Quikr India acquires Zapluk

Online classifieds portal Quikr India Pvt. Ltd has acquired on-demand beauty and wellness services provider Zapluk (ZapForce Technologies Pvt. Ltd) for an undisclosed amount. The acquisition of Hyderabad based Zapluk which had raised an undisclosed amount in angel funding from a clutch of investors, comes three months after Quikr India acquired Gurgaon based on demand beauty service provider Salosa.

Quikr India rebranded its home beauty service as AtHomeDiva in July. The acquisition of Zapluk is expected to strengthen Quikr home beauty services, which have now been rolled out to Bengaluru, New Delhi, Mumbai, Chennai, Gurgaon and Hyderabad. The home beauty services are part of QuikrServices, one of the five verticals identified by Quikr last year to grow revenue.

Quikr is focusing on five key business segments – automobiles, real estate, jobs, services and customer to customer sales. It has identified as new sources of revenue and fends off competition from other venture capital backed businesses that have emerged in each of these categories. Zapluk was founded in August 2015. The firm had acquired Chennai based competitor Pamperazi in June this year.

The company has been investing aggressively to build the five verticals it has identified by both acquiring start-ups and making strategic investments, especially in real-estate segment. Quikr has so far raised $346 Million from investors such as Tiger Global Management, Warburg Pincus and Norwest Venture Partners, among others and is currently valued at $1.5 Billion. 

Microsoft buys AI Startup Genee

Microsoft Corp. is betting big on Artificial Intelligence (AI) to make the software and services smarter. The company has announced the acquisition of AI powered scheduling tool Genee, and will be integrating these capabilities in future versions of the Office 365 cloud based productivity suite.

Before Microsoft swooped in, Genee offered virtual personal assistant services in two ways, first through email and second as messaging chatbots on SMS, Facebook, Twitter and Skype. For example, if you may want to meet a friend for lunch sometime in the next few days, all you need to do is mark Genee in “cc” in the mail you send to the friend. Genee will detect that you need to find the time for the meeting, will scan your calendar, and directly mail your friend with multiple time options. If there are any updates to the calendar leading up to meeting time, Genee will update all parties involved, automatically.

Genee uses natural language processing algorithms to understand the contents of a conversation. And this could come in very handy for Microsoft as it looks to enhance its virtual assistant Cortana, which rivals Google’s Now and Apple’s Siri. Also, Microsoft would do well to add the AI capabilities on to the Office 365 suite and make the Outlook mail service smarter.

This ties in well with Microsoft’s recent acquisition of the Sunrise Calendar app, a more powerful and feature rich calendar app, with automatic scheduling features, which gives Office 365 a big advantage. Enterprise and productivity apps as well as services are critical for Microsoft as the company wants to create a niche for itself in a smartphone market which is now undoubtedly dominated by Google Android and Apple iOS platform. 

Pfizer to acquire Medivation

Pfizer Inc. is close to an agreement to buy Medivation Inc. for about $14 Billion. By acquiring Medivation, Pfizer would gain a blockbuster prostate cancer treatment, Xtandi, that’s already approved for sale in the US and elsewhere, and that analyst project will generate $1.33 Billion in annual sales by 2020.

A $14 Billion purchase of Medivation would be Pfizer’s biggest deal since buying Hospira Inc. for about $17 Billion last year, and the company is a rare prize. As oncology becomes one of the hottest areas in drug development, large drug and biotechnology firms have found only a few mid-sized targets with revenue generating, approved treatments.

Medivation also comes with two experimental products a drug for breast cancer and another for the blood cancer lymphoma. The breast cancer drug belongs to a class of treatments known as PARP inhibitors, which disrupt cancer cell’s process of DNA repair. The drug, talazoparib may well be the most potent medicine in the PARP class, with estimates annual peak sales may reach $3 Billion.

By spurning Sanofi initial offer, valued at about $9 Billion, Medivation was able to bring in more potential suitors and drive up the bidding. Gilead Sciences Inc., Celgene Corp. and Amgen Inc. were among the other drug makers reported to consider the deal.

Piramal Enterprises to acquire Ash Stevens

Piramal Enterprises Limited wholly owned subsidiary in the US has entered into an agreement to acquire 100% stake in Ash Stevens Inc. a US based Contract Development and Manufacturing Organization (CDMO) in an all cash deal for a consideration of USD 42.95 Million plus an earn out consideration capped at $10 Million.

Ash Stevens has over 50 years of experience in contract manufacturing and serves several biotech, mid-size pharma, and large pharmaceuticals clients worldwide. With over 60,000 sq. ft. of facilities, eight chemical drug development and production laboratories, and six full scale production areas, Ash Stevens has built a stellar reputation, led by science, driven by operational excellence, and one that emphasizes quality as a culture.

Ash Stevens has an impeccable safety record of working with high potency anti-cancer agents and other highly potent therapeutics. The state of the art manufacturing facility in Michigan features all necessary engineering and containment controls for the safe handling and cGMP manufacture of small and large scale HPAPIs. Ash Stevens is well poised to become the partner of choice for clients looking to advance programs from early development through launch. 

Boomtrain acquires Nudgespot

Boomtrain, an artificial intelligence based marketing platform has acquired Nudgespot, a Bengaluru based messaging platform founded by Myntra co-founders for an undisclosed sum. Both firms had partnered nine months ago to build a product that helps enterprises communicate better with their customers and visitors on website and mobile apps.

The acquisition of Nudgespot will accelerate Boomtrain strategy to enable AI powered communications between businesses and their customers. This is the first productized messaging application that will be fully integrated into a marketing suite. This gives marketers the ability to incorporate multi-channel chat functionally, combined with AI platform, to facilitate personalized, scalable conversations with their customers.

Nudgespot and Boomtrain are pushing the envelope when it comes to bi-directional messaging technologies. Teaming up with Boomtrain will continue to extend offering to more businesses in need of advanced, easy to use B2C messaging solutions. With the addition of Nudgespot, Boomtrain significantly expands its APAC business. Together Boomtrain and Nudgespot will have 70 people in offices located in San Francisco and Bangalore and will continue to expand its footprint globally.

Pigeon Express to acquire GoJavas

Courier service provider Pigeon Express Pvt. Ltd is in advanced talks to acquire e-commerce focused logistics service provider GoJavas (Quickdel Logistics Pvt. Ltd) which suspended operations last week amid an organization overhaul, in a cash stock deal.

GoJavas, which counts Snapdeal (Jasper Infotech Pvt. Ltd) as a key investor, had started scouting for possible suitors after a bid by Snapdeal for a complete buyout fell through. Besides Pigeon Express, the company had also held talks with another Delhi based courier service provider, Trackon Couriers Pvt. Ltd.

Delhi headquartered Pigeon Express was founded in 2004. The company handles doorstep pickup and delivery of bulk packets, parcels and other consignments, essentially competing with larger rivals such as DHL, DTDC and Bluedart. The company claims to handle 1.2 lakh deliveries every day and has 135 delivery centers across the country. Snapdeal and Jabong together accounted for more than 80% of GoJavas overall business.

Logistics and supply chain are the backbone of e-commerce firms as sound infrastructure helps reduce delivery costs and ensures faster delivery which in turn helps win over customers. GoJavas primarily competed with Flipkart’s logistics firm eKart, Delhivery, Ecom Express Pvt. Ltd and Dotzot, the e-commerce focused arm of DTDC. 

Microsoft acquires Beam

Microsoft has acquired Beam; a Seattle based interactive game streaming service that lets viewers play along with streamers as they watch. Beam’s model takes the mostly passive interaction that streaming fans may be used to form services like Twitch and YouTube adds the ability for viewers to interact with the streamer via crowdsourced controls.

Players interacting through Beam can direct the play of the person streaming, doing things like setting which weapon load out they take into battle for multiplayer shooters. Visual controls provide viewers the ability to help players pick quests, and you can even assign challenges that alter the gameplay considerably from what you’d get via a typical play through.

Microsoft Beam acquisition is an attempt to strengthen company Xbox gaming service. Microsoft says it is bringing Beam interactive technology into the Xbox family to make Xbox Live more Social and fun. Beam interactive streaming platform can be enabled with any game. With Minecraft for instance, Beam users can not only see their favorite streamer but can also play along with them.

Microsoft has been steadily acquiring startups and big name tech organization in order to strengthen some of its core services. Earlier this year, Microsoft acquired LinkedIn for a record $26 Billon in order to better connect with professionals and expand its productivity services. With Beam, Microsoft would try to strengthen its core Xbox Live service while Beam will gain resources to build its product into a bigger game streaming platform.

UrbanClap acquires GoodService

You may soon be able to book services on UrbanClap with a simple chatroom message as the hyperlocal start-up has acquired Delhi based concierge start-up GoodService. It is currently on merging the operations.

As for GoodService, the mobile app has vanished from Apple and Android app stores, while its website redirects to UrbanClap and says that the services are verified by it. The Facebook page of the startup also seems to be out of service, with the post published in early May. The existing users of the app have also not got any response on their service requests since May.

GoodService, used to offer local services such as beauty professionals and cooking classes. The users could order these by initiating a chat with the GoodService app agents, much like contacting a friend for a favor. The company had raised $1.6 Million in funding from Sequoia Capital in June 2015.

The GoodService platform can prove beneficial for UrbanClap, which has been working on an algorithm that asks a series of questions on each category, to make customization of service offerings more accurate. A chat service will allow the company a deeper insight into customer behavior. This is UrbanClap second acquisition within this year, after the mobile based services marketplace acquired after sales service platform HandyHome in an equity swap deal.

Intel acquires Nervana Systems

Tech giant Intel has acquired California based deep learning start-up Nervana Systems run by an Indian origin Entrepreneur, allowing the chip maker to foray into the world of Artificial Intelligence. Nervana has a fully optimized software and hardware stack for deep learning.

Nervana Engine and silicon expertise will advance Intel AI portfolio and enhance the deep learning performance. Intel has the best semiconductor technology in the world. Nervana AI expertise combined with Intel capabilities and huge market reach will allow Intel to realize vision and create something truly special. Intel will apply Nervana software expertise to further optimize the Intel Math Kernel Library and its integration into industry standard frameworks.

With this deal, Intel will now shatter the old paradigm and move into a new regime of computing. The semiconductor integrated circuit is one of humanity crowning achievements. Intel is one of the world largest and highest valued semiconductor chip makers based on revenue. Buy selling to Intel, Nervana has access to technology.

Randstad to buy Monster

Recruitment Company Randstad Holding NV will acquire Monster Worldwide Inc. for $429 Million in a bid to widen the portfolio of Human Resource services it offers. The deal value is a significant comedown from the $7.5 Billion valuation the company demanded in 2006 and marks the acquisition of yet another icon of the first internet boom.

Yahoo’s core business was recently bought by Verizon for $4.83 Billion. Monster will retail its brand and work as an independent entity. Randstad will buy all of the outstanding shares of Monster for $3.40 per share in cash. Monster recently acquired Jobr, Japanese firm Recruit Holdings, though Indeed.com acquired Simply Hired.

It is also a reflection of the changes sweeping through the HR services business where customers are looking for integration much in the same way they do in IT services. The Dutch multinational human resource consulting firm with operations in 39 countries said Monster will continue to operate as an independent entity and will continue to operate under the Monster Brand. Monster has 3700 employees in the 40 countries that it is present in.

Companies like Monster have been hit by multitude of factors in recent times such as the economic slowdown around the world has had an impact on job sites like Monster as companies are making fewer hires. This coupled with professional networking sites and the rise of social media hiring by companies has meant that fewer people take to job sites.

Wal-Mart to buy Jet.com

Wal-Mart stores Inc. agreed to buy e-commerce startup Jet.com Inc. for about $3 Billion in cash, giving the world’s largest retailer the resources for a stronger shopping website to compete with Amazon.com Inc. the online market leader.

The deal also includes $300 Million in Wal-Mart shares that will be paid over time. Acquiring Jet.com, which achieved a $1 Billion gross merchandise run rate in a little more than a year, gives Wal-Mart a website that processes an average of 25,000 orders a day and is adding 400,000 shoppers monthly.

Wal-Mart has spent billions expanding its online operation, including hiring thousands of workers, opening two offices in Silicon Valley and building large e-commerce distribution centers. It also started an annual subscription service similar to half the price to Amazon Prime. Amazon’s $99 a year service provides free two day shipping on millions of items, encouraging shoppers to stay on the website, as well as the company’s video entertainment offerings.

Hoboken, New Jersey based Jet.com has distinguished itself in e-commerce through “gain sharing” luring buyers to add items to their orders to reduce shipping costs, and to pay with debit instead of credit cards to reduce transaction fees. Traditional store based mass retailers such as Wal-Mart, Target Corp. and Costco Wholesale Corp. have been struggling to lend off Amazon’s momentum in online shopping.

Apple to buy Turi

Apple Inc. acquired Artificial Intelligence startup Turi Inc. for about $200 Million in the latest deal by the iPhone maker to accumulate advanced computing capabilities for its products and services.

Turi helps developers create and manage software and services that use a form of Artificial Intelligence (AI) called machine learning. It also has systems that let companies to build recommendation engines, detect fraud, analyze customer usage patterns, and better target potential users. Apple could use this to more rapidly integrate the technology with future products.

Formerly known as Dato, Turi raised more than $25 Million from venture capital investors including New Enterprise Associates and Madrona Venture Group, according to CrunchBase. Apple has purchased multiple firms over the past couple of years that specializes in Artificial Intelligence. The company has also begun to integrate these technologies into products such as its iPhone software and Siri.

In January, Apple acquired Emotient, a startup that uses AI to recognize and act upon facial expressions. Last year, Apple acquired a pair of voice centric AI startups, VocalIQ and Perceptio, to bolster Siri. VocalIQ specialized in using machine learning to allow voice assistants to engage in more realistic conversation. Perceptio focused on helping AI systems run on devices while sharing limited amounts of personal user data.

Cognizant acquires Idea Couture

Cognizant had acquired Idea Couture, a privately held firm that offers a broad range of digital innovation, strategy, design and technology services. Based in Toronto, and with offices in Europe, US and Latin America, the firm has more than 170 social scientists, strategists, anthropologists, user experience experts, designers and connected product developers who serve leading companies across multiple industries including Samsung, PepsiCo, Cox, Citi Ventures, Kroger, ConAgra Foods and others.

New generation of digital technologies, including artificial intelligence, mobility, business analytics, cloud services and the Internet of Things are disrupting every industry. Enterprises are looking to understand and apply these next generation technologies to front office customer experience, middle office business process and back office IT Systems, reshaping how they interact with customers, employees, partners and others in the digital economy.

Idea Couture will become a part of Cognizant digital works, specializes in designing and prototyping products, services and business models that take advantage of the latest technologies. To help clients succeed in this new economy, Cognizant digital works brings together human insight, strategy, design, technology and industry expertise to create innovative solutions at enterprise scale.

Quikr acquires Hiree

Online classified company Quikr India Pvt. Ltd has acquired Bengaluru based online recruitment platform Hiree (Abhiman Technologies Pvt. Ltd) for an undisclosed amount in an attempt to bolster its job listings business, Quikr Jobs.

Following the acquisition, Hiree will merge with Quikr and the Hiree team will be adsorbed into Quikr. The combined entity will have more than 4 Million active jobseekers. Hiree was founded in May 2013 and connected potential jobseekers serving notice periods with prospective employers in an attempt to fast track the recruitment process by enlisting active jobseekers.

In May 2015, the company rebranded itself as Hiree and allowed listings by all categories of jobseekers in an attempt to increase its target audience. The company had raised INR 20 crore from IDG Ventures and a clutch of angel investors. However, the company had a bumpy ride as overall hiring, especially by startups, slowed down after startups scaled back to conserve cash and started focusing on streamlining their operations with the existing workforce following a slowdown in investments.

As a classified portal, Quikr has just one rival, OLX, which is backed by Naspers Ltd, a South African mass media company. Tiger Global Management backed Quikr which has so far raised about $346 Million from venture capital firms has been investing aggressively to build these verticals by both acquiring companies and making strategic investments. In May, Quikr acquired Gurgaon based home beauty services provider Salosa for an undisclosed amount to bolster its home services business.

Oracle buys NetSuite

Oracle will acquire NetSuite for about $9.3 Billion, or $109 per share in all cash deal. Both Oracle and NetSuite’s cloud service offerings aimed at enterprise customers will continue to operate and coexist in the marketplace forever.

Eighteen year old NetSuite claims a dominant position in the cloud enterprise resource planning (ERP) space, which includes offerings to help businesses track supply and demand, inventory, accounting, customer relationships (CRM) and HR. The ERP industry has been an active space for M&A and general consolidation over the past few years, and Oracle in general has been an aggressive acquirer of smaller companies throughout 2016, with recent pick-ups including Opower and Textura.

Oracle acquisition of NetSuite dwarfs its previous 2016 acquisitions in total deal value, though it still ranks below the all-time leader, PeopleSoft, which Oracle acquired for a heady $10.3 Billion way back in 2004, when such stratospheric values were even more uncommon. While their service offerings are similar, NetSuite offers Oracle access to companies sized smaller than its traditional clientele, and could also give it some additional competitive edge in taking on primary rival Salesforce.

Flipkart’s Myntra acquires Jabong

Flipkart Ltd has acquired Jabong through its unit Myntra in a cut-price deal that values the online fashion store at $70 Million, moving to preserve its position as India’s No 1 e-commerce marketplace in the face of an onslaught by Amazon India. Jabong had been valued at $508 Million in 2013.

For Flipkart – Myntra, the acquisition of Jabong will boost sales at a time when Flipkart is struggling to revive growth and struggling to protect its leadership in a market where Amazon has made rapid strides. Jabong offers more than 1500 international high street brands, sports labels, Indian ethnic and designer labels and over 15,000 styles from more than 1000 sellers.

In September 2014, German investor Rocket Internet merged Jabong with four other online fashion retailers in Latin America, Russia, the Middle East, South East Asia and Australia to create GFG. GFG, which is jointly owned by Rocket Internet and AB Kinnevik, houses the German e-commerce company’s fashion businesses from emerging countries, including Jabong, Latin America Dafiti, Russia Lamoda, Namshi in the Middle East and Zalora in South East Asia and Australia.

Earlier this month, Jabong expedited its sale process as Kinnevik and Rocket Internet were reluctant to pump more capital into the company in a gloomy e-commerce market. Jabong, which matched larger rival Myntra in sales until early 2014, has ceded market share since then, as Myntra parent Flipkart spent lavishly on advertising and discounts to lure customers.

Verizon buys Yahoo

After a month long bidding process and many layoffs, Yahoo has finally found a buyer. Verizon (which owns AOL, which owns TechCrunch) is officially acquiring Yahoo core business for $4.83 Billion in cash, which includes Yahoo advertising, content, search and mobile activities.

The purchase will boost Verizon AOL Internet business, which it bought last year for $4.4 Billion as it gains access to Yahoo’s ad technology tools, BrightRoll and Flurry and search, mail and messenger assets. Verizon, the No 1 U.S. wireless operator, has in recent years looked to mobile video and advertising for new sources of revenue in an over saturated wireless market. It has also scaled back on its Fios TV and internet service.

Verizon could combine data from AOL and Yahoo users in addition to its more than 100 Million wireless customers to create data to help advertisers specifically target users based on online behavior and preferences. Yahoo will continue as an independent company until the deal receives shareholder and regulatory.

The sale doesn’t include Yahoo’s cash, its shares in Chinese e-commerce giant Alibaba Group Holding Ltd, shares in Yahoo Japan, Yahoo convertible notes, certain minority investments or Yahoo non-core patents. Verizon prevailed over rival bidders for Yahoo, including AT&T Inc. and private equity firm TPG Capital Management LP.

Aditya Birla Fashion Acquires Forever 21

In a $26 Million dollar transaction, Aditya Birla Fashion and Retail has become the joint venture partner of US fast fashion major, Forever 21, replacing DLF Brands. The company is acquiring Forever 21 exclusive offline and online rights in the country, including its existing store network.

The apparel company, which currently has 12 stores across Mumbai, Delhi and Bengaluru, had been dissatisfied with the pace of growth and consequently opted to team up with ABFRL. The Company had originally planned for 50 stores in five years, in addition to Chandigarh; the US firm is planning stores in other Tier II cities such as Coimbatore and Surat.

While the US firm also has its own e-commerce platform, it currently sells its clothes and accessories through the fashion portal Myntra. The JV between Forever 21 and DLF brands was pitching perfect. Forever 21 was to occupy space at a competitive rent in DLF own malls. But over a period of time, it turned out that DLF malls were not always the most lucrative shopping destinations.

That meant Forever 21 needed to have a different expansion plan, given that competing brands like H&M and GAP are aggressively multiplying store presence. This is the third major brand that DLF Brands has let go. Others include Mango and Sephora. At the moment Mothercare, Sunglass Hut and Claires are the prominent international brands that DLF still has under its umbrella.

Google to buy Moodstocks

Google announced a deal to buy Moodstocks, a French startup behind technology that helps smartphone recognize whatever they are aimed at. Moodstocks caught the US technology giant eye for its work in computer vision and machine learning, as well for accomplishments in enabling smartphones or other mobile devices to recognize images and objects.

Google is among Silicon Valley titans investing in ways to get computers to see and understand the world around them the way people do. Machine learning has been woven into an array of Google offerings, such as its free language translation and photo services. Google and its parent Alphabet are expected to integrate the image search team in the artificial intelligence efforts.

Google Home, about the size of a stout vase, will hit the market later this year and will incorporate new virtual assistant software. When home hits, it will challenge Amazon Echo voice controlled assistants that have proven to be a hit since the Seattle based online retail colossus unveiled them two years ago.

Many Internet companies are exploring the promise of artificial intelligence, for example, smartphone applications that can learn a user’s habits and anticipate searches and requests. Microsoft, Apple and Google have each created their own virtual assistants for users.

Team Lease acquires ASAP Info Systems

Leading staffing company TeamLease services Ltd has acquired Bengaluru based ASAP Info Systems Pvt. Ltd for Rs. 67 crore. The company said the acquisition will help it expand its footprint in the core IT hiring space. ASAP Info Systems has over 1000 associates and 171 core employees.

This transaction creates an opening balance for TeamLease to build an IT staffing business. The acquisition is also in sync with strategy of margin expansion through new product verticals and new client segments. The transaction will be done through TeamLease wholly owned subsidiary, TeamLease staffing Services Private Limited. The transaction will be immediately accretive to TeamLease earnings per share.

TeamLease core business is to provide temporary staffing solutions for companies across sectors. Its clients include Microsoft India, LG Electronics, ICICI Lombard, Bata India and Larsen & Toubro. TeamLease was also the first temporary staffing solutions firm to get listed on the Indian bourses, earlier this year. TeamLease has for long serviced IT Companies for non-IT staffing positions, but now expects ASAP Info Systems to help continue expansion in the space after merging its current offices.