Page 30 - Acquisition

Meta to acquire VR startup 'Within' after favourable court ruling

A federal judge has sided with Facebook parent Meta and cleared the way for the company to buy virtual reality startup Within Unlimited, the maker of the popular fitness app Supernatural. Federal antitrust regulators had sought to block the acquisition on the grounds that it would hurt competition in the emerging virtual reality market. But U.S. District Judge Edward Davila denied the Federal Trade Commission's request for a preliminary injunction against the deal. The judge's ruling said the agency did not provide sufficient evidence to prove its case. Meta said it will now proceed with its acquisition of Within Unlimited. The FTC had argued that Meta's acquisition of the small company reminiscent of Facebook's early purchases of Instagram and WhatsApp would hurt competition in the emerging virtual reality market. Allowing the tech giant to buy Los Angeles-based Within Unlimited, the FTC had argued, would violate antitrust laws and dampen innovation, hurting consumers who may f

We're looking at acquisitions but won't buy at all costs: Tata Consumer MD

In a Q&A, Sunil D'Souza talks about the company's strategy to launch more D2C brands and his outlook on demand for the company

Happiest Minds to acquire SMI via upfront, deferred equity for Rs 111 cr

Happiest Minds Technologies on Wednesday announced that it has signed an agreement to acquire Madurai-headquartered IT services company SMI through a combination of upfront and deferred equity consideration amounting to Rs 111 crore. With 400 plus offshore-based employees, SMI (Sri Mookambika Infosolutions) has an annual revenue run rate of USD 9 million (over Rs 73 crore). "Happiest Minds Technologies today announced the signing of definitive agreements to acquire 100 per cent of SMI - a Madurai-headquartered, profitable, IT services company through a combination of upfront and deferred equity consideration totalling Rs 111 crore," the company said in a statement. SMI provides product engineering services to its US customers around enterprise applications and integrations, digital data platform services (analytics, data strategy, Artificial Intelligence/Machine Learning, User Experience) and mobility services. It has, over the years, built deep domain expertise around the healthc

EaseMyTrip acquires 55% stake in real-time marketplace cheQin for Rs 3 cr

Online travel tech platform EaseMyTrip.com on Tuesday said it has acquired a 55 per cent majority stake in cheQin for Rs 3 crore. cheQin is a real-time marketplace, which allows travellers to bargain with hoteliers without any effort. The deal will help in strengthening EaseMyTrip's hotel channel in terms of technology, adaptability, personalisation, and the acceptance of bulk booking and long stay requests, the company said in a statement. "EaseMyTrip is focusing on the growth of its non-air segments. This acquisition is a step towards revolutionising the hotel business altogether. Through cheQin, which is a unique app in the hotels industry, we will diversify our hotel booking experience through technology support," EaseMyTrip CEO and Co-Founder Nishant Pitti said.

Pine Labs acquires enterprise platform from Saluto Wellness for unknown sum

The deal would help Pine Labs strengthen its offerings across employee rewards and recognition, customer loyalty, and channel partner programmes for medium and large enterprises

Baking a success: How Sampath Kumar sisters came up with a winning recipe

The scale-up plans are already being chalked out. Yoga Bar, which is into nutrition bars, muesli, oats and cereals, reaches about 5,000-6,000 retail outlets

Reliance Retail acquires footwear and apparel retailer V Retail: Report

Reliance Retail has acquired Telangana and Andhra Pradesh-based footwear and apparel retailer V Retail Pvt Ltd, which operates a retail chain under the brand name 'Centro Style'. V Retail operates 32 Centro stores in the markets of Andhra Pradesh, Telangana and Karnataka. "Reliance Retail strengthened its product offerings with the acquisition of V Retail (Centro Footwear)," said the earning statement from Reliance Industries on Friday. However, the company did not disclose the financial details of the deal. According to industry sources, the acquisition was completed during the last quarter. Started in April 2009, as a distribution house, V-Retail is now one of the largest retail, distribution and franchising companies in South India. It is promoted by the distributors of several National and International brands operating in footwear and garments in Andhra Pradesh and Telangana, said the information available on V Retail's portal. Out of its 31 stores, about 15 Centro stores a

Sun Pharma to acquire US-based Concert Pharmaceuticals for $576 million

Deal size could expand to $827 mn if additional milestone-based payments are made

LTTS: Recent acquisition of SWC overhang dents investor sentiment

Near-term growth concerns, too, weighed on the stock

360 ONE acquires controlling stake in Mumbai Angels, announces 2 new funds

Both funds will focus on early-stage start-ups

ITC to buy 'Yoga Bar' to strengthen presence in health foods space

ITC signs binding term sheet to buy 100% share capital of Sproutlife Foods

RattanIndia Enterprises acquires 100% shareholding in EV maker Revolt Motor

RattanIndia Enterprises Ltd on Saturday said it has completed the acquisition of Revolt Motors which is into manufacturing of electric vehicles. Now Revolt Motors has become a 100 per cent subsidiary of RattanIndia Enterprises Ltd, the company said in a statement. "RattanIndia Enterprises Limited has completed acquisition of 100 per cent shareholding in the electric motorcycles market leader Revolt Motors," the statement said. Revolt Motors is the highest selling electric bike in the country with its manufacturing facility in Manesar, Haryana. The EV maker has expanded its footprint pan-India with 30 dealerships spread across the country. Its flagship model RV400 has been witnessing a robust demand and is by far the most technologically advanced bike in the world, and RattanIndia Enterprises seeks to significantly scale up Revolt's growth and make it the largest EV two wheeler company in the country, RattanIndia Enterprises said. Anjali Rattan, Business Chairperson, RattanIndia ..

Axis Bank to pick residual stake in Max Life at fair market value

The revision in valuation has been done according to IRDAI guidance

Gautam Adani among potential suitors for a stake in govt-backed PTC

NTPC, NHPC, Power Grid, and PFC looking to sell stakes of around 4% each

Reliance group firms make open offer to buy 26% stake in Lotus Chocolate

Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate. The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer. The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday. The open offer starts on February 21 and closes on March 6, said the public notice. Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, had on Thursday closed at Rs 149.35 apiece, which was the highest price in the last three months. RCPL is the FMCG arm and a wholly-owned subsidiary of RRVL. The open offer follows RCPL's announcement last week for the acquisition

Mirae Investments acquires industrial asset in Mumbai for Rs 130 cr

Group's first acquisition under India-focused funds allocation for high-grade real estate

Microsoft claims to have no idea why 'Call of Duty' franchise is special

Last year in January Microsoft announced it would spend $68.7 billion to acquire Activision Blizzard, highlighting how it would get 'Call of Duty', 'Warcraft' and 'Candy Crush' for that fee

InCred Capital acquires digital investment firm Orowealth in all-cash deal

Acquisition marks InCred Capital's foray into retail wealth management

Tata Motors completes Rs 725 cr acquisition of Ford's Sanand plant

All eligible employees of Ford India's vehicle making plant have been offered jobs at TPEML on terms, conditions and benefits of service similar to those currently availed by them

Lotus Chocolate hits 5% upper limit as Reliance eyes majority stake

Reliance Consumer Products will acquire 51 per cent controlling stake in Lotus for Rs 74 crore and also make an open offer to acquire additional 26 per cent stake.