Dealwire is a quick summary of notable M&A and partnership deals in business and technology space.
Ixigo Acqui-hires Content Sharing App Reach
Travel search engine Ixigo has acqui-hired mobile content sharing app Reach. The financial details of the deal have not been disclosed. Reach was founded by Akshay Pruthi, Abhay Pruthi, Ashish Kumar and Ayush Verma in March 2015. The team would help Ixigo in enhancing its existing products. It had started as a P2P file sharing app, and had raised $500,000 from Rebright Partners in March 2016. Ixigo was founded in 2007 by Bajpai and Rajnish Kumar.
Fashion Marketplace Coutloot Acquires Competitor Once Again Store
Pre-owned fashion marketplace, Coutloot, has acquired its competitor, Once Again Store, in an all stock deal. Coutloot was founded in November 2015 by Jasmeet Thind, Mahima Kaul, Sahil Khimavat and Vinit Jain, and claims to make about 200 sales a day. Whereas Once Again Store, was founded in February 2015 by Umang Chordia and Nikita Agarwal, and it clocks 50 orders per day.
Housing & PropTiger Merge in an All Stock Deal
Realty portals Housing.com and PropTiger are coming together as a combined entity in an all stock deal. The merged entity would be headed by PropTiger’s CEO Dhruv Agarwala. The new firm has also raised $55 million in fresh investment from REA Group and Softbank.
GolfLAN Buys its Singapore-Based Competitor GolfGreedy
Golf inventory aggregation platform, GolfLAN, has acquired Singapore-based competitor GolfGreedy. The deal was made in cash and stock. YourNest-backed GolfLAN has 1,200 courses across 40 countries on the platform, and is valued at about $12 million post the deal is closed.
Logistics Firm Stellar Value Chain Acquires Kelvin Cold Chain
Third-party logistics firm Stellar Value Chain has acquired a majority stake in Mumbai-based frozen food logistics firm Kelvin Cold Chain Logistics. The financial details of the deal remain undisclosed. Stellar was founded in July 2016, and had raised $125 million from Warburg Pincus in the following month. Kelvin offers integrated logistics solutions, including city distribution and warehousing.
Everstone Capital to Acquire Majority Stake in Kailash Logistics for Rs 200Cr
PE investor Everstone Capital is acquiring a majority stake in supply chain solutions firm Kailash Logistics for Rs 200 crore. The firm operates an integrated logistics park ‘Sri Kailash’s Logicity’, spread across 84 acres and 13 lakh sq ft of warehouse and industrial space. Everstone is channeling the deal through its logistics and warehousing unit IndoSpace.
Fitbit Acquires Wearable Startup Vector Watch
Fitness wearable maker, Fitbit, has acquired smartwatch maker ‘Vector Watch’, for an undisclosed amount. Both the team and the teschnlogy assets would be integrated into Fitbit. The firm was founded by Andrei Pitis and Dan Tudose in 2013.
Atlassian Acquires Trello for $425M
Enterprise products maker Atlassian has bought task management and productivity app company Trello, in a cash plus stock deal worth $425 million. Following the acquisition, Trello’s entire team of almost 100 people will join Atlassian. New York based Trello was founded in 2011, and will continue to operate as is.
Amazon Acquires Cyber Security Firm Harvest.ai
In a bid to improve the security of Amazon Web Services, Amazon has reportedly scooped up AI driven cyber security startup, Harvest.ai for $19 million. Harvest.ai is a San Diego, California based firm that was founded in 2014, that uses machine learning and artificial intelligence to stop targeted attacks before valuable customer data can be swiped from a company’s database.
Freshdesk Buys Data Integration Firm PipeMonk
Freshdesk has bought cloud-based data integration platform, Pipemonk. The amount of the deal remains undisclosed. Pipemonk was founded in 2014 by Satya Padmanabhan and Ravi Madabhushi, it claims to have over 400 clients globally.