Business, News

#DealWire: Intel Acquires Itseez to Expand its IOT Market & More

intel#Dealwire is your dose of notable M&A and partnership deals in business and technology space. Firms covered in this segment include Intel, AWS, Salesforce, & Edcast

Intel Acquires Itseez to Expand its IOT & Automotive Electronics Market

In a new bid, Intel has acquired computer vision startup Itseez for an undisclosed amount. This acquisition is strategically aimed at Intel expanding in the IOT sector and automotive electronics market.

Doug Davis, senior vice president of the Internet of Things group at the world’s biggest chip maker, said “Intel is transforming from a PC company to a company that powers the cloud and billions of smart, connected computing devices. These devices will use the power of Intel technology to process data being generated from ‘things,’ connect to and learn from data being analyzed in the cloud, and deliver amazing new experiences.”

Intel is gearing up for is self-driving cars. Davis noted that Americans spend some 75 billion hours a year driving. Morgan Stanley estimates that self-driving vehicles could deliver $507 billion in annual productivity gains. Read More

AWS Inks $400M Deal With Salesforce, Later To Expand its Services Globally

Amazon’s AWS cloud division announced signing a deal with Salesforce to expand its services globally. “We are excited to expand our strategic relationship with Amazon as our preferred public cloud infrastructure provider,” Marc Benioff, chairman and CEO, Salesforce, said in a statement.

The four-year deal appears to be valued at $400 million, based on a Salesforce filings with the SEC about a deal with an unnamed infrastructure services company. Read More

eBay Acquires Online Ticket Booking Portal Ticketbis for $165M

As eBay continues to expand its marketplace for goods, the company is also investing in other sectors. On Tuesday, the company announced that it has acquired Ticketbis, an online ticket marketplace, which it plans to roll into StubHub, its own ticket company. This acquisition will help the company expand in Europe, Latin America and Asia Pacific. Though the terms of the deal have not been disclosed but according to media reports it was a $165 million transaction and is expected to close mid-2016. Read More

EdCast Acquires Sales-University, to Acquire More Startups in Healthcare & Hospitality Industry

EdCast Inc, online learning portal, has acquired Sales-University (formerly known as WAGmob), sales training app maker. The acquisition was aimed to expand its enterprise learning to sales organisations. EdCast recently raised $16 million of financing in a round led by GE Asset Management, with participation from SoftBank Capital, Cervin Ventures, Standford StartX Fund and Peneta Global.

Karl Mehta, founder of Edcast said, “Besides healthcare, we will look at the hospitality sector as well as online retail for acquisitions.” Read More

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