Wednesday, October 4

Tag: Merger

Taboola Ready to Listed on NYSE After Merger with ION
25Jan By NitishNo Comments
Market

Taboola Ready to Listed on NYSE After Merger with ION

New York, NY – January 25, 2021 – Taboola, has entered into a definitive merger agreement with ION Acquisition Corp. 1 Ltd. (NYSE: IACA) under a special purpose acquisition company. The merger makes Taboola valuation approx $2.6 billion and Taboola expects to have $600 million of cash and cash equivalents on its balance sheet at closing. Prior to this merger Taboola raises $160 million and had approximately $240 million of cash and cash equivalents on its balance sheet. After the acquisition, Taboola name and will trade on the NYSE under the new symbol “TBLA”. The transaction is expected to close in Q2 of 2021. Founded in 2007 by Adam Singolda, Taboola enables digital property owners to harness the value of AI-driven recommendations and offers advertisers a way to effectively acc...
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Encuentra24 and OLX Group Merged in Central America
14Jul By AnkitaNo Comments
BUSINESS

Encuentra24 and OLX Group Merged in Central America

BERN, Switzerland, July 14, 2020-- Encuentra24, a leading marketplace in Central America and OLX Group, a leading global marketplace network, announced their merger in Central America. As part of the deal, Encuentra24 and OLX Group will combine their operations in four countries. In Panama, Costa Rica and El Salvador, the existing Encuentra24 and local OLX platforms will merge under the Encuentra24 brand. In Guatemala, the local OLX platform will merge and launch under the Encuentra24 brand. Encuentra24 will manage the new local operations in all four countries, in addition to its existing businesses in other markets in Central and Latin America. This merger will provide the more than five million monthly users with access to a new, best-in-class online classifieds experience...
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Yatra.com terminates $337 Million merger pact with Ebix
8Jun By NitishNo Comments
BUSINESS

Yatra.com terminates $337 Million merger pact with Ebix

Online travel company Yatra Online said it is terminating pending merger agreement with the US-based software firm Ebix Inc and has filed litigation seeking substantial damages from Ebix over breaches of the agreement. Ebix Inc had signed an agreement to acquire Yatra Online Inc, the parent company of online travel firm Yatra.com, for an enterprise value of USD 337.8 million (over Rs 2,300 crore) in 2019. The company, "has provided notice of termination of its pending merger agreement with Ebix Inc and filed litigation in the Court of Chancery of the State of Delaware over Ebix's breaches of the merger agreement," Yatra Online Inc said in a statement. Yatra Online Inc seeks to hold Ebix accountable for breaches of its representations, warranties and covenants in the merger agreem...
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Volvo Cars and Its Chinese Owner Plan to Merge
10Feb By AnkitaNo Comments
Automobile

Volvo Cars and Its Chinese Owner Plan to Merge

Sweden's Volvo Cars and its Chinese owner Geely said they are considering merging into a single group to better share technology and financial resources while preserving their separate brands. The merged firm "would have the scale, knowledge and resources to be a leader in the ongoing transformation of the automotive industry," they said in a statement. "The combination would preserve the distinct identity of each of the brands Volvo, Geely, Lynk & Co, and Polestar," they added. Geely bought Volvo in 2010 from Ford which hadn't been able to turn around the Swedish automaker. But under the Chinese firm Volvo has rebounded and smashed its sales records. Volvo sold more than 705,000 vehicles in 2019, besting the record it set in 2018 by 10 percent, and the automaker expects c...
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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...
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Myntra & Jabong Merge, Lay off 150 Employees
17Nov By Gauri SinghNo Comments
BUSINESS

Myntra & Jabong Merge, Lay off 150 Employees

The e-commerce fashion players Myntra and Jabing that have played a major role in the industry are reportedly merging and this has come days after Walmart put the two fashion businesses of the Flipkart Group under direct control of CEO Kalyan Krishnamurthy. "Since Myntra’s purchase of Jabong in mid-2016, the two brands have been steadily integrating key business functions and streamlining processes. This has resulted in revenue growth and a significant improvement in the customer experience.As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams," the company stated. As a part of the deal, Narayanan will continue to lead the team and also the company's independe...
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Electric Scooter Startup Grin Merges with Ride for Expansion
27Oct By Gauri SinghNo Comments
BUSINESS

Electric Scooter Startup Grin Merges with Ride for Expansion

Mexico-based electric scooter startup Grin has reportedly merged with Brazil-based Ride to further carry forward the company’s expansion across Latin America. As of now, the Y Combinator-backed Grin only operates in Mexico City, but it has plans to expand to other cities throughout Latin America. This recent merger will enable Grin to do this as early as next week as Ride already operates in São Paulo. The development has come shortly after Grin raised a $45 million Series A round. Following the merger, Ride will operate under the Grin brand in Brazil and the Ride team will be in charge of all of Grin’s operations in Brazil. The ride is currently the only shared electric scooter operator in all of Brazil, but that will soon change when Yellow deploys its scooters. “We definitely wan...
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Alibaba to Merge China’s Food Delivery Units To Surpass Meituan
7Aug By Gauri SinghNo Comments
CHINA

Alibaba to Merge China’s Food Delivery Units To Surpass Meituan

China’s largest conglomerate Alibaba Group is planning to bring together and merge its food delivery units. The units that are getting merged are food delivery platform Ele.me and food and lifestyle services firm Koubei. The purpose behind this move is to raise funds for the combined business and also to intensify the battle with Tencent-backed Meituan Dianping which is the company’s rival. With this merger, Alibaba Group is expecting to raise between $3 billion and $5 billion for the combined entity, and according to the sources, the entity could be valued at up to $25 billion. "Alibaba and Meituan are the two main companies that can offer comprehensive O2O services," said Mo Jia, a Shanghai-based research analyst with technology consultancy Canalys. "Alibaba's three units are complem...
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Vodafone’s CEO Now Becomes the Chairman of COAI
8Jun By Gauri SinghNo Comments
News

Vodafone’s CEO Now Becomes the Chairman of COAI

The telecom industry organization COAI (Cellular Operators Association of India) on Thursday announced the appointment of Sunil Sood as the chairman of the company who was the Managing Director & CEO of Vodafone India since 2015. Ajai Puri, who has been the Chief Operating Officer of Bharti Airtel will be the vice chairman of the association. Sunil Sood from the past two years playing the role of the Vice Chairman of COAI and now has replaced Gopal Vittal who held the position of Chairman till now and also was Bharti Airtel's MD and CEO for India and South Asia. The recent appointed was announced at the Annual General Body meeting for fiscal 2018-19. COAI said in a statement, "...Sunil Sood, Managing Director & Chief Executive Officer, Vodafone India Ltd, who was Vice Chairman ...
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Dell Says it will Explore IPO or Merger with VMware
4Feb By reutersNo Comments
BUSINESS

Dell Says it will Explore IPO or Merger with VMware

Computer maker Dell said on Friday it was considering a public offering of common stock or a combination with business software maker VMware, its publicly held subsidiary. Dell, the world's largest privately held technology company, is under pressure to boost profitability after its debt-laden acquisition of data storage provider EMC for $67 billion in 2016 failed to meet financial targets, hurt by intensifying price competition. Combining with VMware would provide access to VMWare's $11.6 billion in cash, helping Dell trim its $52.5 billion debt pile. Last month's U.S. tax reform made servicing that debt more expensive due to caps on deducting interest expense. The combination would also make Dell a publicly listed company, offering a path for private equity firm Silver Lake to b...
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Flipkart Completes Its Merger With ebay.in
1Aug By Press Trust of IndiaNo Comments
ACQUISITION, News

Flipkart Completes Its Merger With ebay.in

E-commerce major Flipkart today said it has completed the merger with eBay Indias operations. With this, eBay.in will now be a Flipkart Group company. The deal was announced in April when the Flipkart group raised USD 1.4 billion from global technology majors eBay, Tencent and Microsoft. (more…)
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