MERGERS/ ACQUISITIONS/STAKEHOLDING CHANGES IN PAST WEEK
FLIP KART ACQUIRES LETSBUY, FASHION RETAILER MYNTRA; RAISES RS 100 CRORE
Online retailer Flipkart bought Letsbuy, and specialized fashion retailer Myntra
Flipkart, one the country's biggest online retailers, has acquired smaller rival Letsbuy in a cash and stock deal without specifying the value of the transaction. But people familiar with the matter said it was worth around $20 million.
Flipkart, one the country's biggest online retailers, has acquired smaller rival Letsbuy in a cash and stock deal without specifying the value of the transaction. But people familiar with the matter said it was worth around $20 million.
24/7 INC ACQUIRES MICROSOFT’S BUSINESS
Microsoft Corp and 24/7 Inc, an agreement to merge the former’s natural user interfaces (NUIs) and data analytics at cloud scale (Big Data) with 24/7 Inc.
The agreement includes 24/7 Inc acquiring Microsoft’s interactive self-service assets (clients, people and technologies). It also includes an R&D partnership, long-term IP licensing and Microsoft taking an undisclosed equity stake in 24/7 Inc.
24/7 Inc is based in Campbell, Calif., and has about 9,000 employees in India, Philipines and other centres. The company was launched in the year 2000 and has raised over $20 million from Sequoia Capital and other investors, according to co-founder and Chief Executive PV Kannan.
The agreement includes 24/7 Inc acquiring Microsoft’s interactive self-service assets (clients, people and technologies). It also includes an R&D partnership, long-term IP licensing and Microsoft taking an undisclosed equity stake in 24/7 Inc.
24/7 Inc is based in Campbell, Calif., and has about 9,000 employees in India, Philipines and other centres. The company was launched in the year 2000 and has raised over $20 million from Sequoia Capital and other investors, according to co-founder and Chief Executive PV Kannan.
TEMASEK SELLING 1.4 PC STAKE OF ICICI BANK
Singapore state investor Temasek Holdings is selling 1.38 percent stake in India's No. 2 lender ICICI Bank in a deal to Raise up to $303 million.
Temasek held 39.83 million shares of ICICI Bank, or 3.46 percent, as of end-September, via its unit Allamanda, according to Thomson Reuters data.
ICICI Bank shares are being sold in the range of 924 rupees to 937.75 rupees each and Goldman Sachs(GS.N) is the sole bookrunner, the term sheet showed.
ICICI Bank shares are being sold in the range of 924 rupees to 937.75 rupees each and Goldman Sachs(GS.N) is the sole bookrunner, the term sheet showed.
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