#Dealwire is your dose of notable M&A and partnership deals in business and technology space. Firms covered in this segment include Soft Bank, ARM, MobiBing, Cashify, NewFloats, Titan, Caratlane and LookUp
SoftBank Acquires ARM for $31.4B
SoftBank Group Corp. (SBG) would be acquiring ARM for approximately $31.4 billion in an all cash transaction. ARM will remain an independent business within SoftBank, and continue to be headquartered in Cambridge, UK.
ARM is one of the world’s leading technology companies, with strong capabilities in global semiconductor intellectual property (IP) and the Internet of Things. Read More
Bangalore Based MobiBing Gets Acquired By Cashify
Cashify, a re-commerce company engaged in the selling of old gadgets online, has acquired Bangalore-based MobiBing. MobiBing was launched in July 2015 by Sibgathulla Zeeshan and Nadeem Bari Mohammed with an aim to build a B2C responsive marketplace to buy, sell overstock, refurbished and un-boxed gadgets.
Post acquisition, Nadeem Bari will be shifting to Germany to pursue his own consultancy work while the rest of team will be joining Cashify’s Bangalore office. Cashify is backed by investment firm including Bessemer Venture Partners, Blume Ventures, and M&S Partners. Read More
NowFloats Acquires Chat Based Platform LookUp
Bengaluru-based chat commerce platform LookUp has been acquired by NowFloats, a firm which creates websites on the fly for small and medium-sized enterprises (SMEs). LookUp’s core team will be joining NowFloats team next week.
LookUp had raised about $3 million from investors like Khosla Impact and Catamaran Ventures. It is a chat-based commerce platform, essentially enabling users to discover and reach out to merchants in their vicinity. Read More
Titan Buys 62% Stake in Caratlane
Titan Company, part of the salt-to steel conglomerate Tata Group, is investing Rs 357 crore for a 62% stake in online jewellery retailer Caratlane.
Caratlane, which had earlier raised Series D funding of Rs 185 crore from Tiger Global, started its business in 2007, selling jewels online and later went on to offer an omni-channel approach. Read More
Image Credit: technewstodayCategory Business News