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Tag: acquisition

  • Nxtdigital board gives in-principle nod for digital, media biz to be acquired by Hinduja Global Solutions

    Nxtdigital board gives in-principle nod for digital, media biz to be acquired by Hinduja Global Solutions

    Mumbai: Nxtdigital Board on Friday accorded in-principle approval for its digital and media businesses comprising broadband, HITS, digital cable television, content syndication & teleshopping to be acquired by Hinduja Global Solutions Limited (HGSL).

    The proposed acquisition is subject to all statutory or regulatory approvals and approval of the shareholders.

    The move is set to fuel and accelerate Nxtdigital Ltd (NDL)’s planned expansion across the digital ecosystem through synergies with HGS’ strength in digital processing and back-end expertise. “NDL will focus on harnessing the best of emerging technologies, whilst expanding its portfolio of digital solutions across geographies,” it said in a statement on Friday.

    The proposed acquisition will include the management team, employees, all businesses and technology across the entire media, communications and broadband spectrum.

    According to the details available, the proposed acquisition will result in shareholders of NDL receiving shares of HGS as per an independent share swap valuation, subject to applicable regulatory approvals.

    The media vertical of the global Hinduja group, Nxtdigital has launched some innovative solutions in the recent past and planned significant expansion in the emerging digital solutions space. “This move will provide much needed synergies, by leveraging the inherent expertise of HGS in the digital back-office and processes space, while allowing the media business to focus on digital expansion. This is also in line with NDL’s vision and mission of being a significant digital platforms company, harnessing the best of emerging technologies, whilst expanding its portfolio of digital solutions across geographies,” it said in a statement.

    The company said it will appoint independent valuers to carry out the valuation exercise and submit the report including share exchange ratio; besides also appointing other key intermediaries to facilitate the proposed move.

  • Mensa Brands acquires leather brand Estalon

    Mensa Brands acquires leather brand Estalon

    Mumbai: Mensa Brands has acquired Kolkata-based leather goods manufacturer and seller – Estalon. The acquisition marks Mensa Brands’ foray into the growing leather goods segment, which holds immense potential in both domestic and international markets.

    With the partnership with Mensa, Estalon is poised to grow at five times of the market, with a focus on both increasing presence in existing markets and expansion to new markets, said the statement. “Mensa will harness the power of data-based insights, digital marketing, and its expertise in enhancing operational efficiencies to turbocharge growth,” it added.

    “We envision Estalon becoming a leading global leather accessories brand from India with its strong product line and quality leather workmanship,” said Mensa Brands founder and CEO Ananth Narayanan. “The Estalon team has decades of experience in leather manufacturing, and we believe that with Mensa’s complementary skills in technology, operations and brand building, it is poised to achieve a high growth rate of 5X of the market in the next 3-5 years,” he added.    

    Estalon has largely been a family-owned business with expertise in leather manufacturing. Currently, Estalon sells majorly in the US through Amazon.

    “Mensa team’s expertise and enthusiasm will help expand our brand’s footprint and achieve the growth goals we have set together,” stated Estalon founder Mohammed Mobashir. “We are focused on better serving existing customers and reaching new customers, by introducing new products, launching on n

    New channels, and fine-tuning the customer experience.”

    Mensa partners with digital-first brands operating in different categories, including fashion and apparel, home and garden, beauty and personal care, food, and others. It recently acquired High Star, a denim brand serving fashion-forward and digital-first consumers.

  • Discovery acquires assets of ad-tech company Zedo

    Discovery acquires assets of ad-tech company Zedo

    Mumbai: Discovery Inc on Wednesday announced that it has acquired the assets, technology and intellectual property of Zedo, an advertising technology company based in both the United States and India.

    The acquisition will bring Zedo’s technology in-house and enable faster innovation across Discovery’s ad solutions. This acquisition brings key ad technology platform capabilities, including a supply-side platform (SSP) and real-time bidding (RTB) capabilities, which enhances Discovery’s global direct-to-consumer (DTC) platforms, improves the consumer experience and drives monetisation, said the media company in a statement. 

    As part of the acquisition, Discovery will also onboard employees of Zedo based in India and the United States, it added.

    “This deal will bring the Discovery and Zedo teams together to enhance the overall consumer ad experience, as well as help push new innovation by integrating Zedo’s capabilities with our global direct-to-consumer platform,” said Discovery Inc executive vice president DTC – global technology Sudheer Sirivara. “We are excited to welcome the Zedo team to the rapidly growing technology presence in our India development center, which is a strategic priority for us to build talent and expertise across the country to help scale globally.”

    “Discovery entered the streaming space with the launch of discovery+ and quickly became an industry leader,” said Zedo co-founder and chief executive officer Roy de Souza. “With the acquisition of Zedo’s assets, Discovery will have its own proprietary real-time bidding (RTB) platform and SSP to sell advertising programmatically. Discovery’s advertisers will soon have one place to buy advertising on a high-quality set of streaming platforms and reach Discovery’s vast global audiences.”

    The Zedo asset acquisition builds on Discovery’s acquisition of AdSparx’s assets in 2020, which brought server-side-ad-insertion (SSAI) capability to Discovery’s global tech platform. The combination of Zedo’s technology with Discovery’s SSAI and global video platform will deliver unparalleled video and ad experiences to our consumers worldwide.

  • Lancer Capital acquires franchise in UAE T20 League

    Lancer Capital acquires franchise in UAE T20 League

    Mumbai: Lancer Capital, a financial institution serving the blockchain industry, has made its first foray into cricket by acquiring a franchise in the UAE League.

    Lancer Capital, headed by English football club Manchester United’s co-chairman Avram Glazer, has investments in a variety of best-in-class assets. He is also the owner of the Super Bowl champion Tampa Bay Buccaneers, said the statement.

    Welcoming Lancer Capital on board, UAE T20 League chairman and Emirates Cricket Board vice-chairman Khalid Al Zarooni said, “To have a partner who has invested into sports properties with a long term investment perspective is a testament to the strength of the UAE T20 League’s business model and its value proposition to its stakeholders and an ode to the UAE as the destination of choice for global sports events.”

    “I am very excited to be a part of UAE T20 at its formation,” stated Lancer Capital LLC chairman Avram Glazer. “UAE T20 promises to be a world-class event that will be transformative to the growth of cricket in the Emirates.”

    “We are extremely pleased that a legendary sports owner like Avie Glazer has chosen to partner with the UAE T20 League,” said Emirates Cricket Board general-secretary Mubashshir Usmani. “Our partnership with Lancer Capital will enable us to combine fans of the two widely followed sports – football and cricket – in a never done before manner.”

  • Believe buys out Think Music to boost South India position

    Believe buys out Think Music to boost South India position

    Mumbai: Digital music company Believe has acquired Think Music, a South India-based music label. With this acquisition, the company wants to further strengthen its position in South India. “The acquisition will help Think Music accelerate the growth and monetisation of its whole catalogue by leveraging Believe’s digital-first approach, back catalogue optimisation know-how, and technological expertise,” Believe said in a statement on Monday.

    The deal will enable Think Music to access Believe’s innovative technologies and expertise to drive video audience development and monetisation short-form video format and leverage Believe’s financial support to expand further its soundtrack acquisition strategy as well, Believe said in a media statement. With the combined subscriber base of both the partners’ YouTube channels, artists will also be able to reach an audience of more than 60 million YouTube subscribers, it added.

    “I am confident that we will work together to accelerate Think Music digital growth and provides artists with shared expertise and innovation,” stated Believe India managing director Vivek Raina on the new development.

    Founded in 2017, Think Music claims to have launched over 40 debut composers including Santhosh Narayanan, Ghibran, and hip-hop Tamizha. The current management team at Think Music led by Swaroop Reddy will continue to operate after the acquisition and focus on building the catalogue under Think Music Label and overseeing the backend integration.

    The acquisition will also expand Believe’s local coverage and as a result, it becomes more organised to help South Indian artists to diversify monetisation sources and grow their audiences at every stage of their career. “Believe’s wide array of innovative, digital-first solutions combined with think Music’s relentless focus on providing the best platform to film, non-film and independent artists soundtracks, will create significant value for all stakeholders,” said Think Music founder Swaroop Reddy.

  • Netflix to acquire virtual production studio Scanline VFX

    Netflix to acquire virtual production studio Scanline VFX

    Mumbai: Netflix has announced its plans to acquire virtual production studio Scanline VFX. The company is responsible for the visual effects in Netflix series like “Cowboy Bebop,” “Stranger Things,” and “Blood Red Sky.”

    The company expects to complete the acquisition by the end of first quarter 2022 subject to regulatory approvals. 

    Founded in 1989, Scanline is led by Stephan Trojansky, a VFX supervisor whose proprietary fluid rendering system ‘Flowline’ won an Academy Award for Technical Achievement in 2008. The company has offices in Vancouver, Montreal, Los Angeles, London, Munich, Stuttgart, and Seoul.

    The company is working on VFX effects for upcoming Netflix content including “Don’t Look Up,” “The Gray Man,” “Slumberland,” “The Adam Project,” and “Stranger Things 4.”

    “Netflix will invest in Scanline’s pipeline, infrastructure and workforce and continue to support the pioneering work that Scanline’s Eyeline Studios is doing in virtual production to push the boundaries of what is visibly possible,” said Netflix vice president of studio operations Amy Reinhard.

    Apart from Netflix content, Scanline has done ground-breaking work on series like “Game of Thrones” to films like “Godzilla vs Kong” and “Zack Snyder’s Justice League.” “Going forward, the company will continue to operate as a standalone business and work with their variety of clients,” said Reinhard.

    Netflix will continue to rely on other VFX studios around the world “to ensure that our creators have access to the world’s most innovative tech,” said Reinhard.

  • Good Glamm Group acquires ScoopWhoop, signals foray into men’s grooming space

    Good Glamm Group acquires ScoopWhoop, signals foray into men’s grooming space

    Mumbai: GoodGlamm Group, the parent company of direct-to-consumer (D2C) beauty and personal care brand MyGlamm, has acquired the new-age digital media platform ScoopWhoop Media. This is the second acquisition by the company in less than a month and the fourth big buyout for the group after The Moms Co, BabyChakra, and content and commerce platform POPxo, which it acquired last year.

    With the ScoopWhoop takeover, the company now intends to build its venture into the men’s grooming category.

    “I have been an ardent user and fan of ScoopWhoop for a long time. It’s a privilege to have Sattvik, Rishi, Sriparna join the Good Glamm Group family and have ScoopWhoop accelerate the Group’s foray into building a content-to-commerce platform for the burgeoning male grooming and personal care segment,” commented Good Glamm group founder and CEO Darpan Sanghvi.

    Founded in 2013 by Sattvik Mishra, Rishi Pratim Mukherjee, and Sriparna Tikekar, ScoopWhoop has over 1.5 billion impressions every month and over 100 million users, the company said.

    Based in New Delhi, the media outlet will continue to work as an independent brand and media house within the Good Glamm Group. Its founders will continue to lead ScoopWhoop and work closely with Sanghvi and the other co-founders of Good Glamm Group, Priyanka Gill and Naiyya Saggi, said the statement.

    The D2C brand MyGlamm had introduced The Good Glamm Group in September to consolidate all its businesses under one umbrella and announced its plans to acquire six brands in the beauty and personal care space before March. 

    “The acquisition of ScoopWhoop, which has a male audience of over 60 per cent, will pave the way for entry into content-to-commerce for the fast-growing male segment. Good Glamm Group’s commerce stack coupled with ScoopWhoop’s content capabilities and digital reach amongst men will turbocharge the group’s D2C capabilities in the male grooming segment,” the company said in a press statement.

    “The company is looking to invest Rs 500 crore over the next two years in the male grooming space and are in talks with a few brands in the segment to acquire them,” it further added.

    The company had acquired baby and mother products brand The Moms Co for Rs 500 crore earlier this month. It is also the group’s second acquisition in the content space after the women-centric content platform POPxo. 

  • Netflix acquires video game creator Night School Studio

    Netflix acquires video game creator Night School Studio

    Mumbai: Netflix has made its first big move in expanding its gaming portfolio with the acquisition of Night School Studio. The company has also launched a trio of casual mobile games in select European markets, according to a report by TechCrunch.

    “We’ll continue working with developers around the world and hiring the best talent in the industry to deliver a great collection of exclusive games designed for every kind of gamer and any level of play,” noted Netflix vice president – game development Mike Verdu. “Like our shows and films, these games will all be included as part of your Netflix membership — all with no ads and no in-app purchases.”

    Founded by Sean Krankel and Adam Hines in 2014, video game creator Night School Studio is best known for its critically acclaimed debut game “Oxenfree.”

    “Netflix gives film, TV, and now game makers an unprecedented canvas to create and deliver excellent entertainment to millions of people,” said Night School Studio’s Krankel. “Our explorations in narrative gameplay and Netflix’s track record of supporting diverse storytellers was such a natural pairing. It felt like both teams came to this conclusion instinctively.”

    Netflix has mentioned its plans to enter the gaming industry amidst intense competition in the streaming business with competitors gaining subscribers rapidly. Netflix launched its first gaming title based on the “Stranger Things” franchise in Poland. These titles became available via a ‘Games’ tab within the Netflix app to subscribers.  

    The company launched three casual games including “Shooting Hoops,” “Teeter Up” and “Card Blast” to Netflix members in Italy and Spain. Subscribers from Spain and Italy will gain access to these trio of gaming and the two existing “Stranger Things” titles that have already been released.

    Netflix plans to launch games in other markets including the US in the near future. It began with Poland as an initial test market because the country has an active mobile gaming audience that made it a good fit for early feedback.

  • Netflix acquires Roald Dahl Story Company

    Netflix acquires Roald Dahl Story Company

    Mumbai: Netflix has acquired the Roald Dahl Story Company (RDSC) in what is believed to be one of its largest deals recently.

    The acquisition builds on the partnership the two companies started three years ago to create a slate of animated TG series, including a series based on the world of  “Charlie and the Chocolate Factory” from the Academy Award-winning filmmaker Taika Waititi and Academy Award nominee Phil Johnston.

    Additionally, Netflix is also working with Sony and Working Title on an adaptation of “Matilda The Musical.”

    “These projects opened our eyes to a much more ambitious venture – the creation of a unique universe across animated and live-action films and TV, publishing, games, immersive experiences, live theatre, consumer products and more,” said Netflix co-chief executive officer and chief content officer Ted Sarandos and RDSC managing director and Roald Dahl’s grandson Luke Kelly.

    “As we bring these timeless tales to more audiences in new formats, we are committed to maintaining their unique spirit and their universal themes of surprise and kindness, while also sprinkling some fresh magic into the mix,” they added.

    Roald Dahl’s books have been translated into 63 languages and sold more than 300 million copies worldwide, with characters like Matilda, The BFG, Fantastic Mr Fox, Willy Wonka, and The Twits delighting generations of children and adults.

  • Donear Group acquires Mayur brand & PV Suiting global distribution network

    Donear Group acquires Mayur brand & PV Suiting global distribution network

    Mumbai: Textile and apparel maker and creator Donear Group has announced the acquisition of Mayur Fabrics and PV Suiting Global distribution network from RSWM Ltd to solidify the company’s product basket and geographical footprint. 

    Donear Group has enforced a consistent growth policy since 2017, with two world-famous textile brands GRADO & OCM already gathered under the portfolio. Having a presence in over thirty countries, the company boasts its third acquisition in a short span of three years, hence strengthening its conglomerate status with an extensive distribution and retail network.

    Commenting on this new acquisition, Donear Group’s director, Rahul Rajendra Agarwal said, “It is very exciting and at the same time inspirational for us to focus on our own businesses – Yarn and Fabrics respectively. We find ourselves committed to construct further on Mayur brand and make it an integral brand of the Donear group and strive to take it to the next level of success. Substantiating our mission of standing tall as a textile and apparel global conglomerate, we aim to grow from strength to strength with Mayur and PV Suiting Distribution Network on our side. This highly scalable and sustainable infusion will serve as our next giant growth engine to further enrich our portfolio and expand the market share of branded fabrics offering.”

    Donear Group, promoter & managing director, Rajendra Agarwal stated, “Sabka Saath, Sabka Vikas is not just a slogan for us, it is a way of life at Donear. We have given ourselves a vision of sustained growth and we are working towards it as a team and as a family. I have had the opportunity to interact with LNJ family since I started the business.  I too very happy to hand over this business to Donear Group.”

    Touted to be ‘Mayur – Stars ki Pasand’ a household name for trend-conscious buyers offers classic fabrics at an affordable price. The collection is used by some of the world’s leading fashion brands, including Kenneth Cole, Marks & Spencer, Perry Ellis, Ann Taylor and H&M to name a few. Moreover, PV Suiting distribution network from RSWM’s presence in overseas markets will help expand the proportionate market share of Donear as a group, said the company in a statement.

    PV Suiting distribution network from RSWM has achieved long strides in the UK and the Middle East which will serve as catalysts for the group to have a strong foothold in these regions.

    Donear Group, executive director, Ajay Agarwal said, “Having Mayur Fabrics and PV Suiting distribution network, will project us as a textile and apparel titan, empowering our clientele as well as retailers’ network. The addition of Mayur and PV Suiting distribution network is driven by our desire to expand our business both PAN India as well as in global markets. After Mayur’s infusion in our group, we are expecting enhancements in the existing distribution chain and market value of our conglomerate.”

    RSWM Ltd, joint managing director/ CEO, Riju Jhunjhunwala affirmed, “We could not have found a better organisation than Donear to pass on our legacy to. I have seen the way Donear has taken over other brands, the way Donear has cultivated and helped prosper other brands in the past. I am telling you from the bottom of my heart, that no one would be happier than me to see Mayur Brand growing, prospering and flourishing under Donear group, our distribution network widening with time and employees at Mayur prospering in their careers with the inspiration and support of the Group.”

    The textile-focused Donear Group continues to scout for larger addressable markets with additional product categories. The terms of the transaction will be disclosed at the appropriate forums through wider communication to all stakeholders, said the statement.