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Coaching Institute Aakash acquires Applect Learning for $14.5 Million

7Jan By PriyankaNo Comments

ACQUISITION

Coaching Institute Aakash acquires Applect Learning for $14.5 Million

Entrance test preparation services provider Aakash Educational Services Ltd has acquired ed-tech company Applect Learning Systems for around $14.5 million (Rs 100 crore). The company has entered into a definitive agreement with Info Edge (India) Ltd and other selling shareholders to acquire ALSPL, which offers learning programmes under the brand name 'Meritnation' catering to students of class I to XII, AESL said in a statement. When asked about the value of the deal, a company official said, 'it is around $14.5 million (Rs 100 crore) for the entire stake.' In October last year, Blackstone had picked up a 37.5 percent stake in Aakash Educational Services for Rs 1,350 crore and announced the intention to create a digitally enabled, omnichannel test preparation company. 'As part of ...

27Dec By AnkitaNo Comments

ACQUISITION

Sachin Bansal’s Navi Acquires MavenHive

Navi, which has been co-founded by Flipkart co-founder Sachin Bansal has acquired Bengaluru-based Mavenhive. MavenHive, a technology consulting firm, will help Navi leapfrog their product development initiatives, a statement said. The Mavenhive team along with its founders have joined Navi, it added. No financial details were disclosed. Founded by Bhavin Javia and Anandha Krishnan, MavenHive has helped tech companies like Flipkart, Gojek, Grasshopper, Scripbox and others in their product journeys, the statement said. "We are very excited about this acquisition which will add great capability to our ambitions to build cutting edge technology platforms that can take applications to scale. This acquisition will add to Navi's technology capabilities," Navi CEO Sachin Bansal said...

F5 Networks to Acquire Shape Security for $1B

23Dec By PriyankaNo Comments

ACQUISITION

F5 Networks to Acquire Shape Security for $1B

SEATTLE & SANTA CLARA, Calif., 23 Dec 2019– F5 Networks and Shape Security announced a definitive agreement under which F5 will acquire all issued and outstanding shares of the privately held Shape for a total enterprise value of approximately $1 billion in cash, subject to certain adjustments. “Beyond opening a fast-growing $4 billion adjacent market, Shape’s machine learning and AI-powered capabilities will scale and extend F5’s broad portfolio of application services and expand our ability to optimize and protect customers’ applications in an increasingly complex multi-cloud world.” Shape protects the largest banks, airlines, retailers, and government agencies with sophisticated bot, fraud, and abuse defense. In particular, Shape defends against credential stuffing attacks...

Facebook Acquires Video Gaming Company PlayGiga

19Dec By PriyankaNo Comments

ACQUISITION

Facebook Acquires Video Gaming Company PlayGiga

Social media giant Facebook has acquired cloud based video gaming firm PlayGiga. The deal value has not been disclosed but according to Spain, local business newspaper Facebook acquired PlayGiga for about $78 million. “We’re thrilled to welcome PlayGiga to the Facebook Gaming team. We are continuing our work in cloud gaming, now with a new mission. We want to thank all of our partners and customers for their support over the years ” a Facebook spokesperson said in a press note on its website. Founded in 2013, PlayGiga enables users to play premium videogames on PC / Mac or TV through an affordable monthly subscription. The social networking giant has also launched Facebook Gaming -- a live-stream service that allows users to share their gameplay. The arrival of Cloud-based...

Amazon Facing Heat in UK Over Acquisition of Deliveroo

13Dec By PriyankaNo Comments

News

Amazon Facing Heat in UK Over Acquisition of Deliveroo

British authorities are asking Amazon to address concerns that its plan to buy a stake in food delivery platform Deliveroo could damage competition between businesses that do takeaways and those that deliver groceries. The Competition and Markets Authority gave the online shopping shopping behemoth five days to come up with legally binding proposals to address the competition concerns identified Wednesday. Amazon is interested in investing in Deliveroo to give it a larger stake in the fast-growing restaurant delivery business. If the deal were to proceed in its current form, there's a real risk that it could leave customers, restaurants and grocers facing higher prices and lower quality services as these markets develop," said Andrea Gomes da Silva, the authority's executive director...

28Nov By AdityaNo Comments

ACQUISITION

Tech Mahindra Acquire Digital Agency BORN Group

NEWYORK-- BORN Group, a leading digital transformation agency with a focus on customer experience and enterprise commerce solutions, has been acquired by global technology and services firm Tech Mahindra Ltd. Founded in 2011, Born set forth to create a new-age marketing agency that helped brands adapt to the digital economy. Their vehicle, BORN, grew out of a combination of two acquired firms, Group FMG, a content production house and a NY-based marketing boutique specialized in creative design, Pod1. Since then, BORN has experienced exceptional growth with operations in 8 countries serving over 40 end markets working with a range of enterprise clients. The company is widely recognized and award winning and serves a roster of clients who seek enterprise commerce and experience...

27Nov By AdityaNo Comments

ACQUISITION

Facebook Acquire VR Studio ‘Beat Games’

Facebook-owned Oculus is buying the studio behind hit virtual reality game "Beat Saber" as it looks to expand VR technology to wider audiences. Oculus, which makes Rift and Quest VR headgear, did not disclose financial terms of the deal to acquire Prague-based Beat Games. "Beat Games is joining us in our quest to bring VR to more people around the world," Oculus director of augmented and virtual reality content Mike Verdu said in a blog post. "Beat Games' accomplishments are already impressive, but Facebook and the Beat Games team know that there is so much more that can be done across VR, games, and music." Verdu assured players that the studio would continue to ship content and updates for "Beat Saber" on platforms where it is already available. In the virtual game, player...

Viagogo Acquires StubHub from eBay for $4.05 Billion

27Nov By AdityaNo Comments

ACQUISITION

Viagogo Acquires StubHub from eBay for $4.05 Billion

SAN JOSE, California-- eBay and Viagogo have entered into a definitive agreement for eBay to sell StubHub to Viagogo for a purchase price of $4.05 billion in cash. "We believe this transaction is a great outcome and maximizes long-term value for eBay shareholders," said Scott Schenkel, interim chief executive officer of eBay Inc. "Over the past several months, eBay's leadership team and Board of Directors have been engaged in a thorough review of our current strategies and portfolio, and we concluded that this was the best path forward for both eBay and StubHub. We firmly believe in the StubHub business and we are excited about its future growth potential with viagogo as its owner." viagogo is a leading worldwide ticket marketplace for live sport, music and entertainment events, and ...

22Nov By AdityaNo Comments

ACQUISITION

Paypal Acquire Honey For $4 Billion

SAN JOSE, Calif., Nov. 22, 2019-- Online Payment Transfer platform PayPal has agreed to acquire Honey Science Corporation, a shopping and rewards platform for approximately $4 billion. Honey Science Corporation is an L.A. based tech company building tools to help people save time and money when shopping online. Honey, in combination with PayPal's two-sided network, will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. Founded in 2012, Honey approximately have 17 million monthly active users and helped millions of people find more than $1 billion in savings in the past year. Honey currently works across approximately 30,000 online retailers ranging from fashion and technology, to travel and pizza deliv...

Xerox considers $27 billion Takeover offer of HP

7Nov By reutersNo Comments

ACQUISITION

Xerox considers $27 billion Takeover offer of HP

Printer maker Xerox Holdings Corp has made a roughly $27 billion cash-and-stock offer for personal computer maker HP Inc, a company more than three times its size. HP confirmed the bid, but declined to disclose the offer price. The companies have explored a combination from time to time, and HP will consider Xerox’s latest proposal “with an eye towards what is in the best interest of all our shareholders,” HP said in a statement. Five days ago Enrique Lores, former president of HP’s imaging and printing business, officially took over as its chief executive. Xerox’s stock has rallied under CEO John Visentin, who took over last year and resolved a long-running dispute with joint venture partner Fujifilm Holdings Corp. Xerox said it would sell its 25% stake in the joint venture f...

5Nov By NitishNo Comments

ACQUISITION

Automation Anywhere acquihire Cathyos Labs

The SoftBank-backed robotic process automation (RPA) player, Automation Anywhere acquihire of product engineering start-up Cathyos Labs to support the company's expansion and product innovation. Cathyos Labs specialises in product development, automation, RPA and predictive analytics, Automation Anywhere said in a statement. Through the acqui-hire, Automation Anywhere will strengthen its engineering team to increase product development, support and delivery for customers in India and across the region, it said. Cathyos Labs is the first talent led acquisition by Automation Anywhere.Cathyos Labs engineers, including the co-founders, will join Automation Anywhere's product engineering team to provide development support for the web-based RPA platform, Enterprise A2019, it was stated...

Airtel acquires Stakes in Vahan, Launched Startup Accelerator Program

25Oct By AdityaNo Comments

ACQUISITION

Airtel acquires Stakes in Vahan, Launched Startup Accelerator Program

Bharti Airtel has acquired stake in Bengaluru-based AI startup Vahan and also launched its first startup accelerator. Airtel's Startup Accelerator will enable early startups get access to Airtel's online and offline distribution network, deep market understanding and ecosystem of global strategic partners. Airtel developed in-house capabilities around machine learning and artificial intelligence which could be leveraged to aid the growth of startups. Airtel also announced the induction of Bengaluru-based tech startup Vahan into its Startup Accelerator Program. "Airtel will acquire a stake in Vahan and partner with them in building significant scale to achieve their vision of enabling jobs for the next billion internet users," the statement added. Founded in 2016, and backed...