Acquisition | Pixr8 News

13Aug By AdityaNo Comments

ACQUISITION

Tumblr Got Acquired by WordPress Owner

Blogging website Tumblr is going to acquire by Automattic Inc., the owner of popular online-publishing tool WordPress.com. Currently, Tumblr is owned by Verizon Communications Inc. the parent company of Yahoo. Verizon acquired Tumblr in 2013 for $1 billion. As per the sources, the current acquisition price is just a $20 million, a big loss for Verizon. Tumble was popular as a porn blog app between users. Once the hottest game in town now in the dust because a recent decision to ban porn from the platform has had a marked negative impact on Tumblr's traffic. According to the data, first-time users for Tumblr’s mobile app declined 33% year-over-year last quarter. “Today’s announcement is the culmination of a thoughtful, thorough and strategic process,” said Verizon Media CE...

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

13Aug By Ankita SinghNo Comments

ACQUISITION

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

Indian IT company Tech Mahindra will pay USD 70 million (about Rs 490 crore) to acquire 65 percent stake in US-based strategic design consultancy firm Mad*Pow. "We are buying 65 percent upfront and for that 65 percent we are paying about USD 70 million and the balance 35 percent will be acquired subsequently from the management team and the founders...," Vivek Agarwal, head for corporate development & BFSI at Tech Mahindra Limited, said in a call with analysts. The company announced plans to acquire Mad*Pow on July 30. Tech Mahindra MD and CEO CP Gurnani said Mad*Pow is a 70-people strong organisation with capability in customer experience, human center design and understanding of behavioral science which will give Tech Mahindra a significant edge in digital transformation pro...

Dineout Acquires Food Tech Platform Binge Digital

10Aug By AdityaNo Comments

ACQUISITION

Dineout Acquires Food Tech Platform Binge Digital

Restaurant technology solutions firm Dineout has acquired Delhi-based food tech platform Binge Digital. The acquisition is in line with Dineout's latest product announcement Dine-In, the company said in a statement. The financial details of the deal were not disclosed. The founding members of Binge Digital Naman Jain, Prakhar Agarwal, and Preksha Singla have joined the Dineout team, it added. "We are happy and excited to announce the acquisition of Binge Digital which through its cutting edge technology will enable us to bolster our product portfolio, especially the newly launched digital menu product Dine-In," said Dineout Chief Executive Officer and co-founder Ankit Mehrotra. This is Dineout's fourth acquisition after in Resto, Gourmet Passport and Torqus to further accelerat...

8Aug By PriyankaNo Comments

ACQUISITION

NIKE acquires AI driven Startup Celect

BEAVERTON, Ore.-- NIKE, has acquired Celect, a leading retail predictive analytics and demand sensing firm based in Boston. Celect is Nike’s latest acquisition fueling its Consumer Direct Offense strategy, serving consumers personally at a global scale. “With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.” said Eric Sprunk, NIKE, Inc. Chief Operating Officer. “As demand for our product grows, we must be insight-driven, data optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.” Celect, founded in 2013, holds a cutting-edge intellectual property portfolio across data science and software engineering. Celect’s cloud-based analytics platform...

Mitsubishi UFJ Financial acquires stakes in Dr Reddy, Tata Global Beverages & Others

7Aug By NitishNo Comments

ACQUISITION

Mitsubishi UFJ Financial acquires stakes in Dr Reddy, Tata Global Beverages & Others

Japanese Financial group Mitsubishi UFJ (MUFG) has acquired significant stakes in several Indian firms, including Dr Reddy's, Tata Global Beverages, Godrej Consumer and Marico through the acquisition of entities that hold shares of the companies. The acquisitions of indirect stakes in different companies follow MUFG's acquisition of First State Investments (UK), First State Investments (Singapore) Colonial First State Asset Management (Australia), First State Investments Ltd, Mitsubishi UFJ Trust and Banking Corporation and Mitsubishi UFJ Kokusai Asset Management on August 2. These entities held stakes in the said companies, according to separate regulatory filings. Godrej Consumer Products Ltd (GCPL) said following the transaction, MUFG has an aggregated interest of 5.47 percent....

Automation Anywhere acquires Paris based Klevops

2Aug By PriyankaNo Comments

ACQUISITION

Automation Anywhere acquires Paris based Klevops

Automation Anywhere, a provider of robotic process automation (RPA), has acquired Paris-based Klevops. However, Automation Anywhere didn't disclose the deal amount. RPA technology refers to the use of software robots (bots) to automate business processes that are currently managed manually by human workers. "With the acquisition, Automation Anywhere fast forwards the RPA category to Attended Automation 2.0, where managers can easily orchestrate workstreams across a team of employees and bots, driving a higher level of employee productivity and improved customer experience," a statement said. The acquired technology from Klevops will alter the dynamics between attended and unattended automation, making it a foundational solution for companies scaling their automation initiatives ac...

Media Platform Thomson Reuters Acquires HighQ

22Jul By PriyankaNo Comments

ACQUISITION

Media Platform Thomson Reuters Acquires HighQ

LONDON, July 22, 2019-- Thomson Reuters has acquired HighQ, a leading collaboration platform for the legal and regulatory market. After this acquisition, HighQ team will join Reuters office. The amount of the deal has not disclosed yet. Based in London with offices in the United States, Germany, the Netherlands, Australia and India, HighQ offers a secure cloud-based platform for business collaboration, workflow automation, and client engagement. HighQ currently serves more than 400 customers, including more than half of the Global 100 largest law firms. Thomson Reuters provides its customers with solutions that help them generate more efficiencies, lower costs, improve accuracy and reduce risk. This acquisition will expand on the company's strategic objective to provide more...

Ebix acquires Travel Website Yatra.com for $337.8 million

17Jul By PriyankaNo Comments

ACQUISITION

Ebix acquires Travel Website Yatra.com for $337.8 million

NEW YORK–July 17, 2019 –Ebix has acquired one of the leading Indian travel platform Yatra.com at an enterprise value of $337.8 million. Ebix is a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. Yatra Online is the parent company of Yatra Online Pvt. Ltd., India's leading Corporate Travel services provider and one of India's leading online travel companies. Following the completion of the transaction, Yatra will become part of Ebix’s EbixCash travel portfolio alongside Via and Mercury and will continue to serve customers under the Yatra brand. The transaction will create India’s largest and most profitable travel services company, and a leading online travel platform poised to capture...

Blackstone Acquire Leading Mobile Performance Marketing Platform Vungle

17Jul By AnkitaNo Comments

ACQUISITION

Blackstone Acquire Leading Mobile Performance Marketing Platform Vungle

NEW YORK, July 17, 2019-- Blackstone has agreed to acquire Vungle, a leading performance marketing platform for in-app video advertisements on mobile devices. Vungle is trusted by publishers of more than 60,000 mobile apps worldwide, including top brands such as Rovio, Zynga, Pandora, Microsoft, and Scopely, among others. The company serves more than 4 billion video views per month over a billion unique devices, and is consistently ranked #1 for cross-platform user retention by industry mobile performance indexes. Headquartered in San Francisco Vungle offices are in London, Berlin, Beijing, Tokyo, Singapore, and Seoul. Sachin Bavishi, Principal at Blackstone, said, "As a best-in-class performance marketing platform, Vungle represents a key growth engine for the mobile app e...

Larsen & Toubro Infotech acquires Bengaluru-based Lymbyc

17Jul By PriyankaNo Comments

ACQUISITION

Larsen & Toubro Infotech acquires Bengaluru-based Lymbyc

Larsen & Toubro Infotech (LTI) Wednesday said it will acquire Bengaluru-based advanced analytics company Lymbyc for an enterprise value of Rs 38 crore. The acquisition will bolster the advanced analytics, natural language processing and data visualisation capabilities of LTI, thereby enabling us to offer differentiated analytics solutions to clients, the company said in a regulatory filing said. "The enterprise value for 100 percent share capital of Lymbyc is Rs 380 million on a cash-free, debt-free basis, which will be paid as a combination of upfront and three-year earn-out payments," it said. It added that the consideration value is subject to working capital adjustments. The transaction is expected to be completed in four-six weeks. We believe self-service capabilities ...

OYO acquires Innov8 for $30 million to enter into co-working business

16Jul By PriyankaNo Comments

ACQUISITION

OYO acquires Innov8 for $30 million to enter into co-working business

Hospitality firm OYO announced entry into a new vertical, OYO Workspaces, targeting the co-working opportunity in India with an aim to have 50 centres across the country having a total seat count of around 35,000 by the end of 2019. It also formally announced the acquisition of co-working firm Innov8 during the year. Currently, Innov8 has 16 centres across the country with over 6,000 seats. According to the deal, Innov8 was acquired for around USD 30 million (about Rs 205 crore). The entire team of Innov8 joined OYO as part of the deal. "This alliance will work towards simplifying and strengthening the co-working experience for Indians while tapping the enormous opportunities this space offers," Innov8 founder Ritesh Malik said. The debut of OYO Workspaces follows a multi-bran...

PayU Acquires Majority Stake in Singapore-based Red Dot Payment

5Jul By NitishNo Comments

ACQUISITION

PayU Acquires Majority Stake in Singapore-based Red Dot Payment

Online payment firm PayU acquired a majority stake in Singapore based Red Dot Payment, a Southeast Asia focused online payment solutions provider. Under the terms of the agreement, PayU has acquired a majority stake in RDP in a transaction valuing the company at $65 million. With this transaction, PayU expands into the Southeast Asia region and brings the total amount deployed in fintech investments and M&A to north of $700 million over the last three years. The move demonstrates PayU's commitment to becoming the leading payments solution provider in high-growth markets and one of the largest fintech investors in the world. Formed in 2011 by a group of payment experts from various Fortune 500 companies in the industry, RDP has grown into Singapore's largest home-grown and t...