Acquisition | Pixr8 News

29Mar By Sheldan RungasamyNo Comments

News

BillDesk Looking to Sell For $2 billion

BillDesk, a payments gateway is looking to sell its company as the company’s private equity investors want to leave the company due to an overall growing interest of investing in payments market, according to reports. Those investors include private equity companies TA Associates and General Atlantic and venture capital firm Clearstone Venture and government held Singaporean company Temasek Holdings. BillDesk has already contacted three potential buyers in the name of PayU, American Express and PayPal but refused to sell the company below their asking price, which stands between $1.5-2 billion. A price that none of the above-mentioned companies is ready to meet and all three deals fell through due to valuation disagreements. BillDesk decided to keep operating independently until and unl...

OYO Acquires Chennai based Startup in all Cash Deal

19Mar By Sheldan RungasamyNo Comments

ACQUISITION

OYO Acquires Chennai based Startup in all Cash Deal

OYO, the network of budget hotels recently made the acquisition of Chennai-based service apartment operator Novascotia Boutique Homes, which moreover marks the company’s first major takeover and proves its dominance in the market they operate. The deal’s negotiations begun in last October and materialized last month. Despite OYO company executives’ opting to keep the financial details of the deal confidential, the company backed by SoftBank Group is rumored to have struck the Novascotia acquisition at around $1 million. This deal is a significant landmark for the Gurgaon-based company as it marks its first all-cash deal for a brick-and-mortar company. Previously, OYO began negotiations to acquire smaller competitor Zo Rooms, but wrote off the deal in October 2017 after finding out th...

13Mar By Sheldan RungasamyNo Comments

ACQUISITION, News

Fulcrum Exits Curation Healthcare, Makes 15 Times Return

Fulcrum, a founder focused private equity firm from Chennai recently announced a partial exit from leading Indian dermatology products company Curatio Healthcare. The equity company is selling a portion of its stake to ChrysCapital which is an Indian focused investment firm possessing around $3 billion of assets under their wing. Although the exact amount of the deal remained unrevealed, Fulcrum received a cash return of 15 times the capital they invested and an Internal Ratio of Return (IRR) striking at 40%. This is already the second partial exit of Fulcrum from Curatio. Back in 2015, Fulcrum sold an important portion of their stakes in the dermatology products company to Sequoia and received 6 times the capital they invested. Fulcrum first became associated with Curatio in 2005...

13Mar By NitishNo Comments

ACQUISITION

HR Firm PeopleStrong Acquires Capabiliti, Fifth Acquisition in a Row

India's fastest growing SaaS HR Technology and Solutions company PeopleStrong has acquired Capabiliti for an undisclosed amount. The Capabiliti is the subsidiary of Qustn Technologies. Capabiliti will be part of PeopleStrong Alt product suite and their team will join the product group of PeopleStrong. The founder of Qustn technologies Mrigank tripathi will be a part of the leadership team and will lead the go-to-market initiatives for PeopleStrong's Human Capital Management business. Established in Oct 2014, by Mrigank Tripathi & Sachin Grover, Capabiliti's is a Saas-based platform allowing companies to deliver their training to its remote users. The acquisition will help Capabiliti to integrate with PeopleStrong's Alt platform and will offer the service to PeopleStrong custom...

Home Rental Startup ZiffyHomes Acquires FellaHomes

15Feb By PriyankaNo Comments

ACQUISITION

Home Rental Startup ZiffyHomes Acquires FellaHomes

Delhi based home rental solution provider ZiffyHomes, operated by Ziffy Technologies Pvt. Ltd, has acquired FellaHomes for an all-cash and equity deal. However, the amount has not yet been disclosed. Ziffy said in a statement that the acquisition was in line with its expansion strategy. After this acquisition, it would now become one of the largest aggregators of exclusive rental properties in Delhi-NCR. “Both Fella and Ziffy have been trying to solve the same problem in the same market while working with same partners, vendors, and customers in the ecosystem. So, we realised that our common mission can be faster accomplished if we join hands and combine our strengths,” said Digendra Singh Rathore, CEO & Co-Founder at FellaHomes. After this acquisition, the founder of FellaHom...

Chennai Based Genie Acquires Food Delivery Platform Dinein

6Feb By AdityaNo Comments

ACQUISITION

Chennai Based Genie Acquires Food Delivery Platform Dinein

Hyperlocal delivery and logistics startup Genie Solutions Pvt Ltd has recently acquired food delivery firm Dinein in an all stock deal, as per the company release. The acquisition is the part of the Genie's plan to strengthen its business by adding up the Dinein's 25-member team, delivery fleet, restaurant partners and their technology in their business in a bid to expand their presence in Chennai. However, the financial details of the deal have not been disclosed. Dinein, launched in 2012 has collaborated over 250 restaurants in Chennai, helping them in their food delivery process and claims to oversee 6000 orders in a month. “We see this as a great opportunity to grow and offer great experience to customers. With a focused food delivery service and a pureplay logistics platform ...

PeopleStrong Acquires Referral Hiring and Matchmaking Platform Grownout

31Jan By AdityaNo Comments

ACQUISITION

PeopleStrong Acquires Referral Hiring and Matchmaking Platform Grownout

PeopleStrong, India's leading SaaS HR Technology and Solutions company from India, announced the acquisition of Grownout, a B2B SaaS referral platform for an undisclosed amount. With this acquisition, PeopleStrong's SaaS HR technology, PeopleStrong Alt, will become the only global recruitment product from India with a comprehensive offering, right from sourcing, matchmaking to offer generation and onboarding all powered by Machine Learning. A Matrix partners India portfolio company, Grownout was established in 2014 by Sumit Gupta and Harsimran Walia. Grownout started with the vision of making hiring easy, quick and fun by revolutionizing the way referrals are managed. It ensures that a company gets the network of all its employees first-hand and does not depend on the employees to reach...

American Express Acquires India’s Travel Assistant App Mezi For $150 Million

30Jan By NitishNo Comments

ACQUISITION

American Express Acquires India’s Travel Assistant App Mezi For $150 Million

American Express today said it has acquired Mezi, a personal travel assistant app that helps consumers plan and book trips. The deal size is around $125-150 million. This is the record acquisition in the history of Indian startups. Founded in 2015 by twin brothers Swapnil Shinde and Snehal Shinde, Mezi will now operate as a wholly-owned subsidiary of American Express. Mezi, which is also backed by Nexus Venture Partners, uses artificial intelligence (AI) and human expertise to personalise online travel discovery and booking experience. "Mezis AI-powered experience opens up exciting new ways for us to connect with and serve our card members and creates opportunities for us to build more meaningful relationships with them," Phil Norman, vice president of American Express Digital Lab...

Future Group Buys Snapdeal’s logistics Service Vulcan Express For Rs 35 Crore

26Jan By AdityaNo Comments

ACQUISITION

Future Group Buys Snapdeal’s logistics Service Vulcan Express For Rs 35 Crore

Kishore Biyani's Future Supply Chain Solutions today said it will fully acquire Snapdeal's logistics service provider Vulcan Express Pvt Ltd in an all- cash deal valued at Rs 35 crore. Future Group Founder and Chairman Kishore Biyani said in a statement that through Vulcan, the company plans to boost its last mile capabilities and also offer state-of-the-art solutions to its e-commerce and retail clients. Snapdeal Chief Strategy and Investment Officer Jason Kothari said: "Similar to our recent sale of FreeCharge, we believe Snapdeal s sale of Vulcan Express to Future Group is a successful deal for all three parties." The statement also quoted Kothari as saying that the company "divests off an asset that is non-strategic in nature for Snapdeal 2.0, allowing it to focus its capital ...

18Jan By Ankita SinghNo Comments

ACQUISITION

Grab Announces Acquisition of Bangalore Based Payments Startup

Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced it has acquired Bangalore-based payments startup iKaaz. The rich functionality of iKaaz’ mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Already Southeast Asia’s #1 ride-hailing platform, Grab is expanding across all markets in Southeast Asia in 2018 with the goal of becoming the region’s universal payments platform. Launched in 2014, iKaaz’ technology was built to work in India’s challenging internet conditions and enable effortless and fast payments for thousands of merchants. ikaaz’ technology stack encompasses a range of innovations, such as NFC, QR-code, audio-based p...

InMobi Acquires Los Angeles Based AerServ for $90 Million

11Jan By AnkitaNo Comments

ACQUISITION

InMobi Acquires Los Angeles Based AerServ for $90 Million

InMobi, the world's largest independent mobile advertising platform, today announced the acquisition of AerServ for $90 million in cash and stock to create the industry's first mediation platform with a unified programmatic auction for mobile in-app publishers. This acquisition will enhance monetization for publishers globally and further enhance the InMobi Exchange, a premium mobile programmatic platform. Globally, mobile premium publishers seek greater control over advertising revenue and deeper transparency into both the buyer landscape and pricing than what supply-side platforms offer today. These publishers are looking to further scale their advertising revenue using a best-in-class programmatic exchange, which will bring header bidding into mobile in-app for the first...

Bengaluru Based Venture Firm Acquires Beverages Firm

9Jan By AnkitaNo Comments

ACQUISITION

Bengaluru Based Venture Firm Acquires Beverages Firm

Co-Create Ventures, a Bengaluru based investment firm has acquired Indulge Beverages, which owns coffee and tea brand Bonhomia. Financial details of the deal were not disclosed. "Indulge is a great company and the founders have done a fantastic job in building the brand Bonhomia. We are delighted to take on the baton from the founders and grow the company multi-fold over the next few years," Suresh Narasimha, CEO, Co-Create said in a statement. City-based Indulge Beverages was founded by London-based former investment banker Kunal Bhagat and ex-Pepsico executive Tuhin Jain. Both the founders exited the venture via sale to Co-Create. "Bonhomia has redefined coffee consumption in India and our figures show that the trend is here to stay. We have taken the brand from concept to market do...