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China’s Ctrip.com Acquires Online Travel Company Skyscanner in $1.74 billion Deal

24Nov By reutersNo Comments

ACQUISITION

China’s Ctrip.com Acquires Online Travel Company Skyscanner in $1.74 billion Deal

Ctrip.com International Ltd , China's biggest online travel company, said on Wednesday it agreed to buy travel search website Skyscanner Holdings Ltd in a deal valuing the Scotland-based company at about 1.4 billion pounds (USD 1.74 billion). Ctrip's shares were up 9.2 percent at USD 44.75 in extended trading. Skyscanner, a result of CEO and co-founder Gareth Williams' frustration with finding cheap flights, enables users to compare prices from different travel sites when searching for flights, hotels, and rental cars. The website currently serves 60 million monthly active users and is available in over 30 languages. Skyscanner was reported to be exploring a sale or an initial public offering. The company was valued at USD 1.6 billion in a funding round in January, when it raised ...

Facebook Acquired Social Media Content Tracker CrowdTangle

13Nov By NitishNo Comments

ACQUISITION

Facebook Acquired Social Media Content Tracker CrowdTangle

Facebook on Friday announced it has bought startup CrowdTangle, which specializes in tracking hot content on social networks for media agencies and others. "Publishers around the world turn to CrowdTangle to surface stories that matter, measure their social performance and identify influencers," a Facebook spokesperson said in an email statement to AFP. "We are excited to work with content tracking team to deliver these, and more insights to more publishers." CrowdTangle confirmed the acquisition in a message at its website, but neither company disclosed financial terms of the deal. In its press release the company said that its technology helps identify stories picking up traction and influential sources as well as their performance on social networks. The startup claimed that...

Paytm Acquired Delhi Based O2O Startup Shopsity

12Nov By PriyankaNo Comments

ACQUISITION

Paytm Acquired Delhi Based O2O Startup Shopsity

India's largest mobile payments and commerce platform Paytm has acquired a Delhi-based startup Shopsity, a O2O solutions to small retail stores. Earlier This move is in line with Paytm’s vision to create strong seller-focused services for its offline merchants. Shopsity is focused on small unorganized retailers, providing them with tools to attract and retain customers. Co-founders Danish Ahmed and Gaurav Arya have joined Paytm’s management and are actively working to strengthen seller services for the 800,000 strong offline sellers on the Paytm ecosystem. ”Shopsity has done a great job at providing innovative solutions to small offline retailers. By integrating their technology with our advanced seller services, we will be able to offer additional solutions to our fast-growing famil...

Tesla Buys German Automation Firm Grohmann to Drive Up Production

8Nov By PriyankaNo Comments

ACQUISITION

Tesla Buys German Automation Firm Grohmann to Drive Up Production

US electric car maker Tesla today said it would buy German engineering firm Grohmann to help ramp up production at its heavily-automated factories. "Several critical elements of Tesla's automated manufacturing systems will be designed and produced" in Pruem in western Germany, the California-based firm said in a statement. Tesla, founded by tech billionaire Elon Musk, aims to produce 500,000 cars per year by 2018 after taking some 370,000 pre-orders for its mass-market Model 3, which will sell for around USD 35,000 (just under 32,000 euros). This year, the firm hopes to build between 80,000 and 90,000 units of its luxury Model S and Model X vehicles, 50,000 of them in the second half. "The key to making electric cars affordable are economies of scale and automation in order to h...

4Nov By NitishNo Comments

ACQUISITION

NTT DATA Closes Acquisition of Dell Services

NTT DATA, Inc. today announced its acquisition of Dell Services has closed, expanding the company’s brand and IT services leadership globally. The newly acquired business, which on an interim basis will be called NTT DATA Services, expands NTT DATA’s ability to deliver insights, solutions and outcomes that lead to tangible business results for clients. “Welcoming Dell Services into NTT DATA is a milestone acquisition in our effort to partner with clients as they navigate the digital disruptions in today’s markets,” said Toshio Iwamoto, president and CEO of NTT DATA Corporation. “As a top 10 global business and technology services provider, we have been aggressively expanding our international business, boldly pursuing growth as a ‘Global IT Innovator.’ The acquisition of Dell Service...

Zensar Technologies Acquires Design Agency Foolproof Ltd

3Nov By PriyankaNo Comments

ACQUISITION

Zensar Technologies Acquires Design Agency Foolproof Ltd

Zensar Technologies, a wholly owned subsidiary Company of Zensar Technologies Limited and the shareholders of Foolproof Ltd. today announced that they have entered into a definitive agreement for Zensar to acquire Foolproof Limited along with its two wholly owned subsidiary companies in UK and one wholly owned subsidiary Company in Singapore for an undisclosed sum. Under the terms of the agreement, Foolproof will now be a wholly-owned subsidiary of Zensar Technologies (UK) Ltd. The deal will be financed by internal accruals, and will be EPS positive for the company. Foolproof is one of Europe’s leading experience design agencies, headquartered in London with other offices in Norwich and Singapore. The company helps global brands design better, and more relevant, digital products and ...

Makemytrip And Ibibo Group Announced Merger

18Oct By NitishNo Comments

ACQUISITION

Makemytrip And Ibibo Group Announced Merger

MakeMyTrip Limited and ibibo Group (owned by global technology group Naspers Limited, have agreed to pursue a transaction that will combine the two businesses under MMYT, creating one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers. The combination will bring together a bouquet of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY2016. The transaction is expected to unlock value for customers, supply partners and shareholders, by combining the complementary strengths of each business. MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages busines...

Indian Startup Binge Got Acquired by California-based vMobo For $3.5 Million

18Oct By NitishNo Comments

ACQUISITION

Indian Startup Binge Got Acquired by California-based vMobo For $3.5 Million

Bengaluru Based Binge, an Indian fintech app which aggregates mobile wallets for restaurant bill payments, has been acquired by California-based direct marketing company vMobo. The amount of the acquisition was for $3.5 million. Binge's technology was integrated with the larger entity in June, while the legalities of the merger were completed this month. The acquisition, which also includes a merger with Mumbai-based styling startup Dapper Don, has resulted in the launch of a network marketplace of about 120 brands, called VClusive, which was launched over the weekend. The brands range across lifestyle and fashion products as well as luxury experiences in beauty and wellness, and food and beverages sectors. vMobo's main product Vcloud - a cloud network for multi brand rewards ...

Mahindra’s BabyOye Acquired by FirstCry For Rs 362 Crore

17Oct By NitishNo Comments

ACQUISITION

Mahindra’s BabyOye Acquired by FirstCry For Rs 362 Crore

Online babycare store FirstCry (BrainBees Solutions Pvt. Ltd) has acquired the franchise division of Mahindra Retail Pvt. Ltd, a subsidiary of Mahindra and Mahindra Ltd, which owns online babycare business BabyOye for Rs 362.1 crore in a cash and stock deal. “A business transfer agreement has been executed by and between Mahindra Retail Pvt Ltd (MRPL), a subsidiary of the company, Brainbees Solutions (FirstCry) and founder of the company to transfer the franchise division of MRPL (BabyOye) as a going concern on a slump sale basis to FirstCry,” The Company said: “In terms of the structure of the transaction, Mahindra Retail and FirstCry have consolidated their operations, with Mahindra Retail selling its franchise business to FirstCry, and operating all company stores under a firstcry...

Dealberg.com Asia’s First, Invite-only B2B Ecommerce Acquires a Year-old Startup WeAreGadgets

14Oct By PriyankaNo Comments

ACQUISITION

Dealberg.com Asia’s First, Invite-only B2B Ecommerce Acquires a Year-old Startup WeAreGadgets

In a rare feat, Dealberg, a pre-launch startup has acquired an established $2-million company WeAreGadgets in the first week of this month. WeAreGadgets was founded by Sree Krishna Seelam, a serial entrepreneur and an MLA contestant of the Aam Aadmi Party. Before WeAreGadgets, Sree founded an NGO called Country Flavours, a manufacturing unit for processed foods and instant mixes. Sree will now play the role of the Chief Operating Officer at Dealberg and leads the partnerships and business development functions. "We want to help SMEs reduce their calls to the vendors but still avail best products at affordable prices, directly from the brands. With the help of Dealberg, SMEs from tier I, II and III cities can buy authorized and genuine products from brands with no geographical barr...

Sairee Chahal Led SHEROES Acquires Gharkamai.com

8Oct By NitishNo Comments

ACQUISITION

Sairee Chahal Led SHEROES Acquires Gharkamai.com

World's largest career platform for women SHEROES has announced acquiring Gharkamai.com - an online platform which helps professional home-based women find work. With the labor force participation of women in India witnessing a dip and over 300 million women eager to connect or reconnect to opportunities and achieve financial independence, this acquisition aids such women to find work on their own terms. "SHEROES helps women to take control of their careers, whether it is home based, part-time, or full time. It also allows companies, the access to this diverse and high quality talent pool. We are very excited and welcome the users of Gharkamai to Sheroes and assure to help them find career success on their own terms," said Founder and CEO of SHEROES, Sairee Chahal. The pla...

Indonesia Based GO-JEK Acquires Bangalore Based Startup Pianta

27Sep By AnkitaNo Comments

ACQUISITION

Indonesia Based GO-JEK Acquires Bangalore Based Startup Pianta

Indonesia's based food and grocery delivery startup GO-JEK has acquired Bangalore based Pianta, a marketplace for home healthcare services, for an undisclosed sum. Post the acquisition, Pianta's eight member team will merge with GO-JEK's engineering centre in Bangalore. Founded in 2010, GO-JEK has over two lakh motorbike taxis, known as "ojeks" in its fleet. Since then, the company has diversified into food, grocery and even courier delivery services. GO-JEK raised $550 million in 2016 from the likes of KKR, Warburg Pincus, Farallon Capital and Capital Group Private Markets. In India, GO-JEK doesn't have any services but has an engineering centre in Bangalore where it employs 60 people."Pianta's core team comes from Ola and Flipkart and their expertise in the logistics and payments s...