Last week, reports emerged from the Flipkart office that an initial agreement of sale to Walmart had been signed. The world’s largest retail chain, Walmart Inc. has now announced that it has agreed to become the largest shareholder in Flipkart Group. The deal is worth approximately US$ 16 billion and will see Walmart own 77% stake in the Indian e-commerce outlet.
Subject to regulatory approval in India, Walmart will pay approximately $16 billion for an initial stake of approximately 77 percent in Flipkart, formally Flipkart Private Limited.
This announcement has also confirmed another rumour started by a previous report. Walmart announced that investors like Tiger [...]
The world’s largest retail chain, Walmart will buy 73% of Flipkart. The deal appears to be imminent as Walmart has prepared to at least US$ 14.6 billion, and as much as US$ 16 billion, in the cash-and-stock buyout of the Indian e-commerce giant. Moreover, Alphabet Inc., the parent company of Google, is said to be ready with a US$ 3 billion investment as well.
According to the report by Factor Daily, one source had valued Flipkart at US$ 20 billion while two other sources said that Walmart had put company’s value at as much as US$ 22 billion. At this price, Walmart will spend more than US$ 16 billion for the acquisition. After meetings went on throughout Thursday, both [...]
Google has announced the completion of a US$ 1.1 billion deal with HTC. The deal was confirmed in September 2017 but, it has now passed the requisite approvals and is finalised.
The acquisition will see the transfer of over 2,000 engineers from HTC. Along with the transfer, the company will also receive a non-exclusive license for HTC’s intellectual property. HTC is retaining its Vive VR division and confirmed that it will continue making smartphones. Rick Osterloh, Google’s senior VP of hardware, wrote:
I’m delighted that we’ve officially [...]
Apple has long been rumoured to be be working on a TV subscription streaming service to be integrated into their “TV” app on iOS devices and on the Apple TV. With Netflix already at the top of the list of subscription-based streaming services. Apple may likely be setting its eyes on the acquisition of Netflix. An analyst claims that there is a 40% likelihood that Apple will acquire Netflix now that US President Trump’s corporate tax cut has been passed.
The cut in corporate taxes, along with a one-time allowance for companies to repatriate cash stored overseas without a major tax hit, will give Apple a much larger cash surplus to buy new companies. Apple has [...]
Last week, it was reported that Apple was on the verge of acquiring of Shazam. On the 11th of December, Apple confirmed the acquisition of the popular music recognition app, Shazam. While neither of the concerned companies disclosed the value of the deal, a report by TechCrunch claims that the deal is worth US $400 million and that Snap and Spotify were potential buyers as well.
Acknowledging the acquisition, Apple said in a statement:
We are thrilled that Shazam and its talented team will be joining Apple. Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS. We have exciting plans in store, and we look [...]
A new report claims that Apple is nearing a deal to buy the song identification app, Shazam, which could be on announced on the 13th of December.
One source describes the deal as in the nine figures; another puts it at around £300 million ($401 million). We are still asking around. Notably, though, the numbers we’ve heard are lower than the $1.02 billion (according to PitchBook) post-money valuation the company had in its last funding round, in 2015.
Shazam was founded in 1999 and has long been one of the most popular song identification apps on all platforms. Shazam announced last year that it had reached one billion downloads on smartphones. But, only recently did it [...]
In the smartphone industry, every year sees a new trend becoming the norm. 2017 saw thin bezels becoming a norm and with the launch of the Google Pixel 2 and Apple iPhone X, it appears that AI will be the next big thing in the smartphone industry. With Samsung being the biggest smartphone maker in the world, you’d expect the South Korean tech giant to be one of front-runners in the AI game as well.
A new acquisition by Samsung shows that it wants Bixby to be the new Google Assistant for all its consumers. According to a report, Samsung has just acquired an AI property, Fluenty, a Korean startup notable for its chatbot of the same name.
Founded in 2015, Fluenty [...]
After several reports that Google will take over HTC’s mobile division, Google has just announced a deal with HTC. In a statement released by the search engine giant, Google, the majority of the personnel working in HTC mobile division will now work for Google in a deal worth US$1.1 billion. Moreover, Google will, “receive a non-exclusive license for HTC intellectual property (IP).”
In a statement, Google has said
Google and HTC Corporation today announced a definitive agreement under which certain HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive US$1.1 billion in cash from [...]
HTC has reported a consolidated revenue of USD 99.69 million for the month of August, the Taiwanese giants’ lowest monthly figures in 13 years. The revenue for the month of August represents a 51.5% decline from the previous month and 54.4% from a year earlier. Also, HTC’s total sales in the first 8 months of 2017 were NT$39.86 billion, representing a 14.4% decline from last year. According to latest reports by The Commercial Times, Google is in the final stages of taking over HTC’s mobile division. This would either result in a complete takeover for HTC’s Mobile division or a partial investment from Google into HTC’s dimming business. According to the [...]
Big news for the tech industry, LinkedIn the social network for professionals has been acquired by Microsoft for $196 per share in an all-cash transaction valued at the whopping US $26.2 billion including all of LinkedIn’s current cash holdings.
LinkedIn will retain its distinct brand, culture, and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. The complete takeover will happen by the end of this calendar year.
The LinkedIn team has grown a fantastic business centered on connecting the world’s professionals, Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we [...]
One would imagine that not a lot of strength is left in the once smartphone giant, Nokia. However, that clearly is not the case. The french health company Withings will become a part of Nokia technologies according to reports.
The acquisition will happen over the year for a total cost of US $191 million. The company looks at re-emrging as a consumer favorite brand after major demise and offloading of its smartphone division to Microsoft.
“Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives,” said Ramzi Haidamus, president of Nokia Technologies. [...]
Apple recently bought a Sandiego based Artificial Intelligence start-up called Emotient. The firm was established in 2012 to analyse facial expressions and therefore emotions of viewers, helping the company evaluate their response. Needless to say, this move by Apple comes with its own set of doubts and apprehensions. Tech that detects facial expressions has been a topic of debate and dislike for a while now with Australia being one of the latest places to receive flak for incorporating face-detection tech in its administration. A spokesperson of the company confirmed the acquisition leaving us to wonder what Apple plans to do with it. Apple has been pursuing AI and virtual reality [...]