Axis Bank said it will acquire over 5 per cent stake in fintech platform CredAble for Rs 55 crore and the deal is expected to be completed by September. The bank will acquire 8,921 equity shares, equivalent to 5.09 per...
CCI approves RIL arm’s acquisition of 50.1% stake in Sanmina-SCI India
The Competition Commission of India (CCI) on Tuesday granted its approval for the acquisition of a 50.1 per cent stake of Sanmina-SCI India (SCIPL) by Reliance Strategic Business Ventures (RSBVL). The latter is a...
US begins court battle against Penguin Random House’s merger with rival
The government and publishing titan Penguin Random House exchanged opening salvos in a federal antitrust trial Monday as the US seeks to block the biggest US book publisher from absorbing rival Simon & Schuster. The...
Will never merge: Ola CEO rubbishes reports of merger talks with Uber
Ola founder and CEO Bhavish Aggarwal has rubbished reports in a section of media about the company being in talks with Uber for a possible merger. Bhavish Aggarwal said in a tweet that Ola is very profitable and growing...
PhonePe reaches settlement with Affle Global to acquire Indus OS
Digital payments firm PhonePe said it has completed the acquisition of Indus OS after reaching an out-of-court settlement with Affle Global Pte Ltd (AGPL), the majority owner of the India-made content and app discovery...
IDBI Bank sale: Clarity on sale glide path for buyers after EoI stage
The after-acquisition sale glide path for bidders looking to buy the Centre’s and Life Insurance Corporation (LIC) of India’s stake in IDBI Bank may be communicated to interested buyers after floating expressions of...
Travel technology firm Spotnana raises $75 mn in Series B funding round
Spotnana, a cloud-based travel technology platform, has raised $75 million in a funding round led by Durable Capital Partners LP, with participation from existing investors Madrona Venture Group, Blank Ventures, ICONIQ...
SBI receives board’s approval to raise up to Rs 11,000 crore
State Bank of India (SBI) received the board’s approval to raise up to Rs 11,000 crore through the issuance of bonds. The bank’s central board, at its meeting held on Wednesday, approved raising capital by...
Shiprocket buys Arvind’s omnichannel unit in Rs 200 cr stock-and-cash deal
Logistics startup Shiprocket said it is acquiring textile and branded apparel conglomerate Arvind Limited’s omnichannel technology business Omuni for Rs 200 crore. The stock-and-cash deal will see Shiprocket and...
Welcome to PlayStation family: Sony completes $3.6 bn acquisition of Bungie
Japanese giant Sony has closed the $3.6 billion acquisition of Bungie, the developer of Destiny and the original creator of the hugely popular Halo franchise. “The agreement to acquire Bungie has closed. So now we...
Ronnie Screwvala-led upGrad eyeing acquisitions in the US, Southeast Asia
Ronnie Screwvala-led edtech unicorn upGrad has initiated a M&A (mergers and acquisitions) strategy in negotiations to acquire various companies in markets such as the US and Southeast Asia for expansion in those...
Adani, Ambani are driving force of India’s M&A activity, says Barclays
Billionaires Gautam Adani and Mukesh Ambani will continue to drive mergers and acquisitions in India as the country’s richest people are hunting for targets to diversify their businesses, according to Barclays Plc...
