#Dealwire is your dose of notable M&A announcements in the technology ecosystem. The firms included in this segment include Ranstad, Monster.com, Walmart, Jet, Niramaya Pathlabs, Labstreet, Intel and Nervana Systems.
Dutch Firm to Acquire Monster.com in a $429M Deal
Amsterdam-based global HR consultancy firm, Ranstad, is acquiring job hunting portal Monster.com in an all cash deal worth $429 million.
Monster was founded in 1999, and had soon gone public after its inception. The company had even hit a valuation of $8 billion during the dot com boom.
The deal will see consolidation of complementary services offered by the two firms, Monster will however continue to retain its brand and operations. Read More
Wal-Mart to Acquire 2 Year Old Jet.com for $3.3B in Cash and Stock
In order to together combat Amazon, Walmart is acquiring eCommerce firm Jet.com in a deal worth $3.3 billion. The split of the transaction involves $3 billion in cash and $300 million of Wal-Mart shares. The deal is expected to close by the end of 2016.
Jet.com was founded in 2014 by Marc Lore, and had raised $140 million in investment before its launch in 2015. It claims to be adding 400,000 shoppers on a monthly basis. Its revenues & profitability hasn’t been shared by either of the firms.
Wal-Mart has been struggling to compete with Amazon in the online space. Its eCommerce sales in 2015, were almost $14 billion i.e. 3% of its total $482 billion annual revenue. Whereas Amazon’s total sales were $107 billion in the same time period. Read More
Niramaya Path Labs Acquires Labstreet
NCR-based pathology and wellness service provider Niramaya Path Labs has acquired online diagnostics booking startup Labstreet in a cash and stock deal.
Gurgaon based Labstreet was founded in 2015 by Lalit Mittal and Ujjwal Chaudhry. Post the acquisition most of Labstreet’s team, apart from the promoters, would be joining Niramaya. The two firms will continue to function independently. Read More
Intel to Buy Deep Learning Startup Nervana Systems
Intel is acquiring deep learning startup Nervana Systems in a deal reportedly worth $408 million. Founded in 2014 by Naveen Rao, the company had raised $25 million till date.
The global chipmaker believes that machine learning would be a much bigger play than focussing on cloud computing. Intel Vice President Jason Waxman says “I firmly believe this is not only the next wave but something that will dwarf the last wave.” Read More