Saturday, May 18

Tag: Acquisition

Healthcare Service Aggregator Click2Clinic Raises $850k From A Group Of Angel Investors
2Aug By AnkitaNo Comments
FUNDING

Healthcare Service Aggregator Click2Clinic Raises $850k From A Group Of Angel Investors

Health-tech startup Click2Clinic has recently raised around Rs 5.4 crore ($850,000) from a group of angel investors in the US and Malaysia, a company statement said. With this investment, Click2Clinic has acquired Wellness Home Health Care, an agency which offers home health care services in Bengaluru, for approximately Rs 4 crore in an all-stock deal. Founded by Chalapathi Naik and Rajneesh Chakravarthy, Wellness’ scope of services includes nursing, vital check-ups, wound dressing, nebulisation, medications, and bed bath by qualified health nurses. The Hyderabad-based Click2Clinic, which aggregates hospitals, diagnostic firms, pharmacies and ambulance services, will use the funds to strengthen its product offering and expand its services to new markets. Click2Clinic, which has...
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Flipkart Completes Its Merger With ebay.in
1Aug By Press Trust of IndiaNo Comments
ACQUISITION, News

Flipkart Completes Its Merger With ebay.in

E-commerce major Flipkart today said it has completed the merger with eBay Indias operations. With this, eBay.in will now be a Flipkart Group company. The deal was announced in April when the Flipkart group raised USD 1.4 billion from global technology majors eBay, Tencent and Microsoft. (more…)
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Facebook Acquires Artificial Intelligence Startup Ozlo For Messnger
1Aug By RishabhNo Comments
ACQUISITION

Facebook Acquires Artificial Intelligence Startup Ozlo For Messnger

Facebook has recently acquired its former Head of Platform for Android, Charles Jolley's conversational AI Startup Ozlo.  The Ozlo team is expected to join Facebook to work on natural language processing challenges. Ozlo will be working with Facebook on building experience powered by artificial intelligence and machine learning in blog post shown below. The four-year-old start-up claims that its virtual assistants can understand and provide answers to questions which do not have simple "yes" or "no" answers. Ozlo launched with a consumer-facing app in Oct. 2016 and with this acquisition it is no longer independent and the conversational AI space grows just a bit more consolidated. “1.2 billion people around the world use Messenger to connect with the people and businesses the...
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Talks For Acquisition Of Snapdeal By Flipkart Hits Roadblock
31Jul By AdityaNo Comments
News

Talks For Acquisition Of Snapdeal By Flipkart Hits Roadblock

Talks for the proposed acquisition of the beleaguered Snapdeal by larger rival Flipkart seem to have broken down after almost six months of negotiations, with the fate of the deal likely to be decided by the end of the day, according to company sources. (more…)
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Flipkart Set To Takeover Snapdeal For $900-$950 Mn : Sources
26Jul By RishabhNo Comments
News

Flipkart Set To Takeover Snapdeal For $900-$950 Mn : Sources

The Board of Snapdeal has accepted the Flipkart's revised takeover offer of about $950 millions last week, two sources who remain anonymous told. Shareholders of Snapdeal will now have to approve the deal, the sources told Reuters, declining to be named as the discussions are not public.   ALSO READ: Snapdeal Divided Between Infibeam Buyout And Bigger Rival Flipkart   Snapdeal and Flipkart have not made an official statement yet. So the confirmation stays pending. Bengaluru-headquartered Flipkart had revised its initial offer for Snapdeal to up to $950 million, Reuters reported last week.   ALSO READ: Flipkart-Snapdeal Deal: Negotiations On For Higher Offer  
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Axis Bank In The Race To Acquire Freecharge
8Jul By RishabhNo Comments
ACQUISITION

Axis Bank In The Race To Acquire Freecharge

Axis Bank, India’s third largest private sector lender has emerged as one of the key-runner in the race to acquire e-commerce marketplace Snapdeal owned Freecharge, a digital payments platform founded by Kunal Shah. This payments platform has been seeking a suitable buyer since long, even as its parent company negotiates the terms for its own sale. Axis Bank is currently conducting due diligence on FreeCharge. According to M&A experts, the deal may turn out to a be of USD 20-50 million to Snapdeal. FreeCharge was earlier acquired by Jasper in 2015 in a cash-and-stock deal estimated around USD 400-450 million in what was the largest acquisition of any Indian startup back then. Freecharge has been in continuous talks with many companies for the past one year, but nothing seem...
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Flipkart-Snapdeal Deal: Negotiations On For Higher Offer
6Jul By Press Trust of IndiaNo Comments
News

Flipkart-Snapdeal Deal: Negotiations On For Higher Offer

After Snapdeal board reportedly rejected Flipkart's USD 850 million takeover offer, the two parties are now holding parleys over the USD 150-200 million valuation gap. According to sources privy to the development, Flipkart had initially offered USD 1 billion for the deal but post the due diligence, it made an offer for USD 800-850 million. The offer was rejected by Snapdeal board as it felt the amount undervalues the company as the due diligence report is clean, one of the sources said. "However, the deal isnt off and negotiations will continue. The differences over Snapdeals valuation could delay the process," they added. Emails sent to Snapdeal, SoftBank and Flipkart did not elicit response. SoftBank, Snapdeals largest investor, has been proactively mediating the sale for...
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Snapdeal Board Rejects Flipkart’s $850 Million Offer
4Jul By AdityaNo Comments
News

Snapdeal Board Rejects Flipkart’s $850 Million Offer

Snapdeal board is believed to have rejected a takeover offer of USD 800-850 million (around Rs 5,500 crore) from larger e-commerce rival Flipkart. According to sources privy to the development, Flipkart has completed the due diligence process and has made an offer of USD 800-850 million to buy Snapdeal. However, the offer was rejected by the Snapdeal board which felt the amount undervalues the company as the due diligence report is clean. "The first offer has been rejected but talks are still on. It is an ongoing discussion," said one of the sources. When contacted, Snapdeal, SoftBank and Flipkart declined to comment. SoftBank, the Snapdeals largest investor, has been proactively mediating the sale for the past few months. The board also has representation from Snapdeal founder...
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BookMyShow Acquired Restaurant-Discovery Platform Burrp
4Jul By RishabhNo Comments
ACQUISITION

BookMyShow Acquired Restaurant-Discovery Platform Burrp

Online ticketing platform BookMyShow, in which Reliance Industries-controlled Network18 holds a sizeable stake, has recently acquired restaurant-discovery platform Burrp, another Network18-owned firm. Burrp would continue to run as a separate entity said Bigtree Entertainment Pvt. Ltd, which runs BookMyShow. The Network18 divestment was made to Foodfesta Wellcare Pvt. Ltd, the BigTree subsidiary that owns and operates BookMyShow, a press statement said. The companies did not reveal the value of the all-cash deal, but a report in The Economic Times called it a “slump sale” and pegged it at a meagre Rs 6.7 lakh. Mansi Vora, head of mergers and acquisitions at BookMyShow, said, “Movie going in India is a social activity and food is an integral part of it. This is where Burrp fits in...
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