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Chinese Group Alipay Said to Have Sold 3.4 Percent Stake in Zomato
Chinese payments group Alipay plans to sell its 3.4 percent stake in Indian food delivery giant Zomato for nearly $400 million (nearly Rs. 3,333 crore) through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44 percent stake in the...
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Adobe, Figma $20 Billion Deal to Face Full-Scale EU Antitrust Probe After Preliminary Review
Adobe's $20 billion (roughly Rs. 1,63,400 crore) bid for cloud-based designer platform Figma will reportedly face a full-scale EU antitrust investigation following EU regulators' preliminary review. The move underscores antitrust watchdogs' wariness of tech deals where bigger companies may acquire rival start-ups to shut them down.
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Infosys Inks AI Deal With Estimated $2 Billion Target Spend Over Five Years: Details
Infosys has inked a five-year deal with an existing client with a target spend of $2 billion (roughly Rs. 16,400 crore) for artificial intelligence and automation services, the IT services firm said in an exchange filing. According to Infosys, the agreement includes AI and automation development, modernization, and maintenance.
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UK to Ban Cold Calling for Crypto, Insurance Deals to Zero Down on Fraud Activities Draining Billions
UK may soon stop merchants from cold calling their potential customers. The decision is nudged by the rising numbers of financial fraud cases in the nation. UK’s National Crime Agency (NCA) has estimated that the nationals there could be losing up to GBP 7 billion (roughly Rs. 71,648 crore) annually to these telecom-powered financial frauds.
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FTX Agrees to Sell LedgerX for $50 Million, to Seek Bankruptcy Court Approval on May 4
FTX on Tuesday announced that it had reached an agreement to sell LedgerX, the bankrupt crypto exchange's crypto derivatives platform to an affiliate of Miami International Holdings. The crypto firm will seek approval for the sale of its platform in a deal worth $50 million (roughly Rs. 400 crore) in a US bankruptcy court on May 4.
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Google Said to Have Invested $400 Million in OpenAI's ChatGPT Rival Anthropic
Google is said to have invested almost $400 million (roughly Rs. 3,299 crore) in artificial intelligence startup Anthropic, which is testing a rival to OpenAI’s ChatGPT. Google and Anthropic separately announced a partnership in which Anthropic will use Google’s cloud computing services.
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Microsoft Said to Have Offered No Remedies in EU Antitrust Review of Activision Deal
Microsoft's has not offered any remedies to EU antitrust regulators reviewing its proposed $69 billion (nearly Rs. 5,71,400 crore) bid for Call of Duty maker Activision Blizzard ahead of an expected full-scale EU probe, a person familiar with the matter said on Monday. The US software company is betting on the acquisition to help it compete bett...
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Twitter Confirms Intent to Close Elon Musk's Takeover Offer at Original Price
Twitter said on Tuesday that Tesla CEO Elon Musk had sent the company a letter that he intended to complete the takeover agreed upon earlier this year, seeking to acquire the platform for $44 billion (roughly Rs. 3,58,300 crore). The microblogging service announced via a tweet that it intends to close the offer at the original price of $54.20 (roug...
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PayU India Receives CCI Approval for 100 Percent Acquisition of BillDesk
PayU India payments has received the Competition Commission of India (CCI) approval for the acquisition of 100 percent equity of indiaideas.com (BillDesk). The announcement for acquiring digital payments provider BillDesk at $4.7 billion (about Rs 34,400 crore) initially came from Prosus NV-backed PayU in August last year.
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eToro Acquires Options Trading Platform Gatsby in $50 Million Deal as Part of US Expansion Plan
eToro, the Israeli online brokering platform, has acquired options trading platform Gatsby in a bid to expand its presence and services in the US. The deal was finalised for $50 million (roughly Rs. 400 crore) in cash and common stock. As part of the deal, the Gatsby team will be subsumed within the eToro brand in the coming days.
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Facebook Owner Meta-Giphy Deal Block Quashed by UK Tribunal, Asks Regulator to Reconsider Filing
Britain's competition regulator said on Monday it would carry out another review of Facebook owner Meta's acquisition of Giphy after a tribunal quashed its original decision to block it. Recently, the US tech giant partially won an appeal against the regulator.
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Elon Musk’s Startups Could Be Silver Lining for Bankers Burned by Twitter Deal
Investment bankers that stand to lose fees from Tesla CEO Elon Musk abandoning the $44 billion (roughly Rs. 3,52,400 crore) acquisition of Twitter, are looking to Musk’s privately held start-ups — SpaceX, Neuralink and The Boring Company — to make up for the lost business. The bankers also expressed interest in roles in any initial public off...
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Twitter Shares Slide About 6 Percent as Elon Musk’s Suspended Deal Reaches Legal Tussle
Twitter shares fell about 6 percent on Monday as a legal tussle between Elon Musk and the social media company is expected to take place soon. Musk, CEO of Tesla and SpaceX, walked away from the $44 billion (roughly Rs. 3,49,400 crore) deal on Friday. Twitter is said to be planning to sue Musk by this week and force him to complete the acquisitio...
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Elon Musk Takes Swipe at Twitter’s Lawsuit Threat, Suggests Bot Information Will Be Disclosed in Court
Elon Musk has reacted to Twitter’s threat to sue to the Tesla and SpaceX CEO over the attempt to terminate the $44 billion (roughly Rs. 3,49,400 crore) deal. On Sunday, Musk shared a collage of four images of him with different expressions, followed by four comments about his deal to acquire the microblogging service. Musk said that while Twitter...
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FTX US Has Agreed to Acquire Crypto Lender BlockFi for Up to $240 Million
BlockFi CEO Zac Prince said his company has signed a deal giving FTX the option to buy the crypto lender for up to $240 million (roughly Rs. 1,895 crore) as part of a credit financing agreement.
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Chinese Group Alipay Said to Have Sold 3.4 Percent Stake in Zomato
Chinese payments group Alipay plans to sell its 3.4 percent stake in Indian food delivery giant Zomato for nearly $400 million (nearly Rs. 3,333 crore) through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44 percent stake in the...
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Adobe, Figma $20 Billion Deal to Face Full-Scale EU Antitrust Probe After Preliminary Review
Adobe's $20 billion (roughly Rs. 1,63,400 crore) bid for cloud-based designer platform Figma will reportedly face a full-scale EU antitrust investigation following EU regulators' preliminary review. The move underscores antitrust watchdogs' wariness of tech deals where bigger companies may acquire rival start-ups to shut them down.
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Infosys Inks AI Deal With Estimated $2 Billion Target Spend Over Five Years: Details
Infosys has inked a five-year deal with an existing client with a target spend of $2 billion (roughly Rs. 16,400 crore) for artificial intelligence and automation services, the IT services firm said in an exchange filing. According to Infosys, the agreement includes AI and automation development, modernization, and maintenance.
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UK to Ban Cold Calling for Crypto, Insurance Deals to Zero Down on Fraud Activities Draining Billions
UK may soon stop merchants from cold calling their potential customers. The decision is nudged by the rising numbers of financial fraud cases in the nation. UK’s National Crime Agency (NCA) has estimated that the nationals there could be losing up to GBP 7 billion (roughly Rs. 71,648 crore) annually to these telecom-powered financial frauds.
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FTX Agrees to Sell LedgerX for $50 Million, to Seek Bankruptcy Court Approval on May 4
FTX on Tuesday announced that it had reached an agreement to sell LedgerX, the bankrupt crypto exchange's crypto derivatives platform to an affiliate of Miami International Holdings. The crypto firm will seek approval for the sale of its platform in a deal worth $50 million (roughly Rs. 400 crore) in a US bankruptcy court on May 4.
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Google Said to Have Invested $400 Million in OpenAI's ChatGPT Rival Anthropic
Google is said to have invested almost $400 million (roughly Rs. 3,299 crore) in artificial intelligence startup Anthropic, which is testing a rival to OpenAI’s ChatGPT. Google and Anthropic separately announced a partnership in which Anthropic will use Google’s cloud computing services.
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Microsoft Said to Have Offered No Remedies in EU Antitrust Review of Activision Deal
Microsoft's has not offered any remedies to EU antitrust regulators reviewing its proposed $69 billion (nearly Rs. 5,71,400 crore) bid for Call of Duty maker Activision Blizzard ahead of an expected full-scale EU probe, a person familiar with the matter said on Monday. The US software company is betting on the acquisition to help it compete bett...
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Twitter Confirms Intent to Close Elon Musk's Takeover Offer at Original Price
Twitter said on Tuesday that Tesla CEO Elon Musk had sent the company a letter that he intended to complete the takeover agreed upon earlier this year, seeking to acquire the platform for $44 billion (roughly Rs. 3,58,300 crore). The microblogging service announced via a tweet that it intends to close the offer at the original price of $54.20 (roug...
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PayU India Receives CCI Approval for 100 Percent Acquisition of BillDesk
PayU India payments has received the Competition Commission of India (CCI) approval for the acquisition of 100 percent equity of indiaideas.com (BillDesk). The announcement for acquiring digital payments provider BillDesk at $4.7 billion (about Rs 34,400 crore) initially came from Prosus NV-backed PayU in August last year.
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eToro Acquires Options Trading Platform Gatsby in $50 Million Deal as Part of US Expansion Plan
eToro, the Israeli online brokering platform, has acquired options trading platform Gatsby in a bid to expand its presence and services in the US. The deal was finalised for $50 million (roughly Rs. 400 crore) in cash and common stock. As part of the deal, the Gatsby team will be subsumed within the eToro brand in the coming days.
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Facebook Owner Meta-Giphy Deal Block Quashed by UK Tribunal, Asks Regulator to Reconsider Filing
Britain's competition regulator said on Monday it would carry out another review of Facebook owner Meta's acquisition of Giphy after a tribunal quashed its original decision to block it. Recently, the US tech giant partially won an appeal against the regulator.
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Elon Musk’s Startups Could Be Silver Lining for Bankers Burned by Twitter Deal
Investment bankers that stand to lose fees from Tesla CEO Elon Musk abandoning the $44 billion (roughly Rs. 3,52,400 crore) acquisition of Twitter, are looking to Musk’s privately held start-ups — SpaceX, Neuralink and The Boring Company — to make up for the lost business. The bankers also expressed interest in roles in any initial public off...
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Twitter Shares Slide About 6 Percent as Elon Musk’s Suspended Deal Reaches Legal Tussle
Twitter shares fell about 6 percent on Monday as a legal tussle between Elon Musk and the social media company is expected to take place soon. Musk, CEO of Tesla and SpaceX, walked away from the $44 billion (roughly Rs. 3,49,400 crore) deal on Friday. Twitter is said to be planning to sue Musk by this week and force him to complete the acquisitio...
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Elon Musk Takes Swipe at Twitter’s Lawsuit Threat, Suggests Bot Information Will Be Disclosed in Court
Elon Musk has reacted to Twitter’s threat to sue to the Tesla and SpaceX CEO over the attempt to terminate the $44 billion (roughly Rs. 3,49,400 crore) deal. On Sunday, Musk shared a collage of four images of him with different expressions, followed by four comments about his deal to acquire the microblogging service. Musk said that while Twitter...
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FTX US Has Agreed to Acquire Crypto Lender BlockFi for Up to $240 Million
BlockFi CEO Zac Prince said his company has signed a deal giving FTX the option to buy the crypto lender for up to $240 million (roughly Rs. 1,895 crore) as part of a credit financing agreement.
