BENGALURU: Infosys, after signing its first big-ticket acquisition under CEO Vishal Sikka last week, is evaluating a dozen more startups — all aimed not at bulking revenues or adding clients, as Indian IT companies typically do, but at gaining cutting-edge technology such as automation and artificial intelligence (AI). “We have a dozen targets we are looking at now,” Sikka said in an interview to ET, days after the software company bought automation startup Panaya for Rs 1,200 crore ($200 million).
Mixi is showing interest in the world outside Monster Strike, the game that saved the firm and turned it into a billion dollar company. Today, Mixi announced it acquired Muse & Co., an ecommerce site targeting high-end shoppers. The Bridge is reporting an acquisition price of JPY 1.76 billion (US$14.8 million).
NEW DELHI: Expanding its presence in the high-end fashion segment, online marketplace Snapdeal has acquired luxury fashion portal Exclusively.com for an undisclosed amount. With this acquisition, the city-based firm that gets a little over $1 billion in gross merchandise value (GMV) from its fashion business expects this figure to touch $2 billion by the end of the current calendar year.
Samsung will buy mobile payments company LoopPay in a direct play against rival Apple’s own payments platform. The companies today confirmed reports of an impending acquisition that surfaced in December last year. Samsung will acquire LoopPay – a mobile wallet solution provider – for an undisclosed amount. LoopPay’s technology turns existing magnetic stripe readers in point-of-sale (PoS) terminals into contactless receivers, Samsung said, meaning the service can be used in the majority of physical retail stores.
Line Pay, the payments solution-focused subsidiary of Japanese messaging company Line, has agreed to buy out Tokyo-based WebPay Holdings in order to accelerate Line Pay’s business expansion. WebPay provides a Stripe-compatible payment processing solutions for e-commerce, web services, and mobile developers in Japan.
BANGALORE: Private equity giant Blackstone has made a surprise offer to buy back the Indian BPO unit of the London-listed Serco, as formal bids were fired last week for the asset put on the block, people familiar with the matter said. The bids have valued the Serco unit (formerly Intelenet) at $450-500 million, sources added. PE giants buying back large assets are not uncommon in the US and European markets, but rare in the Indian context.
MUMBAI: Infosys said it would buy automation technology company Panaya Inc, at an enterprise value of about $200 million, as the third-largest IT company in the country looks to boost competitiveness and margins. The Bangalore-based firm said Panaya’s technology would help it bring automation to several service lines through a software-as-a-service model, reducing risks and costs and the time taken to bring services to the market.
MUMBAI | NEW DELHI: Snapdeal is looking to raise funding of at least $400 million (Rs 2,500 crore), just four months after SoftBank led an investment round that made the Japanese conglomerate the largest shareholder in the Delhi-based online marketplace. Two people aware of the negotiations said Jasper Infotech, the owner of Snapdeal, is seeking a valuation of $5 billion and has initiated talks with several investors, both financial and strategic.
MUMBAI: Snapdeal’s founder and chief executive Kunal Bahl said the e-commerce major is close to announcing an acquisition, which will play the role of an enabler for the platform. “You will see us make some acquisitions, some may be announced soon,” Bahl said while speaking at the annual NILF here. Bahl, however, refused to give any indication on the ticket size or on the target company, limiting himself to saying that this will be an “enabler” in the larger scheme of things at the online seller.
Indonesia’s president Joko Widodo (aka Jokowi) asked the nation’s head of creative economy Triawan Munaf to ban foreign investors from acquiring several types of online businesses in the archipelago yesterday, reports CNN Indonesia. The mandate was announced as part of the president’s effort to maintain the growth of local online companies to better benefit Indonesia. The move came suddenly, as Jokowi only appointed Munaf to the position on Monday also.
Australian IT recruiting firm, Peoplebank Holdings, has been bought Japan’s largest staffing company, Recruit Holdings, in a bid to expand into the region. The acquisition reflects Recruit Holding’s vision of becoming the world’s leading integrated HR service provider by 2020, according to a company statement. Under the terms of the agreement, all Peoplebank companies have been fully acquired by Recruit Holdings from private equity majority shareholder, Navis Capital, and Leon Lau, retiring founder and chairman.
NEW DELHI: Infosys, the country’s second largest IT services firm, is open to ‘bigger scale’ mergers and acquisitions but with a caveat, it is not interested in “yesterdays” companies. The Bengaluru-headquartered company, that was once the bellwether of Indian IT industry, also says it is primarily interested in taking over innovative companies and in areas like automation and artificial intelligence.
Samsung Electronics said Thursday that it has no plans to buy BlackBerry, denying a report that the tech giant approached the struggling smartphone-maker about acquisition. “The report is totally groundless. Samsung has no interest in buying BlackBerry,” Samsung spokeswoman Lim Yoon-jeong said. The denial came a few hours after BlackBerry issued a statement also denying the report.
Samsung Electronics recently approached BlackBerry about buying the company for as much as US$7.5 billion (A$9.2 billion), looking to gain access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters. South Korea’s Samsung proposed an initial price range of US$13.35 to US$15.49 per share, which represents a premium of 38 percent to 60 percent over BlackBerry’s current trading price, the source said.
SEOUL: Samsung and Blackberry have splashed frigid water on a report that Samsung wants to make a $7.5 billion takeover offer for the struggling Canadian device maker. That, however, did not stop tech industry watchers from dissecting all the possibilities. Once strong in mobile devices, Blackberry is now an also ran, overtaken by the touchscreen offerings of Apple and Samsung. But analysts say it has technology and intellectual property that could make it attractive to Samsung, which is looking to revive growth momentum in its smartphone business faltered.
NEW DELHI: Social networking giant Twitter is in talks to acquire Indian startup ZipDial, as per a new report. ZipDial, a Bangalore-based mobile VAS company, came into prominence with its implementation of missed calls for user verification and other use cases. According to a report by TechCrunch, the deal has been already closed with the monetary value ranging between $30 to $40 million. The report cites sources as saying that the formal announcement could take place as soon as this week.
Chinese consumer electronics group TCL formally announced that they will acquire the Palm brand from HP. Li Dongsheng, chairman of TCL Group, said that the acquisition of Palm is different from the acquisition of Alcatel. Palm has its fans in America and its operating ideas are similar with Apple and this type of fandom can give Palm strength. Li said the Palm brand still has value in some of the global markets and people expect its re-emergence to continue to provide innovative products.
Alibaba announced in a statement today it has bought a majority stake in AdChina, the country’s largest independent digital advertising technology platform. The investment sum was not disclosed. AdChina will now work closely with Alimama and Aliyun, Alibaba’s marketing and cloud computing units, respectively. Together they will developed an end-to-end marketing service, which Alibaba says will allow it to increase brand-building and sales integration now used by companies and merchants.
MUMBAI: Tech MahindraBSE 4.41 % said on Friday that it acquired Switzerland’s SOFGEN Holdings Ltd in its quest to boost its financial services offering and reach its $5-billion topline target by 2015. This is the third deal Tech Mahindra has struck in as many months. In November, the company had announced it was buying Lightbridge Communications for $240 million. Earlier this week, it formed a joint venture with Avion Systems, in which it will hold a minority stake.
Taiwanese computer power manufacturer Delta announced that its subsidiary Deltronic B.V. will acquire the entire stake in Eltek ASA, a Norwegian power management and sales company, for NOK3.9 billion, which is about CNY3.3 billion. Delta’s chairman Yancey Hai and chief executive officer Ping Cheng jointly announced the news. Hai said that power electronics is the core business of Delta. As a power design company Eltek ASA mainly develops businesses in Europe, America, and emerging markets like Africa; while Delta focuses on Asia and America.