As ByteDance-owned TikTok faces a complete ban in the US on 19th January, many of the 170 million Americans who use the app are switching to the lifestyle-sharing RedNote social media app as an alternative. The RedNote app, popularly known as Xioahongshu in China, meaning “Little Red Book,” is developed by Shanghai-based Xingyin Information Technology. … Read more
Chipmaker Nvidia has completed its acquisition of Israeli AI firm Run:ai, the start-up said on Monday, following antitrust scrutiny over the buyout. The European Commission granted unconditional approval to Nvidia’s US$700 million bid for Run:ai, which helps developers optimise infrastructure for AI, earlier in December after saying in October that the deal would require EU … Read more
After initial media reports speculating an acquisition between these two Japan-based giant entertainment companies, Sony has officially confirmed that it is acquiring 10% of shares from Japanese media and entertainment giant Kadokawa. With this, Sony will become Kadokawa’s biggest shareholder and may potentially impact the way Japanese media and entertainment products are made, produced, and … Read more
LONDON — H&M Group’s digital fashion outlet Afound has been acquired by Secret Sales, an off-price fashion marketplace. Secret Sales is part of Perwyn’s portfolio, a European private equity investor that “focuses on building and transforming mid-market businesses,” according to the company. The business acquired Afound in order to expand its footprint in the Nordics … Read more
Mumbai: The Department for Promotion of Industry and Internal Trade (DPIIT) has approved the ₹10,000-crore acquisition of Anil Ambani-promoted Reliance Capital by Hinduja Group-backed IndusInd International Holdings (IIHL), sources familiar with the development told ET. With this approval, all regulatory clearances required to finalise the transaction are now in place, said sources. IIHL had already … Read more
U.S. private equity firm Blackstone is nearing a deal to acquire Jersey Mike’s Subs, which could give the sandwich chain a valuation of around $8 billion, including its debt, reports say. The announcement about the same can be made as early as this week, The Wall Street Journal reported, citing people familiar with the matter. … Read more
The term “lifestyle brand” has become one of the most overused in the fashion business. But when it comes to Draper James, the description is accurate. Since its launch in 2015 as a Southern-influenced women’s apparel brand founded by Reese Witherspoon, the company has expanded into pet products, outdoor furniture, crafts, bedding and gifts. Now … Read more
This move is in line with Zomato’s strategy of expanding into new areas like entertainment, on top of their existing food and grocery delivery services. If Zomato acquires Paytm’s events and ticketing business, it would be its second-biggest purchase ever, after buying Blinkit (formerly Grofers) in 2022 for Rs 4,447 crore Food delivery giant Zomato … Read more
SINGAPORE: A Japanese consortium has completed the acquisition of Singapore-based traditional Chinese medicine company Eu Yang Sang International for S$695 million (US$516 million). The consortium of Mitsui & Co and Rohto Pharmaceutical acquired 86 per cent of Eu Yan Sang from Righteous Crane Holding, announced Tower Capital Asia in a press release on Tuesday (Jun … Read more
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The Mumbai bench of the National Company Law Tribunal (NCLT) has given its nod to Metalyst Forgings’ acquisition by Deccan Value Investors LP-led … Read more
