Business, News

#DealWire: Twitter Acquires AI Startup Magic Pony & More


#Dealwire is your dose of notable M&A and partnership deals in business and technology space. Firms covered in this segment include Microsoft, Wand labs, Yatra, mGaadi, Samsung, Joylent, Twitter and Magic Pony. 

Twitter Acquires AI Startup Magic Pony

Twitter has bought London-based AI startup Magic Pony Technology for a reported $150 million as the company moves to strengthen its position in image-sharing, video and live video. Founded in 2014, Magic Pony uses machine learning to build improved systems for visual processing.

Twitter will use Magic Pony’s technology to enhance live and video offerings. Magic pony’s team included 11 PhDs with expertise across computer vision, machine learning, high-performance computing and computational neuroscience. Read More

Yatra Acquires Auto Rickshaw Hailing App mGaadi

Yatra has acquired auto rickshaw aggregator mGaadi. Although the terms of the deal were not disclosed, mGaadi stated that its products Cartr and related mGaadi technologies will be integrated into Yatra’s products as part of the agreement.

mGaadi is a Bangalore-based commuting service founded in 2012. Users can request mGaadi autos through its Android, iOS and Windows Phone apps or Read More

Microsoft Acquires Wand Labs

Microsoft has acquired California-based Wand Labs, a startup which builds messaging technology for apps, founded in 2013 by IIT-Delhi alumnus Vishal Sharma. The terms of the acquisition were not made public. Labs technology and talent would strengthen Microsoft’s position in the emerging era of conversational intelligence.

The acquisition builds on and extends the power of the Microsoft’s search engine Bing, its cloud computing platform Azure, Office 365 and Windows platforms to empower developers everywhere. Read More

Samsung Acquires Joylent Inc

Samsung Electronics has agreed to buy U.S. cloud service startup Joylent Inc. to boost its software and internet services. The acquisition will enable Samsung to access its own cloud platform to run its internet-based services, apart from renting other companies’ data centers. Read More

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