Thursday, April 25

Tag: Acquisition

Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition
22Jul By NitishNo Comments
ACQUISITION

Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition

As per the filing report,  Jewellery-to-eyewear lifestyle company Titan Company Ltd also an entity of Tata's Group would pay Rs 357.34 crore to acquire a 62 percent stake in Chennai-based Carat Lane Trading Private Limited, the parent entity of the jewellery etailer CaratLane.com. In May, Titan Company acquired a majority stake in CaratLane.com. The Company is acquiring 19,142,545 shares in the parent entity. Caratlane raised over $50 million in funding from Tiger Global Management. Carat Lane Trading Private Limited, which is involved in designing, manufacturing, trading and retailing of gems and jewellery, clocked revenues of Rs 141 crore for the financial year 2015-16. Its revenues in the preceding two consecutive fiscals were Rs 127 crore and Rs 101 crore, respectively. Titan ...
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SoftBank to Buy UK Chip Designer ARM in $32 Billion Cash Deal
18Jul By reutersNo Comments
ACQUISITION

SoftBank to Buy UK Chip Designer ARM in $32 Billion Cash Deal

SoftBank Group Corp has agreed to buy UK chip designer ARM Holdings PLC in a 24.3 billion pound ($32.2 billion) deal, the two companies said on Monday, in an ambitious bet on mobile internet that will transform the Japanese tech group. ARM, the most valuable tech company listed in London by market value, is a major presence in mobile processing, with its processor and graphics technology used by Samsung, Huawei and Apple in their in-house designed microchips. The Cambridge-based group also stands to be central to the tech industry's shift to the 'internet of things' - a network of devices, vehicles and building sensors that collect and exchange data - a focus for SoftBank founder Masayoshi Son. Monday's deal, Softbank's largest to date, marks a departure for the Japanese group, wh...
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Myntra Acquired Cubeit For An Undisclosed Amount
11Jul By RishabhNo Comments
ACQUISITION

Myntra Acquired Cubeit For An Undisclosed Amount

Online fashion retailer Myntra has recently acquired Bengaluru-based Cubeit for an undisclosed amount. Cubeit focuses on building mobile applications that allows users to aggregate content from any given location. "As part of the acquisition, the team at Cubeit has been inducted into Myntra, making it an Acqui-Hire that will further strengthen and expand Myntra's technology team," said the company in a press statement. Cubeit is Myntra's third technology led acquisition. Myntra had earlier acquired Native5, a Bengaluru-based mobile app development platform company in May, 2015 and Fitiquette, a San Francisco-based technology solution in April, 2013. Cubeit was co-founded by Sarthak Jain, Nithin Kumar Gadiparthi & Prathamesh Juvatkar in 2014. Myntra, which is aggressively trying...
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1mg Acquired Medd For An Undisclosed Amount!
5Jul By RishabhNo Comments
ACQUISITION

1mg Acquired Medd For An Undisclosed Amount!

Sequoia Capital backed 1mg, an online pharmacy with a wide range of prescription and OTC medicines announced on Monday that it has acquired Medd, which is a marketplace for booking diagnostic and imaging tests. The inside details about the detail are yet undisclosed! (more…)
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LinkedIn Buy Biggest Acquisition Since I Became CEO: Satya Nadella
13Jun By Press Trust of IndiaNo Comments
Entrepreneurs Talk

LinkedIn Buy Biggest Acquisition Since I Became CEO: Satya Nadella

Microsoft chief Satya Nadella today said new opportunities for monetisation will be created once integration with LinkedIn, its largest acquisition till date, is completed. The USD 26.2-billion deal, which is the largest in the history of the Redmond-based firm, will help "reinvent productivity and business processes", Satya Nadella said in an e-mail to employees. According to a presentation, the total addressable market size for Microsoft has grown to USD 315 billion, from USD 200 billion earlier. Given this is the biggest acquisition for Microsoft since I became CEO, I wanted to share with you how I think about acquisitions overall. To start, I consider if an asset will expand our opportunity ? specifically, does it expand our total addressable market?" he wrote in the e-mail to emplo...
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Microsoft Acquired LinkedIn in $26 Billion Cash Deal
13Jun By NitishNo Comments
ACQUISITION

Microsoft Acquired LinkedIn in $26 Billion Cash Deal

On Monday, Microsoft Corp acquired LinkedIn Corporation for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash deal. LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year. “Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said. “For the last 13 years, we’ve been uniquely po...
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Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups
6Jun By AnkitaNo Comments
ACQUISITION

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

Voonik, a Sequoia Capital-backed fashion marketplace startup which is focused on curated fashion has acquired three startups to build its premium fashion product Vilara. Voonik is attempting to strengthen its leadership in the unbranded fashion segment largely via acqui-hires or team acquisitions of startups in niche fashion offerings. Bengaluru based Voonik has now acquired five startups in the past six months. It raised $5 million funding from Sequoia Capital and SeedFund last year. It has claimed $100-million run rate and is aiming to grow four-fold in GMV by the end of this fiscal. The three companies are online marketplace for designers and boutiques Zohraa, which has a 12-person team, the eight-person team at online silk store Picksilk.com and the nine person team at Styl, whic...
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Salesforce Acquires Demandware About $2.8 billion To Enter in E-Commerce Services
3Jun By reutersNo Comments
ACQUISITION

Salesforce Acquires Demandware About $2.8 billion To Enter in E-Commerce Services

Cloud-based software maker Salesforce.com Inc said it would buy Demandware Inc, whose software is used by businesses to run e-commerce websites, for about $2.8 billion. The deal will help Salesforce open a new front as it looks to take away more market share from traditional software providers such as Oracle Corp and SAP AG, both of which already offer cloud-based e-commerce services. The e-commerce market has been growing at a blistering pace as retailers expand their online presence, boosting demand for software that helps manage functions such as payment processing and inventory management. The lofty premium indicates that there were most likely multiple bidders at the table for Demandware, Stifel Nicolaus & Co analyst Thomas Roderick said, naming Adobe Systems Inc and Orac...
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Jugnoo Acquires SubKuchFresh to Enhance its Grocery Delivery Services
2Jun By NitishNo Comments
ACQUISITION

Jugnoo Acquires SubKuchFresh to Enhance its Grocery Delivery Services

The leading on-demand auto-rickshaw aggregator Jugnoo acquires SubKuchFresh in a bid to enhance its recently launched grocery delivery service 'Fatafat'. This acquisition enables Jugnoo to offer a more comprehensive grocery delivery service with improved procedures of procurement, sorting, packaging and quality check of products. Furthermore, the move is corresponding to Jugnoo's vision of making optimum utilization of resources with auto-rickshaws as its logistic partners, allowing them to make extra bucks when not transporting passengers. The delivery services are currently available for customers in Mohali and Panchkula apart from Chandigarh. "This is a step towards helping the auto drivers to supplement their livelihood through extra earnings. Jugnoo also intends to create...
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Tech Mahindra to Acquire Target Group
28May By AnkitaNo Comments
ACQUISITION

Tech Mahindra to Acquire Target Group

Tech Mahindra Ltd., a specialist in digital transformation, consulting and business re-engineering, has agreed to enter into an agreement to acquire Target Group, one of the leading processing platform companies in the UK. The transaction is expected to close in Q2 FY17, subject to the receipt of regulatory approvals. The acquisition strengthens Tech Mahindra's BFSI practice by access to IP and a platform which helps automate end-to-end processes in the lending, investments and insurance market. The acquisition will enhance Tech Mahindra's capabilities and allow Tech Mahindra to capture a larger share of the GBP 45-60 billion annual spend by UK BFSI companies on software and services. Tech Mahindra intends to leverage its global footprint and enhance the platform to service other market...
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Online Learning Startup EdCast Acquired Online Sales Training Company Sales University
26May By PriyankaNo Comments
ACQUISITION

Online Learning Startup EdCast Acquired Online Sales Training Company Sales University

Online learning startup EdCast acquired online sales training company Sales University, previously known as WAGmob, for an undisclosed amount. This is the first acquisition the education platform has made after closing a $16 million Series-B round led by GE Asset Management in April. Sales University, founded by former Microsoft engineering executives, is headquartered in Seattle, US and Indore in India. "Besides innovative features like video role play and product training, Sales University provide access to some marquee influencers like Tom Hopkins and Ken Thoreson. Most importantly, they have the best mobile-first sales training app that we could find," said Karl Mehta, founder of EdCast. However, Mehta refused to disclose the terms of the deal. Sales University claims ...
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