Business, News

#Dealwire: Aditya Birla Fashion Acquires Forever 21 India for $26M & More


#Dealwire is your dose of notable M&A and partnership deals in business and technology space. Firms covered in this segment include Aditya Birla Fashion, Forever 21, 1Mg, Medd, MPS, Magplus and QuickEdmin

Aditya Birla Fashion Acquires Forever 21 in India for $26 million

After launching and heavily promoting its online retail venture Abof, Aditya Birla Fashion has now acquired international fashion brand Forever 21 in India. Diana Retail, the franchisee of Forever 21 brand in India has revealed the deal amount to be $26 million.

The deal involves only business transfer and not equity transfer. The acquisition will help Aditya Birla Group to strengthen its retail ventures in both offline and online sectors. Read More

Education Tech Platform QuickEdmin Has Been Acquired By Ray Business

Information technology (IT) services provider Ray Business Technologies Pvt. Ltd has bought QuickEdmin from software development firm LastMile IT Systems Pvt. Ltd for an undisclosed sum.

QuickEdmin is a cloud-based enterprise resource planning (ERP) tool which allows educational institutions to manage all back-office operations. The deal will improve Ray Business’s competency in the education technology sector, boost its presence in the US and Australia, and help the company enter India. Read More

1mg has Acquired

Bangalore-based 1mg, Healthkart’s online drug search business, has acquired, an Indore-based platform for booking diagnostic and imaging tests, Deal size and structure is not disclosed by 1mg. Medd was launched in May 2015. It initially began with its app-only pilot in Indore,It aims to provide patients not only with information on certified diagnostic labs, but also make them aware of the options for choosing and comparing rates. Read More

MPS Acquires Digital Platform Magplus

Indian publishing services company MPS Ltd has acquired Sweden- and US-based Magplus, a digital platform that creates and distributes content to mobile apps, for an undisclosed amount.

Magplus was a part of Bonnier Growth Media, the venture arm of Swedish media group Bonnier AB. It provides tools to create and deliver designed touchscreen-native documents, news items, real-time notifications .MPS, formerly Macmillan India Ltd, provides content creation, production and technology services to academic and educational publishers in India, Europe and the US. Read More

Image Credit: 3dprin

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