Acquisition | Pixr8 News

CapitalFloat Acquires Pune Based Fintech Firm in $30 Million

22Aug By NitishNo Comments

ACQUISITION

CapitalFloat Acquires Pune Based Fintech Firm in $30 Million

Digital lending firm Capital Float has acquired Pune-based fintech firm Walnut (Thumbworks Technologies) in a deal amounting to USD 30 million (about Rs 208.6 crore). Walnut offers a personal finance management mobile app that helps users to automatically track spends, bank and card balances, bill payments, and split expenses within a group. It has over seven million downloads on Google Play Store. In July 2017, Walnut had launched 'Walnut Prime', a small-ticket, app-based credit line for its users. It recently crossed Rs 100 crore in loans to users. "Their approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive... Walnut Prime is a product of deep interest to us, and it will essentially become a new addition to our sta...

Pepsi to Acquire SodaStream to Diversify its Portfolio

21Aug By Gauri SinghNo Comments

ACQUISITION

Pepsi to Acquire SodaStream to Diversify its Portfolio

One of the largest beverage company Pepsi has announced that it is eyeing to acquire SodaStream, which is a Tel Aviv-based beverage company. The deal is expected to be done at an amount of $3.2 billion. This step has been primarily taken because more consumers are these days preferring sustainable, in-home options rather than sugary beverages. Pepsi with this acquisition is trying to diversify its portfolio and expand its reach internationally. At present, Pepsi products are sold in retail shops in 45 countries, majorly in the U.S., Germany, France and Canada. “PepsiCo and SodaStream are an inspired match. Daniel and his leadership team have built an extraordinary company that is offering consumers the ability to make great-tasting beverages while reducing the amount of waste genera...

Hyderabad Based Media Firm Acquires 51 % Stake in Chintala Sports

20Aug By PriyankaNo Comments

ACQUISITION

Hyderabad Based Media Firm Acquires 51 % Stake in Chintala Sports

Hyderabad-based digital media firm Silly Monks has acquired a 51% stake in Chintala Sports Private Limited for an undisclosed amount. According to a press release issued by Silly Monks, Chintala Sports is the curator of Telangana Premier Kabaddi League (TPKL), a regional avatar of the hugely successful Pro Kabaddi League (PKL), in its second season in September. TPKL entered the sports league arena in 2017, with its first season held at Warangal and Karimnagar between January 21 and February 7, 2017, it said. TPKL's matches are scheduled to begin from September 14 to September 30, which will be held in Hyderabad. Silly Monks Managing Director, Mr. Sanjay Reddy, who now takes over as the League Commissioner said, "My years at ESPN, Star Sports and Sony Max handling major sports ...

CarDekho Buys Out Automotive Youtube Channel PowerDrift

17Aug By Gauri SinghNo Comments

ACQUISITION

CarDekho Buys Out Automotive Youtube Channel PowerDrift

Jaipur-based Girnar Software’s auto classified portals CarDekho.com has reportedly acquired PowerDrift Studios Pvt Ltd which is an Indian Automotive Youtube channel that operates content platform PowerDrift. The YouTube channel has over 1 million subscribers and offers video-based automotive content. With this acquisition, CarDekho has plans to move forward with the best in class video content. This will serve as a visual treat and decision making tool for all stakeholders. “These are exciting times. CarDekho has always innovated and focussed on providing the best user experience. Content plays an extremely important role in that. By bringing PowerDrift on board, I am convinced that this acquisition will prove to be a game-changer. I welcome each one from PowerDrift on-board and look f...

12Aug By NitishNo Comments

ACQUISITION

OYO Acquires Wedding Platform Weddingz

India's one of the leading hotel booking platform OYO acquires online wedding marketplace platform Weddingz in a cash-and-stock deal. Though the amount of the deal has not been disclosed. This is the third acquisition of Softbank backed company in this year. The Gurgaon based company acquired 100% stake in the wedding platform. The platform was backed by early-stage venture capital firms Singularity Ventures and Sixth Sense Ventures “We look at supply, whether it’s hotels, homes or banquets and are always interested in companies that have it and operate in a very similar manner to OYO,” said Maninder Gulati, chief strategy officer at OYO. Founded in 2015 by Sandeep Lodha, Weddingz is India's leading wedding planning platform. After the acquisition, OYO will not change the company ...

TPG May Acquire Large Stake in Big Data Firm Mu Sigma

6Aug By Gauri SinghNo Comments

ACQUISITION

TPG May Acquire Large Stake in Big Data Firm Mu Sigma

The big data analytics company Mu Sigma is in talks with the private equity player TPG Capital to sell a large stake sale in the firm. According to the sources, this acquisition of stake may result in a potential sale of the venture and this will value the company at around $1.2 billion. However, there has been no formal agreement regarding the same, the sources say the ongoing talks may not lead to a definitive deal and a complete exit for present shareholders is not being ruled out. “TPG and Mu Sigma are trying to explore if a deal is workable. The discussions have been substantial but contours of the transaction are yet to evolve,” stated a source familiar to the matter. He also told that the two companies have not involved any investment banks yet. The data analytics company ...

Dutch Brewer Heineken to Acquire Stake in China’s CR Beer

4Aug By Gauri SinghNo Comments

ACQUISITION

Dutch Brewer Heineken to Acquire Stake in China’s CR Beer

Dutch premium brewer Heineken which is the world’s second-largest beer maker is reportedly acquiring 40 percent stake in China’s CR Beer Co Ltd (China Resources Beer). According to the statement of CR Beer, the deal is worth $3.1 billion, and post-acquisition, Amsterdam-based Heineken will have a greater access to the network of China's premium beer space and a better understanding of the Chinese market. CR Beer is the largest brewer in China and is known for manufacturing the best-selling Snow Beer brand. This purpose of the company behind this deal is to further develop and enhance the high-end market of beer in China. With the help of Heineken's international distribution network, the brewer will be able to boost up the growth of Snow Beer and other brands in the international ...

Swiggy Acquires Mumbai-based on-demand Delivery Platform Scootsy

2Aug By Gauri SinghNo Comments

ACQUISITION

Swiggy Acquires Mumbai-based on-demand Delivery Platform Scootsy

The emerging foodtech platform Swiggy that is consistently in news for a long time, has now announced the acquisition of a Mumbai-based on-demand delivery firm known as Scootsy. The deal is a mostly-cash contract and this acquisition is worth about Rs 50 crore (under $8 million). This acquisition is expected to see Scootsy’s brand name being retained in Mumbai. However, it has not been clarified what the role of Scootsy’s founder team will be in the food delivery firm. It may happen that they join Swiggy’s management. Scootsy is an on-demand delivery firm in Mumbai which was founded in 2015. It has secured about Rs 25 crore as of now from Agnus Capital and Khattar Holdings. “The funding crunch has almost crippled Scootsy. The strength of riders has reduced impacting deliveries and the l...

31Jul By AnkitaNo Comments

ACQUISITION

SIS Eyeing To Acquire a Majority Stake in a Delhi-Based Company

Security and Intelligence Services (SIS), a security service provider based in New Delhi is eyeing to acquire a majority stake in another security management company for around Rs 300 crore. SIS is a BSE listed company and this acquisition will mark the very first acquisition by the security services provider that has created a war chest of around Rs 1,000 crore for acquisitions in the sector for next few years. “The deal is as good as done,” a banker close to the development stated. “SIS would have a controlling stake in the company that currently has a revenue of around Rs 400 crore,” he added. SIS is in advanced staged to take over the NCR based security and facility management company which hires around 15,000 people. However, the name of the company that is to...

eBay.in Plans to Acquire ShopClues For India Relaunch

28Jul By AnkitaNo Comments

ACQUISITION

eBay.in Plans to Acquire ShopClues For India Relaunch

US-based online retailer eBay is reportedly in talks with ShopClues to acquire the Gurugram-based e-commerce company After announcing its plan to relaunch its India business. Last year, eBay sold its India operations to Flipkart for $200 million, who recently said it will stop using the eBay.in platform. Meanwhile, eBay and ShopClues have both declined to comment on the acquisition reports. ShopClues is an online marketplace owned by Clues Network Pvt. Ltd. It was established in July 2011 in Silicon Valley by Sanjay Sethi, Sandeep Aggarwal and Radhika Aggarwal. Based in Gurgaon, India, the company claims to have over 6 lakh merchants and 2.8 crore products on its platform, serving over 32,000 pin codes across the country. ShopClues has recently raised $10 million from existing invest...

US-based Indigo Slate to be Acquired by Zensar Technologies

27Jul By Gauri SinghNo Comments

ACQUISITION

US-based Indigo Slate to be Acquired by Zensar Technologies

Zensar Technologies, an IT and infrastructure services provider has announced that it has entered into a definite agreement for the purpose of acquiring a US-based digital marketing firm known as Indigo Slate for $18 million. This amount will be paid in advance and there will be some amount which will be paid in future based on the performance over the next three years or so. Founded in 2006, Indigo Slate is a technology company that focuses on providing services like digital marketing initiative, website content design, mobile site creation. The company showed a revenue of approximately $20 million in the financial year 2018. “We are one of the leading players in the digital space within the country and nearly about 40 percent of Zensar’s turnover comes from its digital play which is...

Facebook Acquires Israeli Messaging Company REDKIX

27Jul By AnkitaNo Comments

ACQUISITION

Facebook Acquires Israeli Messaging Company REDKIX

Redkix, an Israeli email startup that provides tools to combines email, messaging and calendar features more effectively into one app has been acquired by Facebook. Facebook made the purchase in hopes of building out its own communication features inside Workplace, which is the enterprise version of Facebook. Redkix has raised $20 million and has offices in both Silicon Valley and Israel, it had from investors including Salesforce Ventures, has offices in California and Tel Aviv. The social networking giant declined to say what it paid in the acquisition. Facebook launched Workplace in 2016, which is a subscription-based social platform for businesses, is used internally by Facebook employees, is more like the regular, consumer version of Facebook which means that it has features lik...