#Dealwire is your quick dose of notable M&A activity in the technology ecosystem. Firms covered in this segment include Ubiquity, Solutions Infini, Lendingkart, KountMoney, Freshdesk, Chatimity, vMobo, Binge, MakeMyTrip and Ibibo Group.
Italian Firm Ubiquity Buys Bangalore-Based Solutions Infini
With an aim to tap into emerging markets like India, Italian mobile services provider, Ubiquity, has acquired a 51% majority stake in Bengaluru-based Solutions Infini, a enterprise communication and cloud telephony services firm. The financial details of the deal haven’t been announced.
Ubiquity aims to make more strategic tie ups in the mobile & telecom sector in India. Solutions Infini was founded in 2009 by Aniketh Jain; Ashish Agarwal; Mohammad Faraz; Vinay Jain and Shivam Prasad. Read More
Lendingkart Acquihires Loans Marketplace KountMoney
Ahmedabad-based Lendingkart, that offers loans for small businesses, has acqui-hired online lending marketplace for personal loans, KountMoney. Bangalore-based Kountmoney was founded in September 2015 by Deepak Modak, Gaurav Somani, Abhi Ranjan and Abhishek Periwal.
Freshdesk Buys AI Startup Chatimity
Cloud-based customer support software maker, Freshdesk, has acquired AI based chatbots maker – Chatimity. The financial details of the deal haven’t been disclosed.
Bangalore-based Chatimity was founded in 2011 by Tarkeshwar Thakur and Aravind Murthy. It has built bots to facilitate conversational commerce to help websites drive engagement. Read More
California-Based vMobo Acquires Bangalore-Based Binge for $3.5M
California-based marketing firm vMobo has acquired Bangalore-based fintech startup Binge at a valuation of $3.5 million. The acquisition was coupled with a merger with Mumbai-based styling startup Dapper Don. The merged entity launched a network marketplace of about 120 brands, called VClusive.
Binge operated as a mobile wallet aggregator app for restaurant bill payments. It was founded by Ajay Joseph, Santosh Martin, Christopher Lopez, and Shankar Sukurutraj in August 2014. Read More
MakeMyTrip & Ibibo Group Consolidate Travel Businesses
NASDAQ-listed online travel firm MakeMyTrip (MMYT) and Naspers-owned Ibibo Group are merging the two travel businesses under MMYT. The all stock deal worth $720 million would observe Ibibo’s stakeholders getting freshly issued stocks in MMYT. The combined entity is worth $1.8 billion, making it the biggest firm in Indian online travel industry. Read More