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Niyo acquires wealth-tech startup Goalwise

29Jul By Press Trust of IndiaNo Comments

ACQUISITION

Niyo acquires wealth-tech startup Goalwise

Jul 28, 2020: Digital banking fintech startup Niyo has acquired mutual funds investment platform Goalwise in a cash-and-stock deal to expand its product offering, a release said on Tuesday. The Bengaluru-based company did not disclose the financial value of the acquisition. "Niyo co-founders Vinay Bagri (CEO) and Virender Bisht (CTO) have picked up majority stakes in the start-up, along with Niyo, in a cash-and-stock deal for an undisclosed amount," the release said. The Goalwise founding members will join Niyo''s leadership team and will be running Niyo Wealth as an independent vertical within Niyo, it added. The COVID-19 pandemic has significantly increased the demand for digital banking and related services. The release further said the acquisition is in line with Niyo''s...

Adevinta Acquired eBay Ad Classifieds business for $9.2 billion

23Jul By AdityaNo Comments

ACQUISITION

Adevinta Acquired eBay Ad Classifieds business for $9.2 billion

SAN JOSE, Calif., July 23, 2020-- Adevinta acquire eCommerce company eBay's classified ad business for $9.2 billion in a cash and stock deal. As part of the transaction, eBay will receive $2.5 billion in cash and approximately 540 million Adevinta shares which would represent an equity stake of approximately 44% based on the number of Adevinta's outstanding shares, as of the end of the second quarter, and a ~33.3% voting stake. This sale creates short-term and long-term value for shareholders and customers while allowing us to participate in the future potential of the Classifieds business. Adevinta is a global online classifieds specialist, currently operating in 15 countries, with a portfolio that spans 35 digital products and websites. eBay's Classifieds platforms include a co...

Paytm & Its founder acquires insurance company Raheja QBE

6Jul By AdityaNo Comments

ACQUISITION

Paytm & Its founder acquires insurance company Raheja QBE

Mumbai, July 6, 2020: Leading digital payments platform Paytm & its founder Vijay Shekhar Sharma acquire Mumbai-based private sector general insurance company Raheja QBE. Started in 2009, Raheja QBE is a joint venture between Prism Johnson Limited and QBE Insurance Group, one of Australia's largest insurers. Prism Johnson Ltd approved divestment of its entire holding of 51 percent in Raheja QBE General Insurance Company Limited (RQBE) to QORQL Private Limited, a technology company with majority shareholding by Sharma and the remaining held by Paytm (owned by One97 Communications Limited), for an aggregate consideration of around $40 million (Rs 289.68 crore). "It is an important milestone in Paytm's financial services journey and we are very excited to welcome Raheja QBE Gener...

Affle to acquire 8 pc stake in Indus OS for $2.86 million

3Jul By PriyankaNo Comments

ACQUISITION

Affle to acquire 8 pc stake in Indus OS for $2.86 million

San Francisco, 3rd July 2020: Mobile advertising company Affle said it will acquire 8 percent stake in smartphone operating system firm Indus OS. "Affle (India) Ltd through its subsidiaries announced the signing of a definitive agreement to acquire 8 percent ownership in OSLabs Pte Ltd, Singapore, (Indus OS). Indus OS operates India's largest independent indigenous app store, with key investment from Samsung Venture Investment Corporation," Affle said in a statement. According to a regulatory filing, Affle will pay USD 2.86 million or about Rs 21 crore to Indus OS for the stake. "We derive significant synergies with the Indus App Bazaar which, through its multi-lingual capabilities, deeply enhances our vernacular scale and the verticalisation strategy. "It strengthens Affle's p...

Galaxy Semiconductor Acquires Quantix Business from Siemens

29Jun By AdityaNo Comments

ACQUISITION

Galaxy Semiconductor Acquires Quantix Business from Siemens

MENLO PARK, Calif., June 29, 2020 -- Galaxy Semiconductor acquire substantially all of the assets of the Quantix Business from Mentor Graphics Corporation, a Siemens-owned business. The acquisition will allow Galaxy to re-establish itself as the premier independent provider of test data management and analysis solutions for the semiconductor industry. The transaction is expected to close in a few weeks. The terms of the deal are not being disclosed. "We chose to continue with the Galaxy name because of the many years of history and the strong reputation that it enjoys in the semiconductor industry," said Philippe Lejeune, Board Chairman and CTO of the newly formed company. "I'm looking forward to leading this great team to design and build amazing new products that address diffic...

Sweden based Sinch acquire ACL Mobile for $70 Million

15Jun By AdityaNo Comments

ACQUISITION

Sweden based Sinch acquire ACL Mobile for $70 Million

Stockholm, Sweden, 15th June, 2020: Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, has acquired ACL Mobile Limited for $70 million. Founded in 2000, ACL Mobile is a leading provider of cloud communications services in India and Southeast Asia. Its platform enables businesses to interact with their customers through multiple channels including SMS, voice, email, IP messaging, and WhatsApp. The company serves more than 500 enterprise customers and is particularly successful in Banking and Financial Services industry, where ACL’s proprietary Axiom platform offers intelligent routing and granular access controls that specifically caters to the stringent security requirements of demanding financial institutions. Leading financial institutions...

Los Angeles based RepairSmith Acquires More Automotive Group

12Jun By AnkitaNo Comments

ACQUISITION

Los Angeles based RepairSmith Acquires More Automotive Group

LOS ANGELES, June 11, 2020 -- RepairSmith announces the acquisition of More Automotive Group, a leading provider of mobile repair and maintenance services for fleets, property managers, and corporate office parks in the San Francisco Bay Area and Sacramento. Founded in 2016, More Automotive Group services thousands of vehicles annually, delivering on-site repair and preventative maintenance including oil changes, filter and wiper blade replacements, tire rotation, brake and suspension repairs and check engine light diagnostics. Concierge service to an off-site repair facility is also available for more complex work. "We look forward to helping RepairSmith through a commitment to trust, quality and exceptional service," said Tim Kennedy, former owner of More Automotive Group, and now,...

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...

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...

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.