Chinese B2B e-commerce platform Hc360.com has reached a purchase deal with Zol.com.cn, an information technology vertical portal website in China, worth CNY1.5 billion. The acquisition deal covers several assets, including Zol.com.cn, Zol.com, and Ea3w.com. ZOL stands for Zhongguancun, which is the name for the area in Beijing rife with universities and technology companies. Zhongguancun is considered the Silicon Valley of China.
Philippine tech company Xurpas has announced yet another acquisition, this time of a mobile content provider in Indonesia, marking its first foray into the country. In a disclosure to the Philippine Stock Exchange (PSE), Xurpas said it bought 49 percent of PT Sembilan Digital Investama, parent of Ninelives Interactive, for US$245,000. The Indonesian companies are engaged in mobile content development and distribution, the same business as Xurpas’. They have existing contracts with top carriers such as Telkomsel, as well as XL Axiata and Indosat.
On its announcement issued this week, Beeline unveiled that Sotelco Ltd, ex-owner of the Beeline Cambodia trademark, is to stop involving in the operation of the network. As from March 24, Beeline scratch cards will become invalid and all current sim cards will be shifted to Metfone system, the company declared. Beeline users will benefit from the takeover as they can access to their new provider’s advanced services such as 4G technology.
Metfone, Cambodia’s largest mobile phone provider by subscribers, will absorb Beeline, which has struggled to gain a foothold in the country’s fiercely competitive telecoms market, Beeline announced Thursday in a statement posted to its Facebook page. Beeline, whose parent company is Sotelco Ltd., was purchased by Cambodian businessman Huot Vanthan in 2013 from Amsterdam-based VimpelCom Ltd. Metfone is a subsidiary of Viettel, which is wholly owned by the Vietnamese military.
Daum Kakao, the public-listed firm responsible for one of Korea’s largest web portal in Daum and chat app KakaoTalk, has acquired 100 percent of K Cube Ventures, an early stage venture capital firm that backs primarily Korean companies along with a few Asia-Pacific ones. Daum Kakao will add another US$15 million into K Cube’s kitty to launch a new early stage fund, and in the process, K Cube will become the acquirer’s corporate investment arm.
OLX Pakistan, a subsidiary of the global online classifieds marketplace OLX, has confirmed rumors that it recently bought Asani, a local competitor trying to challenge its overwhelming dominance. In the last several days a notice on the Asani page had been informing users that they will soon be redirected to the OLX Pakistan site, but the company shied away from commenting publicly on the issue. Today, speaking to Tech in Asia, a public relations executive confirmed the acquisition and said, “We are entering into a joint venture with Asani to further build the classifieds market in Pakistan as a single business.
Ecommerce titan Rakuten is doubling down on its struggling Kobo ereaders by acquiring an ebook marketplace called OverDrive. The deal, announced this afternoon, sees Rakuten buying out US-based OverDrive for US$410 million. OverDrive has over two million ebooks, audiobooks, and videos on its site. The company started out offline in 1986 selling print books and CD-ROMs, and then in 2000 it moved online to form an ebook and audiobook repository.
SINGAPORE: ST Telemedia on Tuesday (Mar 17) announced that it has completed the acquisition of land to develop its flagship data centre facility in Singapore. The communications, media and technology investor said the land is located at Defu Lane and is in close proximity to mature data center clusters. The 150,000 square feet facility will be built with the highest Tier-III industry standards, as well as other building certifications such as LEED and BCA-IDA Green Mark.
NEW DELHI: Online marketplace major Snapdeal is in talks to acquire logistics firm GoJavas in a deal estimated to be about Rs 150-200 crore, as it looks to further strengthen its delivery operations in the country. According to sources, Snapdeal is expected to announce the acquisition of the former logistics arm of e-tailer Jabong in the next two weeks. The deal size could range between Rs 150-200 crore, they added.
Internet service provider TPG has made a $1.4 billion play for iiNet, in a move that will see the combined group leapfrog Optus to become the country’s second largest broadband provider. The buyout will create a telco with combined revenues of $2.3 billion. The deal would see TPG’s customer base balloon to 1.7 million subscribers – including iiNet’s more than 60,000 NBN and fibre subscribers – “delivering scale benefits in an NBN environment”.
On Friday, while Asia was sleeping, Mountain View-based startup Quixey announced it closed a US$60 million funding round led by Alibaba, with participation from Softbank, Goldman Sachs, GGV Capital, and others. Re/code first reported the then-upcoming round back in February, so Quixey’s announcement marks the company’s official confirmation.
Chinese classified information website 58.com officially announced that the company has acquired the real estate information website Anjuke.com for USD267.01 million in cash and stock. After the acquisition, 58.com will establish a real estate business cluster to integrate the real estate businesses of 58.com and Anjuke.com and the company will develop a full-sector business covering new homes, second-hand homes, and the rental business.
Indian ecommerce leader Flipkart has just announced its acquisition of mobile ad network AdIQuity which enables app developers and mobile publishers to monetize their inventory. “M&A (mergers and acquisitions) is a key focus for us this year. And given our concentration on mobile, companies that have made a mark in this space will be on our radar,” a Flipkart spokesperson told Tech in Asia.
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.