Jeff Bezos-led online retail giant, Amazon reportedly is in advanced talks to buy self-driving startup Zoox Inc. The move is expected to expand the e-commerce giant’s reach in autonomous-vehicle technology According to a Wall Street Journal report, the deal will value Zoox at less than the $3.2bn. The self-driving startup has achieved a similar valuation…
Technology giant Microsoft recently announced that it has acquired robotic process automation startup, Softomotive for an undisclosed amount. The acquisition was confirmed by Microsoft Chief Executive Officer Satya Nadella during his Build keynote. Nadella informed that Softomotive would become a part of Microsoft’s Power Automate platform (PRA). “We’re bringing RPA — or robotic process automation…
Ride hailing giant Uber is reportedly in advanced talks to takeover food delivery company GrubHub in an all stock deal. According to a Bloomberg report, the two companies could reach an agreement very soon. As soon as the news hit the market, shares of GrubHub jumped about 29% to $60.50, while those of Uber rose…
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…
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…
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…
ArcelorMittal Nippon Steel or AM/NS, a joint venture between ArcelorMittal and Nippon Steel recently announced that it has completed the acquisition of Bhander Power Plant in Hazira, Gujarat from Edelweiss Asset Reconstruction Company. Bhander, a natural gas-based thermal plant with an installed capacity of 500 megawatt (Mw), will remain captive to AM/NS India’s steel manufacturing…
Allcargo Logistics, a logistics firm handling global multimodal transport operations, pan India container freight stations, inland container depots, third-party logistics, warehousing, contract logistics and logistics parks, announced that it is set to emerge as a controlling stakeholder in Gati, as it has received SEBI approval on its open offer to acquire approximately 3.17 crore shares…
Olympus Partners portfolio company Liqui-box, recently announced that it has completed the acquisition of DS Smith Plc’s Plastics Division. The acquired division includes both rigid and flexible packaging businesses. The combined companies will have 35 manufacturing facilities and a global workforce of nearly 3,000 employees. Post the acquisition, DS Smith’s flexible packaging and global dispenser…
Indian tech company, Tech Mahindra recently announced that it has signed an agreement to acquire a 100% stake in US-based Zen3 Infosolutions for $64mn (approx ₹460Cr) in an all-cash deal. With headquarters in Seattle, Zen3 has offices in Dublin, Hyderabad, Visakhapatnam, and Bengaluru with over 1,300 employees. Talking to the Press Trust of India, Vivek…
Global food and beverage giant PepsiCo Inc recently agreed to buy Chinese snack brand Be & Cheery from local jujube maker Haoxiangni Health Food Co Ltd. According to the company, the acquisition will cost PepsiCo about $705mn. PepsiCo said that the company plans to become China’s leading consumer-focused food and beverage company post the acquisition.…
Home rental startup NestAway recently announced that it has acquired the apartment management platform ApnaComplex. The acquisition is a part of NextAway’s strategy to expand its property management business. Monetary details about the deal have not been disclosed yet. According to a Mint report, NestAway plans to use the acquisition to expand its home services…
Customer-to-customer real estate portal, NoBroker recently announced that it has acquired society management platform Society Connect in an all-cash deal. With the acquisition, NoBroker further aims to strengthen its hold in the visitor and community management space where it already has a strong presence with its application NoBrokerHood. The acquisition follows the launch of NoBroker’s…
Qatar Investment Authority (QIA) has completed acquisition of 25.10% stake in Adani Electricity Mumbai Limited (AEML) from ATL along with an investment in shareholder subordinated debt in AEML (“Transaction”) on 10 February, 2020. The total QIA investment in AEML is approximately INR 3,220 Crore, which includes equity consideration of approximately INR 1,210 Crore and shareholder…