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Hitachi acquires GlobalLogic for $9.6 billion

2Apr By PriyankaNo Comments

ACQUISITION

Hitachi acquires GlobalLogic for $9.6 billion

TOKYO, March 04/02/2021— Japanese leading tech firm, Hitachi, Ltd. (TSE: 6501, “Hitachi”) acquire GlobalLogic, a leading U.S.-headquartered digital engineering services company for $9.6 billion. Through the acquisition, Hitachi expects the addition of GlobalLogic’s advanced digital engineering capabilities, and its solid client base including major technology companies, to strengthen the digital portfolio of “Lumada." Lumada is the name of Hitachi’s advanced digital solutions and services for turning data into insights that drive digital transformation of social infrastructure. The acquisition will accelerate the advanced digital transformation of social infrastructures such as rail, energy, and healthcare on a global scale. Headquartered in Silicon Valley, GlobalLogic is a l...

ServiceNow to Acquire AI based Element AI

30Nov By PriyankaNo Comments

ACQUISITION

ServiceNow to Acquire AI based Element AI

SANTA CLARA, Calif., 30th Nov 2020-- ServiceNow (NYSE: NOW) to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities and some of the world’s brightest AI minds. Element AI will significantly enhance ServiceNow’s commitment to build the world’s most intelligent workflow platform, enabling employees to work smarter and faster, streamline business decisions, and unlock new levels of productivity. Element AI has world-class scientists and practitioners who will bring expertise in applying modern AI to text and language, chat, images, search, question response, and summarization and will accelerate AI innovation natively in the Now Platform. With the acquisition of Element AI, ServiceNow will create an AI Innovation Hub in Canada to accelerate c...

11Nov By AdityaNo Comments

FUNDING

Roots Automation Raises $3.2M Seed Funding Round

NEW YORK, Nov. 11, 2020-- Roots Automation, the NYC-based Digital Coworkers as a Service company, has raised a $3.2M seed round led by Vestigo Ventures. Launched by Chaz Perera and John Cottongim, Roots Automation aims to empower companies to free their 'roots' their people to focus on meaningful and impactful work. "Vestigo Ventures has been incredible throughout our seed funding journey and we're extremely thankful for their support," said Co-Founder and CEO, Chaz Perera. "The partnership between Vestigo Ventures and Roots Automation is the ideal combination of enterprise technology and startup expertise together, we'll continue to fuel growth opportunities instead of mundane tasks for our customers." Vestigo Ventures is an early-stage startup venture capital fund specifically for...

Linktree Raises $10.7 Million Series A Led by Insight Partners and AirTree Ventures

26Oct By PriyankaNo Comments

FUNDING

Linktree Raises $10.7 Million Series A Led by Insight Partners and AirTree Ventures

LOS ANGELES, 26th Oct 2020-- Linktree, the trusted tech platform that connects audiences to a user’s entire online ecosystem, has raised $10.7 million in Series A funding, led by Insight Partners, an investor in Shopify, and AirTree Ventures, an early investor in Canva. The funding will accelerate Linktree’s expansion in international markets, including global team growth, and the evolution of Linktree’s product and functionality in new ways to deliver valuable user experiences. Linktree allows anyone from big brands to solopreneurs, celebrities to everyday content creators to build a microsite that houses their digital ecosystem, making it easier than ever to connect with their audiences wherever they are. In the same way Shopify and Stripe simplify the internet economy for eCommer...

Yahoo Japan and Line Corp Announced Merger

18Nov By AdityaNo Comments

BUSINESS

Yahoo Japan and Line Corp Announced Merger

Online services Yahoo Japan and Line Corp. have announced they are merging. Z Holdings Corp., which owns SoftBank Corp. that operates Yahoo Japan, and Naver Corp. of South Korea, which owns a majority stake in Line, said Monday they are aiming for a final agreement by next month. The combination in a joint venture through a tender offer will form an online giant with retail services, advertising and other mobile services such as messaging. The combined sales would be the largest among Japanese online business operators, surpassing Rakuten Inc.. The companies said combining forces will allow them to stay competitive in a drastically changing market, including expansions into robotics and other new areas. The integration will be carried out equally, according to the companies...

France based Saas Startup Payfit Raises $79 million

17Jun By AdityaNo Comments

FUNDING

France based Saas Startup Payfit Raises $79 million

French startup Payfit raises $79 million funding from Eurazeo and Bpifrance. The funding will use to double its workforce by 2020. Founded in 2016 by Firmin Zocchetto (CEO), Ghislain de Fontenay (CTO) and Florian Fournier (CPO), PayFit raises $5.6 million from Xavier Niel and The Family in 2016 and $15.7 million from Accel in 2017. After today's round, the total funds will be more than $100 million. PayFit a software-as-a-service-based platform automates everything from RTI submissions and employee payslips to leaves and expenses. The company allows small and medium enterprises to easily and quickly pay their employees. The company now provides full-fledged HR solutions to 3000 clients based in multiple European countries. Hire around 300 people, Payfit developed it...

Hexaware acquires Mobiquity for $182 million

14Jun By AdityaNo Comments

ACQUISITION

Hexaware acquires Mobiquity for $182 million

IT firm Hexaware has acquired US-based Mobiquity Inc for a total consideration of about USD 182 million (approximately Rs 1,266 crore). Mobiquity creates digital products for brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka. Mobiquity group revenue was USD 70 million for the year ended December 31, 2018. "This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms," Hexaware said in a statement. R Srikrishna, CEO of Hexaware Technologies, said, with this acquisition, Hexaware enters an exciting new phase of growth and capability. "Mobiquity strengthens two of our key strategic offerings, Cloudify Everything, and Customer Experience Transformation. We are seeing st...