Alibaba Group entered the film industry last year, having acquired ChinaVision Media Group and renamed it Alibaba Pictures Group and other related companies. On April 21, Alibaba Pictures announced it was acquiring Guangdong Yueke Software Engineering Company, a supplier of a cinema-ticketing system, through an open bidding for 830 million yuan (US$134 million), Guangzhou’s 21st Century Business Herald reports.
Singapore-based media giant MediaCorp announced today that it has acquired a 52 percent stake in Indonesia’s KLN Group (KLN) for an undisclosed amount. KLN is the parent company of KapanLagi Network, one of the largest and most successful online media companies in the archipelago. The two firms signed the agreement in Jakarta today with the hope that MediaCorp’s expertise and pan-Asian reach can help accelerate KLN’s market position in Indonesia. The partnership also has a goal to create solutions for advertisers to reach customers in new ways.
BENGALURU: Infosys has acquired US-based digital experience solutions company Kallidus for $120 million that includes a deferred component and retention bonus. Kallidus offers including mobile commerce and in-store shopping experiences to large retail clients. It develops and host mobile websites, apps, and other digital shopping experiences across mobile, tablet, desktop, in-store and all emerging channels. The latest acquisition is Bengaluru-based IT company’s second acquisition this year.
Chinese web giant Baidu has wholly acquired online security startup Anquanbao for an undisclosed sum, according to QQ Tech (hat-tip to TechNode for spotting). Anquanbao is a cloud-based protection service that guards websites from malware and distributed-denial-of-service attacks. Baidu plans to use Anquanbao to protect and speed up its Baidu Cloud services. Anquanbao founder Ma Jie will head up Baidu’s cloud security unit. Anquanbao’s other clients include Amazon Web Services China, Tencent Cloud, SAE, and 51DNS. It protects websites like LeTV, Umeng, and Zhihu, among many others.
In acquiring Luxa, an ecommerce site specializing in high-end sales, KDDI has finally got its mark. The telco first invested in the startup back in 2013 for US$3.3 million. KDDI later joined forces with Luxa for its “Syn Alliance,” a collection of popular internet properties designed to form a more perfect mobile portal site last October. Terms of the acquisition were not disclosed.
Southeast Asia’s largest telecommunications operator Singapore Telecommunications will acquire US-based cybersecurity firm Trustwave for US$810 million (A$1 billion) in an effort to expand itscloud-based services. Trustwave will continue to operate as a stand-alone business unit, Singtel said. Its headquarters will remain in Chicago. “It will leverage Singtel Group Enterprise’s assets and market presence to broaden its overall security portfolio and address the fast growing emerging security market opportunity in the Asia Pacific region,” Singtel said in a statement.
Despite its blockbuster partnership with Nintendo, Japanese mobile gaming giant DeNA is charging forward with its expansion into the lifestyle sector. At a press conference in Tokyo today, the firm announced a new initiative dubbed DeNA Palette. It seeks to add ten category-specific content curation platforms to its stable of apps and services through M&A, new hiring, and collaboration. Three of those platforms were made public today, with another three already existing under the DeNA umbrella.
WASHINGTON: Sony Computer Entertainment is buying various assets of OnLive, including 140 US and international patents for cloud gaming services. Onlive will be shutting its operations on April 30. The company is not renewing any subscriptions, and users whose subscriptions renewed on or after March 28 will be refunded. OnLive says that the OnLive Game Service, OnLive Desktop and SL Go (Second Life) will all be available until April 30.
MUMBAI: Tata Consultancy Services, Accenture and Oracle are in race to acquire around 90% stake in IT services provider Elitecore Technologies from global private equity fund Carlyle. The fund that invested Rs 50 crore in the company eight years ago is expected to make more than nine time returns with the company now being valued at Rs 500 crore, three people with knowledge of the deal said. In 2007, through its Carlyle Asia Growth Capital Partners, the fund had invested$10.3 million for a 33% stake in the company. It then invested $3 million to hike its stake in the company.
Snapdeal today announced it acquired a majority stake in RupeePower, a financial products distribution platform. RupeePower will be integrated into Snapdeal’s newly launched financial services marketplace. Further terms of the deal were not disclosed. As a result, Snapdeal customers will now be able to apply for loans through the ecommerce site. RupeePower will use its credit comparison, matching, and processing tech and its network of banks and financial institutions to find the loans best suited for those customers.
While the Indian IT firms are getting aggressive in buying smaller ticket size companies in the US, sources with direct knowledge share that one such candidate, Sierra-Cedar with HQ in Georgia, US is close to launching a sale process soon. Valuation expectation for a complete sale of Sierra-Cedar is pegged at around $350 million, a source said.
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.