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Wipro Acquires Washington based Rational Interaction

21Feb By AdityaNo Comments

ACQUISITION

Wipro Acquires Washington based Rational Interaction

Wipro Digital, the digital business unit of IT major Wipro has acquired digital customer experience (CX) firm Rational Interaction. Wipro Digital didn't disclose the acquisition amount. Founded in 2009, Rational Interaction is headquartered in Washington and has over 300 employees. It has offices in Seattle, Bellevue, Dublin, and Sydney. "The acquisition will scale Wipro Digital's offering for Chief Marketing Officers (CMO), connecting Rational Interaction's ability to map and orchestrate the customer journey with Wipro Digital's ability to design and build experiences at global scale," a statement said. Together, the companies will provide bespoke and effective solutions for the marketing suite, it added. Rational Interaction helps brands create sustained CX program success...

Shriram Automall acquires Online Car Selling Portal

17Feb By AdityaNo Comments

ACQUISITION

Shriram Automall acquires Online Car Selling Portal

Pre-owned vehicle exchange platform Shriram Automall India Ltd (SAMIL) has acquired BlueJack, an online car selling portal. The company did not disclose the financial details of the deal. With this acquisition, Shriram Automall targets to transact yearly over 1.2 million vehicles worth more than Rs 30,000 crore. At present 70 lakh used cars are sold in India every year and the market is expected to be valued at Rs 50,000 crore in 2022, the company said in a statement. Commenting on the acquisition, Shriram Automall CEO Sameer Malhotra said, "Together, we believe we can offer the best auction experience for our Indian market with innovative technology."The deal will give over 10 million customers of SAMIL, on its physical and online bidding platforms, and its affiliates additional ...

14Feb By PriyankaNo Comments

BUSINESS

eBay Completes Sale of StubHub

SAN JOSE, Calif., Feb. 13, 2020-- eBay Inc, a global eCommerce platform that connects millions of buyers and sellers around the world has completed the sale of StubHub to viagogo for $4.05 billion in cash. "The completed sale of StubHub to viagogo is a great outcome both in terms of the $4.05 billion sale price and the potential StubHub has with its new owner," said Scott Schenkel, interim CEO of eBay Inc. "The StubHub transaction reinforces our commitment to creating shareholder value and is consistent with other steps we have taken such as margin improvement, share buybacks and issuing dividends. We are operating with discipline and focus, improving financial performance and delivering improved customer experiences. On behalf of the eBay team, we're excited to see how StubHub evolves...

12Feb By PriyankaNo Comments

ACQUISITION

GoDaddy Acquires Uniregistry and its Marketplace

SCOTTSDALE, Ariz., Feb. 11, 2020-- GoDaddy Inc is acquiring Uniregistry's leading domain registrar and marketplace businesses. Financial details of the transaction were not disclosed. The deal is expected to close sometime in Q2 2020. The Uniregistry domain registry is not part of the transaction. Uniregistry started in 2014 by catering to domain name investors with specialized tools to register, manage and sell domains. They later expanded its service to other audiences while still focusing on domain name investors. "Uniregistry is unique in that domain investors built it from the ground up so their products and services have always catered to the domain investor community," said GoDaddy Vice President Paul Nicks. "This acquisition reinforces GoDaddy's commitment to domain inves...

Facebook Acquire AI Location Accuracy Startup Scape Technologies

10Feb By AdityaNo Comments

ACQUISITION

Facebook Acquire AI Location Accuracy Startup Scape Technologies

Facebook has acquired computer vision start-up Scape Technologies. The deal for London-based Scape could be around $40M, according to the report, and it says filings indicate that Facebook has more than 75% of the company. They also indicate that VC representatives on Scape's board have been replaced by two Facebook execs. Scape allows developers to build apps that call for location accuracy better than that offered by GPS, using a "visual positioning service." While it focused initially on augmented reality, Scape is looking to enable any camera to understand its surroundings." "Rather than rely on 3D maps built and stored locally, Scape's visual engine builds and references 3D maps on the cloud, allowing devices to tap into a ‘shared understanding’ of an environment. The ...

Square Yards Acquires Rental & Property Management Firm Azuro

6Feb By AnkitaNo Comments

ACQUISITION

Square Yards Acquires Rental & Property Management Firm Azuro

Property brokerage firm Square Yards, which is backed by Anil Ambani-led Reliance Group, has acquired Mumbai-based rental platform Azuro as part of its expansion plan. Founded in 2016 by IIT Bombay alumni Altaf Ahmad, Sushant Kumar, Sudhanshu Mishra, Ayush Agrawal and Vishal Chauthmal, Azuro offers rental and property management solutions. It helps in finding a tenant, background checks, automated rent collection, property maintenance and tenant exits. The entire team of Azuro, including its co-founders, has joined Square Yards and will continue to operate under the larger umbrella with the same brand name. Square Yards founder and CEO Tanuj Shori said, "Square Yards is building an integrated intermediary ecosystem for the real estate industry and this requires the best of technol...

Cognizant acquires US based Code Zero Consulting

4Feb By AnkitaNo Comments

ACQUISITION

Cognizant acquires US based Code Zero Consulting

Cognizant has acquired US-based Code Zero Consulting for an undisclosed amount, a move that will help the IT major enhance its expertise in Salesforce platform advisory, implementation and managed services. The acquisition of Code Zero enriches our cloud offerings, brings deep domain expertise to our clients and further strengthens our strategic relationship with Salesforce.com, Brian Humphries, CEO of Cognizant, said. Founded in 2016, Atlanta-based Code Zero Consulting is a privately-held provider of consulting and implementation services for cloud-based configure-price-quote (CPQ) and billing solutions. "The acquisition further strengthens Cognizant's cloud solutions portfolio and Salesforce CPQ and billing capabilities," as per a company statement. Financial details of the t...

Platinum Equity Acquires Cision Ltd for $2.7 Billion

1Feb By AnkitaNo Comments

ACQUISITION

Platinum Equity Acquires Cision Ltd for $2.7 Billion

CHICAGO, Jan. 31, 2020 -- Cision Ltd., a leading global provider of software and services to public relations and marketing communications professionals acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.7 billion. "Cision is well established as the industry standard platform for communications professionals navigating an increasingly complex environment," said Platinum Equity Chairman and CEO Tom Gores. "This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources and M&A support to help the company maximize its potential." As of January 31, 2020, Cision is a privately held company. Cision shares ceased trading on the New York Stock...

Zomato acquires Uber Eats India Operation

21Jan By NitishNo Comments

ACQUISITION

Zomato acquires Uber Eats India Operation

Zomato has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 percent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. "India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato's ability to grow rapidly in a capital-efficient manner and we wish them continued success," Dara Khosrowshahi, CEO of Uber, said in the statement. In a regulatory filing to BSE, Info Edge (India) a shareholder in Zomato sai...

20Jan By NitishNo Comments

ACQUISITION

Apple acquires Xnor.ai for $200 million

Apple has acquired Seattle-based AI start-up Xnor.ai, which specializes in low-power, edge-based artificial intelligence tools for $200 million. However, the acquisition deal is yet to be confirmed by Apple but it said that, “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.” Xnor.ai has a software tool that uses artificial intelligence to recognize objects. This software is used directly from an iPhone rather than from the cloud. These image recognition tools can become standard features for future iPhones and webcams. This acquisition resembles Apple’s purchase of Seattle startup Turi in 2016. Turi's software helps large and small organizations make better sense of the data they collect. In 2014, Apple...

Mahindra Acquire Fifth Gear Ventures For $4.2 Million

18Jan By AdityaNo Comments

ACQUISITION

Mahindra Acquire Fifth Gear Ventures For $4.2 Million

Mahindra & Mahindra (M&M) subsidiary has inked a pact to acquire Fifth Gear Ventures Ltd, which operates an e-commerce market platform, for up to Rs 30.45 crore. Mahindra First Choice Wheels Ltd (MFCWL), a subsidiary of the company, has signed a share purchase agreement to acquire fully Fifth Gear Ventures Limited (FGVL), in one or more tranches, M&M said in a regulatory filing. Upon acquisition of the stake, FGVL would become a subsidiary of MFCWL, it added. The acquisition is to be completed by March 31st, 2020, the auto major said. "MFCWL is acquiring FGVL with the objective of expanding its presence in the digital automotive space and seamlessly integrating the online and offline user experience," M&M said. Incorporated in September 2015, FGVL is engaged ...

Former Flipkart Cofounder Sachin Bansal Acquire DHFL General Insurance

10Jan By NitishNo Comments

ACQUISITION

Former Flipkart Cofounder Sachin Bansal Acquire DHFL General Insurance

Sachin Bansal-led Navi Technologies will acquire DHFL General Insurance Ltd (DHFLGI) for 100 crores Indian rupees. DHFLGI, Wadhawan Global Capital Ltd and Navi Technologies had entered into a share purchase agreement dated January 2, 2020, for the transaction, according to a notice in a newspaper. "...the acquirer (Navi) proposes to acquire 19,00,50,000 equity shares representing 100 per cent of the paid-up equity share capital of the company (DHFLGI) from the seller by way of secondary transfer of shares," it added. The notice said DHFLGI has made an application to the Insurance Regulatory and Development Authority of India (IRDAI) seeking its approval for the proposed transaction. It added that the proposed transaction is scheduled to be consummated after the expiry of 15 da...