Eicher Motors Ltd subsidiary Volvo Eicher Commercial Vehicles Ltd (VECV), recently announced that it has acquired Volvo Bus India, a division of Volvo Group India Pvt. Ltd, for about ₹100 crore. Volvo Bus India is engaged in the business of production and sale of buses and coaches in India. “The transaction comprises of the proposed…
Facebook-backed online learning platform Unacademy has recently acquired Chandigarh-based ed-tech startup PrepLadder for $50mn. PrepLadder primarily provides preparatory help with medical entrance exams. The recent acquisition in the edtech space highlights the preference of investors in the current times when physical learning has taken a backstep. In the last six months, investors have spent about…
Ride-hailing giant Uber Technologies Inc has reportedly agreed on a deal to buy food-delivery app Postmates Inc for $2.65bn in an all-stock agreement. The development was first reported by Bloomberg News on Sunday, citing people familiar with the matter. According to the report, the deal has been approved by Uber’s board and might be confirmed…
U.S.-based Carlyle Group Inc recently announced that it has agreed to buy a 20% stake in the pharmaceutical unit of Indian conglomerate Piramal Enterprises Ltd for about $490mn. Both the companies have jointly announced the transaction in a statement. Piramal Pharma in a statement said that it will use the capital injection to accelerate its…
Galaxy Semiconductor, Inc. recently announced that it has signed a definitive agreement to acquire substantially all of the assets of the Quantix Business from Mentor Graphics Corporation, a Siemens-owned business. The acquisition will allow Galaxy to re-establish itself as the independent provider of test data management and analysis solutions for the semiconductor industry. The transaction…
Chinese-gaming giant Tencent recently announced that it has purchased the Malaysian video streaming platform Iflix’s “content, technology, and resources” in an attempt to grow its presence in Southeast Asia. In an official statement, the company said that Iflix’s catalogue of “international, local, and original content” would enable it to expand the reach of its overseas…
Foodtech unicorn Swiggy recently announced that it is planning to shut down its Mumbai-based on-demand premium food delivery service Scootsy. The Bengaluru-based company had acquired Scootsy in 2018 but let it operate as an individual entity. The company now plans to merge the brand under the bigger umbrella of its main brand to establish its…
Technology major Cisco Systems, Inc. recently announced that it has agreed to acquire privately-held software maker ThousandEyes, Inc. The deal is worth nearly $1 billion, Bloomberg reported earlier, citing sources. The recent development at the company was anticipated by industry analysts since Cisco bought AppDynamics in 2017 for $3.7 billion just before the IPO. The…
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…
Putting all the rumours aside, technology giant Apple recently announced that it has acquired virtual reality startup NextVr for $100million. The reason for the buyout is not yet disclosed by the tech major, however, it is being said that the acquisition will help Apple develop its own VR capabilities. In a media statement, Apple said,…
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…
American IT services company, Cognizant has recently entered into an agreement to acquire Collaborative Solutions, a US-based global consultancy firm. The company specializes in Workday enterprise cloud applications for finance and human resources. The transaction is expected to be closed in the second quarter of 2020, subject to regulatory clearance and satisfaction of certain closing…
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…