Acquisition | Pixr8 News

Reliance Brands Ltd Buys Out a Lifestyle Company at $30 Million

9Jun By Gauri SinghNo Comments

ACQUISITION

Reliance Brands Ltd Buys Out a Lifestyle Company at $30 Million

A subsidiary of Mukesh Ambani-led Reliance Industries Limited called ‘Reliance Brands Limited’ has bought 100% stake in Rhea Retail Private Limited and has successfully acquired it for Rs 203.46 crore ($30 million) in cash. Rhea Retail is a Delhi-based privately owned firm which was founded in 2007 and its main line of business comprises of the distribution of women's, expectant mother’s, children's, and infants' clothing and accessories. Its revenue for the year through March 2018 was Rs 200 crore, the same as the previous year. On the other hand, Reliance Brands Limited is a part of Reliance Industries Group which too began its operations in 2007. It deals in over 40 international brands and aims to launch and build international and domestic brand equity in the premium to luxury s...

Microsoft Acquire Coding Site GitHub Inc For $7.5 Bn

4Jun By Gauri SinghNo Comments

ACQUISITION

Microsoft Acquire Coding Site GitHub Inc For $7.5 Bn

According to the reports, the software leader Microsoft has approved of buying out GitHub Inc. for $7.5 Billion. Github is the world's leading company for providing open-source code hosting services. GitHub was last valued at $2 billion back in 2015, however, the terms of the present deal are still not known and have neither been publicized by the company. Microsoft said in a statement, "it will acquire GitHub for USD 7.5 billion in Microsoft stock." Subject to customary closing conditions and regulatory review, the deal is expected to be finalized by the end of the year. GitHub Inc. is a private company which is basically an internet-based hosting service designs and develops an online platform to enable the users to store and share codes repositories (a central location in wh...

31May By Gauri SinghNo Comments

ACQUISITION

Treebo Makes its First Acquisition by Getting Hold of Events High

India’s third-largest Bengaluru-based Hotel chain, Treebo Hotels has made its very first acquisition by getting hold of an event and activity discovery platform that brings all events, movies and things to do in various cities of our country. The acquired company is known as Events High. The event company provides various kind of information to the customers regarding the events and activities and also the ability to book them in 8 cities (Bengaluru, Mumbai, Delhi, Chennai, Hyderabad, Pune, Kolkata and Goa). The activities that they offer consists of – concerts, heritage walks, treks and hikes, dance workshops, educational workshops, cooking classes, sports carnivals, summer camps, road trips, language festivals, parties and nightlife and various other adventurous activities and fun eve...

Softbank Finally Agrees to Pay $600 Million to Indian Government, Sold Flipkart Stakes to Walmart

22May By Sheldan RungasamyNo Comments

BUSINESS

Softbank Finally Agrees to Pay $600 Million to Indian Government, Sold Flipkart Stakes to Walmart

Softbank is finally putting an end to the months of speculations over his future with Flipkart post the Walmart acquisition deal. The Japanese conglomerate has now agreed to sell its 23.6% stake in Indian e-commerce major Flipkart to its new owners, Walmart for around $4 Bn. Several reports varied over the future of Masayoshi Son’s investment firm in the e-commerce giant despite the billionaire CEO unintentionally confirming the acquisition deal on May 9. In fact, the Japan-based company was still analyzing and examining the option of whether or not staying in Flipkart. The reason for this indecision was mainly motivated by the large amount of tax that Softbank would be subject to for leaving a company in such a short term. Softbank acquired 23.6% stakes in Flipkart last year for an ...

German Bank Acquires Mumbai-based Fintech Startup

16May By Sheldan RungasamyNo Comments

ACQUISITION

German Bank Acquires Mumbai-based Fintech Startup

Deutsche Bank, the German investment bank and financial services recently announced the acquisition of its first Indian fintech startup, Quantiguous Solutions for an undisclosed amount. The acquisition was made as the bank looks to strengthen several divisions and applications. Post the acquisition deal, all employees of Quantiguous will move to Deutsche Bank offices and will integrate the core team posted to develop and roll-out the bank’s global application programming interface (API). Quantiguous solutions will be assigned to help develop Deutsche Bank’s global transaction banking franchise business. “The future of banking depends on connectivity which is key to drive growth for our global franchise,” said head of global transaction banking, John Gibbons. “The need to provide a...

Paymate Acquires Lending Platform to Help SMEs

15May By NitishNo Comments

ACQUISITION

Paymate Acquires Lending Platform to Help SMEs

Mumbai- India’s payment startup PayMate announced the acquisition of Z2P (Zaitech Technology Pvt. Ltd.), a digital lending platform which provides hassle-free and real-time credit using social and banking data along with proprietary analytics and AI. The acquisition is expected to be completed by May 2018 and it follows the announcement in February of this year by PayMate of its B2B partnership agreement with Visa. As a result of the acquisition, PayMate acquires an innovative and proven lending solution in Z2P, which when combined with PayMate’s proprietary B2B payments platform will revolutionize the way businesses manage their payment operations, cash flow, and access to growth capital. PayMate plans to partner with banks and NBFCs to improve the flow of credit to SMEs. According to ...

SoftBank Undecided on Selling its 22% Stake in Flipkart

11May By Press Trust of IndiaNo Comments

News

SoftBank Undecided on Selling its 22% Stake in Flipkart

New Delhi: SoftBank founder Masayoshi Son yet not decided to sell its 20-22% stake in Flipkart to Walmart Inc., sources close to the company told to Pixr8 News. After seeing the valuation of the company, Masayoshi Son is in dilemma and will take a call in the next 7-10 days on whether to exit India’s biggest online retailer or stay invested for a long time. If SoftBank decides not to sell its stake then Walmart left with about 55% stake of Flipkart. All other significant shareholders like Naspers, venture fund Accel Partners and eBay had confirmed selling their shares in Flipkart to Walmart. Though on Wednesday, Us retail giant Walmart Inc has announced that it will pay about $16 billion to buy 77% stake in Flipkart. A statement issued by Walmart identified Flipkart co-founder Binny B...

These Flipkart Employees Become Instant Millionaire After Walmart Deal

10May By Sheldan RungasamyNo Comments

News

These Flipkart Employees Become Instant Millionaire After Walmart Deal

While most Indians reacted with contempt to the news of the acquisition deal of Bengaluru-based Flipkart by Arkansas-based retail giant Walmart, many Flipkart employees must be in the seventh of heavens right now. Indeed, after the $16 billion acquisition for 77% stake, several employees are set to become millionaires from the deal as large payouts in the form of Employee Stock Option Plan (ESOP) since the company’s valuation raised from $15 billion to $20 billion. Speaking before the acquisition deal was confirmed, a Flipkart employee said, If this deal materializes, it will give a strong value to the concept of ESOPs, something that other startups may like to emulate. They will have the hope that even their companies will have an IPO or get big investors and give them a chance to ...

Now Its Official! Walmart Acquires 77% of Flipkart for $16 Billion

9May By Sheldan RungasamyNo Comments

ACQUISITION

Now Its Official! Walmart Acquires 77% of Flipkart for $16 Billion

Walmart. Inc has officially acquired Flipkart for $16 billion in a deal that soared the valuation of Indian e-commerce platform to over $20 billion, making it the biggest e-commerce acquisition ever globally. The brick-and-mortar company acquired 77% of the Indian e-tail business. The news was also confirmed by previous Flipkart investor, Softbank CEO, Masayoshi Son who also stated that the Japanese conglomerate sold out the 20% stakes it bought last year for $2.6 Bn at $4 Bn, therefore making a 60% profit on its initial investment. Out of the 50 existing investors in Flipkart, only Tiger Global Management and Tencent are expected to prolong their association with the e-commerce giant. This is also the first time that a US company bought out an entire online platform in India, driven...

How the World Reacts to the Flipkart-Walmart Acquisition Deal

9May By Sheldan RungasamyNo Comments

News

How the World Reacts to the Flipkart-Walmart Acquisition Deal

The Flipkart-Walmart acquisition deal is almost completed and only details are left to be finalized. Walmart CEO Doug Macmillan and other Walmart top executives are reportedly set to reach Indian soil shortly to officially announce the completion of the deal between the brick-and-mortar giant and the Indian e-commerce company. However, while the deal met with some optimistic reaction from users and sellers, it does not make unanimous satisfaction in the country and has hit a few hurdles already with some people looking at the deal with skepticism. Here, we have compiled the best tweets related to the acquisition deal : 1. Selling a business for $15 Bn is quite an achievement though... Walmart to acquire Flipkart for $15b. Most Indian #startups end up bein...

Sachin Bansal, Co-Founder of Flipkart Will Leave Post Walmart Acquisition

8May By Sheldan RungasamyNo Comments

News

Sachin Bansal, Co-Founder of Flipkart Will Leave Post Walmart Acquisition

Sachin Bansal, Executive Chairman and co-founder of Flipkart is set to sell his entire 5.5% stake of his company to American brick-and-mortar giant Walmart as the acquisition of India’s largest tech company seems imminent. Three people close to the company reported the news which was subsequently shared on various platform. Indeed, Sachin Bansal might be living his last days at the company he co-founder and grew to reach the homes of almost every Indian as Walmart prepares its $12-15 billion bid to acquire the e-commerce business valued to be worth $20 billion. The 5.5% stake he stills owns in the company will be sold for a reported $1 billion, making him an instant billionaire. Sources close to the company suggested that Sachin was “not aligned with the strategy and operating struct...

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

7May By Sheldan RungasamyNo Comments

ACQUISITION

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

Infibeam Incorporation Ltd, parent company of the country’s only listed e-commerce will acquire 100% stakes in the tech solutions company of Snapdeal, Unicommerce. Infibeam released a statement stipulating that in reached an agreement with Snapdeal’s parent company, Jasper Infotech Pvt. Ltd to acquire Unicommerce for the sum of Rs 120 crore. Snapdeal reported a 75% jump in loss for the financial year ended March 2017 and are now selling Unicommerce for 55% less than they acquired it in 2015 for $40 million. Founded by IIT Delhi alumni Ankit Pruthi, Karun Signla and Vibhu Garg in 2012, Unicommerce licensed a product called Uniware that is a software-as-a-service (SaaS) application for end-to-end management of order fulfillment. The application specializes in managing vendors, procurem...