#Dealwire is your dose of notable M&A and partnership deals in business and technology space. Firms covered in this segment include Shopclues, Momoe, Yatra, Terrapin 3, AppPoint, HireCampus,GirnarSoft and Valueserve.
Shopclues Acquires Payment Startup Momoe
eCommerce marketplace Shopclues has acquired online payments solution company Momoe. While the deal amount hasn’t been disclosed, as per an earlier report in March 2016, the discussions were around a cash + stock acquisition for $10-12 million.
Bangalore based startup had raised $1.2 million in seed round from IDG Ventures India, Jungle Ventures and India Quotient in February 2015. It was founded by Utkarsh Biradar, Karthik Vaidyanathan, Ganesh Balakrishnan, Neelesh Bam and Aiman Ashraf Read More
Yatra to Merge with NASDAQ Listed Terrapin 3
India based Yatra has agreed to get acquired by US Based Terrapin 3 Acquisition Corp. The travel portal has entered into a reverse merger deal with an enterprise value of $218 million, through which it will start trading on NASDAQ.
A reverse merger is the acquisition of a public company by a private company so that the latter can quicken the process of going public. The merge entity in this deal would be led by Yatra’s management & CEO Dhruv Shringi. Read More
Bangalore-Based AppPoint Acquires US Based SaaS Firm HireCampus
Bangalore-based AppPoint has acquired US based campus recruitment firm, HireCampus. The latter offers a cloud based solution to enterprises for managing their hiring processes.
AppPoint itself creates enterprise solutions for building SaaS platforms & business management softwares. It was founded in 2005 by Venki Muthanna, Rajasekar Shanmugam, Saravanan Kailasam and Chandrashekar Prabhakar. Read More
GirnarSoft Acquires Valueserve Management Consultants
GirnarSoft has acqui-hired management consulting firm Valueserve in an all cash deal. GirnarSoft is an IT development company, which also operates several India based online portals such as Cardekho, Pricedekho etc.
The acquisition will help Girnarsoft to expand its services to the public sector by providing consulting and management solutions for e-governance etc. Read More
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