular deal will help the company to expand its product portfolio and list of clients. Based in Chandigarh and founded by Gaurav Saini, Viithiisys didn't disclose financial details of the deal. “This acquisition will help us build a robust and experience-oriented product with the potency to give voice to the people in the visitor management platform,” the CEO said. On the other hand, Actiwate was founded in 2016 and is operated by Delhi-based Partiko Services. The company has developed about 60 software products for various multinational companies as well as startups. The company claims to be profitable with more than 20...

IT Major TCS Acquires a London-based Digital Design Company

2Nov By Gauri SinghNo Comments

ACQUISITION

IT Major TCS Acquires a London-based Digital Design Company

The global leader in IT services TCS Consultancy has reportedly acquired a London-based digital design company known as W12 Studios. The financial details of the deal have not been disclosed. This marks as the company’s first acquisition in about four years. With a proper strategy and not following the path of its rivals, TCS stated that it would only look at acquisitions for truly niche technologies, preferring to build the talent in-house. On the other hand, Cognizant, Infosys and Wipro have made a number of digital acquisitions over the last few years. Also, this acquisition signifies that TCS is open to acquisitions instead of only building technologies and talent in-house. Prior to this, the IT major last invested $50 million in a joint venture with Mitsubishi Corp. in Japan in ...

NIIF to Acquire a Majority Stake in Non-bank Lender IDFC

1Nov By Gauri SinghNo Comments

ACQUISITION

NIIF to Acquire a Majority Stake in Non-bank Lender IDFC

India’s National Investment and Infrastructure Fund (NIIF) has agreed to acquire a majority stake in non-bank lender IDFC Ltd's infrastructure fund business in its first control transaction. The acquisition of the stake in IDFC Infrastructure Finance Ltd (IDFC-IFL), a non-banking company which manages a debt fund, will enable NIIF to provide private debt funding to infrastructure projects, according to a press statement on Wednesday. “This investment demonstrates the ability of NIIF to make commercially attractive counter-cyclical investments, since it comes at a time when the non-banking finance sector is facing some temporary headwinds," said Sujoy Bose, managing director and CEO at NIIF. This acquisition is the first investment from NIIF’s Strategic Fund and the first control trans...

Zydus Hospitals Acquires One of the Hospitals of Columbia Asia

31Oct By Gauri SinghNo Comments

ACQUISITION

Zydus Hospitals Acquires One of the Hospitals of Columbia Asia

Zydus Hospitals has reportedly acquired one of the dozen hospitals of Columbia Asia Hospitals for an undisclosed amount. Columbia Asia stated that it sold its only hospital in Ahmedabad (Gujarat), of 90 beds, set up in 2014. Zydus already has two hospitals in Gujarat which is a 650-bed unit in Ahmedabad and the other one in Anand. With this, Columbia Asia has plans to relocate its employees at the Ahmedabad unit to its other hospitals in the country. Zydus Hospitals is the family-funded business of the promoters of listed pharmaceuticals company Cadila Healthcare Ltd. On the other hand, Columbia Asia is a hospital chain that was founded in 1994. All the hospitals of Columbia Asia have been set up by the firm itself, which will be open to acquiring hospitals as well. The remaini...

Ronnie Screwvala’s Edtech Startup Acquires Acadview Software

30Oct By Gauri SinghNo Comments

ACQUISITION

Ronnie Screwvala’s Edtech Startup Acquires Acadview Software

UpGrad Education, the edtech startup of media entrepreneur and investor Ronnie Screwvala has in a deal acquired an online job skilling platform for undergraduates known as Acadview Software. The financial details of the deal were not disclosed. With this acquisition, UpGrad, which targets working professionals will foray into offering online courses for the college-going population. Talking about the acquired company, Acadview is a Gurugram based startup that was founded by Himanshu Batra and Varun Jain which helps fresh graduates upskill themselves with in-demand technologies through live online courses and industry projects. The company also offers infotech professionals an option to make an extra living by teaching these courses and mentoring students. “Education market in India ...

IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

30Oct By Gauri SinghNo Comments

News

IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

After the $33 billion acquisition of Red Hat, IBM will take over 1,000 people on board of the acquired company in the world’s second-largest technology deal so far. Along with this, IBM will get clients with high volume transactions that will include Bombay Stock Exchange and National Stock Exchange once the cash deal to acquire Red Hat Inc is completed. “The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” IBM chairman Ginni Rometty said. “IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses,” she said. Red Hat is known for its open culture that has been built by its CEO Jim Whitehurst and imbibed at its offices in India. BSE and N...