Mukesh Ambani’s Reliance Industries is in advanced discussions to acquire a majority stake in online pharmacy Netmeds as part of its broader play in commerce, said three sources familiar with the development to the TOI. Netmeds is a fully licensed e-pharma portal that offers authenticated prescription and Over the Counter (OTC) medicine along with other…
Tech giant and chipmaker Intel Corporation recently announced it has acquired Israel-based Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900mn. Moovit is known for its urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation, bicycle and scooter services, ride-hailing, and car-sharing. The addition of Moovit…
Northern Data AG, one of the world’s largest providers of high-performance computing (HPC) solutions, announced that it has acquired Montreal-headquartered Kelvin Emtech Group. Post acquisition, Northern Data will push its existing strategy of expansion in Canada and across North America, thus enabling the Company to accelerate its growth considerably. Northern-Data-CEO Aroosh Thillainathan comments on the…
ShareChat, a social networking and regional content platform, announced that it has acquired Memer, a meme discovery and sharing platform. Financial details of the transaction remain undisclosed. Post acquisition, Memer’s product suite will be integrated into Twitter-backed ShareChat, while the eight-member team will join the Bengaluru-based startup. “Today, ShareChat is on a rapid growth path,…
KKR, a global investment firm, announced that it has entered into a definitive agreement with leading infrastructure developer Shapoorji Pallonji Infrastructure Capital to acquire five solar energy assets for a total consideration of Rs15.54 billion (approximately US$204 million). This transaction is the KKR’s second investment in India. The solar energy assets KKR has acquired from…
Ansira Partners, Inc., an independent global marketing services and solutions company, announced that the company has completed the acquisition of the CDK Global Digital Marketing Business, which has been rebranded as Sincro. “The completion of the acquisition of Sincro further amplifies the breadth and depth of Ansira’s local marketing solutions, which is especially important today…
ManyChat, a San Francisco-based chat marketing platform, announced that it has acquired Converlytics, which enables businesses to track, analyze, and quantify valuable attribution analytics connecting Facebook Messenger to Shopify. Post acquisition, ManyChat Pro users can have access to more robust analytics at no additional charge, enabling them to pinpoint marketing dollars to specific campaigns. “As…
TVS Motor Company, an Indian-multinational motorcycle company, has announced the acquisition of Britain’s iconic sporting motorcycle Norton in an all-cash deal for 16 million pounds (about Rs 153 crore). TVS Motor will acquire certain assets of Norton Motorcycles UK Ltd through one of its overseas subsidiaries. “The deal will reflect TVS Motor Company’s and India’s…
The novel coronavirus outbreak which originated in China, has now spread to almost every corner of the world and has led to the world’s largest work-from-home experiment. With employees working remotely and communication getting hampered by distances, there has been a surge on the usage of video conferencing apps like Google Meet, Microsoft Teams and…
Infineon Technologies AG announced the closing of the acquisition of Cypress Semiconductor Corporation. The San José-based company has become part of Infineon effective as of the closing. “The acquisition of Cypress is a landmark step in Infineon’s strategic development,” said Infineon CEO Reinhard Ploss. “Together, we offer our customers the industry’s most comprehensive portfolio for…
ShapeShift, one of the world’s leading self-custody crypto platforms, announced the acquisition of Portis, an Israeli startup and noncustodial software wallet solution. With this acquisition, all ShapeShift Platform users will soon be able to log into and access these DeFi services seamlessly, under one account. The DeFi users will, similarly, now be able to instantly…
Hindalco-owned Novelis recently announced that it has completed the acquisition of Ohio-based aluminium rolled product manufacturer Aleris Corp. The deal, which was signed two years back, has finally been completed at a value of $2.8bn. The deal has also made Hindalco the world’s largest aluminium maker. In an official statement, Kumar Mangalam Birla, Chairman of…
Food-delivery unicorn Zomato is reportedly in talks to acquire SoftBank-backed grocery startup Grofers. According to reports by The Economic Times and Entrackr, the all-stock deal might value the e-grocer at $750mn (around ₹5,700Cr). Reportedly, Softbank is considering investing about $100-$200mn in the merged entity through its VC arm Vision Fund. According to sources mentioned in…
India’s largest FMCG company Hindustan Unilever Limited (HUL), recently announced that it has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Limited (GSKCH) with HUL. This merger was first announced in December 2018 and was subject to obtaining necessary approvals. It is being said that the acquisition is one of the largest deals in the…
Online grocery marketplace Bigbasket recently announced that it has acquired a 100% stake in milk delivery app DailyNinja to grow its milk delivery services. As per various media reports, the grocery delivery platform paid around $15-20mn for the acquisition. The acquisition further strengthens Bigbasket’s leadership position in the subscription delivery space in the Silicon Valley…